Servicing Termination Notice. The Borrower hereby agrees that, upon the occurrence, and during the continuation, of an Event of Default (unless waived in accordance with Section 10.01 hereof), the Administrative Agent, by written notice to the Borrower (a “Servicing Termination Notice”), may (and shall, upon the direction of the Majority Lenders) terminate the Loan Asset Servicing by the Borrower under this Agreement. On and after the receipt by the Borrower of a Servicing Termination Notice pursuant to this Section 6.01(b), the Borrower shall continue to perform all Loan Asset Servicing under this Agreement until the date specified in the Servicing Termination Notice or otherwise specified by the Administrative Agent in writing or, if no such date is specified in such Servicing Termination Notice or otherwise specified by the Administrative Agent, until a date mutually agreed upon by the Borrower and the Administrative Agent. After such date, the Borrower agrees that it will terminate its Loan Asset Servicing hereunder in a manner that the Administrative Agent believes will facilitate the transition of the performance of such activities to a successor Person, and the successor Person shall assume the Loan Asset Servicing on the terms and subject to the conditions herein set forth, and the Borrower shall use its best efforts to assist such successor Person in assuming such obligations. Such successor to the its Loan Asset Servicing shall have no liability or obligation with respect to any Borrower indemnification obligations. The Borrower shall have no liability with respect to any action performed by any such replacement after the date that such replacement takes over the Loan Asset Servicing or any claim of a third party based on any alleged action or inaction of such Person.
