Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees accruing to it to the date of such termination or removal.
Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by BAC, as initial Servicer, all fees accruing to it to the date of such termination or removal.
Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 13(a) or the removal of the Administrator pursuant to Section 13(c), the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination or removal. The Administrator shall forthwith upon such termination pursuant to Section 13(a) deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the resignation or removal of the Administrator pursuant to Section 13(c), the Administrator shall cooperate with the Issuer and the Trustee and take all reasonable steps requested to assist the Issuer and the Trustee in making an orderly transfer of the duties of the Administrator, including, without limitation, delivering to a successor Administrator all property and documents of or relating to the Collateral then in the custody of the retiring Administrator.
Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement or the removal of the Administrator pursuant to Section 8 of this Agreement, the Administrator shall (a) be entitled to be paid by the Trust in accordance with the terms and conditions of the Trust Agreement all reimbursable expenses accruing to it to the date of such termination or removal and (b) deliver to the successor Administrator all property and documents of or relating to the Trust Loans then in the custody of the Administrator. In the event of the removal of the Administrator pursuant to Sections 8(b) or (c) of this Agreement, the Administrator, for a period of not less than 120 days following notice of such removal, shall cooperate with the Trust and take all reasonable steps requested to assist the Trust in making an orderly transfer of the duties of the Administrator.
Action upon Termination or Removal. 6 10. Liens................................................................ 6 11. Notices.............................................................. 6 12. Amendments........................................................... 6 13. Governing Law; Submission to Jurisdiction............................ 7 14. Headings............................................................. 8 15. Counterparts......................................................... 8 16.
Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement or removal of the Special Servicer pursuant to Section 5 of this Agreement, the Special Servicer shall forthwith upon such termination pursuant to Section 5 of this Agreement deliver to the Trust or its designee, all property and documents of or relating to the Trust Loans then in the custody of the Special Servicer pursuant to this Agreement. In the event of the removal of the Special Servicer pursuant to Section 5 of this Agreement, the Special Servicer, for a period of not less than 120 days following notice of such removal, shall cooperate with the Trust and take all reasonable steps requested to assist the Trust in making an orderly transfer of the duties of the Special Servicer to the applicable Successor Special Servicer, including, without limitation, remitting or causing the Subservicers to remit net collections received on Trust Loans to the FMER Collection Account or the Purchased Loan Collection Account, as applicable.
Action upon Termination or Removal. 6 10. Liens...................................................................6 11. Notices.................................................................6
Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to SECTION 9, or the removal of the Administrator pursuant to SECTION 9, the Administrator shall be entitled to be paid, in accordance with the Credit Agreement, all fees and reimbursable expenses accruing to it to the date of such termination or removal; provided, however, that any such amounts payable to the Administrator shall be net of any damages, losses, liabilities (including liabilities for penalties), actions, suits, judgments, demands, costs and expenses (including, without limitation, interest or reasonable attorneys' fees and expenses) incurred by SPE, the Lender or any Hedge Counterparty resulting from the gross negligence or willful misconduct of the Administrator in performing (or failing to perform) its obligations under this Agreement.
