Common use of Termination of the Servicer Without Cause Clause in Contracts

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.