Effective Period, Termination and Amendment, and Interpretive and Additional Provisions Clause Samples
This clause defines the duration of the agreement, the conditions under which it can be terminated or amended, and provides guidance on how the contract should be interpreted along with any supplementary provisions. It typically specifies the start and end dates of the contract, outlines the process for making changes or ending the agreement early, and may include rules for resolving ambiguities or addressing unforeseen circumstances. The core function of this clause is to ensure both parties understand the timeline, flexibility, and interpretive framework of the contract, thereby reducing the risk of disputes and providing a clear structure for managing changes or issues that arise during the contract's life.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Agreement shall become effective as of its date and shall continue in full force until terminated in accordance with its terms. This Agreement may be terminated by either the Indenture Trustee with the consent of the Issuer and the Credit Enhancer or by the Custodian in a writing delivered or mailed, postage prepaid, to the other parties and the Credit Enhancer. The termination shall take effect no sooner than sixty days after the date of delivery or mailing. Concurrently with, or as soon as practicable after, the termination of this Agreement, the Indenture Custodian shall deliver the Collateral to the Indenture Trustee (or to a person designated by the Indenture Trustee) anywhere the Indenture Trustee reasonably designates with the consent of the Credit Enhancer, and the Trust Custodian shall deliver any items held exclusively for the Issuer to the Issuer (or to a person designated by the Issuer) anywhere the Issuer reasonably designates with the consent of the Credit Enhancer.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated as hereinafter provided, and may be amended at any time by mutual agreement of the parties hereto. This Agreement may be terminated by either party in a writing delivered or mailed, postage prepaid, to the other party, such termination to take effect no sooner than sixty (60) days after the date of such delivery or mailing. Concurrently with, or as soon as practicable after, the termination of this Agreement, the Custodian shall redeliver the Trustee's Mortgage Files to the Trustee at such place as the Trustee may reasonably designate. In connection with the administration of this Agreement, the Custodian and the Trustee may agree from time to time upon the interpretation of the provisions of this Agreement as may in their opinion by consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed and annexed hereto.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This agreement may be terminated (a) by Citibank’s resignation as Custodian, or (b) by either CitiMortgage or the Trustee. In each case, such termination will be effected by notice to the other parties given no less than 60 days prior to termination. Upon notice of such termination, CitiMortgage will use its reasonable best efforts to select a successor Custodian reasonably acceptable to the Trustee upon substantially the same terms and conditions as set forth in this agreement. If no such successor Custodian has been selected by the 50th day after such notice, the Trustee may, upon prior notice to CitiMortgage, select a successor Custodian. If no successor Custodian has been selected by CitiMortgage or the Trustee by the effective date of the Citibank’s termination, the Trustee will act as successor Custodian until the Trustee and CitiMortgage agree on a successor Custodian. At, or as soon as practicable after, the termination of this agreement, Citibank will deliver the Mortgage Files to the successor Custodian at such place as the successor Custodian reasonably designates.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto and may be terminated by the Co-Trustee in a writing delivered or mailed to the Custodian and The Money Store, postage prepaid, such termination to take effect no sooner than sixty (60) days after the date of such delivery or mailing. Concurrently with, or as soon as practicable after any such termination, the Custodian shall assemble the Trustee's Mortgage Files relating to the Pool III Mortgage Loans and return them to the Co-Trustee at such place as the Co-Trustee may reasonably designate. In connection with the administration of this Agreement, the Custodian and the Co-Trustee may agree from time to time upon the interpretation of the provisions of this Agreement as may in their joint opinion be consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed by all parties and annexed hereto.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Agreement shall become effective as of the date of its execution, shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid, to the other party, such termination to take effect not sooner than sixty (60) days after the date of such delivery or mailing; provided, however, that the Fund shall not amend or terminate this Agreement in contravention of any applicable federal or state laws or regulations, or any provision of the Fund’s Articles of Incorporation, or By-Laws as the same may from time to time, be amended, and further provided, that the Fund may at any time by action of its Board of Directors substitute another bank or trust company for the Bank by giving notice as above to the Bank. In connection with the operations of this Agreement, the Bank and the Fund may agree from time to time on such provisions interpretive of or in addition to the provisions of this Agreement as may in their joint opinion be consistent with the general tenor of this Agreement, any such interpretive or additional provisions to be signed by both parties and annexed hereto, provided that no such interpretive or additional provisions shall contravene any applicable federal or state laws or regulations, or any provision of the Fund’s Articles of Incorporation or By–Laws as the same may from time to time be amended. No interpretive or additional provision made as provided in the preceding sentence shall be deemed to be an amendment of this Agreement.