Common use of Termination for Clause in Contracts

Termination for. NONPAYMENT In the event of the nonpayment of fees owed to DSI, DSI shall provide written notice of delinquency to all parties to this Escrow Agreement. Any party to this Escrow Agreement shall have the right to make the payment to DSI to cure the default. If the past due payment is not received in full by DSI within one month of the date of such notice, then DSI shall have the right to terminate this Escrow Agreement at any time thereafter by sending written notice of termination to all parties. Upon termination for nonpayment, DSI may, at its sole discretion, destroy the Deposit Materials or return them to Depositor. DSI shall have no obligation to take any action under this Escrow Agreement so long as any payment due to DSI remains unpaid.