Exclusive Administration Sample Clauses

Exclusive Administration. Subject to the terms of this Agreement and the Servicing Agreement that impose limitations on the exercise of the following-described power and authority (including, without limitation, the rights of the Controlling Noteholder, the Controlling Noteholder Representative, the Consulting Parties and the Decision-Eligible Note A Holders to exercise their respective rights specifically set forth under this Agreement, including those set forth in Section 5, and the obligation of the Lead Master Servicer and Lead Special Servicer to comply with the Servicing Standard), the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Loan Documents or consent to any action or failure to act by the Mortgagor or any other party to the Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy and no other Noteholder shall have any right whatsoever to administer or exercise of the rights and remedies of the lender under the Mortgage Loan. Subject to this Agreement and the Servicing Agreement (including, without limitation, Section 5 below) and consistent with the Servicing Standard, each Non-Lead Noteholder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) the rights, if any, that such Non-Lead Noteholder has to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgagor, including, without limitation, filing or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Mortgagor. The Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to any Non-Lead Noteholder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder (or any Servicer therefor) from the obligation to make any disbursement of funds as set forth herein).
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Related to Exclusive Administration

  • Collateral Administration 33 6.1. General........................................................................... 33 6.2.

  • Agreement Administration SBBC has delegated authority to the Superintendent of Schools or his/her designee to take any actions necessary to implement and administer this Agreement.

  • Shared Leave Administration A. The calculation of the recipient’s leave value will be in accordance with applicable Office of Financial Management policies, regulations, and procedures. The leave received will be coded as shared leave and be maintained separately from all other leave balances. All paid leave accrued must be used prior to using shared leave when the employee qualifies for shared leave under 13.2 A.1. Accrued vacation leave and paid military leave allowed under RCW 38.40.060 must be used prior to using shared leave for employees qualified under 13.2 A.2. All paid leave, except sick leave, must be used prior to using shared leave when the employee qualifies for shared leave under 13.2 A.3 and 13.2 A.4.

  • Program Administration An activity relating to the general management, oversight and coordination of community development programs. Costs directly related to carrying out eligible activities are not included.

  • Settlement Administration The Settlement Administrator will conduct a skip trace for the address of all former employee Class Members. The Settlement Administrator will mail the Notice by first class U.S. mail to all Class Members at the address Defendants have on file for those Class Members and to all former employee Class Members at the address resulting from the skip trace. The Notice will inform Class Members that they have until the Response Deadline to either object to the Settlement or to opt-out of the Settlement. Any Class Member who does not receive Notice after the steps outlined above have been taken will still be bound by the Settlement and/or judgment.

  • Project Administration The Contractor shall provide project administration for all Subcontractors, vendors, suppliers, and others involved in implementing the Work and shall coordinate administration efforts with those of the A/E and ODR in accordance with these Uniform General and Supplementary Conditions and provisions of Division 1 Specifications, and as outlined in the Pre- construction Conference.

  • Loan Administration Borrowings under the Loan shall be as follows:

  • Grant Administration The District recognizes that Charter Schools are utilizing revenue sources associated with federal and state agency grants. The District is required to be Fiscal Agent on such grants meaning the District is responsible for oversight, approval, review and distribution of funds. These administrative tasks result in the utilization of District resources. In recognition of this, the District is mandating the following.

  • Vacation and Sick Leave Administration (a) for the purposes of administration of clauses 34.11 and 34.12, where an employee does not work the same number of hours each week, the normal workweek shall be the weekly average calculated on a monthly basis.

  • Agreement Administration and Communications A. Under this Agreement, either of the representatives of the Judicial Council identified below will monitor the Work and act as the Judicial Council’s liaisons with the Contractor:

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