Common use of Termination of Servicing Clause in Contracts

Termination of Servicing. Purchaser may, upon written notice to Servicer, terminate the rights and obligations of Servicer set forth in this Amended Agreement, or any portion thereof, and notify the applicable Obligor(s) to make all subsequent Payments directly to Purchaser upon the occurrence of any one of the following: a) if Servicer shall fail to make any required payment due hereunder and such failure shall continue unremedied for ten (10) business days after notice, or if Servicer shall fail to perform any of its other agreement hereunder in any material respect and such failure shall continue unremedied for thirty (30) days after notice; b) any material representation or warranty made by Servicer in the Purchase and Sale Agreement, Amended Program Agreements, or by Servicer in this Amended Agreement shall prove to be false or inaccurate in any material respect if such inaccuracy would have a material adverse effect and such inaccuracy has not been remedied in all material respects within thirty (30) days after written notice; c) Servicer shall fail to perform any covenant contained in the Purchase and Sale Agreement or Amended Program Agreements and such failure shall continue unremedied for thirty (30) days (or in the case of a failure to pay money, ten (10) business days) after written notice;

Termination of Servicing. Purchaser may, upon written notice to Servicer, terminate the rights and obligations of Servicer set forth in this Amended Agreement, or any portion thereof, and notify the applicable Obligor(s) to make all subsequent Payments directly to Purchaser upon the occurrence of any one of the following: a) if Servicer shall fail to make any required payment due hereunder and such failure shall continue unremedied for ten (10) business days after notice, or if Servicer shall fail to perform any of its other agreement agreements hereunder in any material respect and such failure shall continue unremedied for thirty (30) days after notice; b) any material representation or warranty made by Servicer in the Purchase and Sale Agreement, Amended Program AgreementsAgreement, or by Servicer in this Amended Agreement shall prove to be false or inaccurate in any material respect if such inaccuracy would have a material adverse effect and such inaccuracy has not been remedied in all material respects within thirty (30) days after written notice; c) Servicer shall fail to perform any covenant contained in the Purchase and Sale Agreement or Amended Program Agreements Agreement and such failure shall continue unremedied for thirty (30) days (or in the case of a failure to pay money, ten (10) business days) after written notice;