Common use of Merger or Consolidation of the Depositor Clause in Contracts

Merger or Consolidation of the Depositor. the Originator, the Master Servicer or the Servicer. The Depositor, the Originator, the Master Servicer and the Servicer will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the Depositor, the Originator, the Master Servicer or the Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor, the Originator, the Master Servicer or the Servicer shall be a party, or any person succeeding to the business of the Depositor, the Originator, the Master Servicer or the Servicer, shall be the successor of the Depositor, the Originator, the Master Servicer or the Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that such merger, consolidation or succession does not adversely affect the then current rating or ratings on the Offered Certificates.

Merger or Consolidation of the Depositor. the Originator, the Master Servicer or the Master Servicer. The DepositorSubject to the following paragraph, the Originator, the Master Servicer and the Servicer Depositor will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, corporation under the laws of the United States or under jurisdiction of its incorporation. Subject to the laws of one of following paragraph, the states thereof Servicer will keep in full effect its existence, rights and franchises as a federally chartered savings bank. Subject to the following paragraph, the Master Servicer will keep in full effect its existence, rights and franchises as a national banking association. The Depositor, the Servicer and the Master Servicer each will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the The Depositor, the Originator, the Master Servicer or the Master Servicer may be merged or consolidatedconsolidated with or into any Person, or transfer all or substantially all of its assets to any Person, in which case any Person resulting from any merger or consolidation to which the Depositor, the Originator, the Master Servicer or the Master Servicer shall be a party, or any person Person succeeding to the business of the Depositor, the Originator, the Master Servicer or the Master Servicer, shall be the successor of the Depositor, the Originator, the Master Servicer or the Master Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that such mergerany successor of the Servicer or the Master Servicer shall meet the eligibility requirements set forth in clauses (i) and (iii) of the last paragraph of Section 8.02(a) or Section 7.06, consolidation or succession does not adversely affect the then current rating or ratings on the Offered Certificatesas applicable.

Merger or Consolidation of the Depositor. the Originator, the Master Servicer or the Servicer. The Depositor, the Originator, the Master Servicer and the Servicer will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the Depositor, the Originator, the Master Servicer or the Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor, the Originator, the Master Servicer or the Servicer shall be a party, or any person succeeding to the business of the Depositor, the Originator, the Master Servicer or the Servicer, shall be the successor of the Depositor, the Originator, the Master Servicer or the Servicer, as the case may be, hereunder, without the execution or filing of any paper or any 123 further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that such merger, consolidation or succession does not adversely affect the then current rating or ratings on the Offered Certificates.

Merger or Consolidation of the Depositor. the Originator, the Master Servicer or the Master Servicer. The DepositorSubject to the following paragraph, the Originator, the Master Servicer and the Servicer Depositor will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, corporation under the laws of the United States or jurisdiction of its incorporation. Subject to the following paragraph, the Servicer will keep in full effect its existence, rights and franchises as a banking corporation under the laws of one the jurisdiction of its incorporation. Subject to the following paragraph, the Master Servicer will keep in full effect its existence, rights and franchises as a corporation under the laws of the states thereof jurisdiction of its formation. The Depositor, the Servicer and the Master Servicer each will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the The Depositor, the Originator, the Master Servicer or the Master Servicer may be merged or consolidatedconsolidated with or into any Person, or transfer all or substantially all of its assets to any Person, in which case any Person resulting from any merger or consolidation to which the Depositor, the Originator, the Master Servicer or the Master Servicer shall be a party, or any person Person succeeding to the business of the Depositor, the Originator, the Master Servicer or the Master Servicer, shall be the successor of the Depositor, the Originator, the Master Servicer or the Master Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that such mergerany successor of the Servicer or the Master Servicer shall meet the eligibility requirements set forth in clauses (i) and (iii) of the last paragraph of Section 8.02(a) or Section 7.06, consolidation or succession does not adversely affect the then current rating or ratings on the Offered Certificatesas applicable.

Merger or Consolidation of the Depositor. the OriginatorTHE MASTER SERVICER, the Master Servicer or the ServicerTHE EMC SERVICER OR THE SELLER. The Depositor, the OriginatorMaster Servicer, the Master EMC Servicer and the Servicer Seller will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, corporation under the laws of the United States or under the laws of one of the states States thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the Depositor, the OriginatorMaster Servicer, the Master EMC Servicer or the Servicer Seller may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor, the OriginatorMaster Servicer, the Master EMC Servicer or the Servicer Seller shall be a party, or any person succeeding to the business of the Depositor, the OriginatorMaster Servicer, the Master EMC Servicer or the Servicer, Seller shall be the successor of the Depositor, the OriginatorMaster Servicer, the Master EMC Servicer or the ServicerSeller, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; providedprovided that the successor or surviving Person to the Master Servicer or the EMC Servicer shall be qualified to sell mortgage loans to, howeverand to service mortgage loans on behalf of, that such merger, consolidation Fannie Mae or succession does not adversely affect the then current rating or ratings on the Offered CertificatesFreddie Mac.

Merger or Consolidation of the Depositor. the OriginatorServicer, the Master Servicer Certificate Administrator or the ServicerCustodian. The Except as provided in the next paragraph, the Depositor, the OriginatorServicer, the Master Servicer and Certificate Administrator or the Servicer Custodian will each keep in full effect its existence, rights and franchises as a corporation, national bank corporation or state chartered industrial bank, as the case may be, banking association under the laws of the United States or under the laws of one of the states States thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the Depositor, the OriginatorServicer, the Master Servicer Certificate Administrator or the Servicer Custodian may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor, the OriginatorServicer, the Master Servicer Certificate Administrator or the Servicer Custodian shall be a party, or any person Person succeeding to the business of the Depositor, the OriginatorServicer, the Master Servicer Certificate Administrator or the ServicerCustodian, shall be the successor of the Depositor, the Originator, the Master Servicer Certificate Administrator or the Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstandingnotwithstanding (except for the execution of an assumption agreement where such succession is not effected by operation of law); provided, however, that such merger, consolidation the successor or succession does not adversely affect surviving Person to the then current rating Servicer shall be qualified to service mortgage loans on behalf of Xxxxxx Mae or ratings on the Offered CertificatesXxxxxxx Mac.

Merger or Consolidation of the Depositor. the Originator, the Master Servicer or the Master Servicer. The DepositorSubject to the following paragraph, the Originator, the Master Servicer and the Servicer Depositor will each keep in full effect its existence, rights and franchises as a corporation, national bank or state chartered industrial bank, as the case may be, corporation under the laws of the United States or under jurisdiction of its incorporation. Subject to the laws of one of following paragraph, the states thereof Servicer will keep in full effect its existence, rights and franchises as a national banking association. Subject to the following paragraph, the Master Servicer will keep in full effect its existence, rights and franchises as a national banking association. The Depositor, the Servicer and the Master Servicer each will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the The Depositor, the Originator, the Master Servicer or the Master Servicer may be merged or consolidatedconsolidated with or into any Person, or transfer all or substantially all of its assets to any Person, in which case any Person resulting from any merger or consolidation to which the Depositor, the Originator, the Master Servicer or the Master Servicer shall be a party, or any person Person succeeding to the business of the Depositor, the Originator, the Master Servicer or the Master Servicer, shall be the successor of the Depositor, the Originator, the Master Servicer or the Master Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that such mergerany successor of the Servicer or the Master Servicer shall meet the eligibility requirements set forth in clauses (i) and (iii) of the last paragraph of Section 8.02(a) or Section 7.06, consolidation or succession does not adversely affect the then current rating or ratings on the Offered Certificatesas applicable.