Term of Agreement; Resignation and Removal of Administrator. (a) This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically terminate. (b) Subject to Sections 8(e) and 8(f), the Administrator may resign its duties hereunder by providing the Issuer with at least sixty (60) days' prior written notice. (c) Subject to Sections 8(e) and 8(f), the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days' prior written notice. (d) Subject to Sections 8(e) and 8(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the Administrator if any of the following events shall occur: (i) the Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such default, shall not cure such default within ten (10) days (or, it such default cannot be cured in such time, shall not give within ten (10) days such assurance of cure as shall be reasonably satisfactory to the Issuer);
Appears in 3 contracts
Samples: Administration Agreement (Mmca Auto Receivables Inc), Administration Agreement (Mmca Auto Receivables Inc), Administration Agreement (Mmca Auto Receivables Inc)
Term of Agreement; Resignation and Removal of Administrator. (a) This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically terminate.
(b) Subject to Sections 8(e9(e) and 8(f(f), the Administrator may resign its duties hereunder by providing the Issuer with at least sixty (60) 60 days' β prior written notice.
(c) Subject to Sections 8(e9(e) and 8(f(f), the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) 60 days' β prior written notice.
(d) Subject to Sections 8(e9(e) and 8(f(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the Administrator if any of the following events shall occur: :
(i) the Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such default, shall not cure such default within ten (10) days Business Days (or, it if such default cannot be cured in such time, shall not give within ten (10) days such assurance of cure as shall be reasonably satisfactory to the Issuer);
Appears in 2 contracts
Samples: Owner Trust Administration Agreement (Hyundai Auto Receivables Trust 2024-C), Owner Trust Administration Agreement (Hyundai Auto Receivables Trust 2024-C)
Term of Agreement; Resignation and Removal of Administrator. (a) This Agreement shall continue in force until the dissolution termination of the Issuer, upon which event this Agreement shall automatically terminate.
(b) Subject to Sections Section 8(e) and 8(f(f), the Administrator may resign its duties hereunder by providing the Issuer with at least sixty (60) days' days prior written notice.
(c) Subject to Sections Section 8(e) and 8(f(f), the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days' days prior written notice.
(d) Subject to Sections Section 8(e) and 8(f(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the Administrator if any of the following events shall occur: :
(i) the Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such default, shall not cure such default within ten thirty (1030) days (or, it if such default cannot be cured in such time, shall not give within ten thirty (1030) days such assurance of cure as shall be reasonably satisfactory to the Issuer);
(ii) a court having jurisdiction in the premises shall enter a decree or order for relief, and such decree or order shall not have been vacated within sixty (60) days, in respect of the
Appears in 1 contract
Samples: Administration Agreement (Advanta Business Recievables Corp)