Common use of Action upon Certain Failures of the Master Servicer and upon Master Servicer Event of Termination Clause in Contracts

Action upon Certain Failures of the Master Servicer and upon Master Servicer Event of Termination. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 7.01(a)(i) or (ii) which would become an Master Servicer Event of Termination upon the Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have actual knowledge of a Master Servicer Event of Termination, the Trustee shall give prompt written notice thereof to the Certificateholders.

Action upon Certain Failures of the Master Servicer and upon Master Servicer Event of Termination. (a) In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 7.01(a)(i7.01(c)(i) or (ii) which would become an Master Servicer Event of Termination upon the Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have actual knowledge of a Master Servicer Event of Termination, the Trustee shall give prompt written notice thereof to the Certificateholders.

Action upon Certain Failures of the Master Servicer and upon Master Servicer Event of Termination. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 7.01(a)(i7.01(c)(i) or (ii) which would become an Master Servicer Event of Termination upon the Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have actual knowledge of a Master Servicer Event of Termination, the Trustee shall give prompt written notice thereof to the Certificateholders.