Common use of Appointment of Successor Clause in Contracts

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after (i) the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.148.2, or upon (ii) the resignation of the Servicer pursuant to Section 8.67.5, or (iii) the receipt by the Backup Servicer (or any alternate successor servicer appointed by the Security Insurer pursuant to Section 8.3(b)) of written notice from the Security Insurer that the Security Insurer is not extending the Servicer's term pursuant to Section 3.14, the Backup Servicer (unless the Security Insurer shall have exercised its option pursuant to Section 9.3(b8.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated hereinAgreement. The Trust Collateral Agent Owner Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 8.2 upon the occurrence of any Servicer Termination Event applicable to it as ServicerServicer and shall serve from term to term as provided in Section 3.14.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 9.2 or upon the resignation of the Servicer pursuant to Section 8.6, 8.7; (i) the Backup Servicer (unless the Insurer Controlling Party shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor replacement Servicer) shall be the successor in all respects respects, except as expressly set forth in Annex A hereto, to the Servicer Servicer, in its capacity as servicer under this Agreement and the Insurance Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement or the Insurance Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor replacement Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after (i) the time the Servicer receives a notice of termination pursuant to Section 9.210.2, (ii) upon non-extension of the servicing term as referred to in Section 4.144.16, or (iii) upon the resignation of the Servicer pursuant to Section 8.69.6, the Backup Servicer (unless the Insurer an alternate successor Servicer shall have exercised its option been appointed pursuant to Section 9.3(b) to appoint an alternate successor Servicer10.4(b)) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 4.16 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.28.2, upon non-extension of the servicing term as referred to in Section 4.143.14, or upon the resignation of the Servicer pursuant to Section 8.67.5, the Backup Servicer (unless the Security Insurer shall have exercised its option pursuant to Section 9.3(b8.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent Issuer and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 3.14 and to termination under Section 9.2 8.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer Administrative Agent, at the direction of the Required Lending Groups or the Borrower with the consent of the Required Lending Groups, shall have exercised its option pursuant to Section 9.3(b9.3 (b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Administrative Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate effect any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 4.14 or upon the resignation of the Servicer pursuant to Section 8.6, ; (i) the Backup Servicer (unless the Insurer Controlling Party shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer Servicer, in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term to term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.210.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.69.6, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b10.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) (i) On and after the time the Servicer receives a notice of termination pursuant to Section 9.210.2, (ii) upon non-extension of the servicing term as referred to in Section 4.144.16, or (iii) upon the resignation of the Servicer pursuant to Section 8.69.6, the Backup Servicer (unless the Insurer an alternate successor Servicer shall have exercised its option been appointed pursuant to Section 9.3(b) to appoint an alternate successor Servicer10.4(b)) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein; provided, however, that the Backup Servicer shall not be required to be the successor servicer unless it shall have been provided with four weeks' advance notice of any of the events described in clauses (i), (ii) and (iii) above. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 4.16 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 3.19 or upon the resignation of the Servicer pursuant to Section 8.68.4, the Backup Servicer (unless the Insurer shall 80 have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer Servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement Agreement, except as otherwise stated herein; provided; however, that the Backup Servicer shall not be liable for any acts, omissions or obligations of the Servicer prior to such succession or for any breach by the Servicer of any of its representations and warranties contained in this Agreement or in any of its Related Documents. The Trust Collateral Agent Indenture Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 3.19 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after (i) the time the Servicer receives a notice of termination pursuant to Section 9.210.2, (ii) upon non-extension of the servicing term as referred to in Section 4.14, or (iii) upon the resignation of the Servicer pursuant to Section 8.69.5, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b10.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred 69 to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.68.7, the Backup Servicer (unless the Insurer Controlling Party shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects respects, except as expressly set forth in Annex A hereto, to the Servicer in its capacity as servicer Servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term to term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer Funding Agent, at the direction of the Required Banks or the Borrower with the consent of the Required Banks, shall have exercised its option pursuant to Section 9.3(b9.3 (b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Funding Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate effect any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after (i) the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 8.2 or (ii) upon the resignation of the Servicer pursuant to Section 8.67.5, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement; provided, however, that the Backup Servicer shall not be liable for any acts, omissions or obligations of the Servicer prior to such succession or for any breach by the Servicer of any of its representations and warranties contained in this Agreement except as otherwise stated hereinor in any of its Related Documents. The Trust Collateral Agent Trustee and such successor Servicer shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 8.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as 80 referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and Subject to Section 6.1(a), on or after (i) the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 6.1 (a) or upon 6.7 or (ii) the resignation of the Servicer pursuant to Section 8.66.1(c), the Backup Back-Up Servicer (unless or, upon the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate termination of the Back-Up Servicer, a successor Servicer) Servicer appointed by the Funding Agent shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement; PROVIDED HOWEVER, that any such successor Servicer shall not be liable for any acts, omissions or obligations of the Servicer prior to such succession or for any breach by the Servicer of any of its representations and warranties contained in this Agreement except as otherwise stated hereinor in any related document or agreement. The Trust Collateral Funding Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 6.7 upon the occurrence of any Servicer Termination Event applicable to it as ServicerServicer and under Section 6.1(a).

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred to in Section 4.14, 3.19 or upon the resignation of the Servicer pursuant to Section 8.68.4, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer Servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement Agreement, except as otherwise stated herein; provided; however, that the Backup Servicer shall not be liable for any acts, omissions or obligations of the Servicer prior to such succession or for any breach by the Servicer of any of its representations and warranties contained in this Agreement or in any of its Related Documents. The Trust Collateral Agent Indenture Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 3.19 and to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.210.2, upon non-non- extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.69.5, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b10.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

Appointment of Successor. (a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.210.2, upon non-extension of the servicing term as referred to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.69.5, the Backup Servicer (unless the Security Insurer shall have exercised its option pursuant to Section 9.3(b10.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 10.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.