Common use of Merger or Consolidation of, or Assumption of the Obligations of, Closed-End Servicer Clause in Contracts

Merger or Consolidation of, or Assumption of the Obligations of, Closed-End Servicer. (a) The Closed-End Servicer shall keep in full effect its existence, rights and franchises as a Florida corporation and will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify would not have a material adverse effect on the condition, financial or otherwise, of the Closed-End Servicer and its subsidiaries considered as one enterprise, and in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of, or to permit the Closed-End Servicer to perform its obligations under, this Closed-End Servicing Agreement and each of the other Basic Documents.