Common use of Removal of Asset Representations Reviewer Clause in Contracts

Removal of Asset Representations Reviewer. (a) If any one of the following events (each a “Disqualification Event”) shall occur and be continuing: (i) the Asset Representations Reviewer ceases to be an Eligible Asset Representations Reviewer; (ii) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or (iii) an Insolvency Event occurs; then, the Servicer may or, in the case of Section 6.01(a)(i), shall remove the Asset Representations Reviewer by delivery of a written instrument to that effect. (b) The Servicer may also remove the Asset Representations Reviewer by delivery of a written instrument to that effect on or after the fifth anniversary of the Engagement Date, upon sixty (60) days’ written notice (or such shorter notice period as the parties to this Agreement may agree) from the Servicer to the Asset Representations Reviewer, WFBNA, the Transferor, and the Indenture Trustee. (c) Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is appointed in accordance with Section 6.02. Any expenses incurred by the Servicer in connection with replacing the Asset Representations Reviewer following any Disqualification Event shall be reimbursed by the removed Asset Representations Reviewer promptly upon delivery by the Servicer of a detailed invoice.

Removal of Asset Representations Reviewer. (a) If any one of the following events (each a “Disqualification Event”) shall occur and be continuing: (i) the Asset Representations Reviewer ceases to be an Eligible Asset Representations Reviewer; (ii) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or (iii) an Insolvency Event occurs; then, the Servicer may or, in the case of Section 6.01(a)(i), shall remove the Asset Representations Reviewer by delivery of a written instrument to that effect. (b) The Servicer may also remove the Asset Representations Reviewer by delivery of a written instrument to that effect on or after the fifth anniversary of the Engagement Date, upon sixty (60) days’ written notice (or such shorter notice period as the parties to this Agreement may agree) from the Servicer to the Asset Representations Reviewer, WFBNABANA, the Transferor, and the Indenture MTII Trustee. (c) Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is appointed in accordance with Section 6.02. Any expenses incurred by the Servicer in connection with replacing the Asset Representations Reviewer following any Disqualification Event shall be reimbursed by the removed Asset Representations Reviewer promptly upon delivery by the Servicer of a detailed invoice.

Removal of Asset Representations Reviewer. (a) If any one of the following events (each a “Disqualification Event”) shall occur and be continuing: (i) the Asset Representations Reviewer ceases to be an Eligible Asset Representations Reviewer; (ii) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or (iii) an Insolvency Event occurs; then, the Servicer may or, in the case of Section 6.01(a)(i6.1(a)(i), shall remove the Asset Representations Reviewer by delivery of a written instrument to that effect. (b) The Servicer may also remove the Asset Representations Reviewer by delivery of a written instrument to that effect on or after the fifth anniversary of the Engagement Date, upon sixty (60) days’ written notice (or such shorter notice period as the parties to this Agreement may agree) from the Servicer to the Asset Representations Reviewer, WFBNARBC, the Transferor, Depositor and the Indenture Issuer Trustee. (c) Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is appointed in accordance with Section 6.026.2. Any expenses incurred by the Servicer in connection with replacing the Asset Representations Reviewer following any Disqualification Event shall be reimbursed by the removed Asset Representations Reviewer promptly upon delivery by the Servicer of a detailed invoice.