Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person (i) into which the Seller may be merged or consolidated, (ii) resulting from any merger, conversion, or consolidation to which the Seller shall be a party, or (iii) succeeding to the business of the Seller, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, will be the successor to the Seller 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. The Seller shall provide notice of any merger, conversion, consolidation, or succession pursuant to this Section 5.3 to the Rating Agencies.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Usaa Federal Savings Bank), Sale and Servicing Agreement (Usaa Federal Savings Bank), Sale and Servicing Agreement (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1)
