Examples of Standby Servicing Agreement in a sentence
Energy scavenging is the collection of small amounts of ambient energy to power wireless devices [19- 20].
Termination of the appointment of the Standby ServicerThe appointment of the Standby Servicer may be terminated in the circumstances set out in the Standby Servicing Agreement which include, without limitation, a material breach by the Standby Servicer of its obligations under the Standby Servicing Agreement or the insolvency of the Standby Servicer.Upon termination of the appointment of the Standby Servicer, the Issuer agrees to use its reasonable endeavours to appoint a substitute standby servicer.
Unless the Agent decides otherwise, the Standby Custodian shall become the New Custodian in the place of the Custodian, pursuant to the Standby Custody Agreement, the Standby Manager shall become New Manager in the place of the Manager, pursuant to the Standby Management Agreement, and the Standby Servicer shall become New Servicer in the place of the Servicer, pursuant to the Standby Servicing Agreement.
Standby Servicing Agreement The Issuer will enter into a standby servicing agreement withthe Standby Servicer and the Trustee, pursuant to which the Standby Servicer will agree to assume the Servicer’s administrative functions in respect of the Mortgage Loans should the appointment of the Servicer be terminated, and act in accordance with the instructions of the Trustee following an Event of Default.
Following the appointment of the Standby Servicer as Successor ServicerFollowing the appointment of the Standby Servicer as Successor Servicer, the Issuer or the Trustee shall require that the Standby Servicer complies with various one-off obligations relating to its assumption of the role and function of servicer as well as various ongoing obligations to perform responsibilities, duties and liabilities under the Standby Servicing Agreement.