FROM REGULUS OR WELLS FARGO TO
THE OTHER AND TO BORROWER AND LENDER SHOULD LENDER FAIL TO MAKE ANY PAYMENT WHEN
DUE TO REGULUS OR WELLS FARGO UNDER THE TERMS OF THIS AGREEMENT, OR (B) UPON
WRITTEN CONFIRMATION BY REGULUS OR WELLS FARGO TO THE OTHER AND TO LENDER OF
RECEIPT BY REGULUS OR WELLS FARGO, AS THE CASE MAY BE, OF WRITTEN NOTICE FROM
LENDER REQUESTING IMMEDIATE TERMINATION OF THIS AGREEMENT.
BORROWER AND LENDER
AGREE THAT THE LENDER ACCOUNT MAY BE CLOSED AS PROVIDED IN THE ACCOUNT
DOCUMENTATION.
THE RIGHTS OF
8
REGULUS AND WELLS FARGO AND THE OBLIGATIONS OF BORROWER AND LENDER UNDER
SECTIONS 6, 16, 18, 19, 20, 21 AND 23 OF THIS AGREEMENT WILL SURVIVE THE
TERMINATION OF THIS AGREE­MENT AND/OR THE CLOSURE OF THE LENDER ACCOUNT, AND ANY
LIABILITY OF ANY PARTY TO THIS AGREEMENT, AS DETERMINED UNDER THE PROVISIONS OF
THIS AGREEMENT, WITH RESPECT TO ACTS OR OMISSIONS OF SUCH PARTY PRIOR TO SUCH
TERMINA­TION OR CLOSURE WILL ALSO SURVIVE SUCH TERMINATION OR CLOSURE.
UPON ANY
SUCH TERMINATION OR CLOSURE, (A) REGULUS WILL CLOSE THE LOCKBOX, (B) REGULUS
WILL DISPOSE OF THE MAIL ADDRESSED TO THE LOCKBOX IN THE MANNER INSTRUCTED BY
LENDER FOR A PERIOD OF THREE MONTHS AFTER THE TERMINATION DATE, UNLESS ARRANGED
OTHERWISE BETWEEN LENDER AND REGULUS, WITH REGULUS' FEES WITH RESPECT TO SUCH
DISPOSITION BEING PREPAID DIRECTLY TO REGULUS AT THE TIME OF SUCH TERMINATION BY
A CHECK MADE PAYABLE TO "REGULUS", AND (C) ALL LEDGER BALANCES IN THE LENDER
ACCOUNT ON THE DATE OF THE CLOSURE OF THE LENDER ACCOUNT WILL BE TRANSFERRED TO
LENDER AS REQUESTED BY LENDER IN WRITING TO WELLS FARGO.
NOTICE OF TERMINATION
SHALL BE TRANSMITTED BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, COURIER, OR BY
PERSONAL DELIVERY TO THE NOTICE ADDRESS DESIGNATED AT THE END OF THIS
AGREEMENT.
NO SUCH TERMINATION SHALL IMPAIR THE RIGHTS OF ANY PARTY WITH
RESPECT TO ITEMS PROCESSED PRIOR TO THE EFFECTIVE DATE OF TERMINATION.
BORROWER
MAY NOT TERMINATE THIS AGREEMENT WITHOUT PRIOR WRITTEN CONSENT OF LENDER.
24.
NOTICES.
ALL NOTICES FROM ONE PARTY TO ANOTHER SHALL BE IN
WRITING, OR BE MADE BY A TELE­COMMUNICA­TIONS DEVICE CAPABLE OF CREATING A
WRITTEN RECORD, SHALL BE DELIVERED TO BORROWER, LENDER, REGULUS AND/OR WELLS
FARGO AT THEIR ADDRESSES FOR ALL NOTICES SPECIFIED AT THE END OF THIS AGREEMENT,
OR ANY OTHER ADDRESS OF ANY PARTY NOTIFIED TO THE OTHER PARTIES IN WRITING, AND
SHALL BE EFFECTIVE UPON RECEIPT.
ANY NOTICE SENT BY ONE PARTY TO THIS AGREEMENT
TO ANOTHER PARTY SHALL ALSO BE SENT TO THE OTHER PARTIES TO THIS AGREEMENT.
REGULUS AND WELLS FARGO ARE AUTHORIZED BY BORROWER AND LENDER TO ACT ON ANY
INSTRUCTIONS AND NOTICES RECEIVED BY REGULUS OR WELLS FARGO IF (A) SUCH
INSTRUCTIONS OR NOTICES PURPORT TO BE MADE IN THE NAME OF LENDER, (B) REGULUS OR
WELLS FARGO REASONABLY BELIEVES THAT THEY ARE SO MADE, AND (C) THEY DO NOT
CONFLICT WITH THE TERMS OF THIS AGREE­MENT, INCLUDING, BUT NOT LIMITED TO, THE
PROCESSING PROCEDURES,