Common use of Servicer Resignation Clause in Contracts

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company.......................................................77 Section 6.08. The Company and Servicer May Own Certificates............................77 Section 6.09. Protection of Trust Estate...............................................77 Section 6.10. Performance of Obligations...............................................78 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS.................................79 Section 7.01. Events of Default........................................................79 Section 7.02. Trustee to Act; Appointment of Successor.................................80 Section 7.03. Notifications to Servicer and to Certificateholders......................82 (ii)

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company.........................................................................................................................77 Section 6.08. The Company and Servicer May Own Certificates.....................................................................77 Section 6.09. Protection of Trust Estate...........................................................................................................77 Section 6.10. Performance of Obligations...........................................................................................................78 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS..................................................................................79 Section 7.01. Events of Default.............................................................................................................................79 Section 7.02. Trustee to Act; Appointment of Successor...............................................................................80 Section 7.03. Notifications to Servicer and to Certificateholders.........................................................82 (ii)

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company...................................................................................................................................77 Section 6.08. The Company and Servicer May Own Certificates........................................................................77 Section 6.09. Protection of Trust Estate..............................................................................................................77 Section 6.10. Performance of Obligations..............................................................................................................78 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS..................................................................................79 Section 7.01. Events of Default................................................................................................................................79 Section 7.02. Trustee to Act; Appointment of Successor..................................................................................80 Section 7.03. Notifications to Servicer and to Certificateholders............................................................82 (ii)

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company..................................................................................................................................77 Section 6.08. The Company and Servicer May Own Certificates............................77 .........................................78 Section 6.09. Protection of Trust Estate...............................................77 ............................................................78 Section 6.10. Performance of Obligations...............................................78 ............................................................79 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS..................................................................................79 Section 7.01. Events of Default.............................................................................................................................79 Section 7.02. Trustee to Act; Appointment of Successor.................................80 ..............................................81 Section 7.03. Notifications to Servicer and to Certificateholders.........................................................82 (ii)ARTICLE VIII

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company......................................................................................................................... 77 Section 6.08. The Company and Servicer May Own Certificates..................................................................... 77 Section 6.09. Protection of Trust Estate........................................................................................................... 77 Section 6.10. Performance of Obligations........................................................................................................... 78 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS.................................................................................. 79 Section 7.01. Events of Default............................................................................................................................. 79 Section 7.02. Trustee to Act; Appointment of Successor............................................................................... 80 Section 7.03. Notifications to Servicer and to Certificateholders......................................................... 82 (ii)) 4

Servicer Resignation. 77 69 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company.......................................................77 OMI................ 69 Section 6.08. The Company OMI and Servicer May Own Certificates............................77 ..................................... 69 Section 6.09. Protection of Trust Estate...............................................77 ................................................ 69 Section 6.10. Performance of Obligations...............................................78 ................................................ 70 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS.................................79 Section 7.01. Events of Default........................................................79 Section 7.02. Trustee to Act; Appointment of Successor.................................80 Section 7.03. Notifications to Servicer and to Certificateholders......................82 (ii)

Servicer Resignation. 77 Section 6.07. Assignment or Delegation of Duties by the Servicer and the Company................................................................................................................77 Section 6.08. The Company and Servicer May Own Certificates.........................................................77 Section 6.09. Protection of Trust Estate...............................................................................................77 Section 6.10. Performance of Obligations...............................................................................................78 ARTICLE VII EVENT OF DEFAULT; TERMINATION OF SERVICING ARRANGEMENTS...................................................................79 Section 7.01. Events of Default.................................................................................................................79 Section 7.02. Trustee to Act; Appointment of Successor...................................................................80 Section 7.03. Notifications to Servicer and to Certificateholders.............................................82 (ii)