Servicing Default. If any one of the following events ("Servicing Default") shall occur and be continuing:
Servicing Default. If any one of the following events (each, a "Servicing Default") shall occur and be continuing:
Servicing Default. (a) If a Servicing Default shall occur and be continuing, then, and in every such case, so long as a Servicing Default shall not have been remedied by the Servicer, either the Issuer or the Indenture Trustee, upon actual knowledge of the occurrence of a Servicing Default (in each case with the consent of the Enhancer so long as no Enhancer Default exists), or the Enhancer, by notice then given in writing to the Servicer, the Issuer and the Indenture Trustee, may terminate all of the rights and obligations of the Servicer as servicer under this Agreement other than its right to receive servicing compensation and expenses for servicing the Mortgage Loans hereunder during any period prior to the date of such termination, and the Enhancer or the Issuer or the Indenture Trustee (in each case with the consent of the Enhancer so long as no Enhancer Default exists), may exercise any and all other remedies available at law or equity. Any such notice to the Servicer shall also be given to each Rating Agency, the Enhancer and the Issuer. On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Securities or the Mortgage Loans or otherwise, shall pass to and be vested in the Indenture Trustee, subject to Section 7.02 hereof, as pledgee of the Mortgage Loans, pursuant to and under this Section 7.01; and, without limitation, the Indenture Trustee is hereby authorized and empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of each Mortgage Loan and related documents, or otherwise. The Servicer agrees to cooperate with the Issuer, the Enhancer and Indenture Trustee, as the case may be, in effecting the termination of the responsibilities and rights of the Servicer hereunder, including, without limitation, the transfer to the Indenture Trustee for the administration by it of all cash amounts relating to the Mortgage Loans that shall at the time be held by the Servicer and to be deposited by it in the Custodial Account, or that have been deposited by the Servicer in the Custodial Account or thereafter received by the Servicer with respect to the Mortgage Loans, the recordation of Assignments of Mortgages to the Indentu...
Servicing Default. 30 Section 7.02. Indenture Trustee to Act; Appointment of Successor....................32 Section 7.03. Notification to Securityholders.......................................33
Servicing Default. ..26 Section 7.02. INDENTURE TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR..........................28 Section 7.03.
Servicing Default. Section 6.02 Indenture Trustee to Act; Appointment of Successor
Servicing Default. 35 Section 6.02 Indenture Trustee to Act; Appointment of Successor...............................37 Section 6.03 Notification to Bondholders......................................................39 Section 6.04
Servicing Default. ..26 Section 7.02. INDENTURE TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR.............................................28 Section 7.03.
Servicing Default. 25 Section 7.02 Indenture Trustee to Act; Appointment of Successor............27 Section 7.03
Servicing Default. If any one of the following events (each, a AServicing Default”) shall occur and be continuing:
