Common use of Determination of the Terminating Entity Clause in Contracts

Determination of the Terminating Entity. (a) The Trustee shall determine the “Terminating Entity” as follows: (i) the Holder of the largest Percentage Interest of Class X-1 Certificates, unless (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (ii) the Holder of the next largest Percentage Interest of Class X-1 Certificates, if (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (iii) the Majority Servicer on the Optional Termination Date, if (1) the Depositor or an Affiliate of the Depositor is the Holder of 100% of the Class X-1 Certificates and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; provided, however that if the Majority Servicer does not exercise its option to purchase the Mortgage Loans, all real property acquired in respect of the Mortgage Loans remaining in the Trust, and any remaining trust assets, each other Servicer, in sequential order from the Servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicing the smallest percentage, in each case by outstanding principal balance of the Mortgage Loans on such Optional Termination Date, shall be the Terminating Entity; provided, that, if a Holder of Class X-1 Certificates is eligible to be the Terminating Entity on any Optional Termination Date and does not exercise its right to purchase all of the Mortgage Loans from the Trust, the option to purchase the Mortgage Loans on such Optional Termination Date shall not be exercised. (b) If the Terminating Entity, as set forth in Section 9.04(a) above, elects to direct the Majority Servicer to purchase all Mortgage Loans and all property acquired in respect of any remaining Mortgage Loan, on behalf of the Terminating Entity, such party must give written notice to the Trustee no later than twenty (20) days prior to the first day of the Optional Termination Notice Period. Upon receiving such notice, the Trustee shall immediately request from DLJMC and DLJMC shall deliver no later than seventeen (17) days prior to the first day of the Optional Termination Notice Period a letter indicating whether or not DLJMC retains the servicing rights to any Mortgage Loan. For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity. (c) No later than fifteen (15) days prior to the first day of the Optional Termination Notice Period, the Trustee shall provide notice to each Servicer that is a servicer of any of the Mortgage Loans of the identity of the Terminating Entity.

Determination of the Terminating Entity. (a) The Trustee shall determine the “Terminating Entity” as follows: (i) the Holder of the largest Percentage Interest of Class X-1 Certificates, unless (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (ii) the Holder of the next largest Percentage Interest of Class X-1 Certificates, if (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (iii) the Majority Servicer on the Optional Termination Date, if (1) the Depositor or an Affiliate of the Depositor is the Holder of 100% of the Class X-1 Certificates and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; provided, however that if the Majority Servicer does not exercise its option to purchase the Mortgage Loans, all real property acquired in respect of the Mortgage Loans remaining in the Trust, and any remaining trust assets, each other Servicer, in sequential order from the Servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicing the smallest percentage, in each case by outstanding principal balance of the Mortgage Loans on such Optional Termination Date, shall be the Terminating Entity; provided, that, if a Holder of Class X-1 Certificates is eligible to be the Terminating Entity on any Optional Termination Date and does not exercise its right to purchase all of the Mortgage Loans from the Trust, the option to purchase the Mortgage Loans on such Optional Termination Date shall not be exercised. (b) If the Terminating Entity, as set forth in Section 9.04(a) above, elects to direct the Majority Servicer to purchase all Mortgage Loans and all property acquired in respect of any remaining Mortgage Loan, on behalf of the Terminating Entity, such party must give written notice to the Trustee no later than twenty (20) days prior to the first day of the Optional Termination Notice Period. Upon receiving such notice, the Trustee shall immediately request from DLJMC and DLJMC shall deliver no later than seventeen (17) days prior to the first day of the Optional Termination Notice Period a letter indicating whether or not DLJMC retains the servicing rights to any Mortgage Loan. For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity. (c) No later than fifteen (15) days prior to the first day of the Optional Termination Notice Period, the Trustee shall provide notice to each Servicer that is a servicer of any of the Mortgage Loans of the identity of the Terminating Entity.

Determination of the Terminating Entity. (a) The Trustee shall determine the “Terminating Entity” as follows: (i) the Holder of the largest Percentage Interest of Class X-1 Certificates, unless (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (ii) the Holder of the next largest Percentage Interest of Class X-1 Certificates, if (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (iii) the Majority Servicer on the Optional Termination Date, if (1) the Depositor or an Affiliate of the Depositor is the Holder of 100% of the Class X-1 Certificates and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; provided, however that if the Majority Servicer does not exercise its option to purchase the Mortgage Loans, all real property acquired in respect of the Mortgage Loans remaining in the Trust, and any remaining trust assets, each other Servicer, in sequential order from the Servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicing the smallest percentage, in each case by outstanding principal balance of the Mortgage Loans on such Optional Termination Date, shall be the Terminating Entity; provided, that, if a Holder of Class X-1 Certificates is eligible to be the Terminating Entity on any Optional Termination Date and does not exercise its right to purchase all of the Mortgage Loans from the Trust, the option to purchase the Mortgage Loans on such Optional Termination Date shall not be exercised. (b) If the Terminating Entity, as set forth in Section 9.04(a) above, elects to direct the Majority Servicer to purchase all Mortgage Loans and all property acquired in respect of any remaining Mortgage Loan, on behalf of the Terminating Entity, such party must give written notice to the Trustee no later than twenty (20) days prior to the first day of the Optional Termination Notice Period. Upon receiving such notice, the Trustee shall immediately request from DLJMC and DLJMC shall deliver no later than seventeen (17) days prior to the first day of the Optional Termination Notice Period a letter indicating whether or not DLJMC retains the servicing rights to any Mortgage Loan. For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity. (c) No later than fifteen (15) days prior to the first day of the Optional Termination Notice Period, the Trustee shall provide notice to each the Servicer that is a servicer of any of the Mortgage Loans of the identity of the Terminating Entity.

