Common use of Notice of Intent to Disqualify or Suspend Clause in Contracts

Notice of Intent to Disqualify or Suspend. ‌ Neither the MPF Bank nor the MPF Provider will provide the PFI or Servicer with prior notice of intent to disqualify or suspend if it deems that the MPF Bank’s or MPF Provider’s interests, as applicable, would be at risk by such a notice. In such cases, disqualification or suspension will become effective upon oral notice from the MPF Bank or the MPF Provider, as applicable, followed by a written confirmation of that oral notice. When prior notice of intent is deemed not to adversely affect the MPF Bank’s or MPF Provider’s interests, thirty (30) days’ prior written notice will be given. The written notice of intent, both for prior notice and for confirmation of oral notice, shall include a brief statement of the reason for the MPF Bank’s or MPF Provider’s actions.