Master Servicer Event of Default definition

Master Servicer Event of Default wherever used herein, means any one of the following events:
Master Servicer Event of Default. One or more of the events described in Section 7.01.
Master Servicer Event of Default. (a) any failure by the Master Servicer to deposit in the Distribution Account any payment received by it from any Servicer or required to be made by the Master Servicer under the terms of this Agreement which continues unremedied for a period of two (2) Business Days after the date upon which written notice of such failure, requiring the same to be remedied, shall have been given to the Master Servicer by any other party hereto;

Examples of Master Servicer Event of Default in a sentence

  • Upon any such waiver of a default or Master Servicer Event of Default, such default or Master Servicer Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder.

  • No such waiver shall extend to any subsequent or other default or Master Servicer Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • The Trustee, prior to the occurrence of a Master Servicer Event of Default and after the curing of all Master Servicer Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement.

  • During a Master Servicer Event of Default, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs.

  • Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).


More Definitions of Master Servicer Event of Default

Master Servicer Event of Default. As defined in Section 9.04.
Master Servicer Event of Default. One or more of the events described in Section 7.1 hereof.
Master Servicer Event of Default wherever used herein, means any one of the following events (whatever the reason for such Master Servicer Event of Default and 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) and only with respect to the defaulting Master Servicer:
Master Servicer Event of Default. As defined in Section 9.06.
Master Servicer Event of Default. One or more of the events described in Section 8.01(b) of this Agreement.
Master Servicer Event of Default. Those events of default described in Section 8.04 hereof.
Master Servicer Event of Default. As defined in Section 7.01(a).