Common use of Termination Test; Certificateholder Vote Clause in Contracts

Termination Test; Certificateholder Vote. If pursuant to clause (A) of the definition of either the Ocwen Termination Test or the SPS Termination Test, the cumulative Realized Losses as a percentage of the original Aggregate Loan Balance on the Closing Date as of such Determination Date is greater than the percentage set forth in the table included in such definition, the Trustee shall report such failure on the part of either Ocwen or SPS, as applicable, to Certificateholders in its monthly statement, made pursuant to Section 4.04. After receipt by the Certificateholders of notice of such failure, if Holders of the Certificates entitled to 51% or more of the Voting Rights request in writing to the Trustee to terminate Ocwen or SPS, as applicable, as a Servicer under this Agreement, Ocwen or SPS will be deemed to have failed the Ocwen Termination Test and the SPS Termination Test, respectively, and shall be removed as a Servicer pursuant to Section 7.01.

Termination Test; Certificateholder Vote. If pursuant to clause (A) of the definition of either the Ocwen Termination Test or the SPS Termination Test, the cumulative Realized Losses as a percentage of the original Aggregate Loan Balance on the Closing Date as of such Determination Date is greater than the percentage set forth in the table included in such definition, the Trustee shall report such failure on the part of either Ocwen or SPS, as applicable, to Certificateholders in its monthly statement, made pursuant to Section 4.04. After receipt by the Certificateholders of notice of such failure, if Holders of the Certificates entitled to 51% or more of the Voting Rights request in writing to the Trustee to terminate Ocwen or SPS, as applicable, as a Servicer under this Agreement, Ocwen or SPS SPS, respectively, will be deemed deemded to have failed the Ocwen Termination Test and the SPS Termination Test, respectively, and shall be removed as a Servicer pursuant to Section 7.01.