Servicer Financial Covenant Event of Default definition

Servicer Financial Covenant Event of Default means, at any time, the breach of any covenant applicable at such time to the Master Servicer under the Credit Agreement or any replacement or successor credit facility of the Master Servicer to the extent such covenant requires compliance by the Master Servicer with an interest coverage ratio, a fixed charge coverage ratio, a leverage ratio or a minimum EBITDA level.
Sample 1Sample 2
Servicer Financial Covenant Event of Default in Section 2.1(b) of the Series 2011-2 Supplement is hereby deleted in its entirety.
Sample 1
Servicer Financial Covenant Event of Default means, at any time prior to a Specified Change in Control Transaction, the breach of any covenant applicable at such time to the Master Servicer under the Credit Agreement or any replacement or successor credit facility of the Master Servicer to the extent such covenant requires compliance by the Master Servicer with an interest coverage ratio, a fixed charge coverage ratio, a leverage ratio or a minimum EBITDA level or with any other financial measure or ratio intended to test the financial or credit performance of the Master Servicer or the Master Servicer and its consolidated subsidiaries. For the avoidance of doubt, the Servicer Interest Coverage Ratio Event of Default and the Servicer Leverage Coverage Ratio Event of Default constitute Servicer Financial Covenant Events of Default as of the Series 2010-3 Restatement Closing Date and for so long as the same remain applicable under the Credit Agreement or any such successor credit facility. RCFC agrees to notify each Managing Agent in the event that (i) the Interest Coverage Ratio or the Leverage Coverage Ratio is no longer applicable under the Credit Agreement or any successor credit facility or (ii) any other financial covenant becomes applicable hereunder pursuant to the Credit Agreement or any such successor credit facility.
Sample 1

More Definitions of Servicer Financial Covenant Event of Default

Servicer Financial Covenant Event of Default means a breach by a Permitted Change in Control Counterparty of any Permitted Change in Control Counterparty Financial Covenant.
Sample 1
Servicer Financial Covenant Event of Default means, at any time prior to a Permitted Change in Control Transaction, the breach of any covenant applicable at such time to the Master Servicer under the Credit Agreement or any replacement or successor credit facility of the Master Servicer to the extent such covenant requires compliance by the Master Servicer with an interest coverage ratio, a fixed charge coverage ratio, a leverage ratio or a minimum EBITDA level or with any other financial measure or ratio intended to test the financial or credit performance of the Master Servicer or the Master Servicer and its consolidated subsidiaries. For the avoidance of doubt, the Servicer Interest Coverage Ratio Event of Default and the Servicer Leverage Coverage Ratio Event of Default constitute Servicer Financial Covenant Events of Default as of the Series 2011-2 Closing Date and for so long as the same remain applicable under the Credit Agreement or any such successor credit facility.
Sample 1

Related to Servicer Financial Covenant Event of Default

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • 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:

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

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

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

  • 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.

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

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

  • 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).

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

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

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

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • 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.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Owner Event of Default has the meaning set forth in Section 20.3.

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

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

  • 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)).

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

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