Common use of Terminating Entity Clause in Contracts

Terminating Entity. (i) SPS, or its successor Servicer, or the entity or entities designated pursuant to Section 7.04(a) of this Agreement, or (ii) if SPS or such successor Servicer or such entity or entities does not exercise its right to terminate the Trust Fund pursuant to Section 11.01 on the Optional Termination Date, ▇▇▇▇▇ Fargo, or its successor Servicer, or if none of SPS, the entity or entities designated pursuant to Section 7.04(a) of this Agreement or ▇▇▇▇▇ Fargo (nor their respective successor Servicers) exercises such right on such Optional Termination Date, thereafter, the first of SPS, or its successor Servicer, or the entity or entities designated pursuant to Section 7.04(a) of this Agreement, or ▇▇▇▇▇ Fargo, or its successor Servicer, that notifies the Trust Administrator of its intention to exercise such right.