Collateral Manager Termination Event Sample Clauses

A Collateral Manager Termination Event clause defines the circumstances under which the collateral manager of a financial structure, such as a collateralized loan obligation (CLO), can be removed or replaced. This clause typically outlines specific triggers for termination, such as breaches of contract, insolvency, or failure to meet performance standards. By clearly specifying these events, the clause ensures that investors and other stakeholders have a mechanism to protect their interests if the collateral manager fails to perform adequately or acts improperly.
Collateral Manager Termination Event. As used herein, a “
View SourceView Similar (4)
Collateral Manager Termination Event. As used herein, a “Collateral Manager Termination Event” means any one of the following:
View SourceView Similar (4)
Collateral Manager Termination Event. No event has occurred and is continuing which constitutes a Collateral Manager Termination Event.
View SourceView Similar (4)
Collateral Manager Termination Event. A Collateral Manager Termination Event shall have occurred and be continuing past any applicable notice or cure period provided in the definition thereof;
View Source
Collateral Manager Termination Event. A Collateral Manager Termination Event shall have occurred and be continuing;
View Source

Related to Collateral Manager Termination Event

  • Servicer Termination Event For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

  • Servicer Termination Events For purposes of this Agreement, the occurrence and continuance of any of the following shall constitute a “Servicer Termination Event”: (a) Any failure by the Servicer to deposit into any Account any proceeds or payment required to be so delivered or to direct the Indenture Trustee to make the required payment from any Account under the terms of this Agreement that continues unremedied for a period of five Business days after written notice is received by the Servicer or after discovery of such failure by a Responsible Officer of the Servicer; (b) Failure on the part of the Servicer duly to observe or perform, in any material respect, any covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and adversely affects the rights of the Securityholders and (ii) continues unremedied for a period of 60 days after discovery of such failure by a Responsible Officer of the Servicer or after the date on which written notice of such failure requiring the same to be remedied shall have been given to the Servicer by any of the Owner Trustee, the Indenture Trustee or Noteholders evidencing not less than 50% of the Outstanding Amount of the Controlling Class of Notes; (c) If any representation or warranty of the Servicer, in its capacity as Servicer, made in this Agreement shall prove to be incorrect in any material respect as of the time when the same shall have been made and the incorrectness of such representation or warranty has a material adverse effect on the Issuer or the Noteholders and such failure continues unremedied for 90 days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or the Noteholders representing not less than 50% of the Outstanding Amounts of the Notes; or (d) The occurrence of an Insolvency Event with respect to the Servicer; provided, however, that a delay or failure of performance referred to under clause (a) above for a period of 10 days or clause (b) or (c) above for a period of 30 days will not constitute a Servicer Termination Event if such delay or failure was caused by force majeure or other similar occurrence.