Common use of Trigger Events; Removal of Master Servicer Clause in Contracts

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the Seller, the Trustee and to Xxxxx'x and S&P. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.1. (e) No provision of this Section 11.2 shall have the effect of limiting the rights of the Company, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.1.

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the SellerCompany, the Trustee and to Xxxxx'x and S&P.each Rating Agency. (b) At any time after such determination and while a Trigger Event is continuingoccurring, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end size of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1Sections 7.01 and 7. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuingoccurring, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.17.02. (e) No provision of this Section 11.2 7.05 shall have the effect of limiting the rights of the Company, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.17.01.

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the SellerDepositor, the Trustee and to Xxxxx'x and S&P.each Rating Agency. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end size of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1Sections 7.01 and 7.02. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.17.02. (e) No provision of this Section 11.2 7.05 shall have the effect of limiting the rights of the CompanyDepositor, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.1.7.01. 112

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the SellerDepositor, the Trustee and to Xxxxx'x ____ and S&P.____. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as 97 the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.1. (e) No provision of this Section 11.2 shall have the effect of limiting the rights of the Company, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.1.

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the SellerDepositor, the Trustee and to Xxxxx'x and S&P.each Rating Agency. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end size of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1Sections 7.01 and 7. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.1. (e) No provision of this Section 11.2 shall have the effect of limiting the rights of the Company, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.1.7.02. 112

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the Seller, the Trustee and to Xxxxx'x and S&P. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and 135 unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.1. (e) No provision of this Section 11.2 shall have the effect of limiting the rights of the Company, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.1.

Trigger Events; Removal of Master Servicer. (a) Upon determination by the Certificate Insurer that a Trigger Event has occurred, the Certificate Insurer shall give notice of such Trigger Event to the Master Servicer, the SellerDepositor, the Trustee and to Xxxxx'x and S&P.each Rating Agency. (b) At any time after such determination and while a Trigger Event is continuing, the Certificate Insurer may direct the Trustee to remove the Master Servicer if the Certificate Insurer makes a determination that the manner of master servicing was a factor contributing to the end size of the delinquencies or losses incurred in the Trust Fund. (c) Upon receipt of directions to remove the Master Servicer pursuant to the preceding clause (b), the Trustee shall notify the Master Servicer that it has been terminated and the Master Servicer shall be terminated in the same manner as specified in Section 11.1Sections 7.01 and 7. (d) After notice of occurrence of a Trigger Event has been given and while a Trigger Event is continuing, until and unless the Master Servicer has been removed as provided in clause (b), the Master Servicer covenants and agrees to act as the Master Servicer for a term from the occurrence of the Trigger Event to the end of the calendar quarter in which such Trigger Event occurs, which term may at the Certificate Insurer's discretion be extended by notice to the Trustee for successive terms of three (3) calendar months each, until the termination of the Trust Fund. The Master Servicer will, upon the receipt of each such notice of extension (a "Master Servicer Extension Notice") become bound for the duration of the term covered by such Master Servicer Extension Notice to continue as Master Servicer subject to and in accordance with this Agreement. If, as of the fifteenth (15th) day prior to the last day of any term as the Master Servicer, the Trustee shall not have received any Master Servicer Extension Notice from the Certificate Insurer, the Trustee shall, within five (5) days thereafter, give written notice of such nonreceipt to the Certificate Insurer and the Master Servicer. If any such term expires without a Master Servicer Extension Notice then the Trustee shall act as Master Servicer as provided in Section 11.17.02. (e) No provision of this Section 11.2 7.05 shall have the effect of limiting the rights of the CompanyDepositor, the Trustee, the Certificateholders or the Certificate Insurer under Section 11.17.01.