Termination of the Servicer Without Cause Sample Clauses

Termination of the Servicer Without Cause. (a) Notwithstanding anything herein to the contrary, the Purchaser may terminate the obligations and responsibilities of the Servicer in its capacity as Servicer, without cause, upon payment to the Servicer of a termination fee equal to one and one half percent (1.5%) of the aggregate outstanding principal balance of the Mortgage Loans as of the date of such termination. The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser within ten (10) Business Days of any such termination without cause by the Purchaser.
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Termination of the Servicer Without Cause. Notwithstanding anything herein to the contrary, the Purchaser may terminate the obligations and responsibilities of the Servicer in its capacity as Servicer, without cause, upon payment to the Servicer of a termination fee equal to two percent (2%) of the aggregate outstanding principal balance of the Mortgage Loans as of the date of such termination. In addition, the Purchaser shall reimburse the Servicer for any and all out-of-pocket costs incurred by the Servicer in connection with such termination; provided, however, that the Purchaser's reimbursement obligation for such out-of-pocket costs shall not exceed Fifty Dollars ($50.00) per Mortgage Loan. The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser within ten (10) Business Days of any such termination without cause by the Purchaser, and the Purchaser shall reimburse the Servicer for its out-of-pocket costs resulting from such termination within ten (10) Business Days following the Purchaser's receipt of an invoice for such costs.
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Termination of the Servicer Without Cause. Notwithstanding anything herein to the contrary, upon 45 days prior written notice from Purchaser to Servicer, the Purchaser may terminate the obligations and responsibilities of the Servicer in its capacity as Servicer, without cause, upon payment to the Servicer of a termination fee equal to two percent (2.0%) of the aggregate outstanding principal balance of the Mortgage Loans as of the date of such termination. No such termination fee shall be payable in connection with any termination pursuant to Subsections 11.01 or 11.12(a). The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser on the applicable Transfer Date.
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Termination of the Servicer Without Cause. Notwithstanding anything herein to the contrary, the Purchaser may terminate the obligations and responsibilities of the Servicer in its capacity as Servicer, without cause, upon payment to the Servicer of a termination fee equal to the fair market value of the servicing rights with respect to a pool of the aggregate outstanding principal balance of the Mortgage Loans as of the date of such termination as mutually determined by the Servicer and the Purchaser in good faith. The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser on the applicable Transfer Date.
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Termination of the Servicer Without Cause. The Depositor may terminate the Servicer without cause upon 90 days prior written notice; provided, however, that no such termination will be effective until the obligations of the Servicer hereunder have been assumed by a successor servicer appointed in accordance with Section 8.7. Notwithstanding the foregoing, if the Servicer is terminated without cause, the successor servicer shall reimburse the Servicer for all accrued and unpaid Servicing Fees and unreimbursed Monthly Advances and Servicing Advances upon the transfer of servicing to such successor servicer.
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Termination of the Servicer Without Cause. The Owner shall have the right to terminate this Agreement without cause with respect to any or all of the Mortgage Loans at any time prior to the expiration of the term of the Servicing Agreement (as set forth in Section 3 thereof), upon notifying the Servicer at least thirty days prior to such termination. In the event of a termination of this Agreement without cause by the Owner, the procedures set forth in Section 9.4 shall be followed and payment made in accordance with Section 8.1 and 9.2 hereof.
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Termination of the Servicer Without Cause. The Seller may, at its option, terminate the servicing responsibilities of Option One Mortgage Corporation hereunder with respect to the Mortgage Loans without cause. No such termination shall become effective unless and until a successor to Option One Mortgage Corporation shall have been appointed to service and administer the Mortgage Loans pursuant to the terms and conditions of this Agreement. No appointment shall be effective unless (i) such successor to Option One Mortgage Corporation meets the eligibility criteria contained in Section 8.02, (ii) the Trustee shall have consented to such appointment, (iii) the Rating Agencies have confirmed in writing that such appointment will not result in a downgrade, qualification or withdrawal of the then current ratings assigned to the Certificates, (iv) such successor has agreed to assume the obligations of Option One Mortgage Corporation hereunder to the extent of the Mortgage Loans and (v) all amounts reimbursable to Option One Mortgage Corporation pursuant to the terms of this Agreement shall have been paid to Option One Mortgage Corporation by the successor appointed pursuant to the terms of this Section 7.06
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Termination of the Servicer Without Cause. Notwithstanding anything herein to the contrary, the Purchaser may terminate the obligations and responsibilities of the Servicer in its capacity as Servicer, without cause, upon payment to the Servicer of a termination fee. With respect to each Mortgage Loan, a fee equal to the greater of (i) the product of the excess (if any) of the Purchase Price Percentage (as specified in the related Purchase Price and Terms Agreement) over 100% multiplied by the Stated Principal Balance of such Mortgage Loan and (ii) the fair value of the related Servicing Rights, in each case as of the date of termination. The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser on the applicable Transfer Date.
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Related to Termination of the Servicer Without Cause

  • Termination by Employer Without Cause Employer may terminate the Term (and Executive’s employment) by giving two weeks written notice to Executive. A termination made pursuant to this Section 5.3 is a “termination Without Cause.” A termination made pursuant to Section 5.2 (and satisfying the notice requirement set forth therein) shall under no circumstance be considered a termination Without Cause.

  • Termination by the Employer Without Cause Subject to the payment of Termination Benefits pursuant to Section 7(b), the Executive’s employment under this Agreement may be terminated by the Employer without Cause upon no less than sixty (60) days prior written notice to the Executive.

  • Termination Without Cause The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause.

  • Effect of Termination Without Cause If Employee's employment is terminated "Without Cause":

  • Termination Without Cause by the Company In furtherance of the “at will” basis of Executive’s employment by the Company, the Company may terminate Executive’s employment without Cause upon written notice to Executive. Executive’s termination without Cause will be effective on the date of termination specified by the Company in such written notice. Such written notice shall be deemed received, if mailed first class through the U. S. Postal System, three (3) business days after mailing such written notice to Executive.

  • Termination of Employment by the Company Without Cause The Company may terminate the Executive’s employment without Cause during the Term upon written notice to the Executive. If the Executive’s employment is so terminated by the Company in connection with or within one year after a Change in Control, the Executive shall thereupon be entitled to the following:

  • Termination by the Corporation Without Cause (a) The Corporation may terminate this Agreement at any time, without cause and for any reason, upon notice to the Employee setting forth the date of termination (this date of termination and any other date of termination prior to the Scheduled Termination Date is referred to as the "Early Termination Date"). In this event, the Employee shall be entitled to continue to receive, for a period of one (1) year after the Early Termination Date, the same Base Salary which the Employee was receiving at the time of such Early Termination Date (in the manner and as described in Section 3.1) and all Executive Benefits which the Employee was receiving or entitled to receive as of such Early Termination Date (in the manner and as described in Section 4.1). Further, all outstanding stock options which shall have been granted to the Employee shall immediately become exercisable (if not already exercisable in full) and shall continue in full force and effect.

  • Involuntary Termination by the Company without Cause At all times during the Term, the Board may terminate the Executive’s employment for reasons other than death, Disability, or for Cause, by providing to the Executive a Notice of Termination, at least sixty (60) calendar days (ninety (90) calendar days when termination is due to non-renewal of this Agreement by the Company pursuant to Section 1.2) prior to the Effective Date of Termination; provided, however, that such notice shall not preclude the Company from requiring Executive to leave the Company immediately upon receipt of such notice.

  • Termination by the Company for Cause; Termination by the Executive without Good Reason (a) For purposes of this Agreement, “

  • Termination by the Company Without Cause The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause.

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