Common use of Successor Servicers Clause in Contracts

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer or will appoint a successor Servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each Rating Agency.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Firstplus Investment Corp), Sale and Servicing Agreement (Firstplus Investment Corp), Sale and Servicing Agreement (Firstplus Investment Corp)

AutoNDA by SimpleDocs

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided provided, however, that any successor Servicerservicer, including excluding the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Empire Funding Home Loan Owner Trust 1997-4), Sale and Servicing Agreement (Life Financial Home Loan Owner Trust 1997-3), Sale and Servicing Agreement (Ditech Funding Corp Home Loan Owner Trust 1997-1)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer or will appoint a successor Servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each Rating Agency.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Firstplus Investment Corp), Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof10.1, or resigns pursuant to Section 9.04 hereof 9.4 or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof10.2; provided that any successor Servicerservicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Home Equity Securitization Corp), Sale and Servicing Agreement (Residential Asset Funding Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicerservicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies and the Securities Insurer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Firstplus Investment Corp), Sale and Servicing Agreement (Firstplus Investment Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 ------------- hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes ------------ unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided provided, however, ------------- that any successor Servicerservicer, including excluding the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Financial Asset Securities Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer or will appoint a successor Servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies and the Securities Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Firstplus Investment Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 ------------- hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes ------------ unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided that any ------------- successor Servicerservicer, including excluding the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)

AutoNDA by SimpleDocs

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer or will appoint a successor Servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each Rating AgencyAgency and the Note Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Firstplus Financial Group Inc)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 ------------- hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes ------------ unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided that any ------------- successor Servicerservicer, including excluding the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Financial Asset Securities Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 hereof, or resigns pursuant to Section 9.04 hereof or otherwise becomes unable to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 hereof; provided that any successor Servicerservicer, including the Indenture Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgencies.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Cityscape Corp)

Successor Servicers. In the event that the Servicer is ------------------- terminated pursuant to Section 10.01 9.01 ------------ hereof, or resigns pursuant to Section 9.04 8.04 hereof or otherwise becomes unable ------------ to perform its obligations under this Agreement, the Indenture Trustee will become the successor Servicer or will appoint a successor Servicer servicer in accordance with the provisions of Section 10.02 9.02 ------------ hereof; provided provided, however, that any successor Servicer, including the Indenture Trustee, servicer shall satisfy the requirements of an Eligible Servicer and shall be approved by each the Rating AgencyAgency (upon receipt by the Rating Agency of thirty (30) days written notice thereof).

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ascent Entertainment Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!