Common use of Merger or Consolidation of the Depositor or a Servicer Clause in Contracts

Merger or Consolidation of the Depositor or a Servicer. (a) The Depositor and each of the Servicers will each keep in full effect its existence, rights and franchises as a corporation or federally chartered savings bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. (b) Each of the Servicers is and shall continue to be an institution which is a Fannie Mae-approved and Freddie Mac-approved seller/servicer in good stxxxxxx, shall maintain a xxx xxrth of at least $30,000,000 (as determined in accordance with generally accepted accounting principles) and shall maintain any licenses necessary to service residential mortgage loans in the jurisdictions in which the Mortgaged Properties related to the Mortgage Loans that it is servicing are located. (c) Any Person into which the Depositor or a Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor or a Servicer shall be a party, or any person succeeding to the business of the Depositor or a Servicer, shall be the successor of the Depositor or such Servicer, as the case may be, hereunder, 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; provided, however, that the successor or surviving Person to such Servicer shall make the covenant set forth in Section 6.02(b).

Merger or Consolidation of the Depositor or a Servicer. (a) The Depositor and each of the Servicers will each keep in full effect its existence, rights and franchises as a corporation or federally chartered savings bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. (b) Each of the Servicers is and shall continue to be an institution which is a Fannie Mae-approved and Freddie Mac-approved seller/servicer in good stxxxxxxstaxxxxx, shall maintain a xxx xxrth xxxth of at least $30,000,000 (as determined in accordance with generally accepted accounting principles) and shall maintain any licenses necessary for such Servicer to service residential mortgage loans in the jurisdictions in which the Mortgaged Properties related to the Mortgage Loans that it is servicing are located. (c) Any Person into which the Depositor or a Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor or a Servicer shall be a party, or any person succeeding to the business of the Depositor or a Servicer, shall be the successor of the Depositor or such Servicer, as the case may be, hereunder, 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; provided, however, that the successor or surviving Person to such Servicer shall make the covenant set forth in Section 6.02(b).

Merger or Consolidation of the Depositor or a Servicer. (a) The Depositor and each of the Servicers Servicer will each keep in full effect its existence, rights and franchises as a corporation corporation, limited liability company, limited partnership or federally chartered savings bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. (b) Each of the Servicers Servicer is and shall continue to be an institution which is a Fannie Mae-approved and Freddie Mac-approved seller/servicer in good stxxxxxx, shall xxall maintain a xxx xxrth of at least $30,000,000 (as determined in accordance with generally accepted accounting principles) and shall maintain any licenses necessary its license to do business or service residential mortgage loans in the any jurisdictions in which the Mortgaged Properties related to the Mortgage Loans that it is servicing are located. (c) Any Person into which the Depositor or a Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor or a Servicer shall be a party, or any person succeeding to the business of the Depositor or a Servicer, shall be the successor of the Depositor or such Servicer, as the case may be, hereunder, 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; provided, however, that the successor or surviving Person to such Servicer shall make the covenant set forth in Section 6.02(b).

Merger or Consolidation of the Depositor or a Servicer. (a) The Depositor and each of the Servicers will each keep in full effect its existence, rights and franchises as a corporation or federally chartered savings bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. (b) Each of the Servicers is and shall continue to be an institution which is a Fannie Mae-approved and Freddie Mac-approved seller/servicer in good stxxxxxx, shall maintain a xxx xxrth of at least $30,000,000 (as determined in accordance with generally accepted accounting principles) and shall maintain any licenses necessary for such Servicer to service residential mortgage loans in the jurisdictions in which the Mortgaged Properties related to the Mortgage Loans that it is servicing are located. (c) Any Person into which the Depositor or a Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor or a Servicer shall be a party, or any person succeeding to the business of the Depositor or a Servicer, shall be the successor of the Depositor or such Servicer, as the case may be, hereunder, 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; provided, however, that the successor or surviving Person to such Servicer shall make the covenant set forth in Section 6.02(b).