Common use of Effect of Termination or Resignation Clause in Contracts

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Current Issuer Cash Manager under this Agreement shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Issuer or the Note Trustee pursuant to this Agreement. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Issuer or the Note Trustee, as the case may be) to the Current Issuer or the Note Trustee, as the case may be or as it shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Issuer or the Note Trustee, as the case may be, (if practicable, on the date of receipt) any monies then held by the Current Issuer Cash Manager on behalf of the Current Issuer, the Note Trustee and any other assets of the Current Issuer and the Note Trustee; (ii) take such further action as the Current Issuer or the Note Trustee, as the case may be, may reasonably direct PROVIDED THAT the Note Trustee shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Issuer and the Note Trustee, the directions of the Note Trustee shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Issuer or the Note Trustee or its nominee, as the case may be, (which shall, for the avoidance of doubt, include any Receiver appointed by it) for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Issuer or the Note Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Current Issuer Cash Manager under this Agreement shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee pursuant to this Agreement. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee, as the case may be) to the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee, as the case may be or as it shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee, as the case may be, be (if practicable, on the date of receipt) ), any monies then held by the Current Issuer Cash Manager on behalf of the Current IssuerMortgages Trustee, Funding or, the Note Security Trustee and any other assets of the Current Issuer Mortgages Trustee, Funding and the Note Security Trustee; (ii) take such further action as the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee, as the case may be, may reasonably direct PROVIDED THAT at the Note expense of the Mortgages Trustee or Funding, provided that the Cash Manager shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Issuer Funding, the Mortgages Trustee and the Note Security Trustee, the directions of the Note Security Trustee shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Issuer Mortgages Trustee, Funding or the Note Security Trustee or its nominee, as the case may be, be (which shall, for the avoidance of doubt, include any Receiver appointed by it) ), for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Issuer Mortgages Trustee, Funding, or the Note Security Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Current Issuer Cash Manager under this Agreement and each other Transaction Document to which it is a party shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Issuer Mortgages Trustee, each Funding Beneficiary or the Note each Funding Security Trustee pursuant to this AgreementAgreement and each other Transaction Document to which it is a party. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be) to the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be or as it they shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Issuer Mortgages Trustee, any Funding Beneficiary or the Note any Funding Security Trustee, as the case may be, be (if practicable, on the date of receipt) ), any monies and any other assets then held by the Current Issuer Cash Manager on behalf of the Current IssuerMortgages Trustee, the Note Trustee and any other assets of the Current Issuer and the Note Funding Beneficiary or any Funding Security Trustee; (ii) take such further action as the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be, may reasonably direct PROVIDED THAT at the Note expense of the Mortgages Trustee or each Funding Beneficiary, provided that the Cash Manager shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Issuer the Funding Beneficiaries, the Mortgages Trustee and the Note TrusteeFunding Security Trustees, the directions of the Note Trustee Funding Security Trustees shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Issuer or the Note Mortgages Trustee, each Funding Beneficiary and each Funding Security Trustee or its nominee, as the case may be, be (which shall, for the avoidance of doubt, include any Receiver appointed by it) for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Issuer or Mortgages Trustee, the Note applicable Funding Beneficiary, the applicable Funding Security Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination of the appointment or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12Article 14, all authority and power of the Current Issuer Cash Manager under this Agreement shall will be terminated and be of no further effect and the Current Issuer Cash Manager shall will not thereafter hold itself out in any way as the agent of the Current Issuer or the Note Trustee Guarantor pursuant to this Agreement. (b) Upon termination of the appointment or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12Article 14, the Current Issuer Cash Manager shallwill: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Issuer Guarantor or the Note Bond Trustee, as the case may be) to the Current Issuer Guarantor or the Note Bond Trustee, as the case may be be, or as it shall directthe Guarantor or the Bond Trustee will direct (and in the event of a conflict between directions from the Guarantor and directions from the Bond Trustee, the directions of the Bond Trustee will prevail), all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Issuer Guarantor or the Note Bond Trustee, as the case may be, be (if practicable, on the date of receipt) ), any monies funds then held by the Current Issuer Cash Manager on behalf of the Current Issuer, Guarantor or the Note Bond Trustee and any other assets of the Current Issuer Guarantor and the Note Bond Trustee; (ii) take such further action as the Current Issuer Guarantor or the Note Bond Trustee, as the case may be, may reasonably direct PROVIDED THAT at the Note Trustee shall expense of the Cash Manager (including in relation to the appointment of a Substitute Cash Manager), provided that the Guarantor or the Bond Trustee, as the case may be, will not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Issuer the Guarantor and the Note directions of the Bond Trustee, the directions of the Note Bond Trustee shall will prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tapea flat file and/or upon electronic media (including, but not limited to, CD-ROM) together with details of the layout of the files encoded on set out in such magnetic tapesflat file and/or such electronic media; and (iv) co-operate and consult with and assist the Current Issuer Guarantor or the Note Bond Trustee or its nominee, as the case may be, be (which shallwill, for the avoidance of doubt, include any Receiver appointed by it) ), for the purposes of explaining the file layouts and the format of the magnetic tapes generally flat file/electronic media containing such computer records on the computer system of the Current Issuer Guarantor or the Note Bond Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement and the other Issuer Transaction Documents pursuant to this Clause 1211, all authority and power of the Current Issuer Cash Manager under this Agreement shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Master Issuer or the Note Issuer Security Trustee pursuant to this Agreement. