Administrator Default definition

Administrator Default has the meaning specified in Section 5.1 of the Administration Agreement.

Administrator Default means the occurrence of any event specified in Section 8(d) of the Administration Agreement.

Administrator Default shall have the meaning set forth in Section 12 of the Administration Agreement.

Examples of Administrator Default in a sentence

• Upon any such waiver of a past default, such default shall cease to exist, and any Administrator Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement.

• If a Servicer Default shall arise from the failure of the Servicer to perform any of its duties or obligations under the Servicing Agreement, or an Administrator Default shall arise from the failure of the Administrator to perform any of its duties or obligations under the Administration Agreement, as the case may be, with respect to the Trust Student Loans, the Issuer shall take all reasonable steps available to it to enforce its rights under the Basic Documents in respect of such failure.

• If an Authorized Officer of the Issuer shall have knowledge of the occurrence of a Servicer Default or an Administrator Default under the Servicing Agreement or the Administration Agreement, respectively, the Issuer shall promptly notify the Indenture Trustee and the Rating Agencies then rating the Notes thereof, and shall specify in such notice the action, if any, the Issuer is taking with respect to such default.

• Upon any such waiver of a past default, such default shall cease to exist, and any Administrator Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement to the extent provided in such waiver.

• The AART Indenture Trustee shall not be deemed to have notice of any Default, AART Event of Default or Administrator Default unless a Responsible Officer of the AART Indenture Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the AART Indenture Trustee at the Corporate Trust Office of the AART Indenture Trustee, and such notice references the Securities and this AART Indenture.

More Definitions of Administrator Default

Administrator Default has the meaning specified in Section 8.01(b) of the Sale and Servicing Agreement.

Administrator Default. An event described in Section 7.01 of the Administration Agreement. Administrator’s Accounting: A certificate, completed by and executed on behalf of the Administrator, in accordance with Section 2.06 of the Administration Agreement.

Administrator Default has the meaning specified in Section 8.1(b) of the Transfer and Servicing Agreement.

Administrator Default has the meaning specified in the Administrative Services Agreement.

Administrator Default means any material breach, as determined by the Agent in its Permitted Discretion, of the terms of the Administration Agreement or the Multi-Party Agreement by Administrator, including without limitation (and for the avoidance of doubt), to the extent that any Delegated Functions have been (and during such time as such Delegated Functions are) delegated to the Sub-Administrator, any Sub-Administrator Default which has the effect of causing a material breach by Administrator of the Administration Agreement.

Administrator Default means any of the events described in Section 13(c) of the Administration Agreement.

Administrator Default. Has the meaning set forth in Section 2.5A.