Common use of Master Servicer Not to Resign Clause in Contracts

Master Servicer Not to Resign. Subject to the provisions of Section 6.5, Crestar Bank shall not resign from the obligations and duties imposed on it as Master Servicer under this Agreement except upon (i) determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or shall violate any final order of a court or administrative agency with jurisdiction over it or its properties, or (ii) satisfaction of a Rating Agency Condition with respect to such resignation. Notice of any such determination permitting resignation shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Master Servicer shall have assumed the responsibilities and obligations of Crestar Bank in accordance with Section 8.2.

Master Servicer Not to Resign. Subject to the provisions of Section 6.5, Crestar Bank Trans-World Insurance Company shall not resign from the obligations and duties imposed on it as Master Servicer under this Agreement except upon (i) determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or shall violate any final order of a court or administrative agency with jurisdiction over it or its properties, or (ii) satisfaction of a Rating Agency Condition with respect to such resignation. Notice of any such determination permitting resignation shall be communicated to the Eligible Lender Trustee, the Indenture Trustee and the Indenture Trustee Surety Provider at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee, the Indenture Trustee and the Indenture Trustee Surety Provider concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Master Servicer shall have assumed the responsibilities and obligations of Crestar Bank Trans-World Insurance Company in accordance with Section 8.2.

Master Servicer Not to Resign. Subject to the provisions of Section 6.58.5, Crestar Bank shall not resign from the obligations and duties imposed on it as Master Servicer under this the Transfer and Servicing Agreement except upon (i) determination that the performance of its duties under this the Transfer and Servicing Agreement shall no longer be permissible under applicable law or shall violate any final order of a court or administrative agency with jurisdiction over it or its properties, or (ii) satisfaction of a the Rating Agency Condition with respect to such resignation. Notice of any such determination permitting resignation shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Master Servicer shall have assumed the responsibilities and obligations of Crestar Bank as Master Servicer in accordance with Section 8.210.2.

Master Servicer Not to Resign. Subject to Except as permitted by Section 4.3 hereof, the provisions of Section 6.5, Crestar Bank Master Servicer shall not resign from the its obligations and duties imposed on it as Master Servicer under this Agreement except upon (i) upon determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law or shall violate any final order of a court or administrative agency with jurisdiction over it or its properties, or (ii) upon satisfaction of a the Rating Agency Condition with respect to such resignationCondition, in the event of the appointment of a successor Master Servicer. Notice of any such determination permitting the resignation of the Master Servicer shall be communicated to the Issuer, the Owner Trustee, the Eligible Lender Trustee Trustee, the Indenture Trustee, the Depositor, the Administrator and the Indenture Trustee Rating Agencies at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Issuer, the Indenture Trustee and the Indenture Owner Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Master Servicer shall have assumed the responsibilities and obligations of Crestar Bank the Master Servicer hereunder in accordance with Section 8.25.2 hereof.