Facility Servicer definition

Facility Servicer means Massachusetts Mutual Life Insurance Company, not in its individual capacity, but in its capacity as facility servicer pursuant to terms of this Agreement, together with its successors and permitted assigns, including any successor appointed pursuant to Article VIII.

Facility Servicer means, Massachusetts Mutual Life Insurance Company, not in its individual capacity, but in its capacity as facility servicer pursuant to terms of this Agreement and with respect to the other Transaction Documents, together with its successors and permitted assigns, including any successor appointed pursuant to Article VIII.

Facility Servicer means MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY, not in its individual capacity, in its capacity as facility servicer pursuant to the terms of this Agreement, together with its successors and permitted assigns, including any successor appointed pursuant to Article VIII.

Examples of Facility Servicer in a sentence

• If the Issuer has actual knowledge of the occurrence of a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, the Issuer will promptly notify the Indenture Trustee and the Rating Agencies of such occurrence and specify in such notice any action the Issuer is taking in respect of such event.

• The Servicer will notify the Depositor, the Owner Trustee, the Indenture Trustee and each Rating Agency of any Facility Servicer Event of Default or Exchange Note Servicer Event of Default or any event that with the giving of notice or lapse of time, or both, would become a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, no later than five Business Days after a Responsible Person of the Servicer obtains actual knowledge of such event.

• Massachusetts Mutual Life Insurance Company hereby accepts such appointment and agrees to perform the duties and responsibilities of the Facility Servicer pursuant to the terms hereof until such time as it resigns or is removed as Facility Servicer pursuant to the terms hereof.

• Any Obligation hereunder shall not be reduced by any distribution of any portion of Collections if at any time such distribution is rescinded or required to be returned by any Lender to the Borrower, the Facility Servicer or any other Person for any reason.

• The Facility Servicer shall not be responsible for the negligence or misconduct of any sub-agent or attorney in fact that it selects with reasonable care.

• The Borrower (or the Facility Servicer on its behalf to the extent amounts are available in the Collection Account), shall be required to pay all fees and expenses owing to any financial institution in connection with the maintenance of the Collection Account.

• If the Issuer has actual knowledge of the occurrence of a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, the Issuer will promptly notify the Indenture Trustee and the Rating Agencies of the occurrence and specify in the notice any action the Issuer is taking in respect of the event.

• The Servicer will notify the Depositor, the Owner Trustee, the Indenture Trustee and each Rating Agency of any Facility Servicer Event of Default or Exchange Note Servicer Event of Default or any event that with the giving of notice or lapse of time, or both, would become a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, no later than five Business Days after a Responsible Person of the Servicer obtains actual knowledge of the event.

• The Facility Servicer and the Borrower shall transmit to the Administrative Agent by e-mail a copy of all instructions and directions given to the Account Bank by such party pursuant to Section 2.08 concurrently with the delivery thereof.

• If such Applicable Servicer is the Facility Servicer, such Applicable Servicer shall be entitled to receive, to the extent of funds available therefor pursuant to Section 2.08, the Facility Servicing Fees accrued until such termination date as well as any other fees, amounts, expenses or indemnities it is entitled to pursuant to the provisions of this Agreement and the Facility Servicer Fee Letter (collectively, the “Servicer Termination Expenses”).

More Definitions of Facility Servicer

Facility Servicer means Massachusetts Mutual Life Insurance Company not in its individual capacity, but in its capacity as facility servicer pursuant to terms of the Loan and Servicing Agreement, together with its successors and permitted assigns, including any successor appointed pursuant to Article VIII of the Loan and Servicing Agreement;