Common use of Agency Suspension Clause in Contracts

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA, then the Purchaser may immediately terminate this Agreement without assessment of any termination fee and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMAFNMA or FRANC, then the Purchaser may immediately terminate this Agreement without assessment of any termination fee and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.