Common use of Event of Servicing Termination Clause in Contracts

Event of Servicing Termination. If the Issuer has actual knowledge of the occurrence of a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, the Issuer will promptly notify the Indenture Trustee and the Rating Agencies of such occurrence and specify in such notice any action the Issuer is taking in respect of such event. If an Exchange Note Servicer Event of Default arises from the failure of the Servicer to perform any of its duties and obligations under the Servicing Agreement with respect to the 2011-A Collateral, the Issuer will take all reasonable steps available to cause the Servicer to remedy such failure.

Event of Servicing Termination. If the Issuer has actual knowledge of the occurrence of a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, the Issuer will promptly notify the Indenture Trustee and the Rating Agencies of such occurrence and specify in such notice any action the Issuer is taking in respect of such event. If an Exchange Note Servicer Event of Default arises from the failure of the Servicer to perform any of its duties and obligations under the Servicing Agreement with respect to the 2011-A B Collateral, the Issuer will take all reasonable steps available to cause the Servicer to remedy such failure.

Event of Servicing Termination. If the Issuer has actual knowledge of the occurrence of a Facility Servicer Event of Default or Exchange Note Servicer Event of Default, the Issuer will promptly notify the Indenture Trustee and the Rating Agencies of such occurrence and specify in such notice any action the Issuer is taking in respect of such event. If an Exchange Note Servicer Event of Default arises from the failure of the Servicer to perform any of its duties and obligations under the Servicing Agreement with respect to the 2011-A 20_-_ Collateral, the Issuer will take all reasonable steps available to cause the Servicer to remedy such failure.