Common use of Termination by Custodian Clause in Contracts

Termination by Custodian. The Custodian may terminate its obligations under this Agreement upon at least sixty (60) days' notice to the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered Holder. The Custodian shall then be responsible for all costs associated with such termination, including costs associated with the transfer of the Custodial Files. If, in the event of such termination, the Registered Holder shall appoint a successor Custodian within such sixty day period, then upon such appointment and tender of the related Custody Receipts, the Custodian shall promptly transfer to such successor Custodian, as directed by the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered Holder, all of the Custodian's Mortgage Files being administered under this Agreement and shall either complete the Assignments and endorse the Mortgage Notes as directed by the Registered Holder or allow the Registered Holder or its agents or attorneys, access to the Custodian's Mortgage Files for such purpose. Notwithstanding the foregoing, if the Registered Holder fails to appoint a Custodian within such sixty day period, the Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Termination by Custodian. The Custodian may terminate its obligations under this Agreement upon at least sixty (60) 60 days' notice to the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered HolderPurchaser. The Custodian shall then be responsible for all costs associated with such termination, including costs associated with the transfer of the Custodial Files. If, in In the event of such termination, the Registered Holder Purchaser shall appoint a successor Custodian within Custodian. The payment of such sixty day period, then upon such appointment successor Custodian's fees and tender expenses shall be solely the responsibility of the related Custody ReceiptsSecurities Administrator. Upon such appointment, the Custodian shall (i) promptly notify the Purchaser and (ii) promptly transfer to such the successor Custodian, as directed by the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered Holderdirected, all of the Custodian's Mortgage Custodial Files being administered under this Agreement Agreement, and shall either complete assign the Assignments Mortgages and endorse the Mortgage Notes as directed to the successor Custodian. In the event of termination by the Registered Holder or allow Custodian, then such transfer shall be at the Registered Holder or expense of the Custodian; provided, however, in the event that the Custodian terminates its agents or attorneys, access obligations hereunder due in part to nonpayment of the Custodian's Mortgage Files for fees pursuant to Section 10, then such purposetransfer shall be at the expense of the Purchaser. Notwithstanding In the foregoing, if event that no successor Custodian shall have been appointed and shall have accepted such appointment before the Registered Holder fails to appoint a Custodian within expiration of such sixty 60 day notice period, the terminating Custodian may petition any court of competent jurisdiction for the appointment of to appoint a successor Custodianand promptly notify the Purchaser of such petition.

Termination by Custodian. The Custodian may terminate its obligations under this Agreement upon at least sixty (60) 60 days' ’ notice to the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered HolderPurchaser. The Custodian shall then be responsible for all costs associated with such termination, including costs associated with the transfer of the Custodial Files. If, in In the event of such termination, the Registered Holder Purchaser shall appoint a successor Custodian within Custodian. The payment of such sixty day period, then upon such appointment successor Custodian’s fees and tender expenses shall be solely the responsibility of the related Custody ReceiptsSecurities Administrator. Upon such appointment, the Custodian shall (i) promptly notify the Purchaser and (ii) promptly transfer to such the successor Custodian, as directed by the Registered Holder with respect to all or a portion of the Mortgage Loans owned by such Registered Holderdirected, all of the Custodian's Mortgage Custodial Files being administered under this Agreement Agreement, and shall either complete assign the Assignments Mortgages and endorse the Mortgage Notes as directed to the successor Custodian. In the event of termination by the Registered Holder or allow Custodian, then such transfer shall be at the Registered Holder or its agents or attorneys, access to expense of the Custodian's Mortgage Files for ; provided, however, in the event that the Custodian terminates its obligations hereunder due in part to nonpayment of the Custodian’s fees pursuant to Section 10, then such purposetransfer shall be at the expense of the Purchaser. Notwithstanding In the foregoing, if event that no successor Custodian shall have been appointed and shall have accepted such appointment before the Registered Holder fails to appoint a Custodian within expiration of such sixty 60 day notice period, the terminating Custodian may petition any court of competent jurisdiction for the appointment of to appoint a successor Custodianand promptly notify the Purchaser of such petition.

Termination by Custodian. The Custodian may terminate its obligations under this Agreement upon at least sixty (60) 90 days' ’ notice to the Registered Holder with respect to all or a portion of Trustee, the Mortgage Loans owned by such Registered HolderRequired Persons, the Servicer and the Issuer. The Custodian shall then be responsible for all costs associated with such termination, including costs associated with the transfer of the Custodial Files. If, in In the event of such termination, the Registered Holder Issuer shall appoint a successor Custodian within acceptable to the Required Persons; provided that: (i) no such sixty day period, then upon such appointment and tender resignation of the related Custody Receipts, Custodian will become effective until the Custodian shall promptly transfer to such acceptance of appointment by a successor Custodian, as directed by and (ii) if no successor or replacement Custodian has been appointed and accepted such appointment in accordance with the Registered Holder with respect to all or a portion terms of this Agreement within 90 days of the Mortgage Loans owned by such Registered Holder, all written notice of resignation from the Custodian's Mortgage Files being administered under this Agreement and shall either complete the Assignments and endorse the Mortgage Notes as directed by the Registered Holder or allow the Registered Holder or its agents or attorneys, access to the Custodian's Mortgage Files for such purpose. Notwithstanding the foregoing, if the Registered Holder fails to appoint a Custodian within such sixty day period, the Custodian may petition any a court of competent jurisdiction for the appointment of a an appropriately qualified successor. The payment of such successor Custodian’s ongoing fees and expenses with respect to each Receivable shall be solely the responsibility of the Issuer; provided, however, that if the Custodian terminates its obligations pursuant to this Section 19 within 365 days from the date hereof, any initial set up or certification costs of such successor Custodian shall be the responsibility of the Custodian. Upon such appointment, the Custodian shall promptly transfer to the successor Custodian, as directed, all Files being administered under this Agreement.