Common use of Two Month Renewal of Servicer Term Clause in Contracts

Two Month Renewal of Servicer Term. Beginning March 1, 2000, the term of the Servicer shall be extended for successive two calendar month terms that end on April 30, June 30, August 31, October 31, December 31 and February 28 of each year, until the Certificates are paid in full; provided that the Oversight Agent delivers written notice of renewal in the form attached hereto as Exhibit K (the "Servicer Renewal Notice") prior to expiration of the preceding two month term. The Oversight Agent, on behalf of the Certificate Insurer, shall send such Servicer Renewal Notice at least 30 days prior to the beginning of the next successive two calendar month term, unless at least 45 days prior to such next two calendar month term the Certificate Insurer delivers written notice to the Oversight Agent (with a copy to the Trustee) that instructs the Oversight Agent not to renew the term of the Servicer hereunder. Each such Servicer Renewal Notice shall be delivered by the Oversight Agent to the other parties hereto and the Certificate Insurer. The Servicer agrees that, as of the date hereof and upon its receipt of any such Servicer Renewal Notice, the Servicer shall be bound for the duration of the initial term and each successive two month term covered by such Servicer Renewal Notice to act as the Servicer for the Mortgage Loans hereunder, unless the Servicer is otherwise terminated in accordance with Section 8.20 hereof. If the Oversight Agent has not sent the Servicer Renewal Notice at least 30 days prior to expiration of the preceding two month term, then the Certificate Insurer may deliver the Servicer Renewal Notice to the Servicer, which shall be binding upon the parties hereto, with the same effect as if the Oversight Agent had delivered such Servicer Renewal Notice.

Two Month Renewal of Servicer Term. Beginning with March 1, 20001999, the term of the Servicer shall be extended for successive two calendar month terms that end on April 30, June 30, August 31, October 31, December 31 and February 28 of each year28, until the Certificates Notes are paid in full; provided that the Oversight Agent Indenture Trustee delivers written notice of renewal in the form attached hereto as Exhibit K (the "Servicer Renewal Notice") prior to expiration of the preceding two month term. The Oversight AgentIndenture Trustee, on behalf of the Certificate Securities Insurer, shall send such Servicer Renewal Notice at least 30 days prior to the beginning of the next successive two calendar month term, unless at least 45 days prior to such next two calendar month term the Certificate Securities Insurer delivers written notice to the Oversight Agent Indenture Trustee (with a copy to the TrusteeMaster Servicer) that instructs the Oversight Agent Indenture Trustee not to renew the term of the Servicer hereunder. Each such Servicer Renewal Notice shall be delivered by the Oversight Agent Indenture Trustee to the other parties hereto and the Certificate Securities Insurer. The Servicer agrees that, as of the date hereof and upon its receipt of any such Servicer Renewal Notice, the Servicer shall be bound for the duration of the initial term and each successive two month term covered by such Servicer Renewal Notice to act as the Servicer for the Mortgage Home Loans hereunder, unless the Servicer is otherwise terminated in accordance with Section 8.20 4.01A(c) or Article X hereof. If the Oversight Agent Indenture Trustee has not sent the Servicer Renewal Notice at least 30 days prior to expiration of the preceding two month term, then the Certificate Securities Insurer may deliver the Servicer Renewal Notice to the Servicer, which shall be binding upon the parties hereto, with the same effect as if the Oversight Agent Indenture Trustee had delivered such Servicer Renewal Notice.

Two Month Renewal of Servicer Term. Beginning March September 1, 20001999, the term of the Servicer shall be extended for successive two calendar month terms that end on October 31, December 31, February 28, April 30, June 30, 30 and August 31, October 31, December 31 and February 28 of each year, until the Certificates are paid in full; provided that the Oversight Agent delivers written notice of renewal in the form attached hereto as Exhibit K (the "Servicer Renewal Notice") prior to expiration of the preceding two month term. The Oversight Agent, on behalf of the Certificate Insurer, shall send such Servicer Renewal Notice at least 30 days prior to the beginning of the next successive two calendar month term, unless at least 45 days prior to such next two calendar month term the Certificate Insurer delivers written notice to the Oversight Agent (with a copy to the Trustee) that instructs the Oversight Agent not to renew the term of the Servicer hereunder. Each such Servicer Renewal Notice shall be delivered by the Oversight Agent to the other parties hereto and the Certificate Insurer. The Servicer agrees that, as of the date hereof and upon its receipt of any such Servicer Renewal Notice, the Servicer shall be bound for the duration of the initial term and each successive two month term covered by such Servicer Renewal Notice to act as the Servicer for the Mortgage Loans hereunder, unless the Servicer is otherwise terminated in accordance with Section 8.20 hereof. If the Oversight Agent has not sent the Servicer Renewal Notice at least 30 days prior to expiration of the preceding two month term, then the Certificate Insurer may deliver the Servicer Renewal Notice to the Servicer, which shall be binding upon the parties hereto, with the same effect as if the Oversight Agent had delivered such Servicer Renewal Notice.

Two Month Renewal of Servicer Term. Beginning with March 1, 20001999, the term of the Servicer shall be extended for successive two calendar month terms that end on April 30, June 30, August 31, October 31, December 31 and February 28 of each year28, until the Certificates are paid in full; provided that the Oversight Agent Trustee delivers written notice of renewal in the form attached hereto as Exhibit K (the "Servicer Renewal Notice") prior to expiration of the preceding two month term. The Oversight AgentTrustee, on behalf of the Certificate Insurer, shall send such Servicer Renewal Notice at least 30 days prior to the beginning of the next successive two calendar month term, unless at least 45 days prior to such next two calendar month term the Certificate Insurer delivers written notice to the Oversight Agent Trustee (with a copy to the TrusteeMaster Servicer) that instructs the Oversight Agent Trustee not to renew the term of the Servicer hereunder. Each such Servicer Renewal Notice shall be delivered by the Oversight Agent Trustee to the other parties hereto and the Certificate Insurer. The Servicer agrees that, as of the date hereof and upon its receipt of any such Servicer Renewal Notice, the Servicer shall be bound for the duration of the initial term and each successive two month term covered by such Servicer Renewal Notice to act as the Servicer for the Mortgage Loans hereunder, unless the Servicer is otherwise terminated in accordance with Section 8.20 hereof. If the Oversight Agent Trustee has not sent the Servicer Renewal Notice at least 30 days prior to expiration of the preceding two month term, then the Certificate Insurer may deliver the Servicer Renewal Notice to the Servicer, which shall be binding upon the parties hereto, with the same effect as if the Oversight Agent Trustee had delivered such Servicer Renewal Notice.