Common use of Action Upon Certain Failures of the Master Servicer and Upon Event of Default Clause in Contracts

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, Administrator and the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Trust Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Trust Administrator, as applicable, shall give notice thereof to the Master Servicer, Servicer and any NIMS Insurer, the Trustee, the Securities Administrator, the Swap Counterparty Insurer and the Cap CounterpartyTrustee or Trust Administrator, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, Servicer and any NIMS Insurer, Insurer and the Trustee, the Securities Administrator, Administrator and the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, Trustee and the Securities Administrator, the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, Administrator and the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, Trustee and the Securities Administrator, the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Reponsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, the Swap Counterparty and the Cap Counterparty, as applicable.

Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Reponsible Officer of the Trustee or the Securities Administrator shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee or the Securities Administrator, as applicable, shall give notice thereof to the Master Servicer, any NIMS Insurer, the Trustee, the Securities Administrator, Administrator and the Swap Counterparty and the Cap Counterparty, as applicable.