Common use of Following the Occurrence of a Jump Termination Event Clause in Contracts

Following the Occurrence of a Jump Termination Event. Following the occurrence of a Jump Termination Event, the Required Owners will have the right to require that the Jump Contract Feature of Eligible Jump Receivables that are part of the Transferred Assets be terminated by notice to the Servicer. Within two (2) Business Days of receipt by the Servicer of the original notice from the Required Owners, the Servicer will send (or will cause TMUS to send) notice to the related third party to the Jump Contracts (the “Third Party Jump Payor”) directing the Third Party Jump Payor to send to the Obligors of Eligible Jump Receivables a notice as soon as is reasonably practicable, but in any event within ten (10) Business Days, following receipt of the notice to the Third Party Jump Payor that the Jump Contract Feature will be terminated (the “Third Party Jump Notice”). The Third Party Jump Notice will provide that the Jump Contract Feature of the Eligible Jump Receivables that are part of the Transferred Assets be terminated thirty (30) days following the date of delivery of such notice (the “Jump Termination Date”). The Servicer and TMUS will agree to terminate (or cause their Affiliates to terminate) the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date. The Servicer and TMUS shall execute (or cause their Affiliates to execute) such termination documents and take such other actions as shall reasonably be requested by the Required Owners. In connection with this Section 2.15(b), TMUS acknowledges and agrees that it shall act upon the direction of the Servicer (including any Successor Servicer) in connection with any termination of the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date.

Appears in 3 contracts

Samples: Receivables Purchase and Administration Agreement (T-Mobile US, Inc.), Administration Agreement (T-Mobile US, Inc.), Receivables Purchase and Administration Agreement (T-Mobile US, Inc.)

AutoNDA by SimpleDocs

Following the Occurrence of a Jump Termination Event. Following the occurrence of a Jump Termination Event, the Required Owners will have the right to require that the Jump Contract Feature of Eligible Jump Receivables that are part of the Transferred Assets be terminated by notice to the Servicer. Within As soon as is reasonably practicable, but in any event within two (2) Business Days of Days, following receipt by the Servicer of the original notice from the Required Owners, the Servicer will send (or will cause TMUS to send) notice to the related third party to the Jump Contracts (the “Third Party Jump Payor”) directing the Third Party Jump Payor to send to the Obligors of Eligible Jump Receivables a notice as soon as is reasonably practicable, but in any event within ten (10) Business Days, following receipt of the notice to the Third Party Jump Payor that the Jump Contract Feature will be terminated (the “Third Party Jump Termination Notice”). The Third Party Jump Termination Notice will provide that the Jump Contract Feature of the Eligible Jump Receivables that are part of the Transferred Assets be terminated thirty (30) days following the date of delivery of such notice (the “Jump Termination Date”). The Servicer and TMUS will agree to terminate (or cause their Affiliates to terminate) the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date. The Servicer and TMUS shall execute (or cause their Affiliates to execute) such termination documents and take such other actions as shall reasonably be requested by the Required Owners. In connection with this Section 2.15(b), TMUS acknowledges and agrees that it shall act upon the direction of the Servicer (including any Successor Servicer) in connection with any termination of the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date.

Appears in 1 contract

Samples: Receivables Purchase and Administration Agreement (T-Mobile US, Inc.)

Following the Occurrence of a Jump Termination Event. Following the occurrence of a Jump Termination Event, the Required Owners will have the right to require that the Jump Contract Feature of Eligible Jump Receivables that are part of the Transferred Assets be terminated by notice to the Servicer. Within two (2) Business Days of receipt by the Servicer of the original notice from the Required Owners, the Servicer will send (or will cause TMUS to send) notice to the related third party to the Jump Contracts (the “Third Party Jump Payor”) directing the Third Party Jump Payor to send to the Obligors of Eligible Jump Receivables a notice as soon as is reasonably practicable, but in any event within ten (10) Business Days, following receipt of the notice to the Third Party Jump Payor that the Jump Contract Feature will be terminated (the “Third Party Jump Notice”). The Third Party Jump Notice will provide that the Jump Contract Feature of the Eligible Jump Receivables that are part of the Transferred Assets be terminated thirty (30) days following the date of delivery of such notice (the “Jump Termination Date”). The Servicer and TMUS will agree to terminate (or cause their its Affiliates to terminate) the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date. The Servicer and TMUS shall execute (or cause their Affiliates to execute) such termination documents and take such other actions as shall reasonably be requested by the Required Owners. In connection with this Section 2.15(b), TMUS acknowledges and agrees that it shall act upon the direction of the Servicer (including any Successor Servicer) in connection with any termination of the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date.

