Common use of Resignation of the Master Servicer Clause in Contracts

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 20 contracts

Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-He3), Pooling and Servicing Agreement (GSAMP Trust 2006-He3), Pooling and Servicing Agreement (GSAMP Trust 2006-Fm2)

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Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff5), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Wf1), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-He1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Wxxxx Fargo, as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Nc1), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff11), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-Wmc1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a another successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.National Association, as Master Servicer, resigns under this undxx xxis Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. National Association shall also resign (and shall be entitled xxxxxled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 6 contracts

Samples: Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2007-2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc3), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He7)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is xx xx removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Xxxxrities Administrator under this Agreement.

Appears in 5 contracts

Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-6), Mortgage Loan Sale and Servicing Agreement (GSAA Home Equity Trust 2006-16), Servicing and Trust Agreement (GSAA Home Equity Trust 2006-18)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.CitiMortgage, as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Fargo Bank, N.A. Citibank shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Wf1), Pooling and Servicing Agreement (Hsi Asset Securitization Corp Trust 2007-Opt1), Pooling and Servicing Agreement (Hsi Asset Securitization Corp)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is ox xx removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Xxxxxities Administrator under this Agreement.

Appears in 4 contracts

Samples: Servicing Agreement (GSAA Home Equity Trust 2006-11), Servicing Agreement (GSAA Home Equity Trust 2006-17), Servicing Agreement (GSAA Home Equity Trust 2006-10)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the TrusteeTrustee and the NIM Insurer. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee Trustee, the NIM Insurer and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the TrusteeTrustee and the NIM Insurer. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor and the NIM Insurer of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 3 contracts

Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a another successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.National Association, as Master Servicer, resigns under this undxx xxis Section 0.009.09, or is removed as Master Servicer pursuant Servxxxx xxxsuant to Section 9.04, then at such time Wells Fargo Bank, N.A. National Association shall also resign (and shall be entitled xxxxxled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 3 contracts

Samples: Assignment and Recognition Agreement (Morgan Stanley IXIS Real Estate Capital Trust 2006-1), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He6), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He8)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is xx xs removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities ax Xxxurities Administrator under this Agreement.

Appears in 2 contracts

Samples: Trust Agreement (GSAA Home Equity Trust 2007-2), Servicing Agreement (GSAA Home Equity Trust 2006-19)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. [If at any time, Wells Fargo Bank, N.A.[ ], as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Fargo Bank, N.A. [ ] shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.]

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp), Pooling and Servicing Agreement (Hsi Asset Securitization Corp)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Xxxxx Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp), Pooling and Servicing Agreement (HASCO Trust 2005-Nc2)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and to the Depositor to and the Trustee. If at any time, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-Ahl2), Pooling and Servicing Agreement (GSAMP Trust 2005-He6)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the TrusteeTrustee and the NIM Insurer. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee Trustee, the NIM Insurer and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 2 contracts

Samples: Servicing Agreement (GSAA Home Equity Trust 2007-10), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-9)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, time Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1), Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind2)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Wxxxx Fargo, as Master ServicerSxxxxxxx, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement, pursuant to Section 10.07.

Appears in 1 contract

Samples: Servicing and Trust Agreement (GSR Mortgage Loan Trust 2006-Oa1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master ServicerXxxxxcer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign xxxxxn (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2005-9)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. 117 If at any time, Wells Wxxxx Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Xxxxx Fargo Bank, N.A., as Master ServicerXxxxxxxx, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. Bank shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement, pursuant to Section 10.07.

Appears in 1 contract

Samples: Trust Agreement (GSR 2007-Oa2)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the TrusteeTrustee and the Class AF-3W Certificate Insurer. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master ServicerSerxxxxx, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign resxxx (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Flow Servicing Agreement (GSAA Home Equity 2005-12)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master Xxxxxr Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also shalx xxxo resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-H1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Xxxxx Fargo Bank, N.A.National Association, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. National Association, shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2007-He1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Xxxxx Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Execution Copy (GSAA Home Equity Trust 2005-6)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HASCO Trust 2005-Nc1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the TrusteeTrustee and the NIM Insurer. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee Trustee, the NIM Insurer and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Wxxxx Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-8)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo JPMorgan Chase Bank, N.A.National Association, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then 100 at such time Wells Fargo Bank, N.A. shall also resign rxxxxx (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2005-11)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master ServicerXxxxxxxx, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement, pursuant to Section 10.07.

