Common use of Custodian May Resign; Trustee May Remove Custodian Clause in Contracts

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Xxxx xxxx Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The -------------------------------------------------- Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving 90 days' prior written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Special Servicer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) either take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Custodian Special Servicer or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to Custodian, the successor Custodian, the Depositor, the Master Servicer and the Special Servicer. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicers and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master ServicerServicers, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Xxxx xxxx Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment appoint ment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition peti tion any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans by giving 60 days written notice thereof to the Depositor, the Master Servicer, the Certificate Insurer Servicer and the Trustee. Upon receiving such notice of resignation, the Trustee shall either: (1) take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Certificate Insurer and the Custodian or (2) promptly appoint a successor Custodian by written instrument, in duplicate, which instrument shall be delivered to the resigning Custodian and to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.