Termination of the Servicer Upon Unremedied Event of Default. The Owner may, at its sole option, following an unremedied Event of Default and in accordance with Section 6.1, terminate any rights the Servicer may have hereunder. The Owner, with full cooperation of the Servicer, shall arrange for the transfer of servicing, at the Owner's option, to the Owner or a third party successor servicer pursuant to Section 9.1, and the Servicer shall continue servicing the Mortgage Loans under this Agreement, for the Servicing Fee provided herein, until the Owner gives the Servicer notice of such transfer.
Appears in 9 contracts
Samples: Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-A1), Servicing Agreement (Luminent Mortgage Trust 2007-1)
Termination of the Servicer Upon Unremedied Event of Default. The Owner may, at its sole option, following an unremedied Event of Default and in accordance with Section 6.1, terminate any rights the Servicer may have hereunder. The Owner, with full cooperation of the Servicer, shall arrange for the transfer of servicing, at the Owner's ’s option, to the Owner or a third party successor servicer pursuant to Section 9.1, and the Servicer shall continue servicing the Mortgage Loans under this Agreement, for the Servicing Fee provided herein, until the Owner gives the Servicer notice of such transfer.
Appears in 6 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Servicing Agreement (Lehman Mortgage Trust 2007-3), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-7)
Termination of the Servicer Upon Unremedied Event of Default. The Owner may, at its sole option, following an unremedied Event of Default and in accordance with Section 6.1, terminate any rights the Servicer may have hereunder. The Owner, with full cooperation of the Servicer, shall arrange for the transfer of servicing, at the Owner's option, to the Owner or a third party successor servicer pursuant to Section 9.1, and the Servicer shall continue servicing the Mortgage Loans under this Agreementservicing, for the Servicing Fee provided herein, the Mortgage Loans under this Agreement until the Owner gives the Servicer notice of such transfer.
Appears in 6 contracts
Samples: Servicing Agreement (Banc of America Funding 2006-6 Trust), Servicing Agreement (Banc of America Funding Corp), Servicing Agreement (Banc of America Funding 2006-5 Trust)
Termination of the Servicer Upon Unremedied Event of Default. The Owner may, at its sole option, following an unremedied Event of Default and in accordance with Section 6.1, terminate any rights the Servicer may have hereunder. Any such notice of termination shall be in writing. The Owner, with full cooperation of the Servicer, shall arrange for the transfer of servicing, at the Owner's ’s option, to the Owner or a third party successor servicer pursuant to Section 9.1, and the Servicer shall continue servicing the Mortgage Loans under this Agreement, for the Servicing Fee provided herein, until the Owner gives the Servicer notice of such transfer.
Appears in 1 contract
Samples: Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A1)
