Successor Manager definition

Successor Manager. Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trustee for the benefit of the Trust and the Companion Loan Holders, to serve as manager of a Foreclosed Property, which designation, as evidenced by written confirmation from each Rating Agency, shall not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates by such Rating Agency.

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Successor Manager means any successor to the Manager selected by the Control Party (at the direction of the Controlling Class Representative) upon the resignation or removal of the Manager pursuant to the terms of the Management Agreement.

Successor Manager shall have the meaning set forth in the Management Agreement.

Examples of Successor Manager in a sentence

• If the Trust Fund acquires any Foreclosed Property, the Special Servicer, acting on behalf of the Trustee, if the Manager would not be considered an Independent Contractor, shall either renegotiate the applicable Management Agreement or replace the Manager with a Successor Manager (as appropriate and to the extent permitted under such Management Agreement) so that the Foreclosed Property would be considered to be operated by an Independent Contractor.

• The Special Servicer agrees to monitor the performance of the Successor Manager and to enforce the obligations of the Successor Manager on behalf of the Trust Fund and the Companion Loan Holders.

• In connection with such management and subject to Section 3.4(c)(vii), the Successor Manager shall be entitled to the REO Management Fee solely from such Foreclosed Property Account or the Collection Account pursuant to Section 3.4(c)(vii).

More Definitions of Successor Manager

Successor Manager means an individual named or designated by agreement between a brewer and wholesaler who succeeds to the role of manager who will be principally responsible for the daily management of the wholesaler.

Successor Manager means a successor Manager appointed pursuant to the Management Agreement.

Successor Manager has the meaning assigned in Section 14(b).

Successor Manager means an individual named or designated by agreement between a ▇▇▇▇▇▇ and wholesaler who succeeds to the role of manager who will be principally responsible for the daily management of the wholesaler.

Successor Manager has the meaning given in Section 7.5.

Successor Manager has the meaning assigned thereto in Section 8.4 of the Management Agreement.

Successor Manager. As defined in Section 3.19(b) below.