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 Company and the Servicer. 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 11.01(a) shall be void ab initio and of no force or effect whatsoever. (b) Under no circumstances shall the Servicer transfer to any Subservicer or any other Person any ownership interest in the servicing of the Loans or any right to transfer or sell the servicing to the Loans (other than in connection with the sale of any Loan). The Servicer shall not assign, pledge or otherwise transfer or purport to assign, pledge or otherwise transfer any interest to any Person in the servicing of the Loans (other than in connection with the sale of any Loan). Any purported assignment, pledge, delegation or other transfer in violation of this Section 11.01(b) 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 Company 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 11.01(a11.1(a) shall be void ab initio and of no force or effect whatsoever. (b) Under no circumstances shall the Servicer (i) transfer to any Subservicer or any other Person any ownership interest in the servicing of the Loans or any right to transfer or sell the servicing to the Loans (other than in connection with the sale of any Loan). The Servicer shall not , or (ii) assign, pledge or otherwise transfer or purport to assign, pledge or otherwise transfer any interest to any Subservicer or other Person in the servicing of the Loans (other than in connection with the sale of any Loan). Any purported assignment, pledge, delegation or other transfer in violation of this Section 11.01(b11.1(b) shall be void ab initio and of no force or effect whatsoever.