Common use of No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights Clause in Contracts

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute an assignment for all purposes of this Agreement: (a) any merger, consolidation or dissolution involving the Servicer or (b) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. Any purported sale, sub-participation or assignment or delegation in violation of this Section 11.1(a) shall be void ab initio and of no force or effect whatsoever.

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute an assignment for all purposes of this Agreement: (a) any merger, consolidation or dissolution involving the Servicer or (b) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. In connection with the sale of a Loan, the Servicer shall, at the direction of the Manager, transfer, sell or assign its rights hereunder to service such Loan. Any purported sale, sub-participation or assignment or delegation in violation of this Section 11.1(a) shall be void ab initio and of no force or effect whatsoever.

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute an assignment for all purposes of this Agreement: (a) any merger, consolidation or dissolution involving the Servicer or (b) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. In connection with the Sale of a Loan, the Servicer shall, at the direction of the Manager, transfer, sell or assign its rights hereunder to service such Loan. Any purported sale, sub-participation or assignment or delegation in violation of this Section 11.1(a) shall be void ab initio and of no force or effect whatsoever.

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute an assignment for all purposes of this Agreement: (ai) any merger, consolidation or dissolution involving the Servicer or (bii) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. Any purported sale, sub-participation or assignment or delegation in violation of this Section 11.1(a) shall be void ab initio and of no force or effect whatsoever.

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute constitutes an assignment for all purposes of this Agreement: (ai) any merger, consolidation or dissolution involving the Servicer or (bii) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall may not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. Any purported sale, sub-participation or assignment or delegation in violation of this Section 11.1(a) shall will be void ab initio and of no force or effect whatsoever.

No Assignment by Servicer; No Transfer of Ownership Interests in Servicing Rights. (a) The Servicer hereby acknowledges that this Agreement constitutes a personal services agreement between the Manager and the Servicer. Any of the following shall constitute constitutes an assignment for all purposes of this Agreement: (ai) any merger, consolidation or dissolution involving the Servicer or (bii) any transfer or all or substantially all of the assets of the Servicer, notwithstanding whether any of the foregoing transactions occur at one time or in the aggregate over a period of time. The Servicer shall may not assign any rights or obligations hereunder to any other Person other than as is expressly provided in this Agreement. Any purported sale, sub-sub- participation or assignment or delegation in violation of this Section 11.1(a) shall will be void ab initio and of no force or effect whatsoever.