Common use of Servicer Not to Resign; Assignment Clause in Contracts

Servicer Not to Resign; Assignment. (a) The Servicer shall not resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Seller, the Indenture Trustee, the Issuer, the Securities Insurer and the Majority Securityholders, or upon the determination that the Servicer's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer. Any such determination permitting the resignation of the Servicer shall be evidenced by a written opinion of counsel (who may be an employee of the Servicer) to such effect delivered to the Indenture Trustee, the Issuer, the Securities Insurer and the Seller, which opinion of counsel shall be in form and substance acceptable to the Indenture Trustee, the Issuer and the Securities Insurer. No such resignation shall become effective until the Indenture Trustee or a successor servicer has assumed the Servicer's responsibilities and obligations hereunder in accordance with Section 10.02.

Servicer Not to Resign; Assignment. (a) The Servicer ---------------------------------- shall not resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Seller, the Indenture Trustee, the Issuer, the Securities Insurer Issuer and the Majority Securityholders, or upon the determination that the Servicer's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer. Any such determination permitting the resignation of the Servicer shall be evidenced by a written opinion of counsel (who may be an employee of the Servicer) to such effect delivered to the Indenture Trustee, the Issuer, the Securities Insurer Issuer and the Seller, which opinion of counsel shall be in form and substance acceptable to the Indenture Trustee, the Issuer Trustee and the Securities InsurerIssuer. No such resignation shall become effective until the Indenture Trustee or a successor servicer has assumed the Servicer's responsibilities and obligations hereunder in accordance with Section 10.02.

Servicer Not to Resign; Assignment. (a) The Servicer shall not resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the SellerDepositor, the Indenture Trustee, Trustee and the Issuer, the Securities Insurer and the Majority Securityholders, or upon the determination that the Servicer's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer. Any such determination permitting the resignation of the Servicer shall be evidenced by a written opinion of counsel (who may be an employee of the Servicer) to such effect delivered to the Indenture Trustee, the Issuer, the Securities Insurer Issuer and the SellerDepositor, which opinion of counsel shall be in form and substance acceptable to the Indenture Trustee, the Issuer Trustee and the Securities InsurerIssuer. No such resignation shall become effective until the Indenture Trustee or a successor servicer Servicer has assumed the Servicer's responsibilities and obligations hereunder in accordance with Section 10.02.

Servicer Not to Resign; Assignment. (a) The Servicer shall not resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the SellerSeller (if the Seller is not also acting as Servicer), the Indenture Trustee, the Issuer, the Securities Note Insurer and the Majority SecurityholdersNoteholders, or upon the determination that the Servicer's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer. Any such determination permitting the resignation of the Servicer shall be evidenced by a written opinion of counsel (who may be an employee of the Servicer) to such effect delivered to the Indenture Trustee, the Issuer, the Securities Note Insurer and the SellerSeller (if the Seller is not also acting as Servicer), which opinion of counsel shall be in form and substance acceptable to the Indenture Trustee, the Issuer and the Securities Note Insurer. No such resignation shall become effective until the Indenture Trustee or a successor servicer Servicer has assumed the Servicer's responsibilities and obligations hereunder in accordance with Section 10.02.

Servicer Not to Resign; Assignment. (a) The Servicer shall ---------------------------------- not resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicer, the Seller, the Indenture Trustee, the Issuer, the Securities Insurer Issuer and the Majority Securityholders, or upon the determination that the Servicer's duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicer. Any such determination permitting the resignation of the Servicer shall be evidenced by a written opinion of counsel (who may be an employee of the Servicer) to such effect delivered to the Indenture Trustee, the Issuer, the Securities Insurer Issuer and the Seller, which opinion of counsel shall be in form and substance acceptable to the Indenture Trustee, the Issuer Trustee and the Securities InsurerIssuer. No such resignation shall become effective until the Indenture Trustee or a successor servicer has assumed the Servicer's responsibilities and obligations hereunder in accordance with Section 10.02.