Common use of Scheduled Pooling and Servicing Agreements Clause in Contracts

Scheduled Pooling and Servicing Agreements. All of the Scheduled Pooling and Servicing Agreements are in full force and effect and the Seller as Servicer thereunder has not been terminated. Other than each Certificate Insurer's right to terminate the applicable Scheduled Pooling and Servicing Agreements based on Seller's failure to achieve certain delinquency and/or loss targets, no event has occurred that would give any party to any Scheduled Pooling and Servicing Agreement the right (including with notice or lapse of time or both) to terminate the Seller for cause as the Servicer or Sub-Servicer under any Scheduled Pooling and Servicing Agreement, and the Seller does not have actual knowledge of any pending or threatened action to terminate the Seller as Servicer or Sub-Servicer under any of the Scheduled Pooling and Servicing Agreements.