Common use of Remedies of Servicer Clause in Contracts

Remedies of Servicer. (a) If an Event of Default as described in Section 5.02 shall have occurred and be then continuing, Servicer may exercise any right or remedy available to it under this Servicing Agreement or under applicable law, including termination of Servicer's appointment under this Servicing Agreement (but not termination of this Servicing Agreement itself) by giving sixty (60) days prior written notice of such termination to Client and Agent. Such termination of the appointment of Servicer shall be without prejudice to any claims of Servicer or UDC resulting from an Event of Default by Client, provided, however, that Servicer and UDC agree and acknowledge that so long as Agent does not own any of the Receivables, Agent shall have no liability to Servicer or UDC pursuant to this Servicing Agreement other than resulting (i) from a breach of representation or warranty of Agent hereunder or (ii) instructions given by the Agent as the Interested Party. If an Event of Default occurs as described in Section 5.02(c) through (e) above as to RAC, Servicer's appointment under this Servicing Agreement may be terminated effective immediately by Servicer and UDC upon written notice to the Agent and Client. (b) Notwithstanding any termination of Servicer pursuant to this Section 5.04, Servicer agrees to cooperate with Client and Agent during such sixty (60) day period with respect to the transition of all or part the duties and obligations of Servicer hereunder to another party as set forth in Section 6.04 to this Servicing Agreement; provided that such transition shall be at Client's expense, and the Servicer shall be entitled to compensation for the services of Management Employees at a rate of $200 per hour for services related to the transition.

Remedies of Servicer. (a) If an Event of Default as described in Section 5.02 shall have ------------ occurred and be then continuing, Servicer may exercise any right or remedy available to it under this Servicing Agreement or under applicable law, including termination of Servicer's appointment under this Servicing Agreement (but not termination of this Servicing Agreement itself) by giving sixty (60) days prior written notice of such termination to Client and Agent. Such termination of the appointment of Servicer shall be without prejudice to any claims of Servicer or UDC resulting from an Event of Default by Client, provided, however, that Servicer and UDC agree and acknowledge that so long as Agent does not own any of the Receivables, Agent shall have no liability to Servicer or UDC pursuant to this Servicing Agreement other than resulting (i) from a breach of representation or warranty of Agent hereunder or of (ii) instructions given by the Agent as the Interested Party. If an Event of Default occurs as described in Section 5.02(c) through (e) above as to RAC, Servicer's Servicers --------------------------- appointment under this Servicing Agreement may be terminated effective immediately by Servicer and UDC upon written notice to the Agent and Client. (b) Notwithstanding any termination of Servicer pursuant to this Section 5.04, Servicer agrees to cooperate with Client and Agent during such ------------ sixty (60) day period with respect to the transition of all or part the duties and obligations of Servicer hereunder to another party as set forth in Section 6.04 to this Servicing Agreement; provided ------------ that such transition shall be at Client's expense, and the Servicer shall be entitled to compensation for the services of Management Employees at a rate of $200 per hour for services related to the transition.