Common use of Sponsor and Master Servicer Not to Resign Clause in Contracts

Sponsor and Master Servicer Not to Resign. Subject to the provisions of Section 7.02, neither the Sponsor nor the Master Servicer shall resign from its respective obligations and duties hereby imposed on it except upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Sponsor or the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer's responsibilities and obligations in accordance with Section 8.05 hereof.

Sponsor and Master Servicer Not to Resign. Subject to the provisions of Section 7.02, neither the Sponsor nor the Master Servicer shall resign from its respective obligations and duties hereby imposed on it except upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Sponsor or the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer's responsibilities and obligations in accordance with Section 8.05 8.02 hereof.

Sponsor and Master Servicer Not to Resign. Subject to the provisions of Section 7.02, neither the Sponsor nor the Master Servicer shall resign from its respective obligations and duties hereby imposed on it except upon (a) appointment of a successor servicer and receipt by the Trustee of a letter from the Rating Agency that such resignation and appointment will not result in the downgrading of the Certificates or (b) determination that its duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Sponsor or the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer's ’s responsibilities and obligations in accordance with Section 8.05 hereof.