Removal of Servicer. The Certificate Insurer or the Holders of Certificates representing a Majority in Aggregate Voting Interest may, with the prior written consent of the Certificate Insurer, remove the Servicer upon the occurrence of and continuation of a Servicer Default upon 90 days' prior written notice to the Servicer. No such removal shall become effective until a successor (other than the Trustee, unless the Trustee agrees to so act) has assumed the Servicer's responsibilities and obligations hereunder in accordance with SECTION 9.02. The Servicer shall promptly notify each Rating Agency of such removal.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-3), Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-1)
Removal of Servicer. The Certificate Insurer or the Holders of Certificates representing a Majority in Aggregate Voting Interest may, with the prior written consent of the Certificate Insurer, remove the Servicer upon the occurrence of and continuation of a Servicer Default upon 90 days' prior written notice to the Servicer. No such removal shall become effective until a successor (other than the Trustee, unless the Trustee agrees to so act) has assumed the Servicer's responsibilities and obligations hereunder in accordance with SECTION Section 9.02. The Servicer shall promptly notify each Rating Agency of such removal.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (Eqcc Receivables Corp)
