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 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 5.1 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 Seller, or for the winding up or liquidation of the affairs of the Seller; (c) there shall have been the consent by the 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 Seller or of or relating to substantially all of the property of the Seller; (d) any purchase and assumption agreement with respect to the Seller or the assets and properties of the 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 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 5.1 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 SellerSeller or the Servicer, or for the winding up or liquidation of the affairs of the SellerSeller or the Servicer; (ciii) there shall have been the consent by the 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 Seller or of the Servicer or relating to substantially all of the property of the Seller; (d) any purchase and assumption agreement with respect to the Seller or the assets and properties of the 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 Seller Originators 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 5.1 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 SellerOriginators, or for the winding up or liquidation of the affairs of the SellerOriginators; (c) there shall have been the consent by the Seller Originators 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 Seller Originators or of or relating to substantially all of the property of the SellerOriginators; (d) any purchase and assumption agreement with respect to the Seller Originators or the assets and properties of the Seller Originators 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 Seller Transferor 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 5.1 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 SellerTransferor, or for the winding up or liquidation of the affairs of the SellerTransferor; (c) there shall have been the consent by the Seller Transferor 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 Seller Transferor or of or relating to substantially all of the property of the SellerTransferor; (d) any purchase and assumption agreement with respect to the Seller Transferor or the assets and properties of the Seller Transferor 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.