Common use of Appointment of the Successor Servicer Clause in Contracts

Appointment of the Successor Servicer. In connection with the termination of Master Servicer’s responsibilities or the resignation by Master Servicer under this Transfer Agreement pursuant to Section 9.02 or 11.01, the Administrative Agent shall (a) succeed to and assume all of Master Servicer’s responsibilities, rights, duties and obligations as Master Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master Servicer set forth in Section 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers that shall be acceptable to the Administrative Agent and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “Successor Servicer”); provided that the Successor Servicer shall have no responsibility for any actions of any Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent an instrument in form and substance acceptable to the Administrative Agent.

Appointment of the Successor Servicer. In connection with the termination of Master a Servicer’s 's responsibilities or the resignation by Master a Servicer under this Transfer Agreement pursuant to Section Sections 9.02 or 11.01, the Administrative Agent shall (a) succeed to and assume all of Master the applicable Servicer’s 's responsibilities, rights, duties and obligations as Master a Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master any Servicer set forth in Section 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), 4.02) and (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers the applicable Servicer that shall be acceptable to the Administrative Agent and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such the applicable Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “"Successor Servicer”"); provided that the Successor Servicer shall have no responsibility for any actions of any the applicable Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent an instrument in form and substance acceptable to the Administrative Agent.

Appointment of the Successor Servicer. In connection with the termination of Master the Servicer’s responsibilities or the resignation by Master the Servicer under this Transfer Agreement pursuant to Section Sections 9.02 or 11.01, the Administrative Agent shall (a) shall succeed to and assume all of Master the Servicer’s responsibilities, rights, duties and obligations as Master Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master the Servicer set forth in Section 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), 4.02) and (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers the Servicer that shall be acceptable to the Administrative Agent and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such the Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “Successor Servicer”); provided provided, that the Successor Servicer shall have no responsibility for any actions of any the Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent and the Purchaser Agents an instrument in form and substance acceptable to the Administrative Agent.

Appointment of the Successor Servicer. In connection with the termination of Master the Servicer’s 's responsibilities or the resignation by Master the Servicer under this Transfer Agreement pursuant to Section Sections 9.02 or 11.01, the Administrative Agent shall (a) succeed to and assume all of Master the Servicer’s 's responsibilities, rights, duties and obligations as Master Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master the Servicer set forth in Section 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), 4.02) and (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers the Servicer that shall be acceptable to the Administrative Agent Agent, that shall have satisfied the Rating Agency Condition in respect thereof and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such the Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “"Successor Servicer”"); provided provided, that the Successor Servicer shall have no responsibility for any actions of any the Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent an instrument in form and substance acceptable to the Administrative Agent.

Appointment of the Successor Servicer. In connection with the termination of Master the Servicer’s 's responsibilities or the resignation by Master the Servicer under this Transfer Agreement pursuant to Section SECTIONS 9.02 or 11.01, the Administrative Agent shall (a) succeed to and assume all of Master the Servicer’s 's responsibilities, rights, duties and obligations as Master Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master the Servicer set forth in Section SECTION 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), SECTION 4.02) and (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers the Servicer that shall be acceptable to the Administrative Agent Agent, that shall have satisfied the Rating Agency Condition in respect thereof and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such the Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “Successor "SUCCESSOR Servicer”"); provided PROVIDED, that the Successor Servicer shall have no responsibility for any actions of any the Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent an instrument in form and substance acceptable to the Administrative Agent.

Appointment of the Successor Servicer. In connection with the termination of Master the Servicer’s responsibilities or the resignation by Master the Servicer under this Transfer Agreement pursuant to Section Sections 9.02 or 11.01, the Administrative Agent shall (a) succeed to and assume all of Master the Servicer’s responsibilities, rights, duties and obligations as Master Servicer (but not in any other capacity, it being specifically understood that the Administrative Agent shall not assume any of the obligations of Master the Servicer set forth in Section 12.02) under this Transfer Agreement (and except that the Administrative Agent makes no representations and warranties pursuant to Section 7.06), 4.02) and (b) may terminate any Sub-Servicer, and (c) may at any time appoint a successor servicer to any or all Servicers the Servicer that shall be acceptable to the Administrative Agent and shall succeed to all rights and assume all of the responsibilities, duties and liabilities of such the Servicer or all Servicers under this Transfer Agreement (the Administrative Agent, in such capacity, or such successor servicer being referred to as the “Successor Servicer”); provided provided, that the Successor Servicer shall have no responsibility for any actions of any the Servicer prior to the date of its appointment or assumption of duties as Successor Servicer. In selecting a Successor Servicer, the Administrative Agent may obtain bids from any potential Successor Servicer and may agree to any bid it deems appropriate. The Successor Servicer shall accept its appointment by executing, acknowledging and delivering to the Administrative Agent an instrument in form and substance acceptable to the Administrative Agent.