Common use of Terminating Entity Clause in Contracts

Terminating Entity. (i) SPS, or its successor Servicer, or the entity or entities designated pursuant to Section 7.04(a) of this Agreement, or (ii) if SPS or such successor Servicer or such entity or entities does not exercise its right to terminate the Trust Fund pursuant to Section 11.01 on the Optional Termination Date, Xxxxx Fargo, or its successor Servicer, or if none of SPS, the entity or entities designated pursuant to Section 7.04(a) of this Agreement or Xxxxx Fargo (nor their respective successor Servicers) exercises such right on such Optional Termination Date, thereafter, the first of SPS, or its successor Servicer, or the entity or entities designated pursuant to Section 7.04(a) of this Agreement, or Xxxxx Fargo, or its successor Servicer, that notifies the Trust Administrator of its intention to exercise such right.

Terminating Entity. (i) SPS, or its successor Servicer, or the entity or entities designated pursuant to Section 7.04(a) of this Agreement, or (ii) if SPS or such successor Servicer or such entity or entities does not exercise its right to terminate the Trust Fund pursuant to Section 11.01 9.01 on the Optional Termination Date, Xxxxx FargoOcwen, or its successor Servicer, or (iii) if Ocwen or such successor Servicer does not exercise its right to terminate the Trust Fund pursuant to Section 9.01 on the Optional Termination Date, WFBNA, or its successor Servicer, or if none of SPS, the entity Ocwen or entities designated pursuant to Section 7.04(a) of this Agreement or Xxxxx Fargo WFBNA (nor their respective successor Servicers) exercises such right on such Optional Termination Date, thereafter, the first of SPS, or its successor Servicer, Ocwen or the entity or entities designated pursuant to Section 7.04(a) of this Agreementits successor Servicer, or Xxxxx FargoWFBNA, or its successor Servicer, that notifies the Trust Administrator Trustee of its intention to exercise such right.