Neither the Company nor the Servicer May Resign. Neither the Company nor the Servicer shall resign from its respective obligations and duties hereby imposed on it, as applicable, except upon determination by the Company or the Servicer that its respective duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Company or the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor Servicer shall have assumed the Servicer’s responsibilities and obligations in accordance with Section 7.02 hereof. The Servicer shall give prompt written notice to the Company of any information received by the Servicer which affects or relates to an ongoing obligation or right of the Company under this Agreement.
Appears in 70 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy4), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy5), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy6)
Neither the Company nor the Servicer May Resign. Neither the Company nor the Servicer shall resign from its respective obligations and duties hereby imposed on it, as applicable, except upon determination by the Company or the Servicer that its respective duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Company or the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor Servicer shall have assumed the Servicer’s 's responsibilities and obligations in accordance with Section 7.02 hereof. The Servicer shall give prompt written notice to the Company of any information received by the Servicer which affects or relates to an ongoing obligation or right of the Company under this Agreement.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa6), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa4), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa5)
Neither the Company nor the Servicer May Resign. Neither the Company nor the Servicer shall resign from its respective obligations and duties hereby imposed on it, as applicable, except upon determination by the Company or the Servicer that its respective duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Company or the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor Servicer shall have assumed the Servicer’s 's responsibilities and obligations in accordance with Section 7.02 hereof. The Servicer shall give prompt written notice to the Company of any information received by the Servicer which affects or relates to an ongoing obligation or right of the Company under this Agreement.7.02
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Asset Acceptance Corp.)
