Credit Enhancer Default Sample Clauses

Credit Enhancer Default. If the Credit Enhancer fails to make a payment required under the Credit Enhancement Instrument in accordance with its terms].
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Credit Enhancer Default. The failure by the Credit Enhancer to make a ----------------------- payment required under the Policy in accordance with the terms thereof.
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Credit Enhancer Default. The failure by the Credit Enhancer to make a payment required under the Policy in accordance with the terms thereof.
Sample 1
Credit Enhancer Default. If the Credit Enhancer fails to make a ----------------------- payment required under the Credit Enhancement Instrument in accordance with its terms. Credit Limit: With respect to any Mortgage Loan, the maximum Asset ------------ Balance permitted under the terms of the related Loan Agreement. Custodial Agreement: Any Custodial Agreement between the Custodian, ------------------- the Indenture Trustee, the Issuer and the Master Servicer relating to the custody of the Mortgage Loans and the Related Documents. Custodian: With respect to the ______ Loans, _____________________, a --------- ______________________, and its successors and assigns, and with respect to the ______________________ Loans, ________________________, a ___________, and its successors and assigns, provided, that in no event shall the Custodian be an Affiliate of the Seller. Cut-Off Date: With respect to the Initial Loans, ___________________. ------------
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Credit Enhancer Default. If the Credit Enhancer fails to make a ----------------------- payment required under the Credit Enhancement Instrument in accordance with its terms. Cut-Off Date: ________________. ------------ Default: Any occurrence which is or with notice or the lapse of time ------- or both would become an Event of Default.
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Related to Credit Enhancer Default

  • Servicer Default If any one of the following events (a “Servicer Default”) shall occur and be continuing:

  • Servicer Defaults If any one of the following events (a “Servicer Default”) shall occur and be continuing:

  • Notice of Servicer Default The Servicer shall deliver to the Issuer, the Indenture Trustee, the CPUC and the Rating Agencies, promptly after having obtained knowledge thereof, but in no event later than five (5) Business Days thereafter, written notice of any event which with the giving of notice or lapse of time, or both, would become a Servicer Default under Section 7.01.

  • Borrower Default Unless the Administrative Agent shall have received notice from Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that Borrower will not make such payment, the Administrative Agent may assume that Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

  • Consequences of a Servicer Default If a Servicer Default shall occur and be continuing, either the Indenture Trustee or the Noteholders whose Notes evidence not less than a majority of the Outstanding Amount of the Controlling Class as of the close of the preceding Distribution Date (or, if the Notes have been paid in full and the Indenture has been discharged in accordance with its terms, by the Owner Trustee or the Majority Certificateholders as of the close of the preceding Distribution Date) by notice then given in writing to the Servicer and the Owner Trustee (and to the Indenture Trustee if given by the Noteholders or the Certificateholders) may terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Receivables or otherwise, shall pass to and be vested in the Indenture Trustee pursuant to and under this Section 7.02. The Indenture Trustee is hereby authorized and empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and related documents, or otherwise. The Servicer agrees to cooperate with the Indenture Trustee and the Owner Trustee in effecting the termination of the responsibilities and rights of the Servicer under this Agreement, including the transfer to the Indenture Trustee or the Owner Trustee for administration by it of all cash amounts that shall at the time be held by the Servicer for deposit, or that shall have been deposited by the Servicer in the Collection Account, or the Note Distribution Account or thereafter received with respect to the Receivables that shall at that time be held by the Servicer.

  • Servicer Defaults; Termination of Servicer (a) Notwithstanding Section 4.1(a) of the Basic Servicing Agreement, the occurrence and continuation of any of the following shall constitute an Event of Default under the Servicing Agreement (each, a “Servicer Default”):

  • Servicer Event of Default Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Servicer.

  • Servicing Default If any one of the following events ("Servicing Default") shall occur and be continuing:

  • Guaranty Default Upon the failure of Guarantor to pay the amounts required to be paid hereunder when due following the occurrence of a Tenant Event of Default under the Lease, Landlord shall have the right to bring such actions at law or in equity, including, without limitation, appropriate injunctive relief, as it deems appropriate to compel compliance, payment or deposit, and among other remedies to recover its reasonable attorneys’ fees in any proceeding, including any appeal therefrom and any post judgment proceedings.

  • Lender Default If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.02(c), 2.14(e), 2.17(d), 2.18(d), 2.18(e) or 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid.

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