Common use of Retention and Termination of the Servicer Clause in Contracts

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31, 1996, which term shall be extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such notice (including each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") delivered by the Certificate Insurer to the Trustee shall be promptly delivered by the Trustee to the Servicer. The Servicer hereby agrees that, upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. The Trustee agrees that if as of the fifteenth day prior to the last day of any term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate Insurer, the Trustee will, within 5 days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31September 30, 19961999 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December March 31, 19961999 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31June 30, 19961999 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31June 30, 19961998. Thereafter, which term the Initial Term shall be extendable by extendible in the sole discretion of the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Certificate Insurer (or the Trustee if revocable written standing instructions delivered from time to time to the Servicer, for any specified number of three month terms). Each such Servicer Extension Notice (if any) shall be delivered by the Certificate Insurer or the Trustee, as applicable, to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, Notice the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth last day prior to of the calendar month preceeding the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerInsurer or Trustee, as applicable, the Trustee willServicer shall, within 5 five days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Insurer and the Trustee. The failure of the Certificate Insurer or the Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31_________ (the "Initial Term"). Thereafter, 1996, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31June 30, 19961997, which term shall be extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity DateDate of the Class A-3 Certificates. Each such notice (including each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") delivered by the Certificate Insurer to the Trustee shall be promptly delivered by the Trustee to the Servicer. The Servicer hereby agrees that, upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. The Trustee agrees that if as of the fifteenth day prior to the last day of any term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate Insurer, the Trustee will, within 5 days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31September 30, 19961999 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee) to the Servicer, for any specified number of three-month terms. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer (or Indenture Trustee, as applicable), the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer; provided, that, if a Note Insurer Default has occurred and is continuing, the term of the Servicer shall automatically be extended until such time as the Note Insurer Default has been cured. The Servicer may not resign from its obligations and duties as Servicer hereunder, except (i) with the prior written consent of the Controlling Party or (ii) upon a determination that the Servicer's performance of such duties is no longer permissible under applicable law. Any such determination permitting the resignation of the Servicer shall be evidenced by an opinion of independent counsel, in form and substance reasonably satisfactory to the Note Insurer, to such effect delivered to the Indenture Trustee and the Note Insurer. No such resignation will become effective until the Back-up Servicer, or a successor thereto has assumed the Servicer's servicing obligations and duties under this Agreement in accordance with the terms hereof.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31, 19961998 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable by extendible in the sole discretion of the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Certificate Insurer (or the Trustee if revocable written standing instructions of the Certificate Insurer have been previously delivered to the Trustee), for any specified number of three month terms to the Servicer. Each such Servicer Extension Notice (if any) shall be delivered by the Certificate Insurer (or the Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, Notice the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerInsurer (or Trustee, as applicable), the Trustee willServicer shall, within 5 five days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Insurer and the Trustee. The failure of the Certificate Insurer or the Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31, 19961999 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31_______ (the "Initial Term"). Thereafter, 1996, which term the Initial Term shall be extendable by extendible in the sole discretion of the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Certificate Insurer (or the Trustee if revocable written standing instructions of the Certificate Insurer have been previously delivered to the Trustee), for any specified number of three month terms to the Servicer. Each such Servicer Extension Notice (if any) shall be delivered by the Certificate Insurer (or the Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, Notice the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerInsurer (or Trustee, as applicable), the Trustee willServicer shall, within 5 five days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Insurer and the Trustee. The failure of the Certificate Insurer or the Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31, 19961997, which term shall be extendable by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity DateDate of the Class A-6 Certificates. Each such notice (including each notice pursuant to standing instructions, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") delivered by the Certificate Insurer to the Trustee shall be promptly delivered by the Trustee to the Servicer. The Servicer hereby agrees that, upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. The Trustee agrees that if as of the fifteenth day prior to the last day of any term of the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate Insurer, the Trustee will, within 5 days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer Servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December March 31, 19962000 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable extendible in the sole discretion of the Note Insurer by the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Note Insurer (or the Indenture Trustee if revocable written standing instructions of the Note Insurer have been previously delivered to the Indenture Trustee), for any specified number of three (3) month terms to the Servicer. Each such Servicer Extension Notice, if any, shall be delivered by the Certificate Note Insurer (or the Indenture Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerNote Insurer or Indenture Trustee, as applicable, the Trustee willServicer shall, within 5 five (5) days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Note Insurer and the Indenture Trustee. The failure of the Note Insurer or the Indenture Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.

Retention and Termination of the Servicer. The Servicer hereby covenants and agrees to act as servicer under this Agreement for an initial term commencing on the Closing Date and expiring on December 31September 30, 19961998 (the "Initial Term"). Thereafter, which term the Initial Term shall be extendable by extendible in the sole discretion of the Certificate Insurer for successive terms thereafter of one calendar quarter each (ending on March 31st, June 30th, September 30th or December 31st (or, as specified in a writing delivered by the Certificate Insurer from time to time to the Servicer and the Trustee, such other term-by-term basis)), until the Class A Final Scheduled Maturity Date. Each such written notice (including each notice pursuant to standing instructionseach, which shall be deemed delivered at successive calendar quarter intervals for so long as such instructions are in effect) (a "Servicer Extension Notice") of the Certificate Insurer (or the Trustee if revocable written standing instructions of the Certificate Insurer have been previously delivered to the Trustee), for any specified number of three month terms to the Servicer. Each such Servicer Extension Notice (if any) shall be delivered by the Certificate Insurer (or the Trustee, as applicable,) to the Trustee shall be promptly delivered by the Trustee other parties to the Servicerthis Agreement. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such Servicer Extension Notice, Notice the Servicer shall become bound, be bound for the duration of the Initial Term and the term covered by any such Servicer Extension Notice, Notice to continue act as the Servicer Servicer, subject to and in accordance with the other provisions of this Agreement. The Trustee Servicer agrees that if if, as of the fifteenth day prior to the last day of any term of such servicing term, the Servicer the Trustee shall not have received a Servicer Extension Notice from the Certificate InsurerInsurer (or Trustee, as applicable), the Trustee willServicer shall, within 5 five days thereafter, give written notice of such nonreceipt non-receipt to the Certificate Insurer and the Trustee. The failure of the Certificate Insurer or the Trustee, as applicable, to deliver a Servicer Extension Notice by the end of any such three-month term shall result in the automatic termination of the Servicer.