Common use of Termination of Appointment of Servicer Without Cause Clause in Contracts

Termination of Appointment of Servicer Without Cause. (a) The Interested Party may terminate the Servicer upon sixty (60) days written notice to Servicer upon the occurrence of a Performance Event. Upon such termination, Servicer shall be entitled to receive (i) the accrued and unpaid servicer fee pursuant to Section 2.07(a)(i), the accrued and unpaid costs and expenses pursuant to Section 2.10(b), plus (iii) the Deboarding Charge from Client, but shall not have any other claim resulting from such termination. (b) Notwithstanding the lack of an Event of Default by Client pursuant to this Servicing Agreement, Servicer may, so long as there exists no Event of Default by Servicer or UDC, terminate its appointment as Servicer pursuant to this Servicing Agreement at any time (1) at least upon at least ninety (90) days prior written notice to the Client and Agent, and (2) payment of $2 million to Client as a transition fee (but not as a penalty), which funds will be subject to the Agent's lien pursuant to the Loan and Security Agreement or any other documents granting a lien in favor of Agent and Lenders. (c) Notwithstanding the lack of an Event of Default or a Performance Event by the Servicer or UDC pursuant to this Servicing Agreement, the Interested Party may terminate the appointment of Servicer pursuant to this Servicing Agreement at any time (1) at least upon at least ninety (90) days prior written notice to the Servicer, and (2) payment by Client of (i) the accrued and unpaid servicer fee pursuant to Section 2.07(a)(i), the accrued and unpaid costs and expenses pursuant to Section 2.10(b), plus (iii) $2,000,000 to the Servicer.

Termination of Appointment of Servicer Without Cause. (a) The Interested Party may terminate the Servicer upon sixty (60) days written notice to Servicer upon the occurrence of a Performance Event. Upon such termination, Servicer shall be entitled to receive (i) the accrued and unpaid servicer fee pursuant to Section 2.07(a)(i), the accrued and unpaid costs and expenses pursuant to Section 2.10(b), plus (iii) the Deboarding Charge from Client, but shall not have any other claim resulting from such termination. (b) Notwithstanding the lack of an Event of Default by Client pursuant to this Servicing Agreement, Servicer may, so long as there exists no Event of Default by Servicer or UDC, terminate its appointment as Servicer pursuant to this Servicing Agreement at any time (1) at least upon at least ninety (90) days prior written notice to the Client and Agent, and (2) payment of $2 million to Client as a transition fee (but not as a penalty), which funds will be subject to the Agent's lien pursuant to the Loan and Security Agreement or any other documents granting a lien in favor of Agent and Lenders. (c) Notwithstanding the lack of an Event of Default or a Performance Event by the Servicer or UDC pursuant to this Servicing Agreement, the Interested Party may terminate the appointment of Servicer pursuant to this Servicing Agreement at any time anytime (1) at least upon at least ninety (90) days prior written notice to the Servicer, and (2) payment by Client of (i) the accrued and unpaid servicer fee pursuant to Section 2.07(a)(i), the accrued and unpaid costs and expenses pursuant to Section 2.10(b), plus (iii) $2,000,000 to the Servicer.