Common use of Termination by Seller/Servicer Clause in Contracts

Termination by Seller/Servicer. Seller/Servicer may terminate this Agreement upon 30 days prior notice to Designated Custodian. Upon giving such notice, Seller/Servicer shall, in accordance with the Guide, designate a new Document Custodian for Mortgages serviced for Xxxxxxx Mac. Designated Custodian shall transfer the Notes for those Mortgages to the new Document Custodian within 30 days after receiving notice of Xxxxxxx Mac’s approval. If Seller/Servicer or Xxxxxxx Mac fails to provide Designated Custodian with specific instructions to transfer the Note Files within 30 days of receiving Designated Custodian’s notice of termination, Designated Custodian may, at Xxxxxxx Mac’s expense, petition any court of competent jurisdiction to name a successor Document Custodian. Any Transfer of Custody in connection with such termination shall occur in accordance with the provisions of Section 3(b).

Termination by Seller/Servicer. Seller/Servicer may terminate this Agreement upon 30 days prior notice to Designated Custodian. Upon giving such notice, Seller/Servicer shall, in accordance with the Guide, designate a new Document Custodian for Mortgages serviced for Xxxxxxx Freddie Mac. Designated Custodian shall transfer the Notes for those Mortgages to the new Document Custodian within 30 days after receiving notice of Xxxxxxx Freddie Mac’s approval. If Seller/Servicer or Xxxxxxx Freddie Mac fails to provide Designated Custodian with specific instructions to transfer the Note Files within 30 days of receiving Designated Custodian’s notice of termination, Designated Custodian may, at Xxxxxxx Freddie Mac’s expense, petition any court of competent jurisdiction to name a successor Document Custodian. Any Transfer of Custody in connection with such termination shall occur in accordance with the provisions of Section 3(b).

Termination by Seller/Servicer. Seller/Servicer may terminate this Agreement upon 30 days prior notice to Designated Custodian. Upon giving such notice, Seller/Servicer shall, in accordance with the Guide, designate a new Document Custodian for Mortgages serviced for Xxxxxxx Freddie Mac. Designated Custodian shall transfer the Notes for those Mortgages to the new Document Custodian within 30 days after receiving notice of Xxxxxxx Freddie Mac’s approval. If Seller/Servicer or Xxxxxxx Freddie Mac fails to provide Designated Custodian with specific instructions to transfer the Note Files within 30 days of receiving Designated Custodian’s notice of termination, Designated Custodian may, at Xxxxxxx Freddie Mac’s expense, petition any court of competent jurisdiction to name a successor Document Custodiandocument custodian. Any Transfer of Custody in connection with such termination shall occur in accordance with the provisions of Section 3(b).

Termination by Seller/Servicer. Seller/Servicer may terminate this Agreement upon 30 days prior notice to Designated Custodian. Upon giving such notice, Seller/Servicer shall, in accordance with the Guide, designate a new Document Custodian for Mortgages serviced for Xxxxxxx Mac. Designated Custodian shall transfer the Notes for those Mortgages to the new Document Custodian within 30 days after receiving notice of Xxxxxxx Mac’s approval. If Seller/Servicer or Xxxxxxx Mac fails to provide Designated Custodian with specific instructions to transfer the Note Files within 30 days of receiving Designated Custodian’s notice of termination, Designated Custodian may, at Xxxxxxx Mac’s expense, petition any court of competent jurisdiction to name a successor Document Custodiandocument custodian. Any Transfer of Custody in connection with such termination shall occur in accordance with the provisions of Section 3(b).