Common use of Successor Backup Servicer Clause in Contracts

Successor Backup Servicer. The Backup Servicer may at any time resign and be discharged from its obligations under this Agreement, provided that a successor Backup Servicer acceptable (as evidenced in writing) to the Rating Agencies shall have executed and delivered to the Servicer, the Originator, the Trustee and the predecessor Backup Servicer, an instrument accepting such appointment and agreeing to be bound by the terms of this Agreement. Upon such acceptance, the resignation of the predecessor Backup Servicer shall become effective. The predecessor Backup Servicer shall cooperate in effecting the transfer of its obligations to the successor.

Successor Backup Servicer. The Backup Servicer may at any time resign and be discharged from its obligations under this Agreement, provided that a successor Backup Servicer acceptable (as evidenced in writing) to the Rating Agencies shall have executed and delivered to the Servicer, the Originator, the Trustee and the predecessor Backup Servicer, an instrument accepting such appointment and agreeing to be bound by the terms of this Agreement. Upon such acceptance, the resignation of the predecessor Backup Servicer shall become effective. The predecessor Backup Servicer shall cooperate in effecting the transfer of its obligations to the successor.

Successor Backup Servicer. The Backup Servicer may at any ------------------------- time resign and be discharged from its obligations under this Agreement, provided that a successor Backup Servicer acceptable (as evidenced in writing) to the Rating Agencies shall have executed and delivered to the Servicer, the Originator, the Trustee and the predecessor Backup Servicer, an instrument accepting such appointment and agreeing to be bound by the terms of this Agreement. Upon such acceptance, the resignation of the predecessor Backup Servicer shall become effective. The predecessor Backup Servicer shall cooperate in effecting the transfer of its obligations to the successor.

Successor Backup Servicer. The Backup Servicer may at any time ------------------------- resign and be discharged from its obligations under this Agreement, provided that a successor Backup Servicer acceptable (as evidenced in writing) to the Rating Agencies shall have executed and delivered to the Servicer, the Originator, the Trustee and the predecessor Backup Servicer, an instrument accepting such appointment and agreeing to be bound by the terms of this Agreement. Upon such acceptance, the resignation of the predecessor Backup Servicer shall become effective. The predecessor Backup Servicer shall cooperate in effecting the transfer of its obligations to the successor.