Common use of Retention and Termination of the Servicer Clause in Contracts

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31, 1999 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31September 30, 1999 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March December 31, 1999 (the "Initial Term"). Thereafter1996, the Initial Term which term shall be extendible extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the sole discretion of Certificate Insurer from time to time to the Note Insurer by written Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such notice (eachincluding each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of delivered by the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms Trustee shall be promptly delivered by the Trustee to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall be bound become bound, for the duration of the Initial Term and the term covered by any such Servicer Extension Notice Notice, to act continue as the Servicer, Servicer subject to and in accordance with the other provisions of this Agreement. The Servicer Trustee agrees that if, if as of the fifteenth day prior to the last day of any such servicing term, term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicableCertificate Insurer, the Servicer shallTrustee will, within five (5) 5 days thereafter, give written notice of such non-receipt nonreceipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31June 30, 1999 (the "Initial Term"). Thereafter1997, the Initial Term which term shall be extendible extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the sole discretion Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Final Scheduled Maturity Date of the Note Insurer by written Class A-3 Certificates. Each such notice (eachincluding each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of delivered by the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms Trustee shall be promptly delivered by the Trustee to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall be bound become bound, for the duration of the Initial Term and the term covered by any such Servicer Extension Notice Notice, to act continue as the Servicer, Servicer subject to and in accordance with the other provisions of this Agreement. The Servicer Trustee agrees that if, if as of the fifteenth day prior to the last day of any such servicing term, term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicableCertificate Insurer, the Servicer shallTrustee will, within five (5) 5 days thereafter, give written notice of such non-receipt nonreceipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March December 31, 1999 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31September 30, 1999 1998 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Certificate Insurer by written notice (each, a "Servicer Extension Notice") of the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Certificate Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, Notice (if any, ) shall be delivered by the Note Certificate Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, Notice the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Certificate Insurer (or Indenture Trustee, as applicable), the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Certificate Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31, 1999 _______ (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Certificate Insurer by written notice (each, a "Servicer Extension Notice") of the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Certificate Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, Notice (if any, ) shall be delivered by the Note Certificate Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, Notice the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Certificate Insurer (or Indenture Trustee, as applicable), the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Certificate Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31, 1999 _________ (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31September 30, 1999 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee)) to the Servicer, for any specified number of three (3) three-month terms to the Servicerterms. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer (or Indenture Trustee, as applicable), the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer; provided, that, if a Note Insurer Default has occurred and is continuing, the term of the Servicer shall automatically be extended until such time as the Note Insurer Default has been cured. The Servicer may not resign from its obligations and duties as Servicer hereunder, except (i) with the prior written consent of the Controlling Party or (ii) upon a determination that the Servicer's performance of such duties is no longer permissible under applicable law. Any such determination permitting the resignation of the Servicer shall be evidenced by an opinion of independent counsel, in form and substance reasonably satisfactory to the Note Insurer, to such effect delivered to the Indenture Trustee and the Note Insurer. No such resignation will become effective until the Back-up Servicer, or a successor thereto has assumed the Servicer's servicing obligations and duties under this Agreement in accordance with the terms hereof.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31June 30, 1999 (the "Initial Term")1998. Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Certificate Insurer by written notice (each, a "Servicer Extension Notice") of the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered from time to time to the Indenture Trustee)Servicer, for any specified number of three (3) month terms to the Servicerterms). Each such Servicer Extension Notice, Notice (if any, ) shall be delivered by the Note Certificate Insurer (or the Indenture Trustee, as applicable,) , to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, Notice the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth last day prior to of the calendar month preceeding the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Certificate Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Certificate Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March December 31, 1999 1998 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Certificate Insurer by written notice (each, a "Servicer Extension Notice") of the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Certificate Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, Notice (if any, ) shall be delivered by the Note Certificate Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, Notice the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Certificate Insurer (or Indenture Trustee, as applicable), the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Certificate Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31, 1999 2000 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March 31June 30, 1999 (the "Initial Term"). Thereafter, the Initial Term shall be extendible in the sole discretion of the Note Insurer by written notice (each, a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any Servicer Extension Notice, the Servicer shall be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice to act as the Servicer, subject to and in accordance with the other provisions of this Agreement. The Servicer agrees that if, as of the fifteenth day prior to the last day of any such servicing term, the Servicer shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicable, the Servicer shall, within five (5) days thereafter, give written notice of such non-receipt to the Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as Servicer servicer under this Agreement for an initial term commencing on the Closing Date and expiring on March December 31, 1999 (the "Initial Term"). Thereafter1997, the Initial Term which term shall be extendible extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the sole discretion Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Final Scheduled Maturity Date of the Note Insurer by written Class A-6 Certificates. Each such notice (eachincluding each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of delivered by the Note Certificate Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms Trustee shall be promptly delivered by the Trustee to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Note Insurer (or the Indenture Trustee, as applicable,) to the other parties to this Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall be bound become bound, for the duration of the Initial Term and the term covered by any such Servicer Extension Notice Notice, to act continue as the Servicer, Servicer subject to and in accordance with the other provisions of this Agreement. The Servicer Trustee agrees that if, if as of the fifteenth day prior to the last day of any such servicing term, term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Note Insurer or Indenture Trustee, as applicableCertificate Insurer, the Servicer shallTrustee will, within five (5) 5 days thereafter, give written notice of such non-receipt nonreceipt to the Note Certificate Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.