Appears in 1 contract

Samples: Receivables Purchase and Administration Agreement (T-Mobile US, Inc.)

Following the Occurrence of a Jump Termination Event. Following the occurrence of a Jump Termination Event, the Required Owners will have the right to require that the Jump Contract Feature of Eligible Jump Receivables that are part of the Transferred Assets 736942168 19632398738387080 be terminated by notice to the Servicer. Within As soon as is reasonably practicable, but in any event within two (2) Business Days of Days, following receipt by the Servicer of the original notice from the Required Owners, the Servicer will send (or will cause TMUS to send) notice to the related third party to the Jump Contracts (the “Third Party Jump Payor”) directing the Third Party Jump Payor to send to the Obligors of Eligible Jump Receivables a notice as soon as is reasonably practicable, but in any event within ten (10) Business Days, following receipt of the notice to the Third Party Jump Payor that the Jump Contract Feature will be terminated (the “Third Party Jump Termination Notice”). The Third Party Jump Termination Notice will provide that the Jump Contract Feature of the Eligible Jump Receivables that are part of the Transferred Assets be terminated thirty (30) days following the date of delivery of such notice (the “Jump Termination Date”). The Servicer and TMUS will agree to terminate (or cause their Affiliates to terminate) the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date. The Servicer and TMUS shall execute (or cause their Affiliates to execute) such termination documents and take such other actions as shall reasonably be requested by the Required Owners. In connection with this Section 2.15(b), TMUS acknowledges and agrees that it shall act upon the direction of the Servicer (including any Successor Servicer) in connection with any termination of the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date.

Appears in 1 contract

Samples: Receivables Purchase and Administration Agreement (T-Mobile US, Inc.)

AutoNDA by SimpleDocs

Following the Occurrence of a Jump Termination Event. Following the occurrence of a Jump Termination Event, the Required Owners will have the right to require that the Jump Contract Feature of Eligible Jump Receivables that are part of the Transferred Assets be terminated by notice to the Servicer. Within WithinAs soon as is reasonably practicable, but in any event within two (2) Business Days of of, following receipt by the Servicer of the original notice from the Required Owners, the Servicer will send (or will cause TMUS to send) notice to the related third party to the Jump Contracts (the “Third Party Jump Payor”) directing the Third Party Jump Payor to send to the Obligors of Eligible Jump Receivables a notice as soon as is reasonably practicable, but in any event within ten (10) Business Days, following receipt of the notice to the Third Party Jump Payor that the Jump Contract Feature will be terminated (the “Third Party Jump Termination Notice”). The Third Party Jump Termination Notice will provide that the Jump Contract Feature of the Eligible Jump Receivables that are part of the Transferred Assets be terminated thirty (30) days following the date of delivery of such notice (the “Jump Termination Date”). The Servicer and TMUS will agree to terminate (or cause their Affiliates to terminate) the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date. The Servicer and TMUS shall execute (or cause their Affiliates to execute) such termination documents and take such other actions as shall reasonably be requested by the Required Owners. In connection with this Section 2.15(b), TMUS acknowledges and agrees that it shall act upon the direction of the Servicer -68- 00000000 T-Mobile (including any Successor ServicerEIP) in connection with any termination of the Jump Contracts of the Eligible Jump Receivables that are part of the Transferred Assets on the Jump Termination Date.Third A&R RPAA NJ 231109207v1 736153181 19632398

Appears in 1 contract

Samples: Receivables Purchase and Administration Agreement (T-Mobile US, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.