Common use of Replacement Servicer Clause in Contracts

Replacement Servicer. In the event that the Seller ceases to be the Servicer, the Guarantor shall forthwith arrange for the servicing of any Related Loans and their Shared Security with a new Servicer (each a “Replacement Servicer”) in a manner which ensures continuity of servicing and is authorized to do so without any further consent on the part of the beneficial owner (or owner) of Seller Retained Loans provided that the Replacement Servicer meets the following requirements and enters into a servicing agreement in favour of the Guarantor and the related Seller that meets the following requirements and provides that:

Replacement Servicer. ‌ In the event that the Seller ceases to be the Servicer, the Guarantor shall forthwith arrange for the servicing of any Related Loans and their Shared Security with a new Servicer (each a “Replacement Servicer”) in a manner which ensures continuity of servicing and is authorized to do so without any further consent on the part of the beneficial owner (or owner) of Seller Retained Loans provided that the Replacement Servicer meets the following requirements and enters into a servicing agreement in favour of the Guarantor and the related Seller that meets the following requirements and provides that:

Replacement Servicer. In the event that the Seller ceases to be the Servicer, the Guarantor shall shall, subject to the terms and conditions of the Servicing Agreement, forthwith arrange for the servicing of any Related Loans and their Shared Security with a new Servicer (each a “Replacement Servicer”) in a manner which ensures continuity of servicing and is authorized to do so without any further consent on the part of the beneficial owner (or owner) of Seller Retained Loans or Originator Retained Loans provided that the Replacement Servicer meets the following requirements and enters into a servicing agreement in favour of the Guarantor and the related Seller that meets the following requirements and provides that:

Replacement Servicer. In the event that the Seller Servicer ceases to be the ServicerSeller, the Guarantor shall forthwith arrange for the servicing of any Related Loans and their Shared Security with a new Servicer (each a “Replacement Servicer”) in a manner which ensures continuity of servicing and is authorized to do so without any further consent on the part of the beneficial owner (or beneficial owner) of Seller Originator Retained Loans provided that the Replacement Servicer meets the following requirements and enters into a servicing agreement in favour of the Guarantor and the related Seller that meets the following requirements and provides that: