Common use of Servicer Defaults Clause in Contracts

Servicer Defaults. 32 SECTION 8.02. Consequences of a Servicer Default........................................ 32 SECTION 8.03. Indenture Trustee to Act; Appointment of Successor........................ 33 SECTION 8.04. Notification to Securityholders........................................... 34 SECTION 8.05. Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35

Servicer Defaults. 32 26 SECTION 8.02. 5.02 Consequences of a Servicer Default........................................ 32 Default ...................... 27 SECTION 8.03. 5.03 COLT Indenture Trustee to Act; Appointment of Successor........................ 33 Successor ............................................... 27 SECTION 8.04. 5.04 Notification to Securityholders........................................... 34 the Series 200_-_ Further Holders and the Rating Agencies ......................................... 28 SECTION 8.05. 5.05 Waiver of Past Defaults................................................... 34 Servicer Defaults ........................ 28 SECTION 8.06. 5.06 Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35Outstanding Advances ....................... 28

Servicer Defaults. 32 19 SECTION 8.02. 7.02 Consequences of a Servicer Default........................................ 32 ....................................................20 SECTION 8.03. 7.03 Indenture Trustee to Act; Appointment of Successor........................ 33 ....................................21 SECTION 8.04. Notification to Securityholders........................................... 34 SECTION 8.05. 7.04 Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35...............................................................21

Servicer Defaults. 32 ----------------- SECTION 8.02. Consequences of a Servicer Default........................................ 32 ........................................... 33 ---------------------------------- SECTION 8.03. Indenture Trustee to Act; Appointment of Successor........................ ........................... 33 -------------------------------------------------- SECTION 8.04. Notification to Securityholders........................................... Financial Parties............................................ 34 --------------------------------- SECTION 8.05. Waiver of Past Defaults................................................... ...................................................... 34 ----------------------- SECTION 8.06. Repayment of Advances..................................................... ........................................................ 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35---------------------

Servicer Defaults. 32 26 SECTION 8.02. 5.02 Consequences of a Servicer Default........................................ 32 ....................... 27 SECTION 8.03. 5.03 COLT Indenture Trustee to Act; Appointment of Successor........................ 33 .. 28 SECTION 8.04. 5.04 Notification to Securityholders........................................... 34 the Series 2007-SN1 Further Holders and the Rating Agencies...................................... 28 SECTION 8.05. 5.05 Waiver of Past Servicer Defaults................................................... 34 ......................... 29 SECTION 8.06. 5.06 Repayment of Outstanding Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35........................ 29

Servicer Defaults. 32 24 SECTION 8.02. 7.02 Consequences of a Servicer Default........................................ 32 ...........................................24 SECTION 8.03. 7.03 Indenture Trustee to Act; Appointment of Successor........................ 33 ...........................25 SECTION 8.04. 7.04 Notification to Securityholders........................................... 34 ..............................................26 SECTION 8.05. Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 357.05

Servicer Defaults. 32 23 ----------------- SECTION 8.02. 7.02 Consequences of a Servicer Default........................................ 32 ....................................................24 ---------------------------------- SECTION 8.03. 7.03 Indenture Trustee to Act; Appointment of Successor........................ 33 ....................................25 -------------------------------------------------- SECTION 8.04. 7.04 Notification to Securityholders........................................... 34 .......................................................25 ------------------------------- SECTION 8.05. 7.05 Repayment of Advances.................................................................26 --------------------- SECTION 7.06 Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35...............................................................26 -----------------------

Servicer Defaults. 32 23 SECTION 8.02. 7.02 Consequences of a Servicer Default........................................ 32 ...............................................23 SECTION 8.03. 7.03 Indenture Trustee to Act; Appointment of Successor........................ 33 ...............................24 SECTION 8.04. 7.04 Notification to Securityholders........................................... 34 ..................................................25 SECTION 8.05. Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 357.05

Servicer Defaults. 32 25 SECTION 8.02. 5.02 Consequences of a Servicer Default........................................ 32 ............................................. 25 SECTION 8.03. 5.03 COLT Indenture Trustee to Act; Appointment of Successor........................ 33 26 SECTION 8.04. 5.04 Notification to Securityholders........................................... 34 the Series 200 - Further Holders and the Rating Agencies....................................................................... 26 SECTION 8.05. 5.05 Waiver of Past Servicer Defaults................................................... 34 ............................................... 27 SECTION 8.06. 5.06 Repayment of Outstanding Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35.............................................. 27

Servicer Defaults. 32 SECTION 8.02. Consequences of a Servicer Default........................................ ..................... 32 SECTION 8.03. Indenture Trustee to Act; Appointment of Successor........................ ..... 33 SECTION 8.04. Notification to Securityholders........................................... ........................ 34 SECTION 8.05. Waiver of Past Defaults................................................... ................................ 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35.................................. 34

Servicer Defaults. 32 25 SECTION 8.02. 5.02 Consequences of a Servicer Default........................................ 32 .......................................... 26 SECTION 8.03. 5.03 COLT Indenture Trustee to Act; Appointment of Successor........................ 33 ..................... 26 SECTION 8.04. 5.04 Notification to Securityholders........................................... 34 the Series 2005-SN1 Further Holders and the Rating Agencies............................................................. 27 SECTION 8.05. 5.05 Waiver of Past Servicer Defaults................................................... 34 ............................................ 27 SECTION 8.06. 5.06 Repayment of Outstanding Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35........................................... 27

Servicer Defaults. 32 SECTION 8.02. 24 Section 7.02 Consequences of a Servicer Default........................................ 32 SECTION 8.03. ..........................................................25 Section 7.03 Indenture Trustee to Act; Appointment of Successor........................ 33 SECTION 8.04. Notification to Securityholders........................................... 34 SECTION 8.05. Waiver of Past Defaults................................................... 34 SECTION 8.06. Repayment of Advances..................................................... 34 ARTICLE IX TERMINATION.......................................................................................... 34 SECTION 9.01. Optional Purchase of All Receivables...................................... 34 SECTION 9.02. Sale of Assets; Termination............................................... 35..........................................26