Common use of Action Upon Certain Failures of the Servicer Clause in Contracts

Action Upon Certain Failures of the Servicer. and Upon ----------------------------------------------------- Event of Default. In the event that the Trustee shall have actual ---------------- knowledge of any action or inaction of the Servicer, which would become an Event of Default upon the Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Servicer. For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Servicer or any other Event of Default unless notified thereof in writing by the Servicer or by a Certificateholder.