Assignment by Servicer. 76 Section 7.07 Successor to the Servicer............................................................. 76
Assignment by Servicer. Notwithstanding any provision to the contrary in this Agreement without the consent of the Trustee or any Certificateholder, the Servicer may, with the consent of the Insurer (provided that if an Insurer Default has occurred and is continuing, no consent of the Insurer needs to be obtained), which consent shall not be unreasonably withheld, assign its rights and delegate its duties and obligations under this Agreement; provided that the Person shall execute and -------- deliver to the Trustee an agreement, in form and substance reasonably satisfactory to the Trustee, which contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be performed or observed by the Servicer under this Agreement; and further provided ------- -------- that each Rating Agency's rating of any Class of the Certificates in effect immediately prior to such assignment and delegation will not be withdrawn or reduced as a result of such assignment and delegation, as evidenced by a letter from each Rating Agency. In the case of any such assignment and delegation, the Servicer shall be released from its obligations under this Agreement, except that the Servicer shall remain liable for all liabilities and obligations incurred by it as Servicer hereunder prior to the satisfaction of the conditions to such assignment and in delegation.
Assignment by Servicer. The Servicer may, with the prior written consent of Vanderbilt, assign its rights and delegate its duties and obligations under this Agreement; provided that the Person accepting such assignment or delegation shall be a Person which executes and delivers to Vanderbilt and the Trustee an agreement, in form and substance reasonably satisfactory to Vanderbilt and the Trustee, which contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be performed or observed by the Servicer under this Agreement; provided further that the Rating Agencies' rating of the Class A Certificates, Class M-1 Certificates and Class B Certificates in effect immediately prior to such assignment and delegation will not be withdrawn or reduced as a result of such assignment and delegation, as evidenced by a letter addressed to the Servicer and the Trustee from the Rating Agencies. In the case of any such assignment and delegation, the Servicer shall be released from its obligations under this Agreement, except that the Servicer shall remain liable for all liabilities and obligations incurred by it as Servicer hereunder prior to the satisfaction of the conditions to such assignment and delegation set forth in the next preceding sentence.
Assignment by Servicer. The Servicer may, with the prior written consent of the Company, assign its rights and delegate its duties and obligations under this Agreement; provided that the Person accepting such assignment or delegation shall be a Person which is satisfactory to the Trustee, in its sole judgment, and executes and delivers to the Company and the Trustee an agreement, in form and substance reasonably satisfactory to the Company and the Trustee, which contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be performed or observed by the Servicer under this Agreement; provided further that the Rating Agencys' rating of the Group I or Group II Certificates in effect immediately prior to such assignment and delegation will not be withdrawn or reduced as a result of such assignment and delegation, as evidenced by a letter from the Rating Agencies. In the case of any such assignment and delegation, the Servicer shall be released from its obligations under this Agreement, except that the Servicer shall remain liable for all liabilities and obligations incurred by it as Servicer hereunder prior to the satisfaction of the conditions to such assignment and delegation set forth in the next preceding sentence.
Assignment by Servicer. The Servicer shall not pledge or assign this Agreement or its rights to the Servicing Fee or transfer the servicing hereunder or delegate its rights or duties hereunder without the prior written approval of Owner.
Assignment by Servicer. Except as provided in Section 3.01(e), none of the rights or obligations of the Servicer hereunder may be assigned, transferred, encumbered, or sold, whether voluntarily or by operation of law, without the prior written consent of the Global Requisite Majority.
Assignment by Servicer. None of the rights or obligations of the Servicer hereunder may be assigned without the prior written consent of the Issuer and the Indenture Trustee (acting upon the instructions of a Global Requisite Majority of Noteholders; provided that nothing herein shall preclude the Servicer from performing its duties hereunder through the use of agents to the extent that such use is consistent with the Servicer’s business practices in dealing with similar assets held for its own account; and provided, further, that the use of an agent shall not relieve the Servicer from any of its obligations hereunder.
Assignment by Servicer. None of the respective rights or obligations of the Servicer hereunder may be assigned without the prior written consent of the Issuer and the Trustee (acting upon the instructions of the Holders of 66-2/3% of the then aggregate unpaid Outstanding Principal Amount of the Notes); provided, that nothing herein shall preclude the Servicer from performing its duties hereunder through the use of subservicers or agents to the extent that such use is consistent with the Servicer's business practices in dealing with leases and equipment for its own account, so long as the Servicer remains responsible for the actions of any subservicer.
Assignment by Servicer. Servicer may not delegate or subcontract the performance of its duties and obligations under this Uniform Reporting Supplement. Should the Servicer merge, acquire or become associated with another lending institution, written permission to act as a Servicer from the Division must be obtained at least fifteen (15) days prior to the merger, acquisition or association.
Assignment by Servicer. 25 ARTICLE 10. NATURE OF OBLIGATIONS AND SECURITY THEREFOR.......................25
