Common use of Designation of a Master Servicer Clause in Contracts

Designation of a Master Servicer. (a) Notwithstanding anything to the contrary contained in this Agreement, the Purchaser shall have the right, in its sole discretion, upon written notice to Countrywide ten (10) days prior to the first day of the month in which the first monthly Remittance Date following the transfer of the Mortgage Loans pursuant to a Whole Loan Transfer or Securitization Transfer is to occur, as applicable, to appoint and designate a master servicer (“Master Servicer”), as master servicer of such Mortgage Loans. Upon receipt of written notice of such appointment, Countrywide may enter into a servicing agreement (“Master Servicing Agreement”) to service the Mortgage Loans for the Master Servicer in accordance with the Master Servicer’s requirements as set forth in the Master Servicer’s servicing guide; provided, however, that Countrywide shall be under no obligation to enter into any Master Servicing Agreement unless the obligations and duties of Countrywide as a subservicer thereunder (i) are not materially different from those set forth herein, (ii) do not cause undue burden on Countrywide, (iii) do not expand in any material respect any of the obligations, duties or liabilities of Countrywide hereunder and (iv) will not result in any increased cost to Countrywide. If Countrywide and the Master Servicer enter into a Master Servicing Agreement, Countrywide shall service the Mortgage Loans, and remit and report to the Master Servicer, in accordance with the terms of the Master Servicing Agreement and, to the extent inconsistent therewith, the servicing provisions set forth in this Agreement shall be superseded by the Master Servicing Agreement. If Countrywide and the Master Servicer do not enter into a Master Servicing Agreement, Countrywide shall service the Mortgage Loans, and remit and report to the Master Servicer, in accordance with the terms of this Agreement.