Action Upon Certain Failures of the Servicer. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Servicer specified in Section 10.1 that would give rise to a right of termination under such Section upon the Servicer’s failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. For all purposes of this Agreement (including, without limitation, this Section 10.6), the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections 10.1(c) through (f) unless notified thereof in writing by the Servicer or by a Securityholder. The Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in Section 10.1.
Action Upon Certain Failures of the Servicer. In the event that a Responsible Officer of the Trust Collateral Agent shall have knowledge of any failure of the Servicer specified in Section 9.1 which would give rise to a right of termination under such Section upon the Servicer's failure to remedy the same after notice, the Trust Collateral Agent shall give notice thereof to the Transferor, the Servicer and the Note Insurer. For all purposes of this Agreement, the Trust Collateral Agent shall not be deemed to have knowledge of any failure of the Servicer as specified in Section 9.1 unless notified thereof in writing by the Transferor, the Servicer, the Note Insurer or by a Noteholder. The Trust Collateral Agent shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in Section 9.1.
Action Upon Certain Failures of the Servicer. In the event that a Responsible Officer of the Indenture Trustee shall have actual knowledge of any failure of the Servicer specified in Section 10.1 that would give rise to a right of termination under such Section upon the Servicer’s failure to remedy the same after notice, the Indenture Trustee shall give notice thereof to the Servicer. For all purposes of this Agreement (including, without limitation, this Section 10.6), the Indenture Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections 10.1(c) through (f) unless notified thereof in writing by the Servicer or by a Securityholder. The Indenture Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in Section 10.1.
Action Upon Certain Failures of the Servicer and upon Event of Default In the event that the Trustee shall have actual knowledge of any failure of the Servicer specified in Section 8.01(a) or (b) 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. If the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Certificateholders.
Action Upon Certain Failures of the Servicer. In the event that a Responsible Officer of the Trustee shall have knowledge of any failure of the Servicer specified in SECTION 8.1 which would give rise to a right of termination under such Section upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Depositor, the Servicer and the Certificate Insurer. For all purposes of this Agreement, the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in SECTION 8.1 unless notified thereof in writing by the Depositor, the Servicer, the Certificate Insurer or by a Certificateholder. The Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in SECTION 8.1.
Action Upon Certain Failures of the Servicer. In the event that the Trustee shall have knowledge of any failure of the Servicer specified in SECTION 10.1 that would give rise to a right of termination under such Section upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer, each Note Purchaser and each Noteholder. For all purposes of this Agreement (including, without limitation, this SECTION 10.6), the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in SECTIONS 10.1(c) through (h) unless notified thereof in writing by the Servicer, any Note Purchaser or any Noteholder. The Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in SECTION 10.1.
Action Upon Certain Failures of the Servicer and Upon ----------------------------------------------------- Event of Default. In the event that the Trustee shall have actual ---------------- knowledge of any action or inaction of the Servicer, 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. 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 or any other Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.
Action Upon Certain Failures of the Servicer. If the Backup Servicer shall obtain actual knowledge of any Servicer Termination Event or event but for the lapse of time or the giving of notice, or both, would constitute a Servicer Termination Event, it shall be obligated to notify promptly the Indenture Trustee, the Insurer and each Rating Agency of such occurrence or circumstance. In the event a Responsible Officer of the Indenture Trustee shall have received such notice (or any comparable notice from the Servicer, the Insurer or by a Noteholder) or otherwise obtained actual knowledge of any failure of the Servicer specified in SECTION 9.1 which would give rise to a right of termination under such SECTION 9.1 upon the Servicer's failure to remedy the same after notice, the Indenture Trustee shall give prompt notice thereof to the Servicer, each Rating Agency, the Insurer and the Noteholders. The Indenture Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in SECTION 9.1.
Action Upon Certain Failures of the Servicer. If either the Seller or the Backup Servicer shall obtain actual knowledge of any Servicer Termination Event or event but for the lapse of time or the giving of notice, or both, would constitute a Servicer Termination Event, it shall be obligated to notify promptly the Trustee and the Rating Agency of such occurrence or circumstance. In the event a Trustee Officer of the Trustee shall have received such notice (or any comparable notice from the Servicer or by a Certificateholder) or otherwise obtained actual knowledge of any failure of the Servicer specified in SECTION 8.1 which would give rise to a right of termination under such Section upon the Servicer's failure to remedy the same after notice, the Trustee shall give prompt notice thereof to the Servicer, the Rating Agency and the Certificateholders. The Trustee shall be under no duty or obligation to investigate or inquire as to any potential failure of the Servicer specified in SECTION 8.1. SECTION 8.6.
Action Upon Certain Failures of the Servicer. In the event that CSFB shall have knowledge of any Servicer Default or event which, with notice or lapse of time or both, would unless cured or waived, become a Servicer Default, CSFB shall give notice thereof to the Borrowers, the Servicers and the Custodian. For all purposes of this Agreement, in the absence of actual knowledge by CSFB, CSFB shall not be deemed to have knowledge of any failure of any Servicer as specified in Section 13.1 unless notified thereof in writing by such Servicer. CSFB shall be under no duty or obligation to investigate or inquire as to any potential failure of any Servicer specified in Section 13.1.
