Common use of Merger or Consolidation, or Assumption of Obligations Clause in Contracts

Merger or Consolidation, or Assumption of Obligations. Any corporation into which CRMSI may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which CRMSI shall be a party, or any corporation succeeding to the business of CRMSI, or any corporation, more than 50% of the voting stock of which is, directly or indirectly, owned by Citigroup, which executes an agreement of assumption to perform every obligation of CRMSI hereunder, shall be the successor of CRMSI 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, that in the event that any such successor corporation executes such agreement of assumption, CRMSI shall not thereby be released from any of its obligations or liabilities hereunder. Any corporation 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 corporation succeeding to the business of the Servicer, or any corporation, more than 50% of the voting stock of which is, directly or indirectly, owned by Citigroup Inc., which executes an agreement of assumption to perform every obligation of the Servicer hereunder, 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, that in the event that any such successor corporation executes such agreement of assumption, the Servicer shall not thereby be released from any of its obligations or liabilities hereunder.

Merger or Consolidation, or Assumption of Obligations. Any corporation into which CRMSI may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which CRMSI shall be a party, or any corporation succeeding to the business of CRMSI, or any corporation, more than 50% of the voting stock of which is, directly or indirectly, owned by Citigroup, which executes an agreement of assumption to perform every obligation of CRMSI hereunder, shall be the successor of CRMSI 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, that in the event that any such successor corporation executes such agreement of assumption, CRMSI shall not thereby be released from any of its obligations or liabilities hereunder. Any corporation into which the Servicer CFMC may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Servicer CFMC shall be a party, or any corporation succeeding to the business of the ServicerCFMC, or any corporation, more than 50% of the voting stock of which is, directly or indirectly, owned by Citigroup Inc., which executes an agreement of assumption to perform every obligation of the Servicer CFMC hereunder, shall be the successor of the Servicer CFMC 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, that in the event that any such successor corporation executes such agreement of assumption, the Servicer CFMC shall not thereby be released from any of its obligations or liabilities hereunder.