Common use of Limitation on Assignment by the Servicer Clause in Contracts

Limitation on Assignment by the Servicer. The Owner has entered into this Agreement with the Servicer and subsequent Owners will purchase the Mortgage Loans in reliance upon the independent status of the Servicer, and the representations as to the adequacy of its servicing facilities, personnel, records and procedures, its integrity, reputation and financial standing, and the continuance thereof. Therefore, except as allowed or permitted by Section 7.2 of this Agreement, the Servicer shall neither assign this Agreement or the servicing hereunder without the prior written consent of the Owner, which consent may be given or withheld in the sole discretion of the Owner.

Limitation on Assignment by the Servicer. The Owner has entered into this Agreement with the Servicer and subsequent Owners will purchase the Mortgage Loans in reliance upon the independent status of the Servicer, and the representations as to the adequacy of its servicing facilities, personnel, records and procedures, its integrity, reputation and financial standing, and the continuance thereof. Therefore, except as allowed or permitted by Section 7.2 of this Agreement, the Servicer shall neither assign this Agreement or the servicing hereunder without the prior written consent of the Owner, which consent may shall not be given unreasonably withheld or withheld in the sole discretion of the Ownerdelayed.