Servicing Termination Events definition

Servicing Termination Events. As defined in Section 6(e).
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Servicing Termination Events. Shall have the meaning ascribed thereto in Section 5(e) of this Agreement.
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Servicing Termination Events wherever used herein, means any one of the following events:
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Examples of Servicing Termination Events in a sentence

  • The Trustee, prior to the occurrence of a Servicing Termination Event of which a Responsible Officer of the Trustee has actual knowledge and after the curing of all Servicing Termination Events which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement.

  • The Trustee, prior to the occurrence of a Servicing Termination Event and after the curing of all Servicing Termination Events which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement.

  • Notice of Events of Default and Servicing Termination Events 22 Section 3.18.

  • Notice of Events of Default and Servicing Termination Events 23 Section 3.18.


More Definitions of Servicing Termination Events

Servicing Termination Events. The meaning set forth in Section 5(e) hereof.
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Servicing Termination Events means any of the events set out Clause 20.1 of the Servicing Agreement. Shortfall has the meaning ascribed thereto in the Clause 8.1 of the Trust Deed. Short-Term Issuer Credit Rating means the short-term issuer credit rating as used by S&P in its rating methodology. Special Conditions means, in relation to any Series of Covered Bonds, the Conditions applicable thereto which are not in the form set out in the Trust Deed.
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Servicing Termination Events shall have the meaning given to such term in Section 4(d) of the Loan Participation Agreement.
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Servicing Termination Events shall have the meaning assigned thereto in Section 6(e). “Settlement Date” means the date specified in a Takeout Commitment upon which the related Security is scheduled to be delivered to the specified Takeout Investor on a “delivery versus payment” basis. “SOFR” means a rate per annum equal to, with respect to any day, the secured overnight financing rate for such Business Day published by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of New Yorkpublished for such day by the SOFR Administrator on the SOFR Administrator’s website, currently at xxxx://xxx.xxxxxxxxxx.xxx (, or any successor source for the secured overnight financing rate identified as such by the administrator of the secured overnight financing rateSOFR Administrator from time to time).20212829 “SOFR Administrator” means the Federal Reserve Bank of New York, as administrator of SOFR (or a successor administrator).30 “Strict Compliance” means compliance of Seller and the Related Mortgage Loans with the requirements of the Agency Guide as amended by any agreements between Seller or a Takeout Investor, on the one hand, and the Applicable Agency, on the other hand, sufficient to enable Seller to issue and to service and Xxxxxx Mae to guarantee or Xxxxxx Xxx or Xxxxxxx Mac to issue and guarantee a Security. “Subsidiary” means, with respect to any Person, any corporation, partnership or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of 20 The definition of “SOFR” was amended by Amendment No. 1, dated as of September 24, 2021. 2128 The definition of “SOFR Based Rate” was removedamended by Amendment No. 1, dated as of September 24, 2021., and Amendment No. 2, dated as of April 28, 2022. 29 The definition of “SOFR Based Rate” was deleted by Amendment No. 1, dated as of September 24, 2021. 30 The definition of “SOFR Administrator” was added Amendment No. 2, dated as of April 28, 2022.
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Related to Servicing Termination Events

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

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

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

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Percentage January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Servicer Termination Notice Defined in Section 6.15.

  • Operating Advisor Termination Event means any one of the following events 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:

  • Swap Termination Event means any event defined as a “Termination Event” in the Interest Rate Swap Agreement.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Event of Termination has the meaning specified in Section 7.01.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Company Termination Event means any of the following:

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Potential Termination Event means an event which but for the lapse of time or the giving of notice, or both, would constitute a Termination Event.

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

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Event Termination Date See Section 2(e) hereof.