Common use of Notice of Event of Servicing Termination Clause in Contracts

Notice of Event of Servicing Termination. Immediately upon becoming aware of the existence of any condition or event which constitutes an Event of Servicing Termination or an Event of Default, or any event which, with the lapse of time and/or the giving of notice, would constitute an Event of Servicing Termination or an Event of Default and which, in each case, has not been waived in writing by the Majority Holders, a written notice describing its nature and period of existence and, in the case of an Event of Servicing Termination, the action the Servicer is taking or proposes to take with respect thereto; and

Notice of Event of Servicing Termination. Immediately upon becoming aware of the existence of any condition or event which constitutes an Event of Servicing Termination or an Event of Default, or any event which, with the notice and lapse of time and/or the giving of noticetime, would constitute an become and Event of Servicing Termination or an Event of Default and which, in each case, has not been waived in writing by the Majority HoldersTermination, a written notice describing its nature and period of existence and, in the case of an Event of Servicing Termination, the and what action the Servicer is taking or proposes propose to take with respect thereto; and;

Notice of Event of Servicing Termination. Immediately upon becoming aware of the existence of any condition or event which constitutes an Event of Servicing Termination or an Event of Default, or any event which(other than any payments which have not yet come due), which with the lapse of time and/or the giving of notice, notice would constitute an Event of Servicing Termination or an Event of Default and which, in each case, has not been waived in writing by the Majority Holders, or a written notice describing its nature and period of existence and, in the case of an Event of Servicing Termination, the which action the Servicer is taking or proposes to take with respect thereto; and