Servicer Transfer. (a) If a Servicer Default has occurred and is continuing, (x) the Required Holders, or (y) the Indenture Trustee may, by written notice (a "Termination Notice") delivered to the parties hereto, terminate all (but not less than all) of the Servicer's management, administrative, servicing, custodial and collection functions.
Servicer Transfer. (a) If a Servicer Default has occurred and is continuing, the Majority Noteholders may, by written notice (a “Termination Notice”) delivered to the parties hereto and each of the Hedge Counterparties, terminate all (but not less than all) of the Servicer’s management, administrative, servicing, custodial and collection functions; provided, however, no Termination Notice shall be required with respect to any Servicer Default described under Section 8.01(c), Section 8.01(d) and Section 8.01(e).
Servicer Transfer. (a) If a Servicer Default has occurred and is continuing, the Trustee or the Issuer may terminate all of the rights and obligations of the Servicer hereunder by notice to the Servicer (a “Termination Notice”), whereupon the Backup Servicer will succeed to all of the Servicer’s management, administrative, servicing, custodial and collection functions as Servicer hereunder within thirty (30) days of receiving a Termination Notice.
Servicer Transfer. In the event that a transfer of servicing occurs under Article X of the Pooling and Servicing Agreement, from and after the effective date of such transfer, the Successor Servicer appointed pursuant to the Pooling and Servicing Agreement, and not Spirit, Inc., shall be responsible for the performance of all servicing functions to be performed by the Servicer from and after such date, except as provided in the Pooling and Servicing Agreement. Such transfer shall not affect any rights or obligations of Spirit, Inc. which arose prior to the effective date of the transfer of servicing or the rights or obligations of Spirit, Inc. under Sections 2.2, Section 2.7 and Article V (in the case of Sections 5.2 or 5.3 under Article V, excluding any documents received by any Successor Servicer and also excluding any documents received by Spirit, Inc. from the Successor Servicer), or Section 7.3 of this Agreement, whether arising before or after such date.
Servicer Transfer. 88 Section 8.03 Appointment of Successor Servicer; Reconveyance; Successor Servicer to Act............................................................................. 89 Section 8.04 Notification to Securityholders and Swap Counterparties......................... 91 Section 8.05 Effect of Transfer.............................................................. 91 Section 8.06 Database File................................................................... 91 Section 8.07 Waiver of Defaults.............................................................. 91 Section 8.08 Responsibilities of the Successor Servicer...................................... 92 Section 8.09 Rating Agency Condition for Servicer Transfer................................... 92 Section 8.10 Appointment of Successor Backup Servicer; Successor Backup Servicer to Act...... 92
Servicer Transfer. 55 Section 8.03. Appointment of Successor Servicer; Reconveyance; Successor Servicer to Act ........56 Section 8.04. Notification to Securityholders.................57 Section 8.05. Effect of Transfer..............................57 Section 8.06. Database File...................................57 Section 8.07. Successor Servicer Indemnification..............57 Section 8.08. Responsibilities of the Successor Servicer......57 Section 8.09. Rating Agency Condition For Servicer Transfer...58 ARTICLE NINE
Servicer Transfer. 91 Section 8.03 Appointment of Successor Servicer; Reconveyance; Successor Servicer to Act........................... 92 Section 8.04 Notification to Securityholders and Hedge Counterparties...................................... 93
Servicer Transfer. 30 SECTION 8.3
Servicer Transfer. Section 8.03 Appointment of Successor Servicer; Reconveyance; Successor Servicer to Act.
Servicer Transfer. (a) If a Servicer Termination Event has occurred and is continuing, the Agent or any Borrower may, or upon direction from the Majority Lenders shall, terminate all of the rights and obligations of the Servicer hereunder by notice to the Servicer (a “Termination Notice”), whereupon the Back-Up Servicer shall succeed to all of the Servicer’s management, administrative, servicing, custodial and collection functions as Servicer hereunder (except to the extent otherwise set forth herein) within 90 days of receiving a Termination Notice. Following the Back-Up Servicer’s succession as Servicer, the Back-Up Servicer will become the Successor Servicer (the “Assumption Date”). For the avoidance of doubt, the Servicer shall be obligated to continue to perform all of the obligations of the Servicer under the Transaction Documents until the Assumption Date.
