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

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organization, 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, 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 the Servicer shall be qualified to service mortgage loans on behalf of FNMA or FHLMC.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationlimited liability company, and will shall obtain and preserve its qualification to do business as a foreign corporation entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation (or limited liability company) resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall shall, with the prior written consent of the Master Servicer be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf an institution (i) having a net worth of FNMA not less than $25,000,000, and (ii) which is a Xxxxxx Xxx or FHLMCXxxxxxx Mac-approved servicer in good standing.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationcorporation or a limited liability company, and will shall obtain and preserve its qualification to do business as a foreign corporation entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation or limited liability company resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf an institution (i) having a net worth of FNMA not less than $25,000,000, and (ii) which is a Fannie Mae or FHLMCFreddie Mac approved servicer in good standing.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationnational banking association, 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 Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation entity resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to substantially all of the business of the ServicerServicer (whether or not related to loan servicing), shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf of FNMA or FHLMCan institution which is a Xxxxxx Mae/Xxxxxxx Mac approved company in good standing.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organization, 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, 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 the Servicer shall be qualified to service mortgage loans on behalf of FNMA Xxxxxx Xxx or FHLMCXxxxxxx Mac.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organization, 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, 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 the Servicer shall be qualified to service mortgage loans on behalf of FNMA Xxxxxx Mae or FHLMCXxxxxxx Mac.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity an industrial loan company under the laws governing its organizationof the state of California except as permitted herein, and will obtain and preserve its qualification to do business as a foreign corporation limited partnership 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation Person resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified either (i) a Qualified Servicer or (ii) a Person consented to service mortgage loans on behalf by the Owner in its sole discretion, and in either case, shall assume in writing the obligations of FNMA or FHLMC"Servicer" under this Agreement.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full force and effect its existence, rights and franchises as a separate entity corporation under the laws governing of the state of its organizationincorporation except as permitted herein, and will shall 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 Agreement or any of the BANA Mortgage Loans HELOCs, and to enable the Servicer to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 shall be an institution whose deposits are insured by FDIC or a Servicer whose business is the origination and servicing of HELOCs and shall satisfy any requirements of Section 4.03 with respect to the Servicer shall be qualified qualifications of a successor to service mortgage loans on behalf of FNMA or FHLMCthe Servicer.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organization, 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, 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 the Servicer shall be qualified to service mortgage loans on behalf of FNMA Fannie Mae or FHLMCFreddie Mac.

Merger or Consolidation of the Servicer. The Servicer will each keep in full effect its existence, rights and franchises as a separate entity corporation under the laws governing of the state of its organizationincorporation except as permitted herein, 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 BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service an institution whose deposits are insured by FDIC or a company whose business includes the servicing of mortgage loans on behalf of FNMA or FHLMCand shall have a tangible net worth not less than $30,000,000.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationlimited liability company, and will shall obtain and preserve its qualification to do business as a foreign corporation entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation (or limited liability company) resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall shall, with the prior written consent of the Master Servicer be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf an institution (i) having a net worth of FNMA not less than $25,000,000, and (ii) which is a Xxxxxx Mae or FHLMCXxxxxxx Mac-approved servicer in good standing.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationcorporation (or a limited liability company), and will shall obtain and preserve its qualification to do business as a foreign corporation entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation (or limited liability company) resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf an institution (i) having a net worth of FNMA not less than $25,000,000, and (ii) which is a Xxxxxx Mae or FHLMCXxxxxxx Mac approved servicer in good standing.

Merger or Consolidation of the Servicer. The Servicer will each shall keep in full effect its existence, rights and franchises as a separate entity under the laws governing its organizationlimited liability company (or a corporation), and will shall obtain and preserve its qualification to do business as a foreign corporation entity in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates Agreement or any of the BANA Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation (or limited liability company) resulting from any merger merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall be the successor of the Servicer, Servicer 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 the Servicer shall be qualified to service mortgage loans on behalf an institution (i) having a net worth of FNMA not less than $25,000,000, and (ii) which is a Xxxxxx Mae or FHLMCXxxxxxx Mac approved servicer in good standing.