Common use of Servicing Termination Clause in Contracts

Servicing Termination. The Seller, the Trust, the Trust Collateral Agent, the Class A Insurer and the Backup Insurer hereby appoint Credit Acceptance as servicer hereunder and Credit Acceptance hereby accepts such appointment and agrees to manage, collect and administer each of the Dealer Loans as Servicer. Credit Acceptance shall be retained as Servicer for an initial twelve (12) month term commencing on the Closing Date. Upon the expiration of such twelve (12) month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may, at its option, renew the term of Credit Acceptance as Servicer for a subsequent term of three (3) months. Upon the expiration of any three month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may at its option, renew the term of Credit Acceptance as Servicer for an additional three (3) month term. If the Controlling Party does not renew any such servicing term in writing, the servicing term of Credit Acceptance shall automatically expire. If both a Class A Insurer Default and a Backup Insurer Default have occurred and are continuing, and the twelve (12) month or any three (3) month servicing term, as the case may be, has not previously expired and thereafter expires, Credit Acceptance shall continue as Servicer unless and until it is terminated after the occurrence of a Servicer Default. Upon the occurrence of a Servicer Default, the Controlling Party shall have the rights set forth in Section 8.01 hereof. Notwithstanding anything herein to the contrary, the provisions of this Section 4.01(a) shall not apply to the Backup Servicer after it has become the successor Servicer.

Servicing Termination. The Seller, the Trust, the Trust Collateral Agent, the Class A Insurer and the Backup Insurer hereby appoint Credit Acceptance as servicer Servicer hereunder and Credit Acceptance hereby accepts such appointment and agrees to manage, collect and administer each of the Dealer Loans as Servicer. Credit Acceptance shall be retained as Servicer for an initial twelve (12) month term commencing on the Closing Date. Upon the expiration of such twelve (12) month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may, at its option, renew the term of Credit Acceptance as Servicer for a subsequent term of three (3) months. Upon the expiration of any three month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may at its option, renew the term of Credit Acceptance as Servicer for an additional three (3) month term. If the Controlling Party does not renew any such servicing term in writing, the servicing term of Credit Acceptance shall automatically expire. If both a Class A Insurer Default and a Backup Insurer Default have occurred and are continuing, and the twelve (12) month or any three (3) month servicing term, as the case may be, has not previously expired and thereafter expires, Credit Acceptance shall continue as Servicer unless and until it is terminated after the occurrence of a Servicer Default. Upon the occurrence of a Servicer Default, the Controlling Party shall have the rights set forth in Section 8.01 hereof. Notwithstanding anything herein to the contrary, the provisions of this Section 4.01(a) shall not apply to the Backup Servicer after it has become the successor Servicer.

Servicing Termination. The Seller, the Trust, the Trust Collateral Agent, Agent (at the direction of the Class A Insurer Insurer) and the Backup Class A Insurer hereby appoint Credit Acceptance as servicer Servicer hereunder and Credit Acceptance hereby accepts such appointment and agrees to manage, collect and administer each of the Dealer Loans as Servicer. Credit Acceptance shall be retained as Servicer for an initial twelve (12) month term commencing on the Closing Date. Upon the expiration of such twelve (12) month term, the Controlling PartyClass A Insurer, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party Agencies and the Backup Servicer, may, at its option, renew the term of Credit Acceptance as Servicer for a subsequent term of six (6) months; provided, however, if a Servicer Default occurs and the Servicer is not terminated pursuant to Section 8.01 hereof, then the Class A Insurer may renew the term of Credit Acceptance as the Servicer for a subsequent term of three (3) months. Upon the expiration of any three (3) month term, the Controlling PartyClass A Insurer, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party Agencies and the Backup Servicer, may at its option, renew the term of Credit Acceptance as Servicer for an additional three (3) month term. If the Controlling Party Class A Insurer does not renew any such servicing term in writing, the servicing term of Credit Acceptance shall automatically expire. If both a Class A Insurer Default and a Backup Insurer Default have has occurred and are is continuing, and the twelve (12) month, six (6) month or any three (3) month servicing term, as the case may be, has not previously expired and thereafter expires, Credit Acceptance shall continue as Servicer unless and until it is terminated after the occurrence of a Servicer Default. Upon the occurrence of a Servicer Default, the Controlling Party Class A Insurer shall have the rights set forth in Section 8.01 hereof. Notwithstanding anything herein to the contrary, the provisions of this Section 4.01(a) shall not apply to the Backup Servicer after it has become the successor Servicer.

