Termination for Event of Default. (a) By giving Oversight Servicer written notice and designating the termination date, which may be immediately on the date of such written notice, Owner may terminate this Agreement for an Event of Default by Oversight Servicer. (b) Termination by Owner in connection with an Event of Default will be without prejudice to and with full reservation of any other rights and remedies available to Owner under this Agreement or at law or in equity. (c) No termination fees will be payable in connection with any termination by Owner for an Event of Default by Oversight Servicer.
Appears in 4 contracts
Samples: Commercial Mortgage Servicing Oversight Agreement (Pennymac Financial Services, Inc.), Commercial Mortgage Servicing Oversight Agreement (PennyMac Mortgage Investment Trust), Commercial Mortgage Servicing Oversight Agreement (Pennymac Financial Services, Inc.)
