Servicer Default Notice definition

Servicer Default Notice means, in the event of any Servicer Default, a written notice by the Administrative Agent to the Servicer terminating the rights and obligations of the Servicer, as Servicer, under the Servicing Agreement as to all or any of the Purchased Contracts.
Sample 1

Examples of Servicer Default Notice in a sentence

  • In the event of a Servicer Default, the APC may, with the written consent of the APC Trustee, or the APC Trustee may itself (following the service of an APC Note Enforcement Notice) deliver notice in writing thereof (a "Servicer Default Notice") to the Servicer (with a copy to the APC or the APC Trustee (as applicable) and the APC Note Purchaser) immediately or at any time.

  • In respect of each Worked Out Reference Obligation, the Swap Calculation Agent will determine the "Credit Protection Adjustment Amount" by subtracting the Initial Credit Protection Amount from the Worked Out Credit Protection Amount (provided that if the Work-Out Completion Date in respect of such Worked Out Reference Obligation is the Servicer Default Notice Date, the Worked Out Credit Protection Amount in respect of such Worked Out Reference Obligation shall be zero).

Related to Servicer Default Notice

  • Servicer Default means an event specified in Section 8.01.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

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

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

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

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

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

  • 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):

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

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

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

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

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

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

  • Purchaser Default has the meaning set forth in Section 12.2 (a).

  • Customer Default shall have the meaning set forth in Section 11.1.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.