Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 14 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Thornburg Mort Sec Trust 2003 6), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-4), Servicing Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporationlimited liability company, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP Trust 2006-2), Servicing Agreement (NYMT Securities CORP), Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp Asset Backed Pass-Through Certificates, 2005-5)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 3 contracts
Samples: Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Servicing Agreement (MASTR Asset Securitization Trust 2006-3), Servicing Agreement (MASTR Alternative Loan Trust 2006-1)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Freddie Mac-approved or Xxxxxx Fannie Mae-approved servicer in good standing.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Mortgage Investments Ii Inc), Servicing Agreement (Thornburg Mortgage Securities Trust 2007-1), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or the ability of the Servicer to perform its obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the ServicerServicer hereunder, shall, with the prior written consent of the Master Servicer, shall be the successor of the Servicer hereunder, hereunder without the execution or filing of any paper or any further act on the part of any either of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving Person shall be an institution (i) having that is qualified to service mortgage loans on behalf of Xxxxxx Mae or Xxxxxxx Mac and (ii) that has a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 2 contracts
Samples: Loan Servicing Agreement (Sequoia Mortgage Trust 2007-3), Loan Servicing Agreement (Sequoia Residential Funding Inc)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or the ability of the Servicer to perform its obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the ServicerServicer hereunder, shall, with the prior written consent of the Master Servicer, shall be the successor of the Servicer hereunder, hereunder without the execution or filing of any paper or any further act on the part of any either of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving Person shall be an institution (i) having that is qualified to service mortgage loans on behalf of Fxxxxx Mae or Fxxxxxx Mac and (ii) that has a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 2 contracts
Samples: Loan Servicing Agreement (Sequoia Mortgage Trust 2007-1), Loan Servicing Agreement (Sequoia Mortgage Trust 2007-2)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Fxxxxxx Mac-approved or Xxxxxx Fxxxxx Mae-approved servicer in good standing.
Appears in 2 contracts
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2004-2), Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Freddie Mac-approved or Xxxxxx Fannie Mae-approved servicer in good standingstandinx.
Appears in 2 contracts
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-2), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-6)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporationfranchises, and shall obtain and preserve its qualification to do business as a foreign entity 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 obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxx Xxx- and Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 2 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Securities Corp), Securitization Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporationlimited liability company, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxxx Fxxxxxx Mac-approved or Xxxxxx Fxxxxx Mae-approved servicer in good standing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.), Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity 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 obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxx Xxx- and Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 1 contract
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity corpora-tion in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or the ability of the Servicer to perform its obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the ServicerServicer hereunder, shall, with the prior written consent of the Master Servicer, shall be the successor of the Servicer hereunder, hereunder without the execution or filing of any paper or any further act on the part of any either of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving sur-viving Person shall be an institution (i) having that is qualified to service mortgage loans on behalf of Xxxxxx Xxx or Xxxxxxx Mac and (ii) that has a net worth of not less than $15,000,000, and (ii) which is a Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 1 contract
Samples: Loan Servicing Agreement (Sequoia Mortgage Trust 2007-4)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, existence and rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign entity 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 obligations as contemplated by duties under this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxx Xxx- and Xxxxxxx Mac-approved or Xxxxxx Mae-approved servicer in good standing.
Appears in 1 contract
Samples: Securitization Subservicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Merger or Consolidation of the Servicer. The Servicer shall keep in full effect its existence, rights and franchises as a corporationlimited liability company, and shall obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in which such qualification is or shall be necessary to perform its obligations as contemplated by this Agreement. Any Person into which the Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer shall be a party, or any Person succeeding to the business of the Servicer, shall, with the prior written consent of the Master Servicer, 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 shall be an institution (i) having a net worth of not less than $15,000,00025,000,000, and (ii) which is a Xxxxxxx Freddie Mac-approved or Xxxxxx Mae-approved servicer serxxxxx in good standing.
Appears in 1 contract