Common use of Merger or Consolidation of Servicer Clause in Contracts

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunder, shall be the successor to the 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. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture Trustee, the Seller and the Rating Agencies in writing of any such merger or consolidation.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound executes an agreement of assumption to perform every obligation of the Servicer hereunder, or (iv) in which 50% or more of the equity of which is owned, directly or indirectly by the Servicer shall be the successor to the 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. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture Trustee, the Seller Depositor and the Rating Agencies in writing of any such merger or consolidation.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound executes an agreement of assumption to perform every obligation of the Servicer hereunder, shall be the successor to the Servicer under this the Agreement without the execution or filing of any document or any further act on the part of any of the parties to this the Agreement. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture Trustee, the Seller and the Rating Agencies in writing of any such merger or consolidation.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunder, shall be the successor to the 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. The Servicer shall promptly inform give prompt written notice of any merger or consolidation to the Issuer, the Owner Trustee, the Indenture Trustee, the Seller Depositor and the Rating Agencies in writing of any such merger or consolidationAgencies.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunder, shall be the successor to the 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. The Servicer shall promptly inform give prompt written notice of any merger or consolidation to the Issuer, the Owner Trustee, the Indenture Trustee, the Seller and the Rating Agencies in writing of any such merger or consolidationAgencies.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of 45 the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunder, shall be the successor to the 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. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture Trustee, the Seller and the Rating Agencies in writing of any such merger or consolidation.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or or-consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunder, shall be the successor to the 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. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture TrusteeSeller, the Seller Collateral Agent and the Rating Agencies in writing of any such merger or consolidation.

Merger or Consolidation of Servicer. Any corporation or other entity (i) into which the Servicer may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which the Servicer shall be a party, or (iii) which may succeed to all or substantially all of the business of the Servicer, which corporation or other entity shall be bound to perform every obligation of the Servicer hereunderhere- under, shall be the successor to the 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. The Servicer shall promptly inform the Issuer, the Owner Trustee, the Indenture TrusteeSeller, the Seller Collateral Agent and the Rating Agencies in writing of any such merger or consolidation.