Common use of Master Servicer Not to Resign Clause in Contracts

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.03, the Master Servicer shall not resign from the obligations and duties imposed on it by this Agreement as Master Servicer except (i) upon a determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or (ii) in the event of the appointment of a successor Master Servicer, upon satisfaction of the Rating Agency Condition.

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.03, the The Master Servicer shall not resign from the obligations and duties hereby imposed on it by under this Agreement as Master Servicer except (i) upon a determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or (ii) in the event of the appointment of a successor Master Servicer, upon satisfaction of the Rating Agency Conditionlaw.

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.037.02, the Master Servicer shall not resign from the its obligations and duties hereby imposed on it by this Agreement as Master Servicer except (i) upon a determination that the performance of its duties under this Agreement shall hereunder are no longer be permissible under applicable law or (ii) in law. Any such determination permitting the event resignation of the appointment Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor Master Servicer shall have assumed the Master Servicer, upon satisfaction of the Rating Agency Condition's responsibilities and obligations in accordance with Section 8.05 hereof.

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.03, the The Master Servicer shall not resign from the obligations and duties imposed on upon it by this Agreement as Master Servicer hereunder except (i) upon a determination that the performance of its such obligations and duties under this Agreement shall hereunder are no longer be permissible under applicable law or (ii) in law. Any such determination permitting the event resignation of the appointment Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer, upon satisfaction of the Rating Agency Condition's responsibilities and obligations in accordance with Section 7.02 hereof.

Master Servicer Not to Resign. (a) Subject to the provisions of Except as provided in Section 7.037.07, the Master Servicer shall not resign from the obligations and duties hereby imposed on it by this Agreement as Master Servicer except (i) upon a determination that the performance of its any such duties under this Agreement shall hereunder are no longer be permissible under applicable law or (ii) in law. Any such determination permitting the event resignation of the appointment Master Servicer shall be evidenced by an Opinion of Independent Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor to the Master Servicer, upon satisfaction Servicer shall have assumed the responsibilities and obligations of the Rating Agency Condition.Master Servicer in accordance with Section 8.02

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.03, the The Master Servicer shall not resign from the obligations and duties hereby imposed on it by this Agreement as Master Servicer except (i) upon a determination that the performance of its duties under this Agreement shall hereunder is no longer be permissible under applicable law or (ii) in law. Any such determination permitting the event resignation of the appointment Master Servicer shall be evidenced by an Opinion of Counsel for the Master Servicer to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor Master Servicer, upon satisfaction Servicer shall have assumed the responsibilities and obligations of the Rating Agency ConditionMaster Servicer in accordance with Section 7.03.

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.035.02, the Master Servicer shall not resign from the obligations and duties imposed on it by this Agreement as Master Servicer under this Agreement except (i) upon a determination that if the performance of its duties obligations under this Agreement shall are no longer be permissible under applicable law or due to applicable law are in material conflict with any other activities carried on by it or its subsidiaries or Affiliates that are of a type and nature carried on by the Master Servicer or its subsidiaries or Affiliates at the date of this Agreement or (ii) in the event of the appointment of a successor Master Servicer, upon satisfaction of the Rating Agency Condition.if

Master Servicer Not to Resign. (a) Subject to the provisions of Section 7.03, the Master Servicer shall not resign from the obligations and duties imposed on it by this Agreement as Master Servicer except (i) upon a determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or (ii) in the event of the appointment of a successor Master Servicer, upon satisfaction of the Rating Agency Conditionlaw.