Common use of TERMINABILITY Clause in Contracts

TERMINABILITY. (a) This Agreement shall terminate upon the earlier of (i) the Final Repurchase Date or (ii) written notice from Seller to Buyer to such effect pursuant to Section 14 hereof, except that this Agreement shall, notwithstanding the above clauses, remain applicable to any Transaction then outstanding. (b) Buyer may, in its sole and absolute discretion, terminate this Agreement if, within 30 days after notice from Buyer to Guarantor stating that Buyer does not agree with the valuation (and the assumptions used to derive such valuation) of residual certificates, interest-only certificates and other comparable instruments with respect to securitizations of mortgage loans included in the calculation of Tangible Net Worth as certified in the certificate delivered to Buyer pursuant to Section 12(j)(vi), Buyer and Guarantor do not agree on such valuation. Upon any such termination, the Repurchase Price of all Transactions shall become immediately due and payable. (c) Notwithstanding any termination of this Agreement or the occurrence of an Event of Default, all of the representations and warranties hereunder (including those made in Exhibit V) shall continue and survive.

TERMINABILITY. (a) This Agreement shall terminate upon the earlier of (i) the Final Repurchase Date or (ii) written notice from Seller to Buyer to such effect pursuant to Section 14 hereof, except that this Agreement shall, notwithstanding the above clauses, remain applicable to any Transaction then outstanding. (b) Buyer may, in its sole and absolute discretion, terminate this Agreement if, within 30 days after notice from Buyer to Guarantor Seller stating that Buyer does not agree with the valuation (and the assumptions used to derive such valuation) of residual certificates, interest-only certificates and other comparable instruments with respect to securitizations of mortgage loans included in the calculation of Tangible Net Worth as certified in the certificate delivered to Buyer pursuant to Section 12(j)(vi12(j)(viii), Buyer and Guarantor Seller do not agree on such valuation. Upon any such termination, the Repurchase Price of all Transactions shall become immediately due and payable. (c) Notwithstanding any termination of this Agreement or the occurrence of an Event of Default, all of the representations and warranties hereunder (including those made in Exhibit V) shall continue and survive.