Examples of Servicing Trigger in a sentence
In addition, on each of the next three Distribution Dates and for every Distribution Date occurring in the last month of each Fiscal Quarter thereafter, if a Special Servicing Trigger is in effect the Majority Class CE Certificateholder shall have the option to direct the Master Servicer to transfer any additional Special Servicer Delinquent Loans as of such Distribution Dates to the special servicer.
In addition, on each of the next three Distribution Dates and for every Distribution Date occurring in the last month of each Fiscal Quarter thereafter, if a Special Servicing Trigger is in effect the Majority Class CE Certificateholder shall have the option to direct the Master Servicer to transfer any additional Delinquent Loans as of such Distribution Dates to the special servicer.
In addition, upon the occurrence of any RMBS Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated "SQ2" or better by Moody's on any date, the RMBS Servicing Trigger Event shall no longer apply to the RMBS Servicer.
In addition, upon the occurrence of any Servicing Trigger Event, the Master Servicer shall terminate the rights and responsibilities of the Servicer under the Servicing Agreement; provided, however, that in the event that the Servicer is rated “SQ2-” or better by Mxxxx’x on any date, the Servicing Trigger Event shall no longer apply to the Servicer.
In addition, upon the occurrence of any RMBS Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated “SQ2-” or better by Moody’s on any date, the RMBS Servicing Trigger Event shall no longer apply to the RMBS Servicer.
In addition, upon the occurrence of any Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated “SQ2-” or better by Moody’s on any date, the Servicing Trigger Event shall no longer apply to the RMBS Servicer.
Servicing Trigger; Removal of Master Servicer........................
In the event of a Backup Servicing Trigger Event, the Sellers shall deliver to the Backup Servicer a completed and signed Notice to Borrower, substantially in the form of Exhibit N hereto, with respect to each Purchased Asset subject to a Transaction.
In addition, on each of the next three Distribution Dates and for every Distribution Date occurring in the last month of each Fiscal Quarter thereafter, if a Special Servicing Trigger is in effect the related Majority Class CE Certificateholder shall have the option to direct the Master Servicer to transfer any additional Special Servicer Delinquent Loans as of such Distribution Dates to the special servicer.
Without limiting the generality of the foregoing, each Loan Party hereby authorizes the Administrative Agent (and each Consumer Receivable Obligor is hereby directed and authorized to recognize such authorization), following the occurrence of an Event of Default or a Backup Servicing Trigger Event, to direct any or all Consumer Receivable Obligors to make all further payments on Eligible Consumer Receivables in accordance with the directions of the Administrative Agent.