Appears in 1 contract

Samples: Trust Agreement (GreenPoint Mortgage Funding Trust 2006-Oh1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. Even if Wells Fargo is terminated or resigns as Master Servicer or Securities Axxxxxstrator, Wells Fargo still can remain as the Custodian. If at any timetxxx, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2)

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Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the The Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's Sxxxxxxx’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent Independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to shall have been appointed by the Trustee and the Depositor until such successor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this AgreementIndenture. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If If, at any time, Wells Fargo Bank, N.A., as the Master Servicer, Servicer resigns under this Section 0.003.16, or transfers or assigns its rights and obligations under Section 3.17, or is removed as Master Servicer pursuant to Section 9.043.20, then at such time Wells Fargo Bankthe Master Servicer also shall resign as Paying Agent, N.A. shall also resign (Authenticating Agent and shall be entitled to resixx) xs Securities Administrator Bxxx Registrar under this AgreementIndenture.

Appears in 1 contract

Samples: Indenture (Sequoia Mortgage Funding Corp)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Wxxxx Fargo Bank, N.A., as Master ServicerSxxxxxxx, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Wxxxx Fargo Bank, N.A. Bank shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement, pursuant to Section 10.07.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2007-Oa1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.National Association, as Master Servicer, resigns under this undxx xxis Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. National Association, shall also resign (and shall be entitled xxxxtled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (Natixis Real Estate Capital Trust 2007-He2)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a another successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Wxxxx Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S4)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed xx xemoved as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Sxxxxxties Administrator under this Agreement.

Appears in 1 contract

Samples: Servicing Agreement (GSAA Home Equity Trust 2006-20)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.CitiMortgage, as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Fargo Bank, N.A. Citibank shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00Sexxxxx 9.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxtx xxxign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2005-7)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a another successor master servicer satisfactory to the Trustee Trustee, and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.National Association, as Master Servicer, resigns under this undxx xxis Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. National Association shall also resign (and shall be entitled xxxxxled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc4)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master ServicerSxxxxxxx's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee, the Securities Administrator and the Depositor. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide (written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Wxxxx Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Wxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-4)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is ox xx removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Xxxxxities Administrator under this Agreement.

Appears in 1 contract

Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2006-7)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. The termination or the resignation of Wells Fargo Bank, N.A. as the Master Servicer or the Securities Adminisxxxxxr will not affect its status as the Custodian. If at any time, Wells Fargo Bank, N.A., as Master Servicer, resigns under this Section 0.00, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixx) xs Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2007-Aa5)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.National Association, as Master Servicer, resigns under this undxx xxis Section 0.009.09, or is removed as Master Servicer pursuant Servxxxx xxxsuant to Section 9.04, then at such time Wells Fargo Bank, N.A. National Association shall also resign (and shall be entitled xxxxxled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2005-He3)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least 15 calendar days prior to the effective date of such resignation, the Master Servicer shall provide (written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is xx xx removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Xxxxrities Administrator under this Agreement.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2006-2)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer 109 permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or xx is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities xx Xxcurities Administrator under this Agreement.

Appears in 1 contract

Samples: Servicing Agreement (GSAA Home Equity Trust 2007-3)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master Servicer, resigns under this Section 0.009.11, or is removed as Master Servicer pursuant to Section 9.049.06, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Servicer and Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-Wmc1)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the [Delaware] Trustee. No such resignation shall become effective until the [Delaware] Trustee shall have assumed, or a successor master servicer satisfactory to the [Delaware] Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the [Delaware] Trustee. [If at any time, Wells Fargo Bank, N.A.[ ], as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. [ ] shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.]

Appears in 1 contract

Samples: Distribution Instructions (Gs Mortgage Securities Corp)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. If at any time, Wells Fargo Bank, N.A.Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed xx xxmoved as Master Servicer pursuant to Section 9.04, then at such time Wells Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs Securities as Sexxxxxies Administrator under this Agreement.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2005-15)

Resignation of the Master Servicer. Except as otherwise provided in Sections 9.08 and 9.10 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer's ’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master servicer satisfactory to the Trustee and the Depositor shall have assumed, the Master Servicer's ’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee. At least fifteen (15) calendar days prior to the effective date of such resignation, the Master Servicer shall provide written notice to the Depositor of any successor pursuant to this Section. If at any time, Wells Fargo Bank, N.A.Xxxxx Fargo, as Master Servicer, resigns under this Section 0.009.09, or is removed as Master Servicer pursuant to Section 9.04, then at such time Wells Xxxxx Fargo Bank, N.A. shall also resign (and shall be entitled to resixxresign) xs as Securities Administrator under this Agreement.

Appears in 1 contract

Samples: Servicing Agreement (GSAA Home Equity Trust 2007-4)

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