Common use of Merger or Consolidation of, or Assumption of, Obligations of Back-up Servicer Clause in Contracts

Merger or Consolidation of, or Assumption of, Obligations of Back-up Servicer. Any Person (a) into which the Back-up Servicer may be merged or consolidated, (b) resulting from any merger or consolidation to which the Back-up Servicer will be a party, (c) which acquires by conveyance, transfer or lease substantially all of the assets of the Back-up Servicer, or (d) succeeding to the business of the Back-up Servicer, which Person in any of the foregoing cases is an Eligible Servicer and executes an agreement of assumption to perform every obligation of the Back-up Servicer under this Agreement and will be the successor to the Back-up Servicer under this Agreement without the execution or filing of any document or any further act on the part of any of the parties to this Agreement; provided, however, that nothing contained in this Agreement will be deemed to release the Back-up Servicer from any obligation.

Merger or Consolidation of, or Assumption of, Obligations of Back-up Servicer. Any Person (ai) into which the Back-up Servicer may be merged or consolidated, (bii) resulting from any merger or consolidation to which the Back-up Servicer will be a party, (ciii) which acquires by conveyance, transfer or lease substantially all of the assets of the Back-up Servicer, or (div) succeeding to the business of the Back-up Servicer, which Person in any of the foregoing cases is an Eligible Servicer under the Servicing Agreements and executes an agreement of assumption to perform every obligation of the Back-up Servicer under this Agreement and and, whether or not such assumption agreement is executed, will be the successor to the Back-up Servicer under this Agreement without the execution or filing of any document paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained in this Agreement herein will be deemed to release the Back-up Servicer from any obligation.

Merger or Consolidation of, or Assumption of, Obligations of Back-up Servicer. Any Person (ai) into which the Back-up Servicer may be merged or consolidated, (bii) resulting from any merger or consolidation to which the Back-up Servicer will be a party, (ciii) which acquires by conveyance, transfer or lease substantially all of the assets of the Back-up Servicer, or (div) succeeding to the business of the Back-up Servicer, which Person in any of the foregoing cases is an Eligible Servicer and executes an agreement of assumption to perform every obligation of the Back-up Servicer under this Agreement and and, whether or not such assumption agreement is executed, will be the successor to the Back-up Servicer under this Agreement without the execution or filing of any document paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained in this Agreement herein will be deemed to release the Back-up Servicer from any obligation.