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Common use of Termination of a Material Definitive Agreement Clause in Contracts

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of agreement that is material to the securitization (other than the following that is a expiration in accordance with its terms), even if depositor is party to the agreement if not a party. Master Servicer is not: Trustee, Sponsor, Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- Disclosure is required regarding the bankruptcy or receivership, Master Servicer if known to the Master Servicer, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- Includes an early amortization, performance trigger or other Master Servicer event, Master Servicer including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of any definitive agreement that is material to the of the following that is securitization (other than the following that is a expiration in a party to the agreement accordance with its terms), even if depositor if Master Servicer is party to the agreement if is not a party. Master Servicer is not: Trustee, Sponsor, Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- FORM ITEM DESCRIPTION RESPONSIBLE PARTY -------------- --------------- ---------------------------------------------------------- --------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Disclosure is required regarding the bankruptcy Master Servicer or receivership, Master Servicer if known to the Master Servicer, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Includes an early amortization, performance Master Servicer trigger or other Master Servicer event, Master Servicer including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master agreement that Servicer; or any of agreement that the following is material to the securitization (other than the following that is a expiration in accordance with that is a party to the agreement its terms), even if depositor is party to the agreement if not a party. Master if Servicer is not: Trustee, Sponsor, Depositor Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------- ----- -------------------------------------------------------------------------------- ------------------------------------ 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- Bankruptcy or Receivership -------- ----- -------------------------------------------------------------------------------- ------------------------------------ Disclosure is required regarding the bankruptcy or receivership, Master Servicer if known to Depositor the Master ServicerDepositor, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- counterparty -------- ----- -------------------------------------------------------------------------------- ------------------------------------ 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFFTriggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- Balance Sheet Arrangement -------- ----- -------------------------------------------------------------------------------- ------------------------------------ Includes an early amortization, performance trigger or other Master Servicer event, Master Servicer including Servicer/Trustee (to the extent of event of default, that would materially alter the payment actual knowledge) priority/distribution of cash flows/amortization schedule.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDA Mortgage Loan Trust 2007-Ar1)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of the definitive agreement that is material to the following that is a party securitization (other than the following that is a expiration in accordance with to the agreement if its terms), even if depositor is party to the agreement if not a party. Master Servicer is not: Trustee, Sponsor, Depositor Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- Bankruptcy or Receivership -------------- --------------- ---------------------------------------------------------- --------------------------- Disclosure is required regarding the bankruptcy or Depositor receivership, Master Servicer if known to the Master ServicerDepositor, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- counterparty -------------- --------------- ---------------------------------------------------------- --------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFFTriggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- Balance Sheet Arrangement -------------- --------------- ---------------------------------------------------------- --------------------------- Includes an early amortization, performance trigger or Servicer/Trustee (to the other Master Servicer event, Master Servicer including event of default, that would extent of actual materially alter the payment priority/distribution of knowledge) cash flows/amortization schedule.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2007-Ar19)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master agreement that Servicer; or any of agreement that the following is material to the securitization (other than the following that is a expiration in accordance with that is a party to the agreement its terms), even if depositor is party to the agreement if not a party. Master if Servicer is not: Trustee, Sponsor, Depositor Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- ------- ----- -------------------------------------------------------------------------------- ----------------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- Bankruptcy or Receivership ------- ----- -------------------------------------------------------------------------------- ----------------------------------- Disclosure is required regarding the bankruptcy or receivership, Master Servicer if known to Depositor the Master ServicerDepositor, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- counterparty ------- ----- -------------------------------------------------------------------------------- ----------------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFFTriggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- Balance Sheet Arrangement ------- ----- -------------------------------------------------------------------------------- ----------------------------------- Includes an early amortization, performance trigger or other Master Servicer event, Master Servicer including Servicer/Trustee (to the extent of event of default, that would materially alter the payment actual knowledge) priority/distribution of cash flows/amortization schedule.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A8)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of definitive agreement that is material to the of the following that is securitization (other than the following that is a expiration in accordance with a party to the agreement its terms), even if depositor is party to the agreement if not a party. if Master Servicer is not: Trustee, Sponsor, Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Disclosure is required regarding the bankruptcy or Master Servicer receivership, Master Servicer if known to the Master Servicer, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Includes an early amortization, performance trigger or other Master Servicer other event, Master Servicer including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

Appears in 1 contract

Samples: Indenture (Financial Asset Securities Corp)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of the definitive agreement that is material to the following that is a party securitization (other than the following that is a expiration in accordance with to the agreement if its terms), even if depositor is party to the agreement if not a party. Master Servicer is not: Trustee, Sponsor, Depositor Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- ------------------------------------------------------------------------------------------------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- Bankruptcy or Receivership ------------------------------------------------------------------------------------ Disclosure is required regarding the bankruptcy Depositor or receivership, Master Servicer if known to the Master ServicerDepositor, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- counterparty ------------------------------------------------------------------------------------------------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFFTriggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- Balance Sheet Arrangement ------------------------------------------------------------------------------------ Includes an early amortization, performance Servicer/Trustee trigger or other Master Servicer event, Master Servicer including event (to the extent of of default, that would materially alter the actual knowledge) payment priority/distribution of cash flows/amortization schedule.. Disclosure will be made of events other than waterfall triggers which are disclosed in the 4.03 statement ------------------------------------------------------------------------------------------------------------------- 3.03 Material Modification to Rights of Security Holders ------------------------------------------------------------------------------------ Disclosure is required of any material modification to Trustee documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement ------------------------------------------------------------------------------------------------------------------- 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A1)

Termination of a Material Definitive Agreement. Disclosure is required regarding termination of any definitive Master Servicer; or any of the definitive agreement that is material to the following that is a party securitization (other than the following that is a expiration in accordance with to the agreement if its terms), even if depositor is party to the agreement if not a party. Master Servicer is not: Trustee, Sponsor, Depositor Examples: servicing agreement, custodial agreement. Depositor, Certificate Administrator ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- 1.03 BANKRUPTCY OR RECEIVERSHIP ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Disclosure is required regarding the bankruptcy Servicer or receivership, Master Servicer if known to the Master Servicer, with respect to any of the following: Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian ---------------- ------------------ ------------------------------------------------------------------ ----------------------------- counterparty -------------- --------------- ---------------------------------------------------------- --------------------------- 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT ------------------------------------------------------------------ ----------------------------- -------------- --------------- ---------------------------------------------------------- --------------------------- Includes an early amortization, performance Servicer trigger or other Master Servicer event, Master Servicer including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2006-L1)