Common use of Notification of Termination Event Clause in Contracts

Notification of Termination Event. The Administrator shall notify the Mortgages Trustee, the Security Trustee and the Beneficiaries as soon as reasonably practicable but in any event within five (5) days of becoming aware of any Termination Event or any event which with the giving of notice or lapse of time or certification would constitute the same. Such notification shall specify which event in Clause 19 occurred and was the cause of such Termination Event (or any event which with the giving of notice or lapse of time or certification would constitute a Termination Event), a description of the details of such Termination Event, and a reference to the provision in this Agreement or the other Transaction Documents which the Administrator has breached.

Notification of Termination Event. The Administrator shall notify the Mortgages Trustee, the each Funding Security Trustee and the Beneficiaries each Beneficiary as soon as reasonably practicable but in any event within five (5) days of becoming aware of any Termination Event or any event which with the giving of notice or lapse of time or certification would constitute the same. Such notification shall specify which event in Clause 19 (Termination) occurred and was the cause of such Termination Event (or any event which with the giving of notice or lapse of time or certification would constitute a Termination Event), a description of the details of such Termination Event, and a reference to the provision in this Agreement or the other Transaction Documents which the Administrator has breached.