Common use of Termination of Depositor's Obligations Clause in Contracts

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (a) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (b) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (c) there shall have been the consent by the Unaffiliated Seller to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered into; or (e) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Home Equity Loans and prior to issuance of the Certificate Insurance Policies if: (a) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (b) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling marshaling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (c) there shall have been the consent by the Unaffiliated Seller to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling marshaling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered into; or (ed) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.. ARTICLE SIX

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (ai) any of the conditions set forth described in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or the Servicer, or for the winding up or liquidation of the affairs of the Unaffiliated SellerSeller or the Servicer; (ciii) there shall have been the consent by the Unaffiliated Seller or the Servicer to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of the Servicer or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered intoServicer; or (eiv) the Underwriter terminates its obligations under the Underwriting Agreement (except as a Termination Event shall have occurredresult of a failure solely due to a matter within the reasonable control of the Depositor). The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price Purchase Price for the Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or Emergent Group, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (ciii) there shall have been the consent by the Unaffiliated Seller or Emergent Group to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or Emergent Group or of or relating to substantially all of the property of the Unaffiliated SellerSeller or Emergent Group; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller or Emergent Group or the assets and properties of the Unaffiliated Seller or Emergent Group shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.. ARTICLE SIX

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (ai) any of the conditions set forth described in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or the Servicer, or for the winding up or liquidation of the affairs of the Unaffiliated SellerSeller or the Servicer; (ciii) there shall have been the consent by the Unaffiliated Seller or the Servicer to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of the Servicer or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered intoServicer; or (eiv) the Underwriters terminate their obligations under the Underwriting Agreement (except as a Termination Event shall have occurredresult of a failure solely due to a matter within the reasonable control of the Depositor). The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller Sponsor at any time before delivery of and payment of the purchase price Purchase Price for the Initial Mortgage Loans and Additional Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSponsor or Emergent Group, or for the winding up or liquidation of the affairs of the Unaffiliated SellerSponsor; (ciii) there shall have been the consent by the Unaffiliated Seller Sponsor or Emergent Group to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller Sponsor or Emergent Group or of or relating to substantially all of the property of the Unaffiliated SellerSponsor or Emergent Group; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller Sponsor or Emergent Group or the assets and properties of the Unaffiliated Seller Sponsor or Emergent Group shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price Purchase Price for the Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or Emergent Group, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (ciii) there shall have been the consent by the Unaffiliated Seller or Emergent Group to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or Emergent Group or of or relating to substantially all of the property of the Unaffiliated SellerSeller or Emergent Group; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller or Emergent Group or the assets and properties of the Unaffiliated Seller or Emergent Group shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (a) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (b) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (c) there shall have been the consent by the Unaffiliated Seller to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered into; or (e) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.. ARTICLE SIX

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price Purchase Price for the Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or HomeGold Financial, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (ciii) there shall have been the consent by the Unaffiliated Seller or HomeGold Financial to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or HomeGold Financial or of or relating to substantially all of the property of the Unaffiliated SellerSeller or HomeGold Financial; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller or HomeGold Financial or the assets and properties of the Unaffiliated Seller or HomeGold Financial shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price Purchase Price for the Initial Mortgage Loans and Additional Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or Emergent Group, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (ciii) there shall have been the consent by the Unaffiliated Seller or Emergent Group to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or Emergent Group or of or relating to substantially all of the property of the Unaffiliated SellerSeller or Emergent Group; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller or Emergent Group or the assets and properties of the Unaffiliated Seller or Emergent Group shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.

Termination of Depositor's Obligations. The Depositor may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (ai) any of the conditions set forth in Section 5.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller, or for the winding up or liquidation of the affairs of the Unaffiliated Seller; (ciii) there shall have been the consent by the Unaffiliated Seller to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of or relating to substantially all of the property of the Unaffiliated Seller; (div) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered into; or (ev) a Termination Event shall have occurred. The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.have

Termination of Depositor's Obligations. The Depositor -------------------------------------- may terminate its obligations hereunder by notice to the Unaffiliated Seller at any time before delivery of and payment of the purchase price for the Mortgage Loans if: (ai) any of the conditions set forth described in Section 5.01 4.01 are not satisfied when and as provided therein; (bii) there shall have been the entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated SellerSeller or the Servicer, or for the winding up or liquidation of the affairs of the Unaffiliated SellerSeller or the Servicer; (ciii) there shall have been the consent by the Unaffiliated Seller or the Servicer to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Unaffiliated Seller or of the Servicer or relating to substantially all of the property of the Unaffiliated Seller; (d) any purchase and assumption agreement with respect to the Unaffiliated Seller or the assets and properties of the Unaffiliated Seller shall have been entered intoServicer; or (eiv) the Underwriter terminates its obligations under the Underwriting Agreement (except as a Termination Event shall have occurredresult of a failure solely due to a matter within the reasonable control of the Depositor). The termination of the Depositor's obligations hereunder shall not terminate the Depositor's rights hereunder or its right to exercise any remedy available to it at law or in equity.