Common use of Notice of Servicer Default Clause in Contracts

Notice of Servicer Default. In the case of a Servicer Default referred to in Section 6.1 hereof or upon any termination of the Servicers pursuant to Article VII hereof, the Trustee shall immediately notify the Supervisory Servicer by telephone or telecopy (telephonic notice to be followed by written notice within one Business Day) and shall promptly notify the Rating Agency and the Holders in writing.

Notice of Servicer Default. In the case of a Servicer Default referred to in Section 6.1 hereof or upon any termination of the Servicers Servicer pursuant to Article VII hereof, the Trustee shall immediately notify the Supervisory Servicer by telephone or telecopy (telephonic notice to be followed by written notice within one Business Day) and shall promptly notify the Rating Agency and the Holders in writing.

Notice of Servicer Default. In the case of a Servicer Default referred to in Section 6.1 hereof or upon any termination of the Servicers Servicer pursuant to Article VII hereof, the Trustee shall immediately notify the Supervisory Servicer by telephone or telecopy (telephonic notice to be followed by written notice within one Business Day) and shall promptly notify the Rating Agency and the Holders in writingby first-class mail.

Notice of Servicer Default. In the case of a Servicer Default referred to in Section 6.1 hereof or upon any termination of the Servicers Servicer pursuant to Article VII hereof, the Trustee shall immediately notify the Supervisory Servicer by telephone or telecopy (telephonic notice to be EXHIBIT 10.12 SERVICING AGREEMENT - PAGE 26 OF 33 27 followed by written notice within one Business Day) and shall promptly notify the Rating Agency and the Holders in writing.