Subservicer Event of Default definition

Subservicer Event of Default. Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Subservicer.

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Subservicer Event of Default. As defined in Section 6.01.

Subservicer Event of Default means each of the occurrences or circumstances enumerated in Section 7.02 hereof.

Examples of Subservicer Event of Default in a sentence

The Master Servicer shall promptly notify the Servicer at any time that the Master Servicer obtains actual knowledge of the occurrence of a Subservicer Event of Default.
The Servicer shall have the right, but not the obligation, to terminate all the rights and obligations of the Subservicer under this Agreement and in and to the servicing contract established hereby and the proceeds thereof if a Subservicer Event of Default shall have occurred.
In the event that the Subservicer is terminated hereunder due to the occurrence of a Subservicer Event of Default, the Subservicer shall transfer servicing with respect to the Mortgage Loans to the Servicer or any successor subservicer in accordance with the Servicer’s or such successor subservicer’s servicing transfer procedures.
Any failure to obtain any required waivers or approvals shall constitute a Subservicer Event of Default under Section 4(a)(iv) of this agreement.
The Servicer shall have the right, but not the obligation, to terminate all the rights and obligations of the Subservicer under this Agreement and in and to the servicing contract established hereby and the proceeds thereof if a Subservicer Event of Default or Subservicer Termination Event shall have occurred.
If a Servicer Event of Default, a Subservicer Event of Default, a Cash Accumulation Event or a Trigger Event has occurred, the reasonable costs of providing the foregoing shall be borne by the Servicer; otherwise, the Person seeking the foregoing shall pay its, his or her own expenses relating to the foregoing.
The Subservicer shall promptly notify the Servicer, the Issuer and the Trustee of any Subservicer Event of Default upon actual knowledge thereof by the Subservicer.
In the event that the Subservicer is terminated hereunder due to the occurrence of a Subservicer Event of Default or a Subservicer Termination Event, the Subservicer shall transfer servicing with respect to the Mortgage Loans to the Servicer or any successor subservicer in accordance with the Servicer’s or such successor subservicer’s servicing transfer procedures.
Upon discovery by the Subservicer of any Subservicer Event of Default (regardless of whether any notice has been given as provided in this Agreement or any cure period provided in this Agreement has expired), the Subservicer shall give prompt written notice thereof to KRECM.
The Subservicer will promptly notify the Master Servicer upon the occurrence of a Subservicer Event of Default.

More Definitions of Subservicer Event of Default

Subservicer Event of Default shall have the meaning set forth in Section 9.1.

Subservicer Event of Default means for any Subservicing Agreement, an event as defined therein pursuant to which the Subservicer's right to service Financed Student Loans thereunder is subject to termination or removal.

Subservicer Event of Default shall have the meaning ascribed thereto in the Subservicing Agreement;

Subservicer Event of Default. Either of (a) any one of the events, conditions or circumstances enumerated in Section 7.1(a) of the Transfer and Servicing Agreement; provided that references to "Servicer" in such Section shall be deemed to be references to "Subservicer" for the purposes of this Agreement, or (b) receipt of notice from LBB of the occurrence of an Event of Default (as defined in the Subservicing Advance Agreement) under the Subservicing Advance Agreement.

Subservicer Event of Default has the meaning given such term in Section 4 hereof. Subsidiary: shall mean any corporation, association or other business entity in which more than 50% of the total voting power or shares of stock entitled to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more of the other Subsidiaries of that Person or a combination thereof.

Subservicer Event of Default. Any one of the events, conditions or circumstances enumerated in Section 7.1(a) of the Pooling and Servicing Agreement; provided that references to “Servicer” in such Section shall be deemed to be references to “Interim Subservicer” for the purposes of this Agreement.

Related to Subservicer Event of Default

Servicer Event of Default One or more of the events described in Section 7.01.
Master Servicer Event of Default One or more of the events described in Section 7.01.
Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.
Issuer Event of Default means the occurrence of any of the following events:
Collateral Event of Default has the meaning set forth in Section 13.01(b).

Related to Subservicer Event of Default

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