Common use of Termination of the Rights of Sub-Servicers Clause in Contracts

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's ’s election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Master Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Master Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Master Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Master Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Master Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Master Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Master Servicer and such substitute Sub-Servicer. The Each Sub-Servicing Agreement shall provide that any successor to the Master Servicer shall give notice be able to terminate the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and the Master Servicer (and not the successor Master Servicer) shall be liable for the payment of any appointment or designation of a substitute Sub-Servicertermination fee.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; providedPROVIDED, howeverHOWEVER, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer Trustee and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company and reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer Trustee and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Servicer terminates the rights of a Sub-Servicer under any Sub- Servicing Agreement, the Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Certificate Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.

Termination of the Rights of Sub-Servicers. If the Master Servicer terminates the rights of a Sub-Servicer under any Sub- Sub-Servicing Agreement, the Master Servicer shall service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, or at the Master Servicer's election, enter into a substitute servicing agreement with another mortgage loan servicing company reasonably acceptable to the Trustee and the Master Servicer under which such mortgage loan servicing company shall assume, satisfy, perform and carry out all liabilities, duties, responsibilities and obligations that are to be, or otherwise were to have been, satisfied, performed and carried out by the terminated Sub-Servicer, regardless of whether such liabilities, duties, responsibilities or obligations shall have accrued before or after the termination of the rights of such Sub-Servicer; provided, however, that any such substitute servicer and any such substitute servicing shall satisfy the requirements of Sections 3.01 and 3.02. If the Master Servicer does not elect to enter into a substitute servicing agreement with a successor servicer, the Master Servicer shall nevertheless service the Mortgage Loans directly pursuant to and in accordance with the terms of this Agreement, until a substitute Sub-Servicer has been appointed and designated and a substitute servicing agreement has been entered into by the Master Servicer and such substitute Sub-Servicer. The Servicer shall give notice to the Trustee, the Insurer and the Rating Agencies of any termination of a Sub-Servicer and any appointment or designation of a substitute Sub-Servicer.