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Custodian Agreement shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If OCAI shall resign as Servicer in accordance with the provisions of the Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Article Eight of the Agreement, the appointment of OCAI as custodian shall be terminated by the Indenture Trustee or by the Holders of Notes in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Article Eight of the Agreement. The Indenture Trustee may terminate OCAI's appointment as custodian, with cause, at any time upon written notification to OCAI, and without cause upon 30 days' prior written notification to OCAI and the Rating Agencies. As soon as practicable after any termination of such appointment, OCAI shall deliver the Contract Files to the Indenture Trustee or the Indenture Trustee's agent at such place or places as the Indenture Trustee may reasonably designate. If OCAI shall be terminated as custodian hereunder for any reason but shall continue to serve as Servicer, the Indenture Trustee shall, or shall cause its agent to, make the Contract Files available to OCAI during normal business hours upon reasonable notice so as to permit OCAI to perform its obligations as Servicer hereunder.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Custodian Agreement shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If GreatAmerica shall resign as Servicer in accordance with the provisions of the Agreement or if all of the rights and obligations of their Servicer shall have been terminated under Article VIII of the Agreement, the appointment of GreatAmerica as custodian shall be terminated by the Indenture Trustee or by the Holders of Notes in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Article VIII of the Agreement. As soon as practicable after such termination of such appointment, GreatAmerica shall deliver, at their expense, the Contract Files to the Indenture Trustee or the Indenture Trustee's agent at such place or places as the Indenture Trustee may reasonably designate
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Custodian Agreement shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If GreatAmerica shall resign as Servicer in accordance with the provisions of the Agreement or if all of the rights and obligations of their Servicer shall have been terminated under Article VIII of the Agreement, the appointment of GreatAmerica as custodian shall be terminated by the Indenture Trustee or by the Holders of Notes in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Article VIII of the Agreement. The Indenture Trustee may terminate GreatAmerica's appointment as custodian, with cause, at any time upon written notification to GreatAmerica, and without cause upon 30 days' prior written notification to GreatAmerica and the Rating Agencies. As soon as practicable after any termination of such appointment, GreatAmerica shall deliver the Contract Files to the Indenture Trustee or the Indenture Trustee's agent at such place or places as the Indenture Trustee may reasonably designate. If GreatAmerica shall be terminated as custodian hereunder for any reason but shall continue to serve as Servicer, the Indenture Trustee shall, or shall cause its agent to, make the Contract Files available to GreatAmerica during normal business hours upon reasonable notice so as to permit GreatAmerica to perform its obligations as Servicer hereunder.
Effective Period, Termination and Amendment, and Interpretive and Additional Provisions. This Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated as hereinafter provided, and may be amended at any time by mutual agreement of the parties hereto. This Agreement may be terminated (a) by the resignation by Bank One as Custodian hereunder or (b) by either CMSI or the Trustee, but only by reason of a material breach by Bank One of its responsibilities, duties or obligations hereunder or under the Pooling Agreement. In each case, such termination shall be effected in a writing delivered or mailed, postage prepaid, to the other parties, such termination to take effect no sooner than sixty (60) days after the date of such delivery or mailing. Upon notice of such termination, CMSI shall use its reasonable best efforts to select a successor custodian reasonably acceptable to the Trustee upon substantially the same terms and conditions as set forth in this Agreement. In the event that no such successor custodian has been selected by the 50th day after such notice, the Trustee may, upon prior notice to CMSI, select a successor custodian. If no successor custodian has been selected by CMSI or the Trustee by the effective date of such termination, the Trustee shall act as Mortgage Document Custodian and Mortgage Note Custodian on and after such effective date, unless thereafter the Trustee and CMSI shall agree as to a successor custodian. Concurrently with, or as soon as practicable after, the termination of this Agreement, Bank One shall redeliver the Mortgage Files (x) if a successor custodian has been selected as aforesaid, to such successor custodian at such place as it may reasonably designate or (y) otherwise, to the Trustee or its designee at such place as the Trustee may reasonably designate. In connection with the administration of this Agreement, the parties hereto may agree from time to time upon the interpretation of the provisions of this Agreement as may in their opinion be consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed and annexed hereto.