Servicer to Act; Authority to Act; Appointment of Successor. At the time the Participant receives a notice of termination or suspension pursuant to Section 5.02, and until such time as the Authority shall designate a successor to the Participant with respect to the Loans to be originated hereunder, the Master Servicer (not applicable for MCC) shall succeed to all rights of the Participant hereunder. The Authority shall take such action, consistent with this Origination Agreement, as shall be necessary to effectuate any such succession. The Participant will cooperate with the Master Servicer (not applicable for MCC) and the Authority in effectuating any such succession.
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Samples: Mortgage Origination and Sale Agreement, Mortgage Origination and Sale Agreement, Mortgage Origination and Sale Agreement
Servicer to Act; Authority to Act; Appointment of Successor. At the time the Participant receives a notice of termination or suspension pursuant to Section 5.02, and until such time as the Authority shall designate a successor to the Participant with respect to the Loans to be originated hereunder, the Master Servicer (not applicable for MCC) shall succeed to all rights of the Participant hereunder. The Authority shall take such action, consistent with this Origination Agreement, as shall be necessary to effectuate any such succession. The Participant will cooperate with the Master Servicer (not applicable for MCC) and the Authority in effectuating any such succession.succession.β
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