Common use of Notice of Events of Termination Clause in Contracts

Notice of Events of Termination. No Managing Agent shall be deemed to have knowledge or notice of the occurrence of any Incipient Termination Event or of any Termination Event unless such Managing Agent has received notice from the Administrative Agent, any other Managing Agent, any Conduit Purchaser or Committed Purchaser or the Seller stating that an Incipient Termination Event or Termination Event has occurred hereunder and describing such Incipient Termination Event or Termination Event. If a Managing Agent receives such a notice, it shall promptly give notice thereof to the Conduit Purchasers and Committed Purchasers in its Purchaser Group and to the Administrative Agent (but only if such notice received by such Managing Agent was not sent by the Administrative Agent). The Managing Agent may take such action concerning an Incipient Termination Event or a Termination Event as may be directed by Committed Purchasers in its Purchaser Group representing a majority of the Commitments in such Purchaser Group (subject to the other provisions of this Article IX), but until such Managing Agent receives such directions, such Managing Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as such Managing Agent deems advisable and in the best interests of the Conduit Purchasers and Committed Purchasers in its Purchaser Group.

Notice of Events of Termination. No Managing Funding Agent shall be deemed to have knowledge or notice of the occurrence of any Incipient Termination Event or of any Termination Event unless such Managing Funding Agent has received notice from the Administrative Agent, any other Managing Funding Agent, any Conduit Purchaser Lender or Committed Purchaser Lender, the Collection Agent or the Seller Borrower stating that an Incipient Termination Event or Termination Event has occurred hereunder and describing such Incipient Termination Event or Termination Event. If a Managing Funding Agent receives such a notice, it shall promptly give notice thereof to the Conduit Purchasers Lenders and Committed Purchasers Lenders in its Purchaser Lender Group and to the Administrative Agent (but only if such notice received by such Managing Funding Agent was not sent by the Administrative Agent). The Managing Funding Agent may take such action concerning an Incipient Termination Event or a Termination Event as may be directed by Committed Purchasers Lenders in its Purchaser Lender Group representing a majority of the Commitments in such Purchaser Lender Group (subject to the other provisions of this Article IX), but until such Managing Funding Agent receives such directions, such Managing Funding Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as such Managing Funding Agent deems advisable and in the best interests of the Conduit Purchasers Lenders and Committed Purchasers Lenders in its Purchaser Lender Group.

Notice of Events of Termination. No Managing Purchaser Agent shall be deemed to have knowledge or notice of the occurrence of any Incipient Termination Facility Event or of any Termination Portfolio Event or and other default or termination event under the Transaction Documents unless such Managing Purchaser Agent has received notice from the Administrative Agent, any other Managing Agent, any Conduit Purchaser or Committed Purchaser Purchaser, any Servicer Party or the Seller stating that an Incipient Termination a Facility Event or Termination Portfolio Event or default or termination event under the Transaction Documents, as the case may be, has occurred hereunder or thereunder and describing such Incipient Termination Event termination event or Termination Eventdefault. If a Managing Purchaser Agent receives such a notice, it shall promptly give notice thereof to the Conduit Purchasers and Committed Purchasers in its Purchaser Group and to the Administrative Agent (but only if such notice received by such Managing Purchaser Agent was not sent by the Administrative Agent). The Managing A Purchaser Agent may take such action concerning an Incipient Termination a Facility Event or a Termination Portfolio Event as may be directed by Committed Purchasers in its Purchaser Group representing a majority of the Commitments in such Purchaser Group (subject to the other provisions of this Article IXSection 9), but until such Managing Purchaser Agent receives such directions, such Managing Purchaser Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as such Managing Purchaser Agent deems advisable and in the best interests of the Conduit Purchasers and Committed Purchasers in its Purchaser Group.. 131 949049213.2

Notice of Events of Termination. No Managing Funding Agent shall be deemed to have knowledge or notice of the occurrence of any Incipient Termination Facility Event or of any Termination Event and other default or termination event under the Transaction Documents unless such Managing Funding Agent has received notice from the Administrative Agent, any other Managing Funding Agent, any Conduit Purchaser Lender or Committed Purchaser Lender, any Servicer Party or the Seller Borrower stating that an Incipient Termination a Facility Event or Termination Event default or termination event under the Transaction Documents, as the case may be, has occurred hereunder or thereunder and describing such Incipient Termination Event event or Termination Eventdefault. If a Managing Funding Agent receives such a notice, it shall promptly give notice thereof to the Conduit Purchasers Lenders and Committed Purchasers Lenders in its Purchaser Lender Group and to the Administrative Agent (but only if such notice received by such Managing Agent was not sent by the Administrative Agent). The Managing Funding Agent may take such action concerning an Incipient Termination Event or a Termination Facility Event as may be directed by Committed Purchasers Lenders in its Purchaser Lender Group representing a majority of the Commitments in such Purchaser Lender Group (subject to the other provisions of this Article IXClause 9), but until such Managing Funding Agent receives such directions, such Managing Funding Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as such Managing Funding Agent deems advisable and in the best interests of the Conduit Purchasers Lenders and Committed Purchasers Lenders in its Purchaser Lender Group.

Notice of Events of Termination. No Managing Purchaser Agent shall be deemed to have knowledge or notice of the occurrence of any Incipient Termination Facility Event or of any Termination Portfolio Event or and other default or termination event under the Transaction Documents unless such Managing Purchaser Agent has received notice from the Administrative Agent, any other Managing Agent, any Conduit Purchaser or Committed Purchaser Purchaser, any Servicer Party or the Seller stating that an Incipient Termination a Facility Event or Termination Portfolio Event or default or termination event under the Transaction Documents, as the case may be, has occurred hereunder or thereunder and describing such Incipient Termination Event termination event or Termination Eventdefault. If a Managing Purchaser Agent receives such a notice, it shall promptly give notice thereof to the Conduit Purchasers and Committed Purchasers in its Purchaser Group and to the Administrative Agent (but only if such notice received by such Managing Purchaser Agent was not sent by the Administrative Agent). The Managing A Purchaser Agent may take such action concerning an Incipient Termination a Facility Event or a Termination Portfolio Event as may be directed by Committed Purchasers in its Purchaser Group representing a majority of the Commitments in such Purchaser Group (subject to the other provisions of this Article IXSection 9), but until such Managing Purchaser Agent receives such directions, such Managing Purchaser Agent may (but shall not be obligated to) take such action, or refrain from taking such action, as such Managing Purchaser Agent deems advisable and in the best interests of the Conduit Purchasers and Committed Purchasers in its Purchaser Group.