Breach definition
Examples of Breach in a sentence
Except as provided in the proviso to the immediately preceding sentence, the Responsible Repurchase Party shall remit the amount of such costs and expenses to the Special Servicer for disbursement to the applicable Persons and upon its making such remittance, the Responsible Repurchase Party shall be deemed to have cured such Breach in all respects.
Incident Management/Notification of Breach - DST shall develop, implement and maintain an incident response plan that specifies actions to be taken when DST or one of its subcontractors suspects or detects that a party has gained material unauthorized access to Fund Data or systems or applications containing any Fund Data (the “Response Plan”).
For the avoidance of doubt, no Liquidation Fee shall be payable by the Trust Loan Seller in connection with a repurchase of such Trust Loan Seller’s Loan Percentage Interest in the Trust Loan (or any allocable portion of the Trust Loan) or any indemnification payment by the Trust Loan Seller to a Material Breach or a Material Document Defect if made in accordance with and within the Initial Resolution Period or any Extended Resolution Period.
Neither termination nor the alternative remedies under Section 14.2(h) (Alternative Remedies for Licensor’s Material Breach or Licensor’s Insolvency) shall be the sole remedy under this Agreement and, whether or not termination or an alternative remedy is effected and notwithstanding anything contained in this Agreement to the contrary, all other remedies shall remain available except as agreed to otherwise herein.
If any such notice is provided by the Customer or by BNY (a “Breach Termination Notice”), this Agreement shall terminate as of 11:59 PM (Eastern time) on the last day of the applicable notice period following the date the Breach Termination Notice is given by the Non-Defaulting Party, or such later date as may be specified in the Breach Termination Notice (but not later than the last day of the Initial Term or then-current Renewal Term, as appropriate).