Common use of Assignment by Owner Clause in Contracts

Assignment by Owner. The Owner shall have the right, without the consent of Servicer hereof, to assign, in whole or in part, its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Owner hereunder, and the assignee or designee shall accede to the rights and obligations hereunder of the Owner with respect to such Mortgage Loans. All references to the Owner in this Agreement shall be deemed to include its assignee or designee to the extent of such assignment. Except as otherwise expressly provided herein, this Agreement shall not be assigned, pledged or hypothecated by Servicer to a third party without the consent of the Owner. This Agreement shall bind and inure to the benefit of and be enforceable by Servicer and the Owner and the respective permitted successors and assigns of Servicer and the successors and assigns of the Owner.