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

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation or convey, transfer or sell its properties and assets substantially as an entirety to any Person unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 8 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

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Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation entity or convey, convey or transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation entity formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, conveyance or transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, a corporation an entity organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation entity shall expressly assume, by an agreement supplemental hereto, executed and delivered to the TrusteeTrustee and the Transferor, in form satisfactory to the TrusteeTrustee and the Transferor, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust)

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation Person or convey, transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which that acquires by conveyance, transfer or sale the properties and assets of the Servicer substantially as an entirety shall beis, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assumeassumes, by an agreement supplemental hereto, executed and delivered to the TrusteeIssuer and the Transferor, in form satisfactory to the TrusteeIssuer, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 5 contracts

Samples: Omnibus Amendment (Domus Holdings Corp), Transfer and Servicing Agreement (Cendant Corp), Omnibus Amendment (NRT Settlement Services of Missouri LLC)

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation or convey, convey or transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, conveyance or transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, Columbia and, if the Servicer is not the surviving entity, such corporation shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Nextcard Inc), Pooling and Servicing Agreement (Travelers Bank Credit Card Master Trust I), Pooling and Servicing Agreement (Travelers Bank Credit Card Master Trust I)

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation Person or convey, transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which that acquires by conveyance, transfer or sale the properties and assets of the Servicer substantially as an entirety shall beis, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assumeassumes, by an agreement supplemental hereto, executed and delivered to the TrusteeIssuer, in form satisfactory to the TrusteeIssuer, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 3 contracts

Samples: Servicing Agreement, Servicing Agreement (NRT Settlement Services of Missouri LLC), Servicing Agreement (Realogy Corp)

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Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation or convey, transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Household Affinity Funding Corp), Pooling and Servicing Agreement (At&t Universal Funding Corp)

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation or convey, convey or transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, conveyance or transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, a corporation organized and existing under the laws of the United States of America or any State state or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the performance of every covenant and obligation of the Servicer hereunder;

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Target Corp), Pooling and Servicing Agreement (Target Receivables Corp)

Merger or Consolidation of, or Assumption of the Obligations of the Servicer. The Servicer shall not consolidate with or merge into any other corporation or convey, convey or transfer or sell its properties and assets substantially as an entirety to any Person Person, unless: (a) (i) the corporation formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance, conveyance or transfer or sale the properties and assets of the Servicer substantially as an entirety shall be, if the Servicer is not the surviving entity, be a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and, if the Servicer is not the surviving entity, such corporation shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the performance of every covenant and obligation of the Servicer hereunder;,

Appears in 1 contract

Samples: Base Indenture (Team Rental Group Inc)

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