Common use of SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN Clause in Contracts

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Trustee and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-Trustee, the Certificate Insurer and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate Insurer. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Owner Trustee and the Majority CertificateholdersTrustee (and with respect to FHA Loans, the Co-Trustee), or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, and the Owner Trustee (and with respect to FHA Loans, the Co-Trustee, the Certificate Insurer and to each Certificateholder), which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate InsurerOwner Trustee (and with respect to FHA Loans, the Co-Trustee). No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Trustee and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-Trustee, the Certificate Insurer Trustee and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate InsurerTrustee. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Trustee Co-Trustees and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-TrusteeTrustees, the Certificate Insurer and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate Insurer. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Trustee and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-Trustee, the Certificate Insurer Trustee and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate InsurerTrustee. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Owner Trustee and the Majority CertificateholdersTrustee, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, and the Co-Owner Trustee, the Certificate Insurer and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate InsurerOwner Trustee. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate InsurerTrustee, the Co-Trustee and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-Trustee, the Certificate Insurer Trustee and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate InsurerTrustee. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.

SERVICER AND CLAIMS ADMINISTRATOR NOT TO RESIGN. The Servicer and the Claims Administrator shall not assign this Agreement nor resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Claims Administrator, the Certificate Insurer, the Trustee and the Majority Certificateholders, or upon the determination that the Servicer's or Claims Administrator's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer or the Claims Administrator. Any such determination permitting the resignation of the Servicer and the Claims Administrator shall be evidenced by a written Opinion of Counsel (who may be counsel for the Servicer and the Claims Administrator) to such effect delivered to the Trustee, the Co-Co- Trustee, the Certificate Insurer and to each Certificateholder, which Opinion of Counsel shall be in form and substance acceptable to the Trustee and the Certificate Insurer. No such resignation shall become effective until a successor has assumed the Servicer's or the Claims Administrator's responsibilities and obligations hereunder in accordance with Section 10.02.