Common use of Termination of Servicer Clause in Contracts

Termination of Servicer. The respective obligations and responsibilities of the Servicer shall terminate upon: (i) the later of the final payment or other liquidation (or any advance with respect thereto) of the last Mortgage Loan or the disposition of all REO Property and the remittance of all funds due hereunder; or (ii) by mutual consent of the Servicer and the Purchaser in writing; or (iii) in the event that the Mortgage Loans become the subject of a Securitization Transaction, in accordance with any requirements of any rating agency which has rated or will rate some or all of the securities issued in connection with such Securitization Transaction, as such requirements pertain to such Securitization Transaction.