Common use of Appointment of the Successor Servicer Clause in Contracts

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3” by Moody’s. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3” by Moody’s. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3” by Moody’sXxxxx’x. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3A” by Moody’s. S&P. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) 30 days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “BBB-” by S&P and “Baa3” by Moody’s. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s 's responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) 30 days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “"BBB-" by S&P and "Baa3” " by Moody’s's. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “"Successor Servicer”"); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3” by Moody’sMxxxx’x. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “Baa3BBB-” by Moody’s. S&P. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s 's responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) 30 days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least “["BBB-"] by S&P and ["Baa3” "] by Moody’s's. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “"Successor Servicer”"); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least [“Baa3” by Moody’sMxxxx’x]. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.

Appointment of the Successor Servicer. In connection with the termination of the Servicer’s responsibilities under this Agreement pursuant to Section 5.1 or 6.1, the Issuer shall within thirty (30) days after the giving of a Servicer Termination Notice pursuant to Section 5.1 or as soon as practicable after a resignation of the Servicer pursuant to Section 6.1, appoint a successor servicer that shall have a long-term debt rating of at least [“Baa3” by Moody’sMoxxx’x]. The successor servicer shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Servicer under this Agreement (such successor servicer being referred to as the “Successor Servicer”); provided, that the Successor Servicer shall have no responsibility for any actions of the Servicer prior to the date of its appointment as Successor Servicer. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Issuer instruments an instrument in form and substance acceptable to the Issuer, and if directed by the Issuer, by providing prior written notice of such appointment to the Indenture Trustee. Notice shall be given to the Rating Agencies of the appointment of any Successor Servicer.