Eligible Subservicer. Except with respect to FMC, the failure at any time to have a Person satisfying the definition of “Eligible Subservicer” obligated to perform the duties of Eligible Subservicer with respect to Mortgage Loans and related property originated by FIC. An Event of Default shall be deemed to be continuing unless expressly waived by Administrative Agent in writing.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Fieldstone Investment Corp), Master Repurchase Agreement (Fieldstone Investment Corp)