Common use of Servicers Not to Resign Clause in Contracts

Servicers Not to Resign. The Servicers shall not assign this Agreement or resign from the obligations and duties hereby imposed on them except by mutual consent of the Servicers and the Trustee (with the Required Noteholders' consent), or upon the determination that the Servicers' duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Servicers. Any such determination permitting the resignation of the Servicers shall be evidenced by a Certificate of an Authorized Officer of the Servicers to such effect delivered to the Trustee, the Noteholders, the Supervisory Servicer and the Rating Agency. No such resignation shall become effective until a successor has assumed the Servicers' responsibilities and obligations hereunder in accordance with Section 6.5.