Common use of Right to Appoint Successor Servicer Clause in Contracts

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Default, to appoint a successor servicer to service any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records held by Seller, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its discretion, to appoint a successor servicer to service subservice any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Feesservicing fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its sole discretion, to appoint a successor servicer to service subservice any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing servicing Fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its sole discretion, to appoint a successor servicer to service subservice any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing servicing Fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its discretion, to appoint a successor servicer to service any Purchased Mortgage Loan (each a “Successor Servicer”)) in accordance with this Agreement. In the event of such an appointment, Seller or Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Feesservicing fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its discretion, to appoint a successor servicer to service subservice any Purchased Mortgage Loan (each a “Successor Servicer”)) in accordance with applicable law. In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Feesservicing fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer Administrative Agent reserves the right, upon the occurrence of an Event of Defaultin its sole and individual discretion, to appoint a successor servicer to service subservice any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Feesservicing fees, lost profits or other damages if Buyer Administrative Agent appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its discretion, to appoint a successor servicer to service subservice any Purchased Servicing Released Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing Feesservicing fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

Right to Appoint Successor Servicer. Buyer reserves the right, upon the occurrence of an Event of Defaultin its discretion, to appoint a successor servicer to service any Purchased Mortgage Loan (each a “Successor Servicer”). In the event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records Servicing Records held by SellerSeller or the Servicer, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for lost Servicing servicing Fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.