Subservicer Not to Resign. The Subservicer shall not resign from the duties and responsibilities hereunder except upon determination that (a) the performance of its duties hereunder has become impermissible under applicable law and (b) there is no reasonable action which the Subservicer could take to make the performance of its duties hereunder permissible under applicable law evidenced as to clause (a) above by an opinion of counsel to such effect delivered to the Purchaser.
Appears in 10 contracts
Samples: Receivables Sale Agreement (Equalnet Communications Corp), Receivables Sale Agreement (Equalnet Holding Corp), Receivables Sale Agreement (Intellicall Inc)
Subservicer Not to Resign. The Subservicer shall not resign from the duties and responsibilities hereunder except upon Purchaser’s or Master Servicer’s determination that (a) the performance of its Subservicer’s duties hereunder has become impermissible under applicable law and (b) there is no reasonable action which the Subservicer could take to make the performance of its duties hereunder permissible under applicable law evidenced as to clause (a) above by an opinion of counsel to such effect delivered to the Purchaser.
Appears in 5 contracts
Samples: Factoring and Security Agreement, Factoring and Security Agreement (Cordia Corp), Receivables Sales Agreement (Trinsic, Inc.)
Subservicer Not to Resign. The Subservicer shall not resign from the duties and responsibilities hereunder except upon determination that (a) the performance of its duties hereunder has become impermissible under applicable law and (b) there is no reasonable action which the Subservicer could take to make the performance of its duties hereunder permissible under applicable law evidenced as to clause (a) above by an opinion of counsel to such effect delivered to the Purchaser.Subservicer
Appears in 1 contract
Samples: Receivables Sale Agreement (Z Tel Technologies Inc)
Subservicer Not to Resign. The Subservicer shall not -------------------------- resign from the duties and responsibilities hereunder except upon determination that (a) the performance of its duties hereunder has become impermissible under applicable law and (b) there is no reasonable action which the Subservicer could take to make the performance of its duties hereunder permissible under applicable law evidenced as to clause (a) above by an opinion of counsel to such effect delivered to the Purchaser.
Appears in 1 contract
Samples: Receivables Sale Agreement (Avery Communications Inc)
