The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 33 contracts
Sources: Loan and Servicing Agreement (SLR Investment Corp.), Loan and Servicing Agreement (SLR Investment Corp.), Ninth Amendment to the Loan and Servicing Agreement (SLR Senior Investment Corp.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 18 contracts
Sources: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Ares Capital Corp), Sale and Servicing Agreement (MCG Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 14 contracts
Sources: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 12 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 10 contracts
Sources: Revolving Credit and Security Agreement (Ares Strategic Income Fund), Revolving Credit and Security Agreement (Blackstone Secured Lending Fund), Revolving Credit and Security Agreement (Blackstone Secured Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 10 contracts
Sources: Loan and Servicing Agreement (Ares Capital Corp), Loan and Servicing Agreement (Ares Capital Corp), Loan and Servicing Agreement (Ares Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion or memorandum of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 9 contracts
Sources: Revolving Credit and Security Agreement (T Series Middle Market Loan Fund LLC), Revolving Credit and Security Agreement (T Series Middle Market Loan Fund LLC), Revolving Credit and Security Agreement (Morgan Stanley Direct Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 8 contracts
Sources: Loan and Servicing Agreement (FS KKR Capital Corp), Loan and Servicing Agreement (FS KKR Capital Corp), Loan and Servicing Agreement (FS KKR Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Lenders, the Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 8 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Deal Agent, the Collateral Agent, the Lenders and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 7 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 7 contracts
Sources: Loan and Servicing Agreement (Diameter Credit Co), Loan and Servicing Agreement (Overland Advantage), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No To the extent permissible and in accordance with Applicable Law, no such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02the terms of this Agreement.
Appears in 5 contracts
Sources: Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 5 contracts
Sources: Loan and Servicing Agreement (BlackRock TCP Capital Corp.), Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.), Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender the Collateral Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 5 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Subject to Section 12.04, the Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) by mutual consent of the performance of Servicer and Owner, (ii) upon the determination that its duties hereunder is or becomes impermissible are no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that such incapacity cannot be cured by the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any (any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion opinion of Counsel counsel to such effect delivered to Owner), (iii) following any breach of this Agreement by Owner, or (iv) in connection with a sale of substantially all of the Administrative Agent and each Lender Agentassets of the Servicer. No such resignation shall become effective until a Replacement Servicer successor shall have assumed the Servicer’s responsibilities and obligations of hereunder in the Servicer manner provided in accordance with Section 6.0212.01.
Appears in 4 contracts
Sources: Master Servicing Agreement (Sequoia Mortgage Trust 2007-3), Master Servicing Agreement (Sequoia Mortgage Trust 2007-1), Master Servicing Agreement (Sequoia Mortgage Trust 2007-2)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 4 contracts
Sources: Loan and Servicing Agreement (Diameter Credit Co), Loan and Servicing Agreement (AG Twin Brook Capital Income Fund), Loan and Servicing Agreement (AGTB Private BDC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 4 contracts
Sources: Loan and Servicing Agreement (Onex Direct Lending BDC Fund), Loan and Servicing Agreement (Fifth Street Finance Corp.), Loan and Servicing Agreement (Fifth Street Finance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 4 contracts
Sources: Receivables Purchase Agreement (Resource America Inc), Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (American Business Financial Services Inc /De/)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02Lender.
Appears in 4 contracts
Sources: Revolving Credit and Security Agreement (KKR FS Income Trust Select), Revolving Credit and Security Agreement (Barings Private Credit Corp), Revolving Credit and Security Agreement (Blackstone Private Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause based on advise of counsel (i) above by an Opinion a copy of Counsel to such effect which shall be delivered to the Administrative Agent and each Lender Agent). No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 3 contracts
Sources: Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Trustee and Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 3 contracts
Sources: Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 3 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corporation), Loan and Security Agreement (Credit Acceptance Corporation), Loan and Security Agreement (Credit Acceptance Corporation)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Lenders, the Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 2 contracts
Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 2 contracts
Sources: Loan and Servicing Agreement (North Haven Private Income Fund LLC), Loan and Servicing Agreement (North Haven Private Income Fund LLC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 2 contracts
Sources: Loan and Servicing Agreement (BlackRock TCP Capital Corp.), Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 2 contracts
Sources: Secured Loan and Servicing Agreement (NewStar Financial, Inc.), Secured Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause based on advice of counsel (i) above by an Opinion a summary of Counsel to such effect which shall be delivered to the Administrative Agent and each Lender Agent). No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 2 contracts
Sources: Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s good faith determination in consultation with legal counsel that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any In connection with any such determination permitting the resignation of the Servicer, the Servicer shall be evidenced as deliver to clause (i) above by an Opinion the Facility Agent and the Borrower a description of Counsel the circumstances giving rise to such effect delivered to the Administrative Agent and each Lender Agentdetermination. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 2 contracts
Sources: Loan and Security Agreement (North Haven Private Income Fund LLC), Loan and Security Agreement (North Haven Private Income Fund LLC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s good faith determination in consultation with legal counsel that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any In connection with any such determination permitting the resignation of the Servicer, the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered deliver to the Administrative Agent and each Lender Agent. No such resignation shall become effective until the Borrower a Replacement Servicer shall have assumed the responsibilities and obligations description of the Servicer in accordance with Section 6.02circumstances giving rise to such determination.
