Redirection Notice definition

Redirection Notice shall have the meaning assigned to such term in Section 14(c).

Redirection Notice shall have the meaning assigned to such term in Section 19(e).

Redirection Notice shall have the meaning assigned to such term in Section 16(e).

Examples of Redirection Notice in a sentence

• Mezzanine Lender hereby unconditionally and absolutely releases Senior Lender from any liability to Mezzanine Lender on account of Senior Lender’s compliance with any Redirection Notice believed by Senior Lender to have been delivered by Loan Pledgee.

• Prior to the delivery of a Payment Redirection Notice, all payments in respect of interest, principal, fees or other amounts arising pursuant to the ECA Loan and/or ECA Guarantee and/or Related Security will be paid into the Collection Account.

• Seller (a) shall comply with and enforce each Irrevocable Redirection Notice, (b) shall not amend, modify, waive, terminate or revoke any Irrevocable Redirection Notice without Buyer’s consent in its discretion, and (c) shall take all reasonable steps to enforce each Irrevocable Redirection Notice.

• The cost of various State government concessions might also need to be included.

• Any Pledgor unconditionally and absolutely releases Adminis- trative Agent from any liability to Pledgor for complying with any Redirection Notice.

More Definitions of Redirection Notice

Redirection Notice has the meaning provided in Section 15 hereof.

Redirection Notice means a written notice from Lender to Depositary Bank whereby Lender is able to take control of the Collections Account and Borrower shall not have a right of withdrawal from the Collections Account.

Redirection Notice has the meaning set forth in Section 16(a) hereof.

Redirection Notice has the meaning set forth in the Participation Agreement.

Redirection Notice shall have the meaning assigned to such term in Section 3.4(b).

Redirection Notice to each other Noteholder and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases each other Noteholder and any Servicer from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Noteholder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 20(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

Redirection Notice is defined in Section 12.3.2.