Revolving Facility Servicer Event of Default definition

Revolving Facility Servicer Event of Default has the meaning specified in Section 8.02(a) of the Basic Servicing Agreement.
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Revolving Facility Servicer Event of Default. (i) Any failure by the Servicer to deliver to the Collateral Agent or the Administrative Agent, or deposit into the Collection Account with respect to the Revolving Facility Pool, any proceeds or payment required to be so delivered with respect to the Revolving Facility Pool under this Agreement that continues unremedied for a period of 5 Business Days after the earlier of the date on which (x) notice of such failure is given to the Servicer from the Lender or (y) an Authorized Officer of the Servicer has actual knowledge of such failure; provided that such event will not be a Revolving Facility Servicer Event of Default if either:
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Examples of Revolving Facility Servicer Event of Default in a sentence

  • Notwithstanding any other provision of this Agreement, so long as MBFS USA remains both the Lender and the Servicer and no Facility Servicer Event of Default or Revolving Facility Servicer Event of Default has occurred, no Revolving Facility Collection Account need be established.

  • Notwithstanding any other provision of this Agreement, so long as DCFS USA remains both the Lender and the Servicer and no Facility Servicer Event of Default or Revolving Facility Servicer Event of Default has occurred, no Revolving Facility Collection Account need be established.

Related to Revolving Facility Servicer Event of Default

  • 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:

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

  • Lender Default means (i) the refusal (which may be given verbally or in writing and has not been retracted) or failure of any Lender to make available its portion of any incurrence of revolving loans or reimbursement obligations required to be made by it, which refusal or failure is not cured within two Business Days after the date of such refusal or failure; (ii) the failure of any Lender to pay over to the Administrative Agent, any L/C Issuer or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, unless subject to a good faith dispute; (iii) a Lender has notified the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations, or has made a public statement to that effect with respect to its funding obligations, under the Revolving Credit Facility or under other agreements generally in which it commits to extend credit; (iv) a Lender has failed, within three Business Days after request by the Administrative Agent, to confirm that it will comply with its funding obligations under the Revolving Credit Facility; or (v) a Lender has admitted in writing that it is insolvent or such Lender becomes subject to a Lender-Related Distress Event or a Bail-In Action. Any determination by the Administrative Agent that a Lender Default has occurred under any one or more of clauses (i) through (v) above shall be conclusive and binding absent manifest error, and the applicable Lender shall be deemed to be a Defaulting Lender (subject to Section 2.17(b)) upon delivery of written notice of such determination to the Borrower, each L/C Issuer, each Swing Line Lender and each Lender.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration 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.

  • Servicer Event of Termination One or more of the events described in Section 7.01.