Removal of Custodian. The Trustee, with or without cause, may (but is not obligated to, unless requested to do so by a majority of Certificateholders) (i) require the Custodian to complete the endorsements on the Mortgage Notes and to complete and record the Assignments of Mortgage (in either case, at no expense to the Custodian), and/or (ii) upon at least 45 days' notice remove and discharge the Custodian from the performance of its duties under this Agreement by written notice from the Trustee to the Custodian. Having given notice of such removal, the Trustee promptly shall appoint a successor Custodian (and if the Custodian is removed at the direction of a majority of Certificateholders such successor shall be selected by such majority) to act on behalf of the Trustee by written instrument, one original counterpart of which instrument shall be delivered to the Trustee, with an original to the successor Custodian. In addition, the Trustee may terminate the Custodian upon written notice with respect to some or all of the Mortgage Loans upon the sale or other transfer of such Mortgage Loans to a subsequent purchaser. In the event of any removal, the Custodian shall, at the expense of the Trust, promptly transfer to the successor custodian or subsequent purchaser, as directed, all Custodial Files being administered under this Agreement relating to such Mortgage Loans, and shall assign the Mortgages and endorse the Mortgage Notes to the successor Custodian or subsequent purchaser if the endorsements on the Mortgage Notes and the Assignments of Mortgages have been completed in the name of the Custodian.
Removal of Custodian. The Trustee, with or without cause, may upon at least 60 days’ notice remove and discharge the Custodian from the performance of its duties under this Agreement by written notice from the Trustee to the Custodian, with a copy to the Servicer. Having given notice of such removal, the Trustee promptly shall appoint (at the direction of the Depositor and with the consent of the Servicer) a successor Custodian to act on behalf of the Trustee by written instrument, one original counterpart of which instrument shall be retained by the Trustee, with a copy to the Servicer, and an original to the successor Custodian. In the event of any such removal, the Custodian shall, upon the Trustee’s surrender of the Trust Receipt and Initial Certifications and Final Trust Receipt, as applicable, promptly transfer to the successor Custodian, as directed, all Custodial Files being administered under this Agreement. In the event of any such removal and appointment the Trust Fund shall be responsible for the fees and expenses of the existing and successor Custodian.
Removal of Custodian. The Trustee with or without cause, may upon at least 60 days' notice remove and discharge the Custodian from the performance of its duties under this Custodial Agreement by written notice from the Trustee to the Custodian. Having given notice of such removal, the Trustee, promptly shall appoint a successor Custodian (which may be the Trustee or an affiliate of the Trustee) to act on behalf of the Trustee by written instrument, one original counterpart of which instrument shall be delivered to the Trustee and an original to the successor Custodian. In the event of any such removal, the Custodian shall promptly transfer to the successor Custodian, as directed, all Custodial Files being administered under this Custodial Agreement. In the event of any such appointments the Trustee shall be responsible for the fees and expenses of the existing and successor Custodian, unless the Custodian shall be removed for cause, in which case such fees and expenses shall be the responsibility of the removed custodian. If the Trustee removes the Custodian without cause, the Trustee shall be responsible for payment of all expenses incurred in the transmission of the Custodial Files to the successor Custodian and for all applicable release fees of the Custodian.
Removal of Custodian. (a) The Agent or the Borrower, upon (i) at least thirty (30) days prior written notice to the Custodian and the other party, may remove and discharge the Custodian (or any successor custodian thereafter appointed), with cause, and (ii) at least sixty (60) days prior written notice to the Custodian and the other party, and with the consent of the other party (which consent shall not be unreasonably withheld), may remove and discharge the Custodian (or any successor custodian thereafter appointed), without cause, from the performance of its obligations under this Custodial Agreement; provided, that, if a Default or an Event of Default has occurred and is continuing, (Y) the Borrower’s consent shall not be required as a condition to Agent’s removing or discharging the Custodian without cause, and (Z) the Borrower shall have no right to remove or discharge the Custodian without cause. Promptly after the giving of notice of removal of the Custodian, the Agent shall appoint, by written instrument, a successor custodian, which appointment shall, unless a Default or an Event of Default has occurred and is continuing, require the consent of the Borrower, which consent shall not be unreasonably withheld. One original counterpart of such instrument of appointment shall be delivered to each of the Agent, the Borrower, the Custodian and the successor custodian.
Removal of Custodian. 6 11. Transfer of Custodial Files............................................6 12. Examination of Custodial Files.........................................6
Removal of Custodian. Company may upon at least 30 days' notice remove and discharge Custodian from the performance of its duties under this Agreement by written notice from Company to Custodian, with a copy to Servicer. In the event of any such removal, Custodian shall promptly transfer to Company, or as otherwise directed by the Company, the Mortgage File. Such removal of Custodian shall not affect the obligations and duties of Servicer under the Servicing Agreement.
Removal of Custodian. Upon at least 45 days' prior written notice to the Custodian, and only for cause, the Purchaser may remove and discharge the Custodian from the performance of its duties under this Agreement. Having given notice of such removal, the Purchaser promptly shall appoint a successor Custodian to act on behalf of the Purchaser by written instrument, one original counterpart of which instrument shall be delivered to the Custodian. Any termination by the Purchaser shall be accompanied or followed promptly by proper instructions in writing setting forth the names of the persons to whom the Custodian shall deliver the Additional Collateral. The Custodian will deliver promptly the Additional Collateral to the persons so specified, after deducting therefrom any amounts which the Custodian is owed for services or reimbursement of expenses hereunder. The Purchaser shall be responsible for the fees of the successor Custodian.
Removal of Custodian. The Trustee or DLJMC with or without cause, may upon at least 60 days' notice remove and discharge the Custodian from the performance of its duties under this Custodial Agreement by written notice from the Trustee to the Custodian, with a copy to DLJMC. Having given notice of such removal, DLJMC, with the consent of the Trustee, promptly shall appoint a successor Custodian (which may be the Trustee or an affiliate of the Trustee) to act on behalf of the Trustee by written instrument, one original counterpart of which instrument shall be delivered to the Trustee, with a copy to DLJMC and an original to the successor Custodian. In the event of any such removal, the Custodian shall promptly transfer to the successor Custodian, as directed, all Custodial Files being administered under this Custodial Agreement. In the event of any such appointments DLJMC shall be responsible for the fees and expenses of the existing and successor Custodian. If the Trustee removes the Custodian without cause, the Trustee shall be responsible for payment of all expenses incurred in the transmission of the Custodial Files to the successor Custodian and for all applicable release fees of the Custodian. If DLJMC removes the Custodian, DLJMC shall be responsible for payment of all expenses incurred in the transmission of the Custodial Files to the successor Custodian and for all applicable release fees of the Custodian.
Removal of Custodian. Subject to Section 22 regarding appointment of a successor Xxxxxxxxx, the Indenture Trustee, with or without cause, may remove and discharge the Custodian from the performance of its duties under this Agreement by written notice from the Indenture Trustee to the Custodian (with sixty days' prior written notice, in the case of termination without cause), with a copy to the Trust and to the Servicer. Two days prior to the effective date of such removal, the Indenture Trustee shall notify the Servicer in writing of the successor Xxxxxxxxx's name, address, contact information and telephone number.
Removal of Custodian. Section 14.
