Rights and Obligations upon an Event of Default or Seller's Resignation as Servicer. In the event the Seller or any successor servicer appointed hereunder shall be terminated pursuant to Section 15 or shall resign pursuant to 14.04, servicing of the Mortgage Loans shall transfer to a party mutually agreed upon by Terwin and the Purchaser, in accordance with the servicing practices set forth in Section 11.01 and secondary market standards. If such successor servicer demands compensation in excess of the Subservicing Fee, the Subservicing Fee shall be increased and the Servicing Strip shall be reduced correspondingly. In no event shall the Servicing Fee be increased.
Appears in 7 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A2), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-A1)
