Common use of Required Termination Clause in Contracts

Required Termination. If a court of competent jurisdiction or Government Authority issues a final non-appealable order or judgment holding that all or part of the Agreement or all or a part of the Services offered under the Agreement are in violation of any Law (each, a “Judgment”), the affected party has the right to terminate those portions of the Agreement that are part of such Judgment by providing the other party with written notice of its intent to terminate such portions of the Agreement, and subject to Section II.E, such termination of such portions of the Agreement will be effective as of the date specified in such notice.

Appears in 370 contracts

Samples: Servicing Agreement (UBS Commercial Mortgage Trust 2018-C13), Servicing Agreement (Benchmark 2020-Ig1 Mortgage Trust), Servicing Agreement (Sequoia Mortgage Trust 2013-8)

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Required Termination. If a court of competent jurisdiction or Government Authority issues a final non-appealable order or judgment holding that all or part of the Agreement or all or a part of the Services offered under the Agreement are in violation of any Law (each, a “Judgment”), the affected party has the right to terminate those portions of the Agreement that are part of such Judgment by providing the other party with written notice of its intent to terminate such portions of the Agreement, and subject to Section II.E, such termination of such portions of the Agreement will be effective as of the date specified in such notice.. D.

Appears in 4 contracts

Samples: Servicing Agreement (Navient Student Loan Trust 2015-1), Servicing Agreement (Navient Student Loan Trust 2015-2), Servicing Agreement (Exeter Automobile Receivables Trust 2021-2)

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Required Termination. If a court of competent jurisdiction or Government Authority issues a final non-appealable order or judgment holding that all or part of the Agreement or all or a part of the Services offered under the Agreement are in violation of any Law (each, a "Judgment"), the affected party has the right to terminate those portions of the Agreement that are part of such Judgment by providing the other party with written notice of its intent to terminate such portions of the Agreement, and subject to Section II.E, such termination of such portions of the Agreement will be effective as of the date specified in such notice.

Appears in 1 contract

Samples: Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5)

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