Common use of Termination Events Clause in Contracts

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 36 contracts

Samples: Master Agreement (Sail 2006-3), Custodial Agreement (Home Equity Mortgage Trust 2005-5), Master Agreement (LXS 2006-7)

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Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and will not apply to Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 21 contracts

Samples: Master Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-4), Master Agreement (Structured Asset Securities Corp 2005-Wf4), Master Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-4)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 9 contracts

Samples: Master Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oci), Master Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1), Master Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-3)

Termination Events. The following Termination Events will apply to the parties as specified below: "Illegality" provision of Section 5(b)(i), the "Tax Event" provision of Section 5(b)(ii), the "Tax Event Upon Merger" provision of Section 5(b)(iii) (Illegalityand the "Credit Event Upon Merger" provision of Section 5(b)(iv) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 7 contracts

Samples: Master Agreement (CSMC Mortgage-Backed Trust 2007-3), Master Agreement (Credit Suisse Adjustable Rate Mortgage Trust 2006-1), Master Agreement (CSMC Mortgage-Backed Trust 2007-2)

Termination Events. The following Termination Events will apply to the parties as specified below: “Illegality” provision of Section 5(b)(i), the “Tax Event” provision of Section 5(b)(ii), the “Tax Event Upon Merger” provision of Section 5(b)(iii) (Illegalityand the “Credit Event Upon Merger” provision of Section 5(b)(iv) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 7 contracts

Samples: Pooling Agreement (Citicorp Mortgage Securities Inc), Pooling Agreement (Citicorp Mortgage Securities Inc), Master Agreement (CSMC Mortgage-Backed Trust 2006-9)

Termination Events. The following Termination Events will apply to the parties as specified below: “Illegality” provision of Section 5(b)(i), the “Tax Event” provision of Section 5(b)(ii) (Illegalityand the “Tax Event Upon Merger” provision of Section 5(b)(iii) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax The “Credit Event upon Upon Merger) will apply to Party A and Party B. ” provision of Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 5 contracts

Samples: Master Agreement (CSAB Mortgage-Backed Trust 2006-4), Master Agreement (CSAB Mortgage-Backed Pass-Through Certificates, Series 2006-2), Master Agreement (TBW Mortgage-Backed Trust Series 2006-4)

Termination Events. The following Termination Events will apply to the parties as specified below: “Illegality” provisions of Section 5(b)(i), the “Tax Event” provisions of Section 5(b)(ii), the “Tax Event Upon Merger” provisions of Section 5(b)(iii) (Illegalityand the “Credit Event Upon Merger” provisions of Section 5(b)(iv) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) but will not apply to Party B. Party A or shall be the sole Affected Party B.(under Section 5(b)(i), (ii) and 5(b)(iv)) and the sole Burdened Party (under Section 5(b)(iii)) with respect to a Termination Event.

Appears in 4 contracts

Samples: Master Agreement (Jetblue Airways Corp), Master Agreement (Jetblue Airways Corp), Master Agreement (Jetblue Airways Corp)

Termination Events. The following Termination Events will apply to the parties as specified below: "Illegality" provision of Section 5(b)(i) (Illegality), the "Tax Event" provision of Section 5(b)(ii), the "Tax Event Upon Merger" provision of Section 5(b)(iii) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (The 'Credit Event upon Merger" provision of Section 5(b)(iv) will not apply to Party A or and will not apply to Party B.

Appears in 4 contracts

Samples: Master Agreement (CHL Mortgage Pass-Through Trust 2007-4), Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-20), Master Agreement (CHL Mortgage Pass-Through Trust 2006-13)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and will not apply to Party B. B; provided for clarification that Party B may be a Burdened Party for purpose of this provision. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Argent Securities Inc., Asset-Backed Pass-Through Certificates, Series 2005-W2), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Trust 2006-R1, Asset-Backed Pass-Through Certificates, Series 2006-R1), Custodial Agreement (GSAMP Trust 2006-He2)

Termination Events. The following Termination Events will apply to the parties as specified below: “Illegality” provisions of Section 5(b)(i) (Illegality), the “Tax Event” provisions of Section 5(b)(ii), and the “Tax Event Upon Merger” provisions of Section 5(b)(iii) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) but will not apply to Party B. Party A or shall be the sole Affected Party B.(under Section 5(b)(i) and (ii)) and the sole Burdened Party (under Section 5(b)(iii)) with respect to a Termination Event.

Appears in 3 contracts

Samples: Master Agreement (Jetblue Airways Corp), Master Agreement (Jetblue Airways Corp), Master Agreement (Jetblue Airways Corp)

Termination Events. The following Termination Events will apply to the parties as specified below: "Illegality" provision of Section 5(b)(i), the "Tax Event" provision of Section 5(b)(ii) (Illegalityand the "Tax Event Upon Merger" provision of Section 5(b)(iii) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax The "Credit Event upon Upon Merger) will apply to Party A and Party B. " provision of Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 2 contracts

Samples: Master Agreement (CSAB Mortgage-Backed Trust 2007-1), Master Agreement (Wells Fargo Mortgage Backed Securities 2006-10 Trust)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (IllegalityILLEGALITY) will apply to Party A and Party B. Section 5(b)(ii) (Tax EventTAX EVENT) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon MergerTAX EVENT UPON MERGER) will apply to Party A and will not apply to Party B. B; provided for clarification that Party B may be a Burdened Party for purpose of this provision. Section 5(b)(iv) (Credit Event upon MergerCREDIT EVENT UPON MERGER) will not apply to Party A or Party B.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Series 2005-R3), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Series 2005-R3)

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Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (IllegalityILLEGALITY) will apply to Party A and Party B. Section 5(b)(ii) (Tax EventTAX EVENT) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon MergerTAX EVENT UPON MERGER) will apply to Party A and will not apply to Party B. Section 5(b)(iv) (Credit Event upon MergerCREDIT EVENT UPON MERGER) will not apply to Party A or Party B.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Argent Securities Inc)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and will not apply to Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or to Party B.

Appears in 1 contract

Samples: Master Agreement (Long Beach Mortgage Loan Trust 2006-9)

Termination Events. The following Termination Events will apply to the parties as specified below: “Illegality” provision of Section 5(b)(i) (Illegality), the “Tax Event” provision of Section 5(b)(ii), and the “Tax Event Upon Merger” provision of Section 5(b)(iii) will apply to both Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax B, but the “Credit Event upon Upon Merger) will apply to Party A and Party B. ” provision of Section 5(b)(iv) (Credit Event upon Merger) will not apply to either Party A or Party B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Upon Merger) will not apply to Party A or Party B.

Appears in 1 contract

Samples: Master Agreement (RALI Series 2008-QR1Trust)

Termination Events. The following Termination Events will apply to applyo the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and will not apply to Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party Pay A or Party B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Wcw1)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and Party B. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Wcw3)

Termination Events. The following Termination Events will apply to the parties as specified below: Section 5(b)(i) (Illegality) will apply to Party A and Party B. Section 5(b)(ii) (Tax Event) will apply to Party A and Party B. Section 5(b)(iii) (Tax Event upon Merger) will apply to Party A and but will only apply to Party B. B as a Burdened Party for purpose of this provision. Section 5(b)(iv) (Credit Event upon Merger) will not apply to Party A or Party B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Cb5)

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