Servicer Replacement Event definition
Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:
Servicer Replacement Event means any of the following:
Servicer Replacement Event means the occurrence of any event described in paragraphs (a) to (e) below:
Examples of Servicer Replacement Event in a sentence
With respect to any Servicer Replacement Event, the SUBI Trustee, acting at the direction of the Required Related Holders, may waive any default of the Servicer.
The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) VCI is the Servicer, (ii) no Servicer Replacement Event has occurred and is continuing and (iii) either (x) VCI has a short-term debt rating of at least “F1” from Fitch and at least “A-1” from S&P or (y) an entity with such ratings has guaranteed the performance of VCI’s obligations hereunder.
More Definitions of Servicer Replacement Event
Servicer Replacement Event. The meaning specified in Section 6.01(a).
Servicer Replacement Event means the occurrence of any one or more of the following events:
Servicer Replacement Event has the meaning given to it under Section 3.1 of the Servicing Agreement;
Servicer Replacement Event. As defined in the Property Management Agreement.
Servicer Replacement Event means the occurrence of any Termination Event.
Servicer Replacement Event is defined in the Servicing Agreement.
Servicer Replacement Event means, inter alia, (i) an unremedied failure (and such failure is not remedied within three Business Days of notice of such failure being given) by the Servicer to deliver or cause to be delivered any required payment to the Issuer for distribution to the Noteholders, to the Swap Counterparty and the Subordinated Lender, (ii) unremedied failure (and such failure is not remedied within three Business Days of notice of such failure being given) to duly observe or perform in any material respect any other of its covenants or agreements, which materially and adversely affects the rights of the Issuer or the Noteholders, or (iii) the Servicer suffering an Insolvency Event; provided, however, that failure of performance referred to under clauses