Common use of Assignment by the Depositor or the Servicer Clause in Contracts

Assignment by the Depositor or the Servicer. Notwithstanding anything to the contrary contained herein, except as provided in Sections 6.04, 7.03 and 8.03, neither the Seller nor the Servicer may assign all, or a portion of, its rights, obligations and duties under this Agreement unless such transfer or assignment satisfies the Rating Agency Condition. In the event of a transfer or assignment pursuant to this Section 10.04, the Rating Agencies shall be provided with notice of such transfer or assignment. Nothing contained in this Section 10.04 shall apply to a delegation of duties under Section 3.09 or 7.05.