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 1211, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Master Issuer or the Note Issuer Security Trustee, as the case may be) to the Current Master Issuer or the Note Issuer Security Trustee, as the case may be or as it shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Master Issuer or the Note Issuer Security Trustee, as the case may be, (if practicable, on the date of receipt) any monies then held by the Current Issuer Cash Manager on behalf of the Current Master Issuer, the Note Issuer Security Trustee and any other assets of the Current Master Issuer and the Note Issuer Security Trustee; (ii) take such further action as the Current Master Issuer or the Note Issuer Security Trustee, as the case may be, may reasonably direct PROVIDED THAT the Note Issuer Security Trustee shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Master Issuer and the Note Issuer Security Trustee, the directions of the Note Issuer Security Trustee shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Master Issuer or the Note Issuer Security Trustee or its nominee, as the case may be, (which shall, for the avoidance of doubt, include any Receiver appointed by it) for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Master Issuer or the Note Issuer Security Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 1211, all authority and power of the Current Issuer Cash Manager under this Agreement shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Master Issuer or the Note Issuer Security Trustee pursuant to this Agreement. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 1211, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Master Issuer or the Note Issuer Security Trustee, as the case may be) to the Current Master Issuer or the Note Issuer Security Trustee, as the case may be or as it shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Master Issuer or the Note Issuer Security Trustee, as the case may be, (if practicable, on the date of receipt) any monies then held by the Current Issuer Cash Manager on behalf of the Current Master Issuer, the Note Issuer Security Trustee and any other assets of the Current Master Issuer and the Note Issuer Security Trustee; (ii) take such further action as the Current Master Issuer or the Note Issuer Security Trustee, as the case may be, may reasonably direct PROVIDED THAT the Note Issuer Security Trustee shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Master Issuer and the Note Issuer Security Trustee, the directions of the Note Issuer Security Trustee shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Master Issuer or the Note Issuer Security Trustee or its nominee, as the case may be, (which shall, for the avoidance of doubt, include any Receiver appointed by it) for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Master Issuer or the Note Issuer Security Trustee or such nominee, as the case may be.

Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Current Issuer Cash Manager under this Agreement shall be terminated and be of no further effect and the Current Issuer Cash Manager shall not thereafter hold itself out in any way as the agent of the Current Issuer Mortgages Trustee, each Funding Beneficiary or the Note each Funding Security Trustee pursuant to this Agreement. (b) Upon termination or resignation of the appointment of the Current Issuer Cash Manager under this Agreement pursuant to this Clause 12, the Current Issuer Cash Manager shall: (i) forthwith deliver (and in the meantime hold on trust for, and to the order of, the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be) to the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be or as it they shall direct, all books of account, papers, records, registers, correspondence and documents in its possession or under its control relating to the affairs of or belongings of the Current Issuer Mortgages Trustee, any Funding Beneficiary or the Note any Funding Security Trustee, as the case may be, be (if practicable, on the date of receipt) ), any monies and any other assets then held by the Current Issuer Cash Manager on behalf of the Current IssuerMortgages Trustee, the Note Trustee and any other assets of the Current Issuer and the Note Funding Beneficiary or any Funding Security Trustee; (ii) take such further action as the Current Issuer Mortgages Trustee, the Funding Beneficiaries or the Note TrusteeFunding Security Trustees, as the case may be, may reasonably direct PROVIDED THAT at the Note expense of the Mortgages Trustee or each Funding Beneficiary, provided that the Cash Manager shall not be required to take or direct to be taken such further action unless it has been indemnified to its satisfaction (and in the event of a conflict between the directions of Current Issuer the Funding Beneficiaries, the Mortgages Trustee and the Note TrusteeFunding Security Trustees, the directions of the Note Trustee Funding Security Trustees shall prevail); (iii) provide all relevant information contained on computer records in the form of magnetic tape, together with details of the layout of the files encoded on such magnetic tapes; and (iv) co-operate and consult with and assist the Current Issuer or the Note Mortgages Trustee, each Funding Beneficiary and each Funding Security Trustee or its nominee, as the case may be, be (which shall, for the avoidance of doubt, include any Receiver appointed by it) for the purposes of explaining the file layouts and the format of the magnetic tapes generally containing such computer records on the computer system of the Current Issuer or Mortgages Trustee, the Note applicable Funding Beneficiary, the applicable Funding Security Trustee or such nominee, as the case may be.