Termination by the Custodian. The Custodian may terminate its obligations under this Agreement upon at least 45 days' prior written notice to Norwest Bank and the MRFC. In the event of such termination and with the prior written consent of MRFC, Norwest Bank shall appoint a successor Custodian. MRFC shall cause the Master Servicer or any successor to Boston Safe as the Master Servicer pursuant to the Pooling Agreement to pay such successor Custodian's fees and expenses. If notice of termination is given by the Custodian, Norwest Bank shall, within 30 days following the giving of such notice, deliver to the Custodian proper instructions in writing specifying the names of the persons to whom the Custodian shall deliver the Additional Pledged Collateral held by it. The Custodian will deliver promptly the Additional Pledged Collateral to the persons so specified, after deducting therefrom any amounts which the Custodian is owed for services or reimbursement of expenses hereunder. If within 30 days following the giving of a notice of termination by the Custodian, the Custodian does not receive from Norwest Bank proper instructions in writing specifying the names of the persons to whom the Custodian shall deliver the assets of Norwest Bank held by it, the Custodian, at its election, may seek court action with respect to the appointment of a successor custodian.
Termination by the Custodian. The Custodian may terminate its obligations hereunder upon 60 days’ prior written notice to the Buyer and each Seller. Such resignation shall take effect upon (i) the appointment of a successor Custodian acceptable to the Buyer within such 60 day period; and (ii) delivery of all Mortgage Files to the successor Custodian or, if no successor Custodian has been appointed, to Buyer. Upon such termination and appointment of a successor Custodian and surrender of all outstanding Trust Receipts, the Custodian shall (i) promptly transfer to the successor Custodian, as directed in writing by the Buyer, all Mortgage Files being administered under this Agreement, and (ii) if the endorsements on the Mortgage Notes and the Assignments of Mortgage have been completed in the name of the Custodian, assign the Mortgages and endorse without recourse the Mortgage Notes to the successor Custodian or as otherwise directed in writing by the Buyer.
Termination by the Custodian. The Custodian may, following 30 days written notice to the Seller/Servicer and to Xxxxxxx Mac terminate this Agreement. In such event, the Seller/Servicer must transfer the Notes and the Assignments to a new custodian or transfer the Notes to DCS and obtain the Assignments from the Custodian as provided in the Guide. In no event may the Custodian refuse or fail to fulfill its custodial obligations until the Notes and Assignments have been properly transferred.
