Common use of Action Upon Certain Failures of the Master Servicer and Upon Event of Default Clause in Contracts

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities Administrator, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Cap Counterparty and the Swap Counterparty. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer Servicer, the Swap Counterparty or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master ServicerServicer and the Swap Counterparty. For Notwithstanding anything to the contrary provided herein, and for all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer or the Certificateholdersa Certificateholder.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer and the Swap Counterparty. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer Servicer, the Swap Counterparty, the NIMS Insurer or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, the Certificate Insurer, any NIMS Insurer, the Cap Counterparty and Swap Counterparty, as applicable. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Certificate Insurer, the Master Servicer or the Certificateholders.. 148

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Certificate Insurer, the Cap Counterparty and the Swap Counterparty. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer Servicer, the Certificate Insurer, the Swap Counterparty or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Cap Counterparty and Swap Counterparty, as applicable. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Cap Counterparty and Swap Counterparty, as applicable. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer or the Certificateholders.. 183

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Swap Counterparty and the Cap Counterparty. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer Servicer, the Swap Counterparty, the Cap Counterparty, the NIMS Insurer or the Certificateholders.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Swap Counterparty, the Group 1 Cap Counterparty and the Group 2 Cap Counterparty. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee or the Securities AdministratorTrustee, the Trustee or the Securities Administrator, as applicable, shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer Servicer, the Swap Counterparty, the Group 1 Cap Counterparty, the Group 2 Cap Counterparty or the Certificateholders.