Common use of PROCEDURE UPON TERMINATION EVENT Clause in Contracts

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and Fitch; provided, that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor Fiscal Agent is rated at least "AA" by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans, Serviced Companion Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and FitchXxxxx'x; provided, that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor Fiscal Agent is rated at least "AA" by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and FitchMoody's; provided, provided that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor Fiscal Agent is rated at least "AA" AA by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans, Serviced Companion Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and FitchMoody's; provided, that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor Fiscal Agent is rated at least "AA" by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans, Xxxxxxxx Fashion Center Companion Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and FitchMoody's; provided, that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor 251 Fiscal Agent is rated at least "AA" by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

PROCEDURE UPON TERMINATION EVENT. On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.07, all authority, power and rights of the Fiscal Agent under this Agreement, whether with respect to the Mortgage Loans or otherwise, shall terminate and a successor Fiscal Agent shall be appointed by the Trustee, with the consent of the Depositor; provided that in no event shall the termination of the Fiscal Agent be effective until Rating Agency Confirmation shall have been obtained with respect to a successor fiscal agent from each of Standard & Poor's and FitchXxxxx'x; provided, provided that no such Rating Agency Confirmation shall be required from Standard & Poor's if the successor Fiscal Agent is rated at least "AA" AA by Standard & Poor's. The Fiscal Agent agrees to cooperate with the Trustee in effecting the termination of the Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.