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Common use of Termination of Backup Servicer Clause in Contracts

Termination of Backup Servicer. Upon ▇▇▇▇▇ Fargo’ receipt of a Backup Servicer Termination Note from the Deal Agent, ▇▇▇▇▇ Fargo agrees that it will terminate its activities as Backup Servicer hereunder.

Appears in 2 contracts

Sources: Note Purchase Agreement (NewStar Financial, Inc.), Note Purchase Agreement (NewStar Financial, Inc.)

Related Clauses

  • Master Servicing; Termination of Servicer
  • Termination of Servicing Agreements; Successor Servicers
  • Servicer Termination Event
  • Servicing Termination
  • Termination of Sub-Servicing Agreements

Parent Clauses

  • Backup Servicer
  • Servicing of Timeshare Loans
  • AFFIRMATIVE COVENANTS
  • Direction to the Owner Trustee
  • Default

Sub-Clauses

  • Unconditional Right of Noteholders to Receive Principal and Interest
  • Waiver of Events of Default
  • Delay or Omission Not Waiver
  • Indenture Trustee May Enforce Claims Without Possession of Notes
  • Rights and Remedies Cumulative
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