Common use of Action upon Certain Failures of Servicer and upon Event of Default Clause in Contracts

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each the Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i7.1 (i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) 7.1 or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be 101 deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after 106 notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.. 109

Action upon Certain Failures of Servicer and upon Event of Default. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in Section 7.1(i) or (ii) which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. In the event that the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders and to each Rating Agency. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 7.1(i) and (ii) or any Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.. 100