Appears in 2 contracts
Sources: Loan and Security Agreement (Blue Owl Credit Income Corp.), Loan and Security Agreement (Owl Rock Core Income Corp.)
The Servicer Not to Resign. The Servicer Servicer, so long as it shall be an Affiliate of the Borrower, shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No Subject to Applicable Law, no such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel a certificate to such effect delivered to the Borrower, the Administrative Agent and each Lender Managing Agent. No To the extent permissible and in accordance with Applicable Law, no such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 1 contract
The Servicer Not to Resign. The Except as specifically -------------------------- authorized pursuant to Section 6.02 above, the Servicer shall not resign from the obligations and duties hereby imposed on it it, except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is are no reasonable action that the Servicer could take to make the performance of its duties hereunder longer permissible under Applicable Lawapplicable law or are in material conflict by reason of applicable law with any other activities carried on by it. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentTrustee. No such resignation shall become effective until the Trustee or a Replacement Servicer successor servicer shall have assumed the Servicer's responsibilities and obligations of the Servicer in accordance with Section 6.027.05 hereof.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ba Mortgage Securities Inc/)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and Agent, each Lender Agentand the Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2 and Section 6.19.
Appears in 1 contract
Sources: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that the Servicer could take which can be taken to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (i) above hereof shall be evidenced by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Collateral Agent. No such resignation shall become be effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0210.02 hereof.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.effective
Appears in 1 contract
Sources: Loan and Servicing Agreement (Fifth Street Finance Corp.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause based on advice of counsel (i) above by an Opinion a copy of Counsel to such effect which shall be delivered to the Administrative Agent and each Lender Agent). No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 1 contract
Sources: Loan and Servicing Agreement (AMG Comvest Senior Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Sources: Loan Certificate and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (iib) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 1 contract
Sources: Receivables Credit Agreement (Fidelity Leasing Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Deal Agent, the Collateral Agent, the Backup Servicer and each Lender AgentRFC. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 1 contract
Sources: Loan and Security Agreement (Credit Acceptance Corporation)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.. |US-DOCS\148390876.14||
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect USActive 51774144.2053776213.6-117- delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Lender Agent and each Lender Agentthe Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2 and Section 6.19.
Appears in 1 contract
Sources: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Subject to Section 6.23, the Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Deal Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.26.
Appears in 1 contract
Sources: Loan Funding and Servicing Agreement (Healthcare Financial Partners Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Lender Agent and each Lender Agentthe Trustee and Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Sources: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, the Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Sources: Loan Certificate and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Bankvest Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.11.01(c). USActive 53852035.1153852035.14.docx -126-
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (OFS Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (ia) above shall be made by an Opinion written advice of Counsel to such effect delivered to the Administrative Agent and each Lender Agentcounsel. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.
Appears in 1 contract
Sources: Loan and Servicing Agreement (Apollo Debt Solutions BDC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the its performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the its performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as by an Opinion of Counsel with respect to clause (i) above by an Opinion of Counsel to such effect above, delivered to the Administrative Agent and each Lender AgentTrustee. No such resignation shall become effective until the Trustee or a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the resigning Servicer in accordance with Section 6.02.100
Appears in 1 contract
Sources: Master Trust Indenture and Security Agreement (Sirrom Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, each Managing Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 1 contract
Sources: Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that the Servicer could take which can be taken to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (i) above hereof shall be evidenced by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Collateral Agent. No such resignation shall become be effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.02 hereof.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s good faith determination in consultation with legal counsel that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any In connection with any such determination permitting the resignation of the Servicer, the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered deliver to the Administrative Agent and each Lender Agenta description of the circumstances giving rise to such determination. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.13.
Appears in 1 contract
Sources: Loan and Security Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not -------------------------- resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentTrustee. No such resignation shall become effective until the Trustee or a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0210.02 of the Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Chicago Master Trust Ii)