Common use of Merger or Consolidation of the Primary Servicer Clause in Contracts

Merger or Consolidation of the Primary Servicer. The Primary Servicer shall keep in full effect its existence, rights and franchises as a limited liability company under the laws of the state of its formation except as permitted herein, and shall obtain and preserve its qualification to do business as a foreign limited liability company in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement or the Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Primary Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Primary Servicer shall be a party, or any Person succeeding to the business or substantially all of the servicing business of the Primary Servicer, shall be the successor of the Primary Servicer 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 the successor or surviving Person (i) must be a company whose business includes the servicing of mortgage loans and shall be authorized to transact business in each state in which the Mortgaged Properties it is to service are situated, (ii) must be acceptable to the Master Servicer (which acceptance shall not be unreasonably withheld, conditioned or delayed), and (iii) shall assume in writing the obligations of the Primary Servicer under this Agreement.

Merger or Consolidation of the Primary Servicer. The Primary Servicer shall keep in full effect its existence, rights and franchises as a limited liability company under the laws of the state of its formation except as permitted herein, and shall obtain and preserve its qualification to do business as a foreign limited liability company in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement or the Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Primary Servicer may be merged or consolidated, or any corporation limited liability company resulting from any merger, conversion or consolidation to which the Primary Servicer shall be a party, or any Person succeeding to the business of the Primary Servicer, or any Person succeeding to all or substantially all of the servicing business of the Primary Servicer, shall be the successor of the Primary Servicer 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 the successor or surviving Person (i) must be a company whose business includes is the origination and servicing of mortgage loans and shall be authorized to transact business in each the state or states in which the Mortgaged Properties it is to service are situated, (ii) must be reasonably acceptable to the Master Servicer (which acceptance shall not be unreasonably withheld, conditioned or delayed)Servicer, and (iii) shall assume in writing the obligations of the Primary Servicer under this Agreement.

Merger or Consolidation of the Primary Servicer. The Subject to the following paragraph, the Primary Servicer shall will keep in full effect its existence, rights and franchises as a limited liability company corporation under the laws of the state of its formation organization except as permitted herein, herein and shall will obtain and preserve its qualification to do business as a foreign limited liability company entity 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 The Primary Servicer may be merged or consolidatedconsolidated with or into any Person, or transfer all or substantially all of its assets to any corporation Person, in which case any Person resulting from any merger, conversion merger or consolidation to which the Primary Servicer shall be a party, or any Person succeeding to the business or substantially all of the servicing business of the Primary Servicer, shall be the successor of the Primary Servicer 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 the successor or surviving Person (i) must be a company whose business includes the servicing of mortgage loans and shall be authorized to transact business in each state in which the Mortgaged Properties it is to service are situated, (ii) must be acceptable to the Master Servicer (which acceptance shall not be unreasonably withheld, conditioned or delayed), and (iii) shall assume in writing the obligations of the Primary Servicer under shall be qualified to service the Mortgage Loans in accordance with this AgreementAgreement and the PSA.

Merger or Consolidation of the Primary Servicer. The Primary Servicer shall keep in full effect its existence, rights and franchises as a limited liability company under the laws of the state of its formation except as permitted herein, and shall obtain and preserve its qualification to do business as a foreign limited liability company in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement or the Mortgage Loans Serviced Loan Combination and to perform its duties under this Agreement. Any Person into which the Primary Servicer may be merged or consolidated, or any corporation limited liability company resulting from any merger, conversion or consolidation to which the Primary Servicer shall be a party, or any Person succeeding to the business of the Primary Servicer, or any Person succeeding to all or substantially all of the servicing business of the Primary Servicer, shall be the successor of the Primary Servicer 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 the successor or surviving Person (i) must be a company whose business includes is the origination and servicing of mortgage loans and shall be authorized to transact business in each the state or states in which the Mortgaged Properties Property it is to service are is situated, (ii) must be reasonably acceptable to the Master Servicer (which acceptance shall not be unreasonably withheld, conditioned or delayed)Servicer, and (iii) shall assume in writing the obligations of the Primary Servicer under this Agreement.