MERGER OR CONSOLIDATION OF THE MASTER SERVICERS. (a) Each Master Servicer will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and will 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, the Certificates or any of the Mortgage Loans and to perform its duties under this Agreement. (b) Any Person into which either Master Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which either Master Servicer shall be a party, or any Person succeeding to the business of either Master Servicer, shall be the successor of such Master Servicer hereunder, without the execution or filing of any paper or further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
MERGER OR CONSOLIDATION OF THE MASTER SERVICERS. (a) Each Master Servicer will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and will 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, the Certificates or any of the Mortgage Loans and to perform its duties under this Agreement.
(b) Any Person into which either Master Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which either Master Servicer shall be a party, or any Person succeeding to the business of either Master Servicer, shall be the successor of such Master Servicer hereunder, without the execution or filing of any paper or further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Securities Inc), Pooling and Servicing Agreement (Bear Stearns Mortgage Securities Inc)
