Common use of Assumption or Termination of Subservicing Agreements Clause in Contracts

Assumption or Termination of Subservicing Agreements. In the event that Servicer or its successors shall for any reason cease to be the Servicer of the Mortgage Loans under this Agreement, Owner or its designee may, if Servicer does not terminate any Subservicing Agreement in accordance with its terms, thereupon assume all of the rights and obligations of Servicer under such Subservicing Agreement. Upon such assumption, Owner or its designee shall be deemed to have assumed all of Servicer’s interest therein and to have replaced Servicer as a party to each Subservicing Agreement to the same extent as if the Subservicing Agreements had been assigned to the assuming party, except that Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, and Servicer shall continue to be entitled to any rights or benefits, in each case, which arose prior to its termination as servicer. Servicer at its expense shall, upon the request of Owner, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable efforts to effect the orderly and efficient transfer of the Subservicing Agreements to the assuming party.

Assumption or Termination of Subservicing Agreements. In the event that Servicer or its successors shall for any reason cease to be the Servicer servicer of the Mortgage Loans under this Agreement, Owner or its designee may, if Servicer does not terminate any Subservicing Agreement in accordance with its terms, thereupon assume all of the rights and obligations of Servicer under such Subservicing Agreement. Upon such assumption, Owner or its designee shall be deemed to have assumed all of Servicer’s interest therein and to have replaced Servicer as a party to each Subservicing Agreement to the same extent as if the Subservicing Agreements had been assigned to the assuming party, except that Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, Agreements and Servicer shall continue to be entitled to any rights or benefits, in each case, which arose prior to its termination as servicer. The Servicer at its expense shall, upon the request of Owner, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable efforts to effect the orderly and efficient transfer of the Subservicing Agreements to the assuming party.

Assumption or Termination of Subservicing Agreements. In the event that Servicer or its successors shall for any reason cease to be the Servicer of the Mortgage Loans under this Agreement, Owner or its designee may, if Servicer does not terminate any Subservicing Agreement in accordance with its terms, thereupon assume all of the rights and obligations of Servicer under such Subservicing Agreement. Upon such assumption, Owner or its designee shall be deemed to have assumed all of Servicer’s 's interest therein and to have replaced Servicer as a party to each Subservicing Agreement to the same extent as if the Subservicing Agreements had been assigned to the assuming party, except that Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, and Servicer shall continue to be entitled to any rights or benefits, in each case, which arose prior to its termination as servicer. Servicer at its expense shall, upon the request of Owner, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable efforts to effect the orderly and efficient transfer of the Subservicing Agreements to the assuming party.

Assumption or Termination of Subservicing Agreements. In the event that Servicer or its successors MLCC shall for any reason cease to no longer be the Servicer of Company, the Mortgage Loans under this Agreement, Owner or its designee may, if Servicer the Company does not terminate any Subservicing Agreement in accordance with its terms, thereupon assume all of the rights and obligations of Servicer the Company under such Subservicing Agreement. Upon such assumption, the Owner or its designee shall be deemed to have assumed all of Servicer’s the Company's interest therein and to have replaced Servicer the Company as a party to each Subservicing Agreement to the same extent as if the Subservicing Agreements had been assigned to the assuming party, except that Servicer the Company shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, and Servicer the Company shall continue to be entitled to any rights or benefits, in each case, benefits which arose prior to its termination as servicer. Servicer The Company at its expense shall, upon the request of the Owner, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable its best efforts to effect the orderly and efficient transfer of the Subservicing Agreements to the assuming party.

Assumption or Termination of Subservicing Agreements. In the event that Servicer or its successors shall for any reason cease to be the Servicer servicer of the Mortgage Loans under this Agreement, Owner or its designee may, if Servicer does not terminate any Subservicing Agreement in accordance with its terms, thereupon assume all of the rights and obligations of Servicer under such Subservicing Agreement. Upon such assumption, Owner or its designee shall be deemed to have assumed all of Servicer’s 's interest therein and to have replaced Servicer as a party to each Subservicing Agreement to the same extent as if the Subservicing Agreements had been assigned to the assuming party, except that Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, Agreements and Servicer shall continue to be entitled to any rights or benefits, in each case, which arose prior to its termination as servicer. The Servicer at its expense shall, upon the request of Owner, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable efforts to effect the orderly and efficient transfer of the Subservicing Agreements to the assuming party.

Assumption or Termination of Subservicing Agreements. (a) In the event that the Master Servicer or its successors shall for any reason cease to no longer be the Servicer master servicer (including by reason of an Event of Default), the Mortgage Loans under this AgreementTrustee, Owner its designee or its designee may, if Servicer does not terminate any Subservicing Agreement in accordance with its terms, successor shall thereupon assume all of the rights and obligations of the Master Servicer under such each Subservicing AgreementAgreement that may have been entered into. Upon such assumptionThe Trustee, Owner or its designee or the successor servicer for the Trustee shall be deemed to have assumed all of the Master Servicer’s 's interest therein and to have replaced the Master Servicer as a party to each the Subservicing Agreement to the same extent as if the Subservicing Agreements Agreement had been assigned to the assuming party, party except that the Master Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreements, and Agreement. (b) The Master Servicer shall continue to be entitled to any rights or benefits, in each case, which arose prior to its termination as servicer. Servicer at its expense shall, upon the request of Ownerthe Trustee but at the expense of the Master Servicer, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use reasonable its best efforts to effect the orderly and efficient transfer of the each Subservicing Agreements Agreement to the assuming party.