Common use of Action upon Termination or Removal Clause in Contracts

Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a) or the removal of the Administrator pursuant to Section 8(b) or (c), respectively, the Administrator shall be entitled to be paid by the Issuer all fees and reimbursable expenses accruing to it to the date of such termination or removal in accordance with the Indenture. The Administrator shall forthwith upon termination pursuant to Section 8(a) deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the removal of the Administrator pursuant to Section 8(b) or (c), respectively, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a) or the removal of the Administrator pursuant to Section 8(b) or (c), respectively8 of this Agreement, the Administrator shall (a) be entitled to be paid by the Issuer Trust in accordance with the terms and conditions of the Trust Agreement all fees and reimbursable expenses accruing to it to the date of such termination or removal in accordance with the Indenture. The Administrator shall forthwith upon termination pursuant to Section 8(aand (b) deliver to the Issuer successor Administrator all property and documents of or relating to the Collateral Trust Loans then in the custody of the Administrator. In the event of the removal of the Administrator pursuant to Section Sections 8(b) or (c), respectively) of this Agreement, the Administrator Administrator, for a period of not less than 120 days following notice of such removal, shall cooperate with the Issuer Trust and take all reasonable steps requested to assist the Issuer Trust in making an orderly transfer of the duties of the Administrator.