Common use of Reference Pool Servicer Termination Event Clause in Contracts

Reference Pool Servicer Termination Event. If the Issuer has knowledge of a Reference Pool Servicer Termination Event for the 20 - Reference Pool, the Issuer will notify the Indenture Trustee and the Rating Agencies of the event and any action the Issuer is taking to correct the situation. If a Reference Pool Servicer Termination Event results from the failure of the Servicer to perform its obligations under the Servicing Supplement and the Servicing Agreement, the Issuer will take reasonable steps available to cause the Servicer to correct the failure.

Reference Pool Servicer Termination Event. If the Issuer has knowledge of a Reference Pool Servicer Termination Event for the 20 - 2016-A Reference Pool, the Issuer will notify the Indenture Trustee and the Rating Agencies of the event and any action the Issuer is taking to correct the situation. If a Reference Pool Servicer Termination Event results from the failure of the Servicer to perform its obligations under the Servicing Supplement and the Servicing Agreement, the Issuer will take reasonable steps available to cause the Servicer to correct the failure.