Incipient Servicer Default means any event which, with the giving of notice or lapse of time or both, would constitute a Servicer Default.
Servicer Default means an event specified in Section 8.01.
Master Servicer Event of Default wherever used herein, means any one of the following events:
Servicer Event of Default wherever used herein, means any one of the following events:
Master Servicer Event of Termination As defined in Section 7.01 hereof.
Servicer Event of Termination One or more of the events described in Section 7.01.
Collateral Event of Default has the meaning set forth in Section 13.01(b).
Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.
Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.
Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.
Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.
Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.
Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.
Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.
Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;
Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.
Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.
Customer Default shall have the meaning set forth in Section 11.1.
Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);
MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);
Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.
Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.
Purchaser Default has the meaning set forth in Section 12.2 (a).
Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.
Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.
Issuer Event of Default means the occurrence of any of the following events:
Operating Advisor Termination Event means any one of the following events whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body: