Common use of Termination of Servicing Notice Clause in Contracts

Termination of Servicing Notice. Seller shall give notice to Buyer promptly but not later than two (2) Business Days after receipt of notice or knowledge by a Responsible Officer of (i) any material default, notice of termination of servicing for cause or notice of any other matter materially and adversely affecting the Purchased Assets under the Gxxxxx Mxx Contract or (ii) any resignation of servicing, termination of servicing or notice of resignation of or termination of servicing, under the Gxxxxx Mxx Contract, outside the ordinary course of business.