TERMINATION OF FUNDING 2 SWAP Sample Clauses

TERMINATION OF FUNDING 2 SWAP. If on or prior to the date of the earlier of either (a) the reduction of the aggregate principal amount outstanding of all Loan Tranches (other than the Start-Up Loan Tranches) under the Master Intercompany Loan Agreement to zero or (b) the service of a Master Intercompany Loan Acceleration Notice, the Funding 2 Swap is terminated, then the Cash Manager (on behalf of Funding 2 and the Funding 2 Security Trustee) shall purchase a new hedge against the possible variance between (i) the Mortgages Trustee Variable Base Rate payable on the Variable Rate Loans, the fixed rates of interest payable on the Fixed Rate Loans and the Tracker Swap Rate and (ii) a LIBOR-based rate for three-month sterling deposits, on terms acceptable to Funding 2 and the Rating Agencies with a new Funding 2 swap provider whom the Rating Agencies have previously confirmed in writing will not cause the then current rating of any Notes of the Master Issuer to be downgraded. The Cash Manager may apply any early termination payment received from the Funding 2 Swap Provider pursuant to the Funding 2 Swap for such purpose.
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TERMINATION OF FUNDING 2 SWAP. If on or prior to the date of the earlier of either (i) the reduction of the aggregate principal amount outstanding of all Loan Tranches under the Master Intercompany Loan Agreement to zero or (ii) the service of a Master Intercompany Loan Acceleration Notice, the Funding 2 Swap is terminated, then the Cash Manager (on behalf of Funding 2 and the Funding 2 Security Trustee) shall purchase a new hedge against the possible variance between (1) the Mortgages Trustee Variable Base Rate payable on the Variable Rate Loans, the fixed rates of interest payable on the Fixed Rate Loans and the Tracker Swap Rate and (2) a LIBOR-based rate for three-month sterling deposits, on terms acceptable to Funding 2 and the Rating Agencies with a new Funding 2 swap provider whom the Rating Agencies have previously confirmed in writing will not cause the then current rating of any Notes of the Master Issuer to be downgraded. The Cash Manager may apply any early termination payment received from the Funding 2 Swap Provider pursuant to the Funding 2 Swap for such purpose.
Sample 1

Related to TERMINATION OF FUNDING 2 SWAP

  • Termination of Fund At any time following the first anniversary of the Closing Date, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) that had been made available to the Paying Agent and which have not been disbursed to holders of Certificates, and thereafter such holders shall be entitled to look only to Parent and the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) as general creditors thereof with respect to the payment of any Merger Consideration that may be payable upon surrender of any Certificates held by such holders, as determined pursuant to this Agreement, without any interest thereon. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority shall become, to the extent permitted by applicable Law, the property of Parent, free and clear of all claims or interest of any Person previously entitled thereto.

  • Sale of Note; Change in Servicer; Loan Servicing The Note or a partial interest in the Note (together with this Loan Agreement and the other Loan Documents) may be sold one or more times without prior Notice to Borrower. A sale may result in a change of the Loan Servicer. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given Notice of the change. All actions regarding the servicing of the Loan evidenced by the Note, including the collection of payments, the giving and receipt of Notice, inspections of the Mortgaged Property, inspections of books and records, and the granting of consents and approvals, may be taken by the Loan Servicer unless Borrower receives Notice to the contrary. If Borrower receives conflicting Notices regarding the identity of the Loan Servicer or any other subject, any such Notice from Lender will govern.

  • Termination of Trust Section 9.01

  • Consequences of a Servicer Termination Event If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

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