Servicer Replacement Event definition

Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:

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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

• The Owner Trustee shall promptly upon receipt of a list of Certificateholders from the Certificate Registrar give notice to the Administrator and each Certificateholder of any (a) Event of Default of which a Responsible Officer of the Owner Trustee has been provided written notice pursuant to Section 6.5 of the Indenture and (b) Servicer Replacement Event of which a Responsible Officer of the Owner Trustee has been provided written notice pursuant to Section 7.1 of the Sale and Servicing Agreement.

• The Grantor Trust Trustee shall have no duty to investigate, verify or take any action to determine whether any Event of Default or Servicer Replacement Event has in fact occurred and shall have no duty to make any determination as to the materiality of any fact, matter or event, or to make any demand or claim for repurchase of Receivables.

• The Owner Trustee shall have no duty to investigate, verify or take any action to determine whether any Event of Default or Servicer Replacement Event has in fact occurred and shall have no duty to make any determination as to the materiality of any fact, matter or event, or to make any demand or claim for repurchase of Receivables.

• Upon any such waiver, such Servicer Replacement Event shall cease to exist and be deemed not to have occurred, and any Servicer Replacement Event arising therefrom shall be deemed not to have occurred for every purpose of this Agreement, but no such waiver shall extend to any prior, subsequent or other Servicer Replacement Event or impair any right consequent thereto.

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