Examples of Master Servicer Termination Event in a sentence
If any Master Servicer Termination Event or any Servicer Termination Event of which the Trustee has knowledge has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement or any Series Supplement, 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.
Upon the occurrence of any Master Servicer Termination Event or any Servicer Termination Event, the Master Servicer or Servicer, as applicable, shall give prompt written notice thereof to the Trustee and the Trustee shall give notice to the Investor Certificateholders.
The appointment of the Master Servicer may be terminated by the Issuer and/or the Trustee (subject to the terms of the Master Servicing Agreement) upon the occurrence of a Master Servicer Termination Event (see "Master Servicer Termination Event" in the "Non-Rating Triggers Table").
No event has occurred and is continuing and no condition exists, or would result from any Purchase or Reinvestment or from the application of proceeds therefrom, that constitutes or may reasonably be expected to constitute an Event of Termination, an Unmatured Event of Termination, a Master Servicer Termination Event or an Unmatured Master Servicer Termination Event.
The appointment of the Master Servicer may be terminated by the Issuer and/or the Security Trustee (subject to the terms of the Master ServicingAgreement) upon the occurrence of a Master Servicer Termination Event (see “Master Servicer Termination Event” in the “Non-Rating Triggers Table”).