Common use of Servicing Rights Pledge Clause in Contracts

Servicing Rights Pledge. Notwithstanding anything to the contrary which may be set forth in Section 6.04, the Securities Administrator, the Master Servicer, the Trustee, each Custodian and the Depositor hereby specifically (i) agree to the pledge and assignment by Litton of all Litton's right, title and interest in, to and under this Xxxxxxent to the Servicing Rights Pledgee, for the benefit of certain lenders, and (ii) provided that no Servicer Event of Default exists, agree that upon delivery to the Securities Administrator by the Servicing Rights Pledgee of a letter signed by Litton whereunder Litton shall resign as a Servicer under this Agreemenx, xxx Securities Xxxxxxstrator shall appoint the Servicing Rights Pledgee or its designee as successor Servicer, provided that at the time of such appointment, the Servicing Rights Pledgee or such designee meets the requirements of a successor Servicer pursuant to Section 7.02 and agrees to be subject to the terms of this Agreement. If, pursuant to any provision hereof, the duties of Litton are transferred to a successor, the entire amount of the Servicixx Xxx and other compensation payable to Litton pursuant hereto shall thereafter be payable to such successor.

Servicing Rights Pledge. Notwithstanding anything to the contrary which may be set forth in Section 6.04, the Securities Administrator, the Master Servicer, the Trustee, each Custodian Custodian, each Servicer and the Depositor hereby specifically (i) agree to the pledge and assignment by Litton of all Litton's right, title and interest in, to and under this Xxxxxxent to the Servicing Rights Pledgee, for the benefit of certain lenders, and (ii) provided that no Servicer Event of Default exists, agree that upon delivery to the Securities Administrator by the Servicing Rights Pledgee of a letter signed by Litton whereunder Litton shall resign as a Servicer under this Agreemenx, xxx Securities Xxxxxxstrator shall appoint the Servicing Rights Pledgee or its designee as successor Servicer, provided that at the time of such appointment, the Servicing Rights Pledgee or such designee meets the requirements of a successor Servicer pursuant to Section 7.02 and agrees to be subject to the terms of this Agreement. If, pursuant to any provision hereof, the duties of Litton are transferred to a successor, the entire amount of the Servicixx Xxx and other compensation payable to Litton pursuant hereto shall thereafter be payable to such successor.

Servicing Rights Pledge. Notwithstanding anything to the contrary which may be set forth in Section 6.04, the Securities Administrator, the Master Servicer, the [Delaware] Trustee, the Custodian, each Custodian Servicer and the Depositor hereby specifically (i) agree to the pledge and assignment by Litton such Servicer of all Litton's such Servicer’s right, title and interest in, to and under this Xxxxxxent Agreement to the Servicing Rights Pledgee, for the benefit of certain lenders, and (ii) provided that no Servicer Event of Default exists, agree that upon delivery to the Securities Administrator by the Servicing Rights Pledgee of a letter signed by Litton such Servicer whereunder Litton such Servicer shall resign as a Servicer under this AgreemenxAgreement, xxx the Securities Xxxxxxstrator Administrator shall appoint the Servicing Rights Pledgee or its designee as successor Servicer, provided that at the time of such appointment, the Servicing Rights Pledgee or such designee meets the requirements of a successor Servicer pursuant to Section 7.02 and agrees to be subject to the terms of this Agreement. If, pursuant to any provision hereof, the duties of Litton such Servicer are transferred to a successor, the entire amount of the Servicixx Xxx Servicing Fee and other compensation payable to Litton such Servicer pursuant hereto shall thereafter be payable to such successor.

Servicing Rights Pledge. Notwithstanding anything to the contrary which may be set forth in Section 6.04, the Securities Administrator, the Master Servicer, the Trustee, each Custodian and the Depositor hereby specifically (i) agree to the pledge and assignment by Litton the Servicer of all Littonthe Servicer's right, title and interest in, to and under this Xxxxxxent Agreement to the Servicing Rights Pledgee, for the benefit of certain lenders, and (ii) provided that no Servicer Event of Default exists, agree that upon delivery to the Securities Administrator Trustee by the Servicing Rights Pledgee of a letter signed by Litton the Servicer whereunder Litton the Servicer shall resign as a Servicer under this AgreemenxAgreement, xxx Securities Xxxxxxstrator the Trustee shall appoint the Servicing Rights Pledgee or its designee as successor Servicer, provided that at the time of such appointment, the Servicing Rights Pledgee or such designee meets the requirements of a successor Servicer pursuant to Section 7.02 and agrees to be subject to the terms of this Agreement. If, pursuant to any provision hereof, the duties of Litton the Servicer are transferred to a successor, the entire amount of the Servicixx Xxx Servicing Fee and other compensation payable to Litton the Servicer pursuant hereto shall thereafter be payable to such successor.

Servicing Rights Pledge. Notwithstanding anything to the contrary which may be set forth in Section 6.04, the Securities Administrator, the Master Servicer, the Trustee, each Custodian Custodian, each Servicer and the Depositor hereby specifically (i) agree to the pledge and assignment by Litton of all Litton's rightrighx, title xxxle and interest in, to and under this Xxxxxxent Agreement to the Servicing Rights Pledgee, for the benefit of certain lenders, and (ii) provided that no Servicer Event of Default exists, agree that upon delivery to the Securities Administrator by the Servicing Rights Pledgee of a letter signed by Litton whereunder Litton shall resign shxxx xxsign as a Servicer Sexxxxxx under this AgreemenxAgreement, xxx the Securities Xxxxxxstrator Administrator shall appoint the Servicing Rights Pledgee or its designee as successor Servicer, provided that at the time of such appointment, the Servicing Rights Pledgee or such designee meets the requirements of a successor Servicer pursuant to Section 7.02 and agrees to be subject to the terms of this Agreement. If, pursuant to any provision hereof, the duties of Litton are transferred to a successorxxxxxssor, the entire amount of the Servicixx Xxx Servicing Fee and other compensation payable to Litton pursuant hereto shall thereafter shalx xxxxeafter be payable to such successor.