Common use of Termination Upon Liquidation of All Mortgage Loans Clause in Contracts

Termination Upon Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities under this Agreement of the Issuer, the Master Servicer, the Special Servicer and the Trustee shall terminate upon the earlier of (i) payment to the Trustee of all amounts held by or on behalf of the Master Servicer or Special Servicer and required hereunder to be so paid on the first Master Servicer Remittance Date following the end of the Collection Period in which occurs the final payment or other liquidation of the last Mortgage Loan or REO Property subject hereto and (ii) satisfaction and discharge of the Indenture and receipt by each of the Master Servicer and the Special Servicer of all amounts then payable or reimbursable thereto hereunder. (b) Subject to the receipt thereby of all amounts then payable or reimbursable thereto hereunder, each of the Master Servicer and the Special Servicer acknowledges and agrees that, upon the satisfaction and discharge of the Indenture as described in clause (ii) above, it shall promptly (and in any event no later than____ Business Days) following its receipt of notice of such satisfaction and discharge from the Trustee provide the Issuer with all documents and records in its possession and shall cooperate with the Issuer or its designee in effecting the termination of the Master Servicer's or Special Servicer's, as the case may be, responsibilities and rights with respect to the Mortgage Loans, including, without limitation, the transfer within_____ Business Days to the Issuer of all cash amounts which shall at the time be or should have been credited by the Master Servicer to the Collection Account or any Servicing Account or by the Special Servicer to the REO Account, the Collection Account or any Servicing Account or thereafter be received by or on behalf of it with respect to any Mortgage Loan or REO Property. Any costs or expenses in connection with any actions to be taken by the Master Servicer or Special Servicer pursuant to this paragraph shall be borne by the Master Servicer or Special Servicer, as the case may be.

Termination Upon Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities under this Servicing Agreement of the Issuer, the Master Servicer, the Special Servicer Servicer, the Indenture Trustee and the Trustee Fiscal Agent shall terminate upon the earlier of (i) payment to the Indenture Trustee of all amounts held by or on behalf of the Master Servicer or Special Servicer and required hereunder to be so paid on the first Master Servicer Remittance Date following the end of the Collection Period calendar month in which occurs the final payment or other liquidation of the last Mortgage Loan or REO Property subject hereto and (ii) satisfaction and discharge of the Indenture and receipt by each of the Fiscal Agent, the Indenture Trustee, the Master Servicer and the Special Servicer of all amounts then payable or reimbursable thereto hereunder. (b) Subject to the receipt thereby of all amounts then payable or reimbursable thereto hereunder, each of the Master Servicer and the Special Servicer acknowledges and agrees that, upon the satisfaction and discharge of the Indenture as described in clause (ii) above, it shall promptly (and in any event no later than____ than ten (10) Business Days) following its receipt of notice of such satisfaction and discharge from the Indenture Trustee provide the Issuer with all documents and records in its possession and shall cooperate with the Issuer or its designee in effecting the termination of the Master Servicer's or Special Servicer's, as the case may be, responsibilities and rights with respect to the Mortgage Loans, including, without limitation, the transfer within_____ within three (3) Business Days to the Issuer of all cash amounts which shall at the time be or should have been credited by the Master Servicer to the Collection Account or any Servicing Account or by the Special Servicer to the REO Account, Account or the Collection Account or any Servicing Account or thereafter be received by or on behalf of it with respect to any Mortgage Loan or REO Property. Any costs or expenses in connection with any actions to be taken by the Master Servicer or Special Servicer pursuant to this paragraph shall be borne by the Master Servicer or Special Servicer, as the case may be.

Termination Upon Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities under this Agreement of the Issuer, the Master Servicer, the Special Servicer and the Trustee shall terminate upon the earlier of (i) payment to the Trustee of all amounts held by or on behalf of the Master Servicer or Special Servicer and required hereunder to be so paid on the first Master Servicer Remittance Date following the end of the Collection Period in which occurs the final payment or other liquidation of the last Mortgage Loan or REO Property subject hereto and (ii) satisfaction and discharge of the Indenture and receipt by each of the Master Servicer and the Special Servicer of all amounts then payable or reimbursable thereto hereunder. (b) Subject to the receipt thereby of all amounts then payable or reimbursable thereto hereunder, each of the Master Servicer and the Special Servicer acknowledges and agrees that, upon the satisfaction and discharge of the Indenture as described in clause (ii) above, it shall promptly (and in any event no later than____ Business Days) following its receipt of notice of such satisfaction and discharge from the Trustee provide the Issuer with all documents and records in its possession and shall cooperate with the Issuer or its designee in effecting the termination of the Master Servicer's or Special Servicer's, as the case may be, responsibilities and rights with respect to the Mortgage Loans, including, without limitation, the transfer within_____ Business Days to the Issuer of all cash amounts which shall at the time be or should have been credited by the Master Servicer to the Collection Custodial Account or any Servicing Account or by the Special Servicer to the REO Account, the Collection Custodial Account or any Servicing Account or thereafter be received by or on behalf of it with respect to any Mortgage Loan or REO Property. Any costs or expenses in connection with any actions to be taken by the Master Servicer or Special Servicer pursuant to this paragraph shall be borne by the Master Servicer or Special Servicer, as the case may be.