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 Xxxxx'x and FITCH IBCA. 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, 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 Xxxxx'x and FITCH IBCAFitch. 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. (a) On the date specified in a written notice of termination given to the Fiscal Agent pursuant to Section 8.077.6(c), 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 Xxxxx'x and FITCH IBCAagent. 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 Xxxxx'x Moody's and FITCH IBCA. The Fiscal Agent agrees to cooperate with the Trustee xxx Xxustee 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 Xxxxx'x Standard and FITCH IBCAPoor's and Fitch. 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.