Common use of JPMorgan Right to Terminate Clause in Contracts

JPMorgan Right to Terminate. JPMorgan and the Institutional Investors have entered into a confidential letter agreement that provides JPMorgan the right to terminate this Settlement Agreement in the event (i) Trustees for a certain number of Trusts, measured by losses on the Mortgage Loans, have not accepted this Settlement Agreement by the Acceptance Date (the “Confidential Percentage”); (ii) in the event of a Judicial Instruction Extension, a certain number of Trusts measured by losses on the Mortgage Loans are excluded or do not obtain Final Court Approval; or (iii) Final Court Approval is not obtained by July 15, 2017. The Trustees shall be entitled to know the Confidential Percentage, so long as they agree to hold such percentage in confidence. JPMorgan’s right to terminate this Agreement upon the occurrence of an event described in this paragraph shall be exercised within 30 days following the occurrence of that event. JPMorgan shall provide written notice to the Institutional Investors and any Accepting Trustees of the exercise of its right to terminate this Settlement Agreement in accordance with the terms thereof.