Termination by Program Lender Clause Samples
Termination by Program Lender. Program Lender may terminate this Agreement:
(1) If the Guaranty Agreement is terminated by reason of a breach thereof by T▇▇▇; or
(2) If FMC materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; or
(3) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within 60 days after the filing thereof; or
(4) If the Marketing Agreement is terminated by reason of breach thereof by the Marketer.
Termination by Program Lender. Program Lender may terminate this Agreement:
(1) If the Guaranty Agreement is terminated by reason of a breach thereof by ▇▇▇▇; or
(2) If FMC materially breaches this Agreement, and fails to cure such material breach, within 30 days of written demand for cure; provided, however, that in the event termination is due to the unexcused failure of FMC or a Purchaser Trust to purchase within a Purchase Period one or more Seasoned Loans prior to the end of the Purchase Period with respect to such Loans, Program Lender may terminate this Agreement only if FMC or a Purchaser Trust fails to purchase such Loans prior to the end of the Right of First Refusal Period with respect to such Loans; or
(3) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within 60 days after the filing thereof.
(4) Notwithstanding the foregoing, if Program Lender is determined to be a "troubled" institution (as that term is defined in 12 C.F.R. §563.555), the Office of Thrift Supervision may terminate this Agreement upon reasonable notice and without penalty.
Termination by Program Lender. Program Lender may immediately terminate this Agreement:
(1) If the Guaranty Agreement or Origination Agreement is terminated, other than as a result of a breach thereof by Program Lender; or
(2) If the Servicing Agreement is terminated and the Program Lender has not secured another Servicer under terms and conditions satisfactory to the Program Lender and FMC; or
(3) If FMC materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure;
(4) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within sixty (60) days after the filing thereof; or
(5) A ▇▇▇▇ Insolvency Event occurs.
Termination by Program Lender. Program Lender may terminate this Agreement:
(1) If the Guaranty Agreement [or Loan Origination Agreement] is terminated by reason of a breach thereof by TERI; or
(2) [If the Servicing Agreement is ▇▇▇▇inated by reason of breach thereof by Servicer; or]
(3) If FMC materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; provided, however, that in the event termination is due to the unexcused failure of FMC or a Purchaser Trust to purchase within a Purchase Period (as the same may be extended pursuant to Section 2.02(d)) one or more Seasoned Loans prior to the end of the Purchase Period with respect to such Loans, Program Lender may terminate this Agreement only if FMC or a Purchaser Trust fails to purchase such Loans prior to the end of the Right of First Refusal Period with respect to such Loans; or
(4) If FMC shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, which proceeding is not dismissed within 60 days after the filing thereof.