Common use of Action Upon Certain Failures of the Servicer Clause in Contracts

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 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 (i) unless notified thereof in writing by the Servicer, the Note Insurer 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 the Indenture Trustee shall have received written notice, or a Responsible Officer of the Indenture Trustee shall have actual knowledge knowledge, of any failure of the Servicer specified in Section 10.1 which that would give rise to a right of termination under such Section upon the Servicer's ’s failure to remedy the same after notice, the Indenture Trustee shall give notice thereof to the Servicer and the Note InsurerServicer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 (if) unless notified thereof in writing by the Servicer, the Note Insurer 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. 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 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 (i) unless notified thereof in writing by the Servicer, the Note Insurer 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.. ARTICLE XI ---------- TERMINATION

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 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 Indenture Trustee shall give notice thereof to the Transferor, the Servicer [and the Note Insurer]. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and this Section 10.6)Agreement, the Indenture Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections 10.1(c) through (i) Section 9.1 unless notified thereof in writing by the Transferor, the Servicer, [the Note Insurer Insurer] or by a SecurityholderNoteholder. 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 10.19.1.

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 SECTION 10.1 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section SECTION 6.2(b) and this Section SECTION 10.6), the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections SECTIONS 10.1(c) through (iH) unless notified thereof in writing by the Servicer, the Note Insurer or by a Securityholderthe 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 SECTION 10.1.

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 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 though (i) unless notified thereof in writing by the Servicer, the Note Insurer 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.. ARTICLE XI ---------- TERMINATION

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 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 (i) unless notified thereof in writing by the Servicer, the Note Insurer or by a SecurityholderNoteholder. 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 Trustee shall have actual knowledge of any failure of the Servicer specified in Section 10.1 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and 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 (i) unless notified thereof in writing by the Servicer, the Note Insurer 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. ARTICLE XI ---------- TERMINATION Optional Purchase of All Receivables.

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 6.1 which would give rise to a right of termination under such Section Article VI, the Indenture Trustee shall promptly notify the Insurer and the Servicer and, upon the Servicer's failure to remedy the same after notice, the Indenture Trustee shall give notice thereof to the Servicer and the Note InsurerNoteholders. For all purposes of this Agreement (including, without limitation, Section 6.2(b) and this Section 10.66.6), the Indenture Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections 10.1(c6.1(b) through (ig) unless notified thereof in writing by the Servicer, the Note Insurer or by a SecurityholderNoteholder. 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 10.16.1.

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 SECTION 10.1 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 Servicer Servicer, the Controlling Party and the Note InsurerNoteholder. For all purposes of this Agreement (including, without limitation, Section 6.2(bSECTION 6.2(B) and this Section SECTION 10.6), the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections 10.1(cSECTIONS 10.1(C) through (iH) unless notified thereof in writing by the Servicer, the Note Insurer Controlling Party or by a Securityholderthe 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 SECTION 10.1.

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 SECTION 10.1 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 Servicer and the Note Insurer. For all purposes of this Agreement (including, without limitation, Section SECTION 6.2(b) and this Section SECTION 10.6), the Trustee shall not be deemed to have knowledge of any failure of the Servicer as specified in Sections SECTIONS 10.1(c) through (ih) unless notified thereof in writing by the Servicer, the Note Insurer or by a Securityholderthe 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 SECTION 10.1.