Redirection Letter definition

Redirection Letter means an irrevocable redirection letter in the form attached as Exhibit I to this Agreement, which Buyer may send or instruct Custodian to send to each Mortgagor or obligor with respect to a Purchased Asset subject to a Transaction after the occurrence of an Event of Default.

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Redirection Letter shall have the meaning specified in Article 4(b).

Redirection Letter shall have the meaning specified in Article 29(e).

Examples of Redirection Letter in a sentence

A Servicer Termination Event shall have occurred and Sellers shall not have (i) appointed a successor Servicer, (ii) transferred the servicing of the Purchased Assets to such successor Servicer or (iii) delivered a fully executed Servicing Agreement and, if required hereby, Redirection Letter, in each case, within sixty (60) days following the occurrence of such Servicer Termination Event.
If a Borrower, issuer, servicer or other obligor forwards any Income with respect to a Purchased Asset to any Seller or to any of its Affiliates rather than directly to the applicable Servicer Account, such Seller shall deliver an additional Redirection Letter to such Person, with a simultaneous copy to the applicable Servicer, and Purchaser, and make other commercially reasonable efforts to cause such Person to forward such amounts directly to the applicable Servicer Account.

More Definitions of Redirection Letter

Redirection Letter shall have the meaning specified in Section 5(b) of this Agreement.

Redirection Letter means an irrevocable redirection letter substantially in the form attached as Exhibit L.

Redirection Letter means an irrevocable redirection letter in the form attached as Exhibit VIII to this Agreement instructing the Servicer to pay all amounts payable under the related Purchased Asset to the Cash Management Account, and executed by the Servicer with respect to such Purchased Asset.

Redirection Letter means, in relation to any Eligible Asset, an instruction letter substantially in the form set out in Schedule 13 (Form of Redirection Letter) pursuant to which the Borrower has directed the addressee with respect to the applicable Asset to remit all amounts on account of each such Asset directly to the Collection Account.