Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2001-1), Pooling and Servicing Agreement (NCT Funding Co LLC), Pooling and Servicing Agreement (NCT Funding Co LLC)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.02(g) or 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "“Termination Notice"”) delivered to the parties hereto, terminate all (but not less than all) of the Servicer's ’s rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2008-Vt1), Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section Sections 6.02(g) or 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Vt1), Pooling and Servicing Agreement (Cit Equipment Collateral 2004-Vt1)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders Holders, or (y) the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.07 of the Indenture) may and shall at the direction of the Required Holdersmay, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 4 contracts
Samples: Transfer Agreement (Ace Securities Corp), Transfer Agreement (Asset Backed Securities Corp), Transfer Agreement (NCT Funding Co LLC)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.02(g) or 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2004-Ef1), Pooling and Servicing Agreement (NCT Funding Co LLC)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.02(g) or 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Ef1), Pooling and Servicing Agreement (Cit Funding Co, LLC)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders Holders, or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.07 of the Indenture) may and shall at the direction of the Required HoldersTrustee, may, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.07 of the Indenture) may and shall at the direction of the Required Holdersmay, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2000-2)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.07 of the Indenture) may and shall at the direction of the Required Holdersmay, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2000-1)
Servicing Transfer. (a) If a Servicer Default has occurred and is continuing, the Required Holders or the Indenture Trustee (subject to the right of the Indenture Trustee to indemnification pursuant to Section 6.02(g) or 6.07 of the Indenture) may and shall at the direction of the Required Holders, by written notice (a "“Termination Notice"”) delivered to the parties hereto, terminate all (but not less than all) of the Servicer's ’s rights and obligations under this Pooling Agreement with respect to the Trust Assets.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC)
