Servicer Termination Notice definition

Servicer Termination Notice. Defined in Section 6.15.

Servicer Termination Notice has the meaning assigned to that term in Section 6.01(b).

Servicer Termination Notice means any notice by the Administrative Agent to the Servicer that (a) an Event of Servicer Termination has occurred and (b) the Servicer’s appointment under the Funding Agreement has been terminated.

Examples of Servicer Termination Notice in a sentence

• At any time after the delivery of a Servicer Event Notice the Issuer may deliver a Servicer Termination Notice to the Servicer, the effect of which shall be to terminate the Servicer’s appointment under the Receivables Servicing Agreement (but without affecting any accrued rights and Liabilities under said agreement) on the Servicer Termination Date.

• Back-up Servicer As from the Closing Date, the Back-up Servicer will be appointed by the Issuer to, on an unconditional basis, undertake to perform the Services under and in accordance with the Transaction Documents and, subject to approval by the CMVM to be appointed as the Successor Servicer of the Servicer immediately upon the delivery of a Servicer Termination Notice.

• Upon the service of a Platform Servicer Termination Notice, orupon the occurrence of any Servicing Insolvency Event, the Issuer shall promptly arrange for the appointment of a successor servicer (which shall be the Back-Up Servicer pursuant to the terms of the Back-Up Servicing Agreement unless such appointment has been terminated or has lapsed in accordance with the same) (the “Successor Servicer”).

• The Issuer may terminate the Servicer's appointment and appoint a successor servicer (such appointment being subject to the prior approval of the CMVM) provided that it shall not have an adverse effect on the current rating of the Class A Notes, upon the occurrence of a Servicer Event by delivering a Servicer Termination Notice in accordance with the provisions of the Mortgage Servicing Agreement.

• The Issuer may terminate the Servicer’s appointment provided that it shall not have an adverse effect on the ratings of the Rated Notes then applicable, upon the occurrence of a Servicer Event by delivering a Servicer Termination Notice, which will give effectiveness to the appointment of the Back-up Servicer in accordance with the provisions of the Receivables Servicing Agreement.

More Definitions of Servicer Termination Notice

Servicer Termination Notice means a notice given to the Servicer pursuant to Section 7.01 of the Sale and Servicing Agreement terminating all rights and obligations of the Servicer under the Sale and Servicing Agreement, other than the indemnification obligations of the Servicer under Section 6.02 of the Sale and Servicing Agreement, which shall survive such termination.

Servicer Termination Notice has the meaning given to such term in Section 7.13.

Servicer Termination Notice is defined in Section 5.1 of the Servicing Agreement.

Servicer Termination Notice means the notice described in Section 6.01 hereof.

Servicer Termination Notice. The notice described in Section 6.01 of the Servicing Agreement.

Servicer Termination Notice. The notice described in Section 9.01(a) hereof.

Servicer Termination Notice means the notice served by the FleetCo Security Agent to the Spanish Servicer, any Italian Servicer, French Servicer or the Central Servicer (as applicable) pursuant to clause 15.1 (Termination by notification) of the Spanish Servicing Agreement and clause 13.1 of the relevant Italian Servicing Agreement and French Servicing Agreement.