Determination of the Terminating Entity. (a) The Indenture Trustee shall determine the “Terminating Entity” as follows: (i) the Holder of the largest Percentage Interest of Class X-1 Certificates, unless (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (ii) the Holder of the next largest Percentage Interest of Class X-1 Certificates, if (1) the Holder of the largest Percentage Interest of Class X-1 Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (iii) the Majority Servicer on the Optional Termination Date, if (1) the Depositor or an Affiliate of the Depositor is the Holder of 100% of the Class X-1 Certificates and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; provided, however that if the Majority Servicer does not exercise its option to purchase the Mortgage Loans, all real property acquired in respect of the Mortgage Loans remaining in the Trust, and any remaining trust assets, each other Servicer, in sequential order from the Servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicing the smallest percentage, in each case by outstanding principal balance of the Mortgage Loans on such Optional Termination Date, shall be the Terminating Entity; provided, that, if a Holder of Class X-1 Certificates is eligible to be the Terminating Entity on any Optional Termination Date and does not exercise its right to purchase all of the Mortgage Loans from the Trust, the option to purchase the Mortgage Loans on such Optional Termination Date shall not be exercised. (b) If the Terminating Entity, as set forth in Section 9.04(a10.21(a) above, elects to direct the Majority Servicer to purchase all Mortgage Loans and all property acquired in respect of any remaining Mortgage Loan, on behalf of the Terminating Entity, such party must give written notice to the Indenture Trustee no later than twenty (20) days prior to the first day of the Optional Termination Notice Period. Upon receiving such notice, the Indenture Trustee shall immediately request from DLJMC and DLJMC shall deliver no later than seventeen (17) days prior to the first day of the Optional Termination Notice Period a letter indicating whether or not DLJMC retains the servicing rights to any Mortgage Loan. For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity. (c) No later than fifteen (15) days prior to the first day of the Optional Termination Notice Period, the Trustee shall provide notice to each Servicer that is a servicer of any of the Mortgage Loans of the identity of the Terminating Entity.

Determination of the Terminating Entity. (a) The With respect to the purchase of the Mortgage Loans, the Trustee shall determine the “Terminating Entity” as follows: (i) the Holder of the largest Percentage Interest of Class X-1 X Certificates, unless (1) the Holder of the largest Percentage Interest of Class X-1 X Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (ii) the Holder of the next largest Percentage Interest of Class X-1 X Certificates, if (1) the Holder of the largest Percentage Interest of Class X-1 X Certificates is the Depositor or an Affiliate of the Depositor and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; (iii) the Majority Servicer on the Optional Termination Date, if (1) the Depositor or an Affiliate of the Depositor is the Holder of 100% of the Class X-1 X Certificates and (2) DLJMC is not the owner of the servicing rights with respect to any Mortgage Loan on the Optional Termination Date; provided, however however, that if the Majority such Servicer does not exercise its option to purchase the Mortgage Loans, all real property acquired in respect of the Mortgage Loans remaining in the Trust, and any remaining trust assets, each other Servicerservicer, in sequential order from the Servicer servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicer servicing the smallest percentage, in each case by outstanding principal balance of the Mortgage Loans on such Optional Termination Date, shall be the Terminating Entity; provided, that, if a Holder of Class X-1 Certificates is eligible to be the Terminating Entity on any Optional Termination Date and does not exercise its right to purchase all of the Mortgage Loans from the Trust, the option to purchase the Mortgage Loans on such Optional Termination Date shall not be exercised. (b) If the Terminating Entity, as set forth in Section 9.04(a) above, elects to direct the Majority Servicer to purchase all Mortgage Loans and all property acquired in respect of any remaining Mortgage Loan, on behalf of the Terminating Entity, such party must give written notice to the Trustee no later than twenty (20) days prior to the first day of the Optional Termination Notice Period. Upon receiving such notice, the Trustee shall immediately request from DLJMC and DLJMC shall deliver no later than seventeen (17) days prior to the first day of the Optional Termination Notice Period a letter indicating whether or not DLJMC retains the servicing rights to any Mortgage Loan. For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity. (c) No later than fifteen (15) days prior to the first day of the Optional Termination Notice Period, the Trustee shall provide notice to each the Servicer that is a servicer of any of the Mortgage Loans of the identity of the Terminating Entity.