Common use of Not to Resign as Servicer Clause in Contracts

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to the provisions of Section 4.34.03, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.25.02.

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered Servicing Agreement to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to --------------------------------------------------- the provisions of Section 4.3, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to the provisions of Section 4.34.03, Xxxxxx Mae, Inc. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. in accordance with Section 5.25.02.

Not to Resign as Servicer. Subject to the --------------------------------------------------- provisions of Section 4.3, Xxxxxx Mae, Inc. Sallie Mae Servicing L.P. shall not resign from the obligations and duties dxxxxx hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Sallie Mae Servicing L.P. shall be communicated to the Eligible Lender Trustee Lendex Xxxxtxx and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Sallie Mae Servicing L.P. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to the provisions of Section 4.37.3, Xxxxxx Mae, Inc. shall [ ] hereby agrees not to resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are hereunder shall no longer be permissible under applicable lawlaw or if such resignation is required by regulatory authorities. Notice of any such determination permitting the resignation of Xxxxxx Xxx[ ], Inc. as Servicer shall be communicated to the Eligible Lender Owner Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Owner Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture earlier of the Trustee or a successor Successor Servicer shall have having assumed the responsibilities and obligations of Xxxxxx Mae, Inc. the resigning Servicer in accordance with Section 5.28.2 or the date upon which any regulatory authority requires such resignation.

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. in accordance with Section 5.2.. Servicing Agreement

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.2.. 12 Article V

Not to Resign as Servicer. Subject to the provisions of Section 4.3, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.2.

Not to Resign as Servicer. Subject to the --------------------------------------------------- provisions of Section 4.3, Xxxxxx Mae, Inc. Mae Servicing L.P. shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement are no longer permissible under applicable law. Notice of any such determination permitting the resignation of Xxxxxx Xxx, Inc. Xxx Servicing L.P. shall be communicated to the Eligible Lender Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Eligible Lender Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of Xxxxxx Mae, Inc. Mae Servicing L.P. in accordance with Section 5.2.