Common use of Instruction Letters Clause in Contracts

Instruction Letters. With respect to Eligible Assets pledged to the Lender and Underlying Eligible Bonds, the Lender shall have received, no later than 10:00 a.m. three (3) days prior to the requested Funding Date, an Instruction Letter executed by the related Borrower, with the related Servicing Agreement or Governing Agreement attached thereto, which such Servicing Agreement or Governing Agreement shall be in form and substance acceptable to Lender. With respect to the Master Servicer or a Subservicer of a Borrower which is an Affiliate of a Borrower and which is servicing Mortgage Loans or Participation Certificates, such Subservicer or Master Servicer consents to terminate the related Servicing Agreement upon notification by the Lender of an occurrence of an Event of Default.

Instruction Letters. With respect to Eligible Assets pledged to the Lender and Underlying Eligible Bonds, the Lender shall have received, no later than 10:00 a.m. three (3) days prior to the requested Funding Date, an Instruction Letter executed by the related Borrower, with the related Servicing Agreement or Governing -94- 100 Agreement attached thereto, which such Servicing Agreement or Governing Agreement shall be in form and substance acceptable to Lender. With respect to the Master Servicer or a Subservicer of a Borrower which is an Affiliate of a Borrower and which is servicing Mortgage Loans or Participation Certificates, such Subservicer or Master Servicer consents to terminate the related Servicing Agreement upon notification by the Lender of an occurrence of an Event of Default.