Common use of Termination by Program Lender Clause in Contracts

Termination by Program Lender. Program Lender may immediately terminate this Agreement: (1) If the Guaranty Agreement or Origination Agreement is terminated, other than as a result of a breach thereof by Program Lender; or (2) If the Servicing Agreement is terminated and the Program Lender has not secured another Servicer under terms and conditions satisfactory to the Program Lender and FMC; or (3) If FMC materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; (4) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within sixty (60) days after the filing thereof; or (5) A ▇▇▇▇ Insolvency Event occurs.

Termination by Program Lender. Program Lender may immediately terminate this Agreement: (1) If the Guaranty Agreement or Origination Agreement is terminated, other than as a result of a breach thereof by Program Lender; or (2) If the Servicing Agreement is terminated and the Program Lender has not secured another Servicer under terms and conditions satisfactory to the Program Lender and FMC; or (3) If FMC materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; (4) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within sixty (60) days after the filing thereof; or (5) A ▇T▇▇▇ Insolvency Event occurs.