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.
Appears in 16 contracts
Samples: Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)
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 on the Purchaserapplicable Transfer Date.
Appears in 5 contracts
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)
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 three-quarters percent (1.51.75%) 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 on the Purchaserapplicable Transfer Date.
Appears in 5 contracts
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs)
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.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Mortgage Loan Sale and Servicing Agreement (Sunset Financial Resources Inc)
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 on the Purchaserapplicable Transfer Date.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)
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 13.02 shall be paid by the Purchaser within ten (10) Business Days of any such termination without cause by on the Purchaserapplicable Transfer Date.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)
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 two percent (1.52.0%) of the aggregate outstanding principal balance of the Mortgage Loans as of the date of such termination, as well as any reasonable and necessary costs to transfer servicing under Subsection 11.22. The termination fee provided for in this Subsection 14.02 shall be paid by the Purchaser within ten three (103) Business Days of any such termination without cause by the Purchaser or as mutually agreed by Servicer and Purchaser.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
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 a half percent (1.51.50%) )] 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 on the Purchaserapplicable Transfer Date.
Appears in 1 contract
Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-8)