Common use of No Transfer of Servicing Clause in Contracts

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-Cl1), Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)

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No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the CompanySeller's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Seller either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Seller (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 10 contracts

Samples: Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S1), Warranties and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2007-S1), Assignment and Assumption Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-11h)

No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the Company's Seller’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way anyway limiting the generality of this Section, the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Seller either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Seller (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 7 contracts

Samples: Purchase, Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-S1), Purchase, Warranties and Servicing Agreement (Starm Mortgage Loan Trust 2007-2)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2), Recognition Agreement (Bear Stearns ALT-A Trust 2006-1), Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)

No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the CompanySeller's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate a substantial portion of its rights or duties hereunder or any portion thereofhereunder, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall will not be granted or withheld in unreasonably withheld; provided, however, the Seller may, with prior notice but without Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05’s consent, in the event that the Company either shall assign this Agreement or the servicing responsibilities its rights and obligations as servicer hereunder or delegate its duties hereunder or any portion thereof without to an entity if (i) satisfying such entity is directly or indirectly owned or controlled by the requirements set forth herein or Seller, (ii) such entity shall be qualified to service mortgage loans on behalf of FNMA or FHLMC and shall satisfy the prior written consent requirements of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than Section 16 with respect to accrued but unpaid the qualifications of a successor to the Seller, and (iii) the Seller guaranties the performance by such entity of all obligations hereunder. Nothing in this Agreement shall prohibit or limit the right of the Seller to assign the servicing rights hereunder to Countrywide Home Loans Servicing Fees and Servicing Advances remaining unpaid) or any third partyLP.

Appears in 4 contracts

Samples: Reconstituted Servicing Agreement (Zuni 2006-Oa1), Reconstituted Servicing Agreement (HarborView 2007-1), Master Mortgage Loan Purchase and Servicing Agreement (HarborView 2006-11)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion, but if the purchaser of the Company's assetshas the qualifications set forth in Section 8.02, then the Purchaser will not unreasonably withhold consent. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 4 contracts

Samples: Recognition Agreement (Bear Stearns ALT-A Trust 2006-1), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2007-3), Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)

No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the Company's Seller’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Seller either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Seller (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-1f), Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion, unless the Company meets the requirements of the last sentence of Section 8.02 herein after any such disposition. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2007-3), Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-7)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole reasonable discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Servicing Sxxxxxxxx Advances remaining unpaid) or any third party.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the Company's Servicer’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 7.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.057.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Monthly Advances, Servicing Advances and Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (CSMC Trust 2007-4), Assumption and Recognition Agreement (CSMC Mortgage Backed Trust Series 2007-1)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser Owner has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretionOwner. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the PurchaserOwner, then the Purchaser Owner shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 2 contracts

Samples: Flow Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A7), Flow Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S4)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, which consent shall not be unreasonable withheld, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-Cl1), Servicing Agreement (Prime Mortgage Trust 2005-5)

No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the CompanySeller's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, except as provided in Section 4.15 or Section 8.04 the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Seller either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company Seller (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2000-1)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the Company's Servicer’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 8.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Monthly Advances, Servicing Advances and Interim Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Assignment Agreement (Terwin Securitization LLC)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole reasonable discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances Serxxxxxx Xxvances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser Master Servicer has acted in reliance upon the Company's Servicer’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Sectionsection, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assetsassets not in the ordinary course of business, without the prior written approval of the PurchaserMaster Servicer, which consent approval shall not be granted or withheld in the Purchaser's sole discretionunreasonably withheld. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the PurchaserMaster Servicer, then the Purchaser Master Servicer shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Monthly Advances and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)

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No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 7.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall not be granted or withheld in the Purchaser's sole discretionunreasonably withheld. Without in any way limiting the generality of this Section 8.057.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third partyAgreement as set forth in Section 9.02.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa4)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser Owner has acted in reliance upon the Company's Servicer’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretionOwner. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the PurchaserOwner, then the Purchaser Owner shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Flow Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

No Transfer of Servicing. With respect to the retention of the Company RFC to service the Mortgage Loans HELOCs hereunder, the Company RFC acknowledges that the Purchaser has acted in reliance upon the Company's RFC’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 7.05, the Company RFC shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, other than in accordance with Subsection 11.18, or sell or otherwise dispose of all or substantially all of its property or assetsassets except in compliance with Subsection 7.02, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.057.05, in the event that the Company RFC either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof except in compliance with Subsection 11.18 without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 9.01, without any payment of any penalty or damages and without any liability whatsoever to the Company RFC (other than with respect to accrued but unpaid Servicing Fees Advances and Servicing Advances Fees remaining unpaid) or any third party.

Appears in 1 contract

Samples: Sale and Servicing Agreement (GSR Trust 2007-Hel1)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the Company's Servicer’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 7.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.057.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 9.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Monthly Advances, Servicing Advances and Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (MASTR Asset Securitization Trust 2006-3)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser Owner has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the PurchaserOwner, which consent shall be granted or withheld in the PurchaserOwner's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the PurchaserOwner, then the Purchaser Owner shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Servicing Agreement (Prime Mortgage Trust 2005-5)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 7.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.057.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 9.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Monthly Advances, Servicing Advances and Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)

No Transfer of Servicing. With respect to the retention of the Company Seller to service the Mortgage Loans hereunder, the Company Seller acknowledges that the Purchaser has acted in reliance upon the CompanySeller's independent status, the adequacy of its servicing facilities, plan, , personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company Seller shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Seller either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Seller (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial fmancial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying satisf'ing the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)

No Transfer of Servicing. With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's ’s independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's ’s sole discretion. Without in any way limiting the generality of this Section 8.0511.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-St1)

No Transfer of Servicing. With respect to the retention of the Company Servicer to service the Mortgage Loans hereunder, the Company Servicer acknowledges that the Purchaser has acted in reliance upon the CompanyServicer's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this SectionSection 8.05, the Company Servicer shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company Servicer either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this AgreementAgreement as set forth in Section 10.02, without any payment of any penalty or damages and without any liability whatsoever to the Company Servicer (other than with respect to accrued but unpaid Monthly Advances, Servicing Advances and Interim Servicing Fees and Servicing Advances remaining unpaid) or any third party.

Appears in 1 contract

Samples: Servicing Agreement (E Loan Inc)

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