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

Merger or Consolidation of, or Assumption of the Obligations of the Subservicer. Any entity into which the Subservicer may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole or any entity resulting from any merger, sale, transfer, conversion or consolidation to which the Subservicer shall be a party, or any entity succeeding to the business of the Subservicer and which executes an agreement of assumption to perform every obligation of the Subservicer under this Agreement, shall be the successor to the Subservicer under this Agreement and each Program Portfolio Schedule, in each case, without the execution or filing of any paper or any further act on the part of any of the Parties hereto, anything herein to the contrary notwithstanding.