Servicing Termination. The Seller, the Trust, the Trust Collateral Agent, Agent (at the direction of the Class A Insurer Insurer) and the Backup Class A Insurer hereby appoint Credit Acceptance as servicer Servicer hereunder and Credit Acceptance hereby accepts such appointment and agrees to manage, collect and administer each of the Dealer Loans as Servicer. Credit Acceptance shall be retained as Servicer for an initial twelve (12) month term commencing on the Closing Date. Upon the expiration of such twelve (12) month term, the Controlling PartyClass A Insurer, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating AgenciesSwap Counterparty, the Insurer not then the Controlling Party Rating Agencies and the Backup Servicer, may, at its option, renew the term of Credit Acceptance as Servicer for a subsequent term of six (6) months; provided, however, if a Servicer Default occurs and the Servicer is not terminated pursuant to Section 8.01 hereof, then the Class A Insurer may renew the term of Credit Acceptance as the Servicer for a subsequent term of three (3) months. Upon the expiration of any three (3) month term, the Controlling PartyClass A Insurer, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating AgenciesSwap Counterparty, the Insurer not then the Controlling Party Rating Agencies and the Backup Servicer, may at its option, renew the term of Credit Acceptance as Servicer for an additional three (3) month term. If the Controlling Party Class A Insurer does not renew any such servicing term in writing, the servicing term of Credit Acceptance shall automatically expire. If both a Class A Insurer Default and a Backup Insurer Default have has occurred and are is continuing, and the twelve (12) month, six (6) month or any three (3) month servicing term, as the case may be, has not previously expired and thereafter expires, Credit Acceptance shall continue as Servicer unless and until it is terminated after the occurrence of a Servicer Default. Upon the occurrence of a Servicer Default, the Controlling Party Class A Insurer shall have the rights set forth in Section 8.01 hereof. Notwithstanding anything herein to the contrary, the provisions of this Section 4.01(a) shall not apply to the Backup Servicer after it has become the successor Servicer.

Servicing Termination. The Seller, the Trust, the Trust Collateral Agent, the Class A Insurer and the Backup Insurer hereby appoint Credit Acceptance as servicer hereunder and Credit Acceptance hereby accepts such appointment and agrees to manage, collect and administer each of the Dealer Loans as Servicer. Credit Acceptance shall be retained as Servicer for an initial twelve (12) month term commencing on the Closing Date. Upon the expiration of such twelve (12) month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may, at its option, renew the term of Credit Acceptance as Servicer for a subsequent term of three (3) months. Upon the expiration of any three month term, the Controlling Party, upon written notice to the Indenture Trustee, the Trust Collateral Agent, the Servicer, the Rating Agencies, the Insurer not then the Controlling Party and the Backup Servicer, may at its option, renew the term of Credit Acceptance as Servicer for an additional three (3) month term. If the Controlling Party does not renew any such servicing term in writing, the servicing term of Credit Acceptance shall automatically expire. If both a Class A Insurer Default and a Backup Insurer Default have occurred and are continuing, and the twelve (12) month or any three (3) month servicing term, as the case may be, has not previously expired and thereafter expiresexpired, Credit Acceptance shall continue as Servicer unless and until it is terminated after the occurrence of a Servicer Default. Upon the occurrence of a Servicer Default, the Controlling Party shall have the rights set forth in Section 8.01 hereof. Notwithstanding anything herein to the contrary, the provisions of this Section 4.01(a) shall not apply to the Backup Servicer after it has become the successor Servicer.