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 Grantor Trustee will become the successor servicer or will appoint a successor servicer in accordance with the provisions of Section 10.02 hereof; provided, however, that any successor servicer, excluding the Grantor Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by the Rating Agencies.
Appears in 6 contracts
Samples: Sale and Servicing Agreement (Painewebber Mortgage Acceptance Corporation Iv), Sale and Servicing Agreement (Painewebber Mort Accept Corp Iv Ditech Home Loan Ownr 1998-1), Sale and Servicing Agreement (Empire Funding Home Loan Owner Trust 1997-5)
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 Grantor 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, however, provided that any successor servicerServicer, excluding including the Grantor Trustee, shall satisfy the requirements of an Eligible Servicer and shall be approved by the each Rating AgenciesAgency.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Master Financial Asset Securitization Trust 1998-2)
