Common use of Consequences of a Servicer Termination Event Clause in Contracts

Consequences of a Servicer Termination Event. If a Servicer -------------------------------------------- Termination Event shall occur and be continuing, the Trustee shall, if so directed by the Controlling Party, by notice given in writing to the Servicer, terminate the rights and obligations of the Servicer under this Agreement subject to the compensation, rights of reimbursement, indemnity and limitation on liability to which the Servicer is then entitled and the rights of indemnity to which the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Back-up Servicer, the Successor Servicer, the Insurer and the Noteholders are then entitled, in each case pursuant to Sections 9.2 and 9.4 hereof.

Consequences of a Servicer Termination Event. If a Servicer -------------------------------------------- Termination Event shall occur and be continuing, the Trustee shall, if so directed by the Controlling Party, by notice given in writing to the Servicer, terminate the rights and obligations of the Servicer under this Agreement subject to the compensation, rights of reimbursement, indemnity and limitation on liability to which the Servicer is then entitled and the rights of indemnity to which the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Back-up Backup Servicer, the Successor Servicer, the Insurer and the Noteholders are then entitled, in each case pursuant to Sections 9.2 and 9.4 hereof.

Consequences of a Servicer Termination Event. If a Servicer -------------------------------------------- Termination Event shall occur and be continuing, the Trustee shall, if so directed by the Controlling Party, by notice given in writing to the Servicer, terminate the rights and obligations of the Servicer under this Agreement subject to the compensation, rights of reimbursement, indemnity and limitation on liability to which the Servicer is then entitled and the rights of indemnity to which the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Back-up Backup Servicer, the Successor Servicer, the Insurer and the Noteholders are then entitled, in each case pursuant to Sections 9.2 and 9.4 hereof.