Common use of Termination by Grantor Trust Certificateholder Clause in Contracts

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under the Indenture or the Indenture is otherwise terminated, the Holder of the Grantor Trust Certificate shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master Servicer, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Grantor Trust Certificate by the Holder thereof to the Grantor Trustee on such effective date: (i) the Home Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold all Mortgage Files solely on behalf of, and subject to the instructions of, such Holder, until the Custodial Agreement is terminated; (iv) the Master Servicer shall continue to service the Home Loans pursuant to the Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Loans, subject to any applicable provisions of the Owner Trust Agreement and the Grantor Trust Agreement.

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under the Indenture or and the Indenture is otherwise terminated, the Holder of the Class A Grantor Trust Certificate Certificateholder shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master ServicerSecurities Administrator, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Class A Grantor Trust Certificate by the Holder thereof to the Grantor Trustee Trust Certificate Registrar on such effective date: (i) the Home Mortgage Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold deliver all Mortgage Files solely on behalf to, or at the direction of, the Holder and subject to the instructions of, such Holder, until the Custodial Agreement is terminatedwill terminate; (iv) the Master Servicer shall continue to service the Home Mortgage Loans pursuant to the Xxxxx Fargo Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Xxxxx Fargo Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Mortgage Loans, subject to any applicable provisions of the Owner Indenture, Trust Agreement and the Grantor Trust this Agreement.

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under If the Indenture or and the Indenture is otherwise terminated, the Holder of the Class A Grantor Trust Certificate Certificateholder shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master ServicerSecurities Administrator, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Class A Grantor Trust Certificate by the Holder thereof to the Grantor Trustee Trust Certificate Registrar on such effective date: (i) the Home Mortgage Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold deliver all Mortgage Files solely on behalf to, or at the direction of, the Holder and subject to the instructions of, such Holder, until the Custodial Agreement is terminatedwill terminate; (iv) the Master Servicer shall continue to service the Home Mortgage Loans pursuant to the Xxxxx Fargo Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Xxxxx Fargo Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Mortgage Loans, subject to any applicable provisions of the Owner Indenture, Trust Agreement and the Grantor Trust this Agreement.

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under the Indenture or the Indenture is otherwise terminated, the Holder of the Grantor Trust Certificate shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master Servicer, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Grantor Trust Certificate by the Holder thereof to the Grantor Trustee on such effective date: (i) the Home Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold all Mortgage Loan Files solely on behalf of, and subject to the instructions of, such Holder, until the Custodial Agreement is terminated; (iv) the Master Servicer shall continue to service the Home Loans pursuant to the Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Loans, subject to any applicable provisions of the Owner Trust Agreement and the Grantor Trust Agreement.

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under If the Indenture or and the Indenture is otherwise terminated, the Holder of the Class A Grantor Trust Certificate Certificateholder shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master ServicerSecurities Administrator, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Class A Grantor Trust Certificate by the Holder thereof to the Grantor Trustee Trust Certificate Registrar on such effective date: (i) the Home Mortgage Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold deliver all Mortgage Files solely on behalf to, or at the direction of, the Holder and subject to the instructions of, such Holder, until the Custodial Agreement is terminatedwill terminate; (iv) the Master Servicer shall continue to service the Home Mortgage Loans pursuant to the Wxxxx Fargo Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Wxxxx Fargo Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Mortgage Loans, subject to any applicable provisions of the Owner Indenture, Trust Agreement and the Grantor Trust this Agreement.

Termination by Grantor Trust Certificateholder. Upon the occurrence of an Event of Default under the Indenture or the Indenture is otherwise terminated, the Holder of the Grantor Trust Certificate shall have the right to terminate this Grantor Trust Agreement at any time upon 30 days prior written notice to the Grantor Trustee, with copies to the Master Servicer, the Custodian and the Depositor specifying the effective date of such termination. Upon presentation and surrender of the Grantor Trust Certificate by the Holder thereof to the Grantor Trustee on such effective date: (i) the Home Loans and all other property of the Grantor Trust shall be conveyed to such Holder; (ii) the Grantor Trustee shall execute and deliver to such Holder all instruments delivered to the Grantor Trustee and necessary to evidence such conveyance, and shall release all monies and other property of the Grantor Trust held by the Grantor Trustee to such Holder; (iii) the Custodian shall thereafter hold all Mortgage Loan Files solely on behalf of, and subject to the instructions of, such Holder, until the Custodial Agreement is terminated; (iv) the Master Servicer shall continue to service the Home Loans pursuant to the Servicing Agreement, solely for such Holder, and such Holder shall have all rights of the Grantor Trustee thereunder, until the Servicing Agreement is terminated; and (v) such Holder will have full right and authority to sell, transfer and assign the Home Loans, subject to any applicable provisions of the Owner Trust Agreement and the Grantor Trust Agreement.