Direction Notice definition
Examples of Direction Notice in a sentence
Upon receipt of a Direction Notice, Buyer shall have the right to terminate the Servicer’s rights and obligations to service the Mortgage Loans under the Servicing Agreement in accordance with the terms thereof.
Any fees due to the Servicer (a) in connection with any termination shall be paid by Seller and (b) incurred following receipt of a Direction Notice shall be paid by Buyer to the extent that such fees relate to the Mortgage Loans that are subject to the Servicing Agreement.
Any fees due to the Servicer (a) in connection with any termination shall be paid by Guarantor and Seller, jointly and severally, and (b) incurred following receipt of a Direction Notice shall be paid by Buyer to the extent that such fees relate to the Mortgage Loans that are subject to the Servicing Agreement.
The Fixed Rate Direction Notice shall be provided by the Borrower prior to the later of (A) 3:30 p.m. Frankfurt time on the same day of the conference call and (B) two (2) hours following receipt of the Indication Notice and confirmed in writing following telephonic notice.
Qualifying Debt) below in respect of the Issuer and the Non-Migrated Bondholders, a single vote by reference to the entire Outstanding Principal Amount of the Qualifying Borrower Debt of the applicable Participating QBS Creditors will be counted for or, as the case may be, against the applicable STID Proposal, SSA Instruction Notice, Emergency SSA Instruction Notice, Enforcement Instruction Notice, Further Enforcement Instruction Notice, Intercreditor Instruction Notice or Direction Notice.