Retention and Termination of Servicer. The Servicer hereby covenants and agrees to act as such under this Agreement for an initial term, commencing on the Closing Date and ending on _______________ which term shall be extendible by [the Note Insurer] for successive quarterly terms ending on each successive June 30, September 30, December 31, and March 31 (or, pursuant to revocable written standing instructions from time to time to the Servicer and the Trust Collateral Agent, for any specified number of terms greater than one), until the termination of the Issuer. Each such notice (including each notice pursuant to standing instructions, which shall be deemed delivered at the end of successive quarterly terms for so long as such instructions are in effect) (a "Servicer Extension Notice") shall be delivered by [the Note Insurer] to the Trust Collateral Agent and the Servicer. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, for the initial term beginning on the date hereof and for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. [Until such time as a Note Insurer Default shall have occurred and be continuing,] the Trust Collateral Agent agrees that if as of the fifteenth day prior to the last day of any term of the Servicer, the Trust Collateral Agent shall not have received any Servicer Extension Notice from [the Note Insurer], the Trust Collateral Agent will, within five days thereafter, give written notice of such non-receipt [to the Note Insurer], the Back-up Servicer (or any alternate successor servicer appointed by the Note Insurer pursuant to Section 8.5) and the Servicer and the Servicer's terms shall not be extended unless a Servicer Extension Notice is received on or before the last day of such term.
Retention and Termination of Servicer. The Servicer hereby ------------------------------------- covenants and agrees to act as such under this Agreement during the term of the Facility, as such term may be extended pursuant to the Security and Funding Agreement, unless the Servicer is terminated pursuant to Article IX hereof, or is permitted to resign pursuant to Section 8.6 hereof. -----------
Retention and Termination of Servicer. 42 SECTION 4.15. FIDELITY BOND AND ERRORS AND OMISSIONS POLICY................... 43 ARTICLE V TRUST ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS 43 SECTION 5.1. ESTABLISHMENT OF TRUST ACCOUNTS................................. 43 SECTION 5.2. CAPITALIZED INTEREST ACCOUNT.................................... 45 SECTION 5.3. CERTAIN REIMBURSEMENTS TO THE SERVICER.......................... 46 SECTION 5.4. APPLICATION OF COLLECTIONS...................................... 46 SECTION 5.5. WITHDRAWALS FROM SPREAD ACCOUNT................................. 47 SECTION 5.6. ADDITIONAL DEPOSITS............................................. 47 SECTION 5.7. DISTRIBUTIONS................................................... 48 SECTION 5.8. NOTE DISTRIBUTION ACCOUNT....................................... 49 SECTION 5.9. PRE-FUNDING ACCOUNT............................................. 51 SECTION 5.10. STATEMENTS TO NOTEHOLDERS....................................... 51 SECTION 5.11. OPTIONAL DEPOSITS BY THE INSURER................................ 52 SECTION 5.12.
Retention and Termination of Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement until the earlier to occur of (i) the termination of the Trust and (ii) the removal of the Servicer, as servicer, in accordance with Article 14 hereof in connection with the occurrence of an Event of Servicer Default or Back-up Servicer Default, as applicable, which has not otherwise been waived or cured.
Retention and Termination of Servicer. 39 SECTION 4.15. FIDELITY BOND AND ERRORS AND OMISSIONS POLICY....................................... 39 ARTICLE V TRUST ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS 39
Retention and Termination of Servicer. As long as the Seller acts as Servicer, the Servicer hereby covenants and agrees to act as such under this Agreement for an initial term commencing on the Closing Date and ending on June 30, 2005, which term may be extended by the Controlling Party for successive quarterly terms ending on each successive September 30, December 31, March 31 and June 30 pursuant to written instructions delivered by the Controlling Party to the Servicer and the Trustee (or, at the discretion of the Controlling Party exercised pursuant to revocable written standing instructions from time to time to the Servicer and the Trustee, for any specified number of terms greater than one), until the Termination Date (each such notice, including each notice pursuant to standing instructions, which shall be deemed delivered at the end of successive terms for so long as such instructions are in effect, a "SERVICER EXTENSION NOTICE"). The Servicer hereby agrees that, upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. The Trustee agrees that if as of the fifteenth day prior to the last day of any term of the Servicer, the Trustee shall not have received any Servicer Extension Notice from the Controlling Party, the Trustee shall, within five days thereafter, give written notice of such non-receipt to the Controlling Party and the Servicer and the Servicer's term shall not be extended unless a Servicer Extension Notice is received on or before the last day of such term.
Retention and Termination of Servicer. 44 SECTION 3.15. FIDELITY BOND............................................................................44 SECTION 3.16. DUTIES OF THE SERVICER UNDER THE INDENTURE...............................................44
Retention and Termination of Servicer. 20 SECTION 4.16. FIDELITY BOND...................................................................20 SECTION 4.17. LIEN SEARCHES; OPINIONS AS TO TRANSFERS AND SECURITY INTERESTS..................20 ARTICLE V ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO THE NOTEHOLDER........................................21
Retention and Termination of Servicer. Servicer hereby covenants and agrees to act as such under this Agreement for an initial term commencing on the Closing Date and ending on the Maturity Date unless terminated in accordance with the Loan Documents.
Retention and Termination of Servicer. The Servicer hereby covenants and agrees to act as such under this Agreement for an initial term, commencing on the Closing Date and ending on June 30, 2003, which term shall be subject to automatic termination unless renewed by the Majority Noteholder in writing for successive quarterly terms ending on each successive, September 30, December 31, March 31 and June 30, until the Notes and the Certificates are paid in full. The Majority Noteholder shall give written notice at least 15 Business Days prior to the end of the related calendar quarter that such term will be extended for an additional quarter. Each such notice (a "Servicer Extension Notice") shall be delivered by the Majority Noteholder to the Indenture Trustee and the Servicer. If no Servicer Extension Notice is given 15 Business Days prior to the end of the related calendar quarter, the Servicer acknowledges that its rights and obligations as Servicer hereunder shall automatically terminate at the end of the then current calendar quarter.
