Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 47 contracts

Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec as-BCKD Pass-THR Cert Ser 2003-7), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Back Pas THR Certs Ser 2003 5), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Backed Ser 2003-10)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 34 contracts

Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1997-Aq2), Pooling and Servicing Agreement (Floating Rate Mort Pass Through Cert Series 2000-1), Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Series 2003-Nbc1)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 32 contracts

Samples: Pooling and Servicing Agreement (Argent Securities Trust 2006-M1), Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Whq4), Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates, Series 2005-R4)

Successor Sub-Servicers. The ~~Master Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee or the Trust Administrator without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 28 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-He3), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Wfhe3), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Wfhe2)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement (other than any Initial Sub-Servicing Agreement) shall include the provision that such agreement may be immediately terminated by the Trustee or the Trust Administrator without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 26 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc., Series 2005-5), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Asset-Backed Pass-Through Certificates, Series 2005-Wf2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. 2005-4)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any ~~Sub-~~Sub Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-6 Trust)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Indenture Trustee (if the Indenture Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Servicing Agreement, in the event that the Master Servicer (or the Indenture Trustee, if it is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 17 contracts

Samples: Servicing Agreement (New Century Home Equity Loan Trust 2005-3), Servicing Agreement (New Century Home Equity Loan Trust 2005-4), Servicing Agreement (New Century Home Equity Loan Trust 2006-S1)

Successor Sub-Servicers. The Master Servicer, with the written consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub-Servicing Agreement at the direction of the NIMS Insurer in the event that the Master Servicer (or the Trustee, if then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 17 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-4), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-2), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-Wl3)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer or the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer (or the Trustee, if such party is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2002-3), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2003-6), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2004-1)

Successor Sub-Servicers. The ~~Master Servicer, with~~ Servicer or the ~~consent of the NIMS Insurer,~~ Certificate Insurer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer, the Trust Administrator (if the Master Servicer is the Servicer), the Trustee (if the Trust Administrator is acting as Servicer) or the Certificate Insurer without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master Servicer or Trust Administrator, if such party is then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Long Beach Securities Corp), Pooling and Servicing Agreement (New Century Mortgage Securities LLC)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-~~Sub- Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer or the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer (or the Trustee, if such party is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2001 Ff1), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2000-2), Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 2000 Ff1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-~~Sub- Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Long Beach Securities Corp), Pooling and Servicing Agreement (Argent Securities Inc), Pooling and Servicing Agreement (Floating Rate Mort Pass Through Cert Series 2000-1)

Successor Sub-Servicers. The Master Servicer, with the written consent of the NIMS Insurer, shall be entitled to terminate any ~~Sub-Servicing~~ Sub‑Servicing Agreement and the rights and obligations of any ~~Sub-Servicer~~ Sub‑Servicer pursuant to any ~~Sub-Servicing~~ Sub‑Servicing Agreement in accordance with the terms and conditions of such ~~Sub-Servicing~~ Sub‑Servicing Agreement. In the event of termination of any ~~Sub-Servicer~~Sub‑Servicer, all servicing obligations of such ~~Sub- Servicer~~ Sub‑Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such ~~Sub-Servicer~~ Sub‑Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-Servicing~~ Sub‑Servicing Agreement with a successor ~~Sub-Servicer~~ Sub‑Servicer which qualifies under Section ~~6.06~~3.02. Any ~~Sub-Servicing~~ Sub‑Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub‑Servicing Agreement at the direction of the NIMS Insurer in the event that the Master Servicer (or the Trustee, if then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-2 Asset-Backed Certificates, Series 2005-2), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-Wl1 Asset-Backed Certificates, Series 2005-Wl1), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-3 Asset-Backed Certificates, Series 2005-3)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer or the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer (or the Trustee, if such party is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-5, Asset-Backed Certificates, Series 2005-5), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-4, Asset-Backed Certificates, Series 2005-4)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the written consent of the NIMS Insurer, shall be entitled to terminate any ~~Sub-Servicing~~ Sub‑Servicing Agreement and the rights and obligations of any ~~Sub-Servicer~~ Sub‑Servicer pursuant to any ~~Sub-Servicing~~ Sub‑Servicing Agreement in accordance with the terms and conditions of such ~~Sub-Servicing~~ Sub‑Servicing Agreement. In the event of termination of any ~~Sub-Servicer~~Sub‑Servicer, all servicing obligations of such ~~Sub- Servicer~~ Sub‑Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such ~~Sub-Servicer~~ Sub‑Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-Servicing~~ Sub‑Servicing Agreement with a successor ~~Sub-Servicer~~ Sub‑Servicer which qualifies under Section ~~6.06~~3.02. Any ~~Sub-Servicing~~ Sub‑Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub‑Servicing Agreement at the direction of the NIMS Insurer in the event that the ~~Master~~ Servicer (or the Trustee, if then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master Servicer~~ Event of Default).

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He2), Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1), Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He2)

Successor Sub-Servicers. The ~~Master Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to ~~any~~ the related Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the ~~Trustee~~ Master Servicer without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master ~~Servicer~~ Servicer, if then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to ~~a Master Servicer~~ an Event of Default).

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp), Pooling and Servicing Agreement (Asset Backed Pass-Through Certificates, Series 2004-He6), Pooling and Servicing Agreement (Asset Backed Securities Corp)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer or the Trustee (if the Master Servicer or the Trustee is acting as Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master ~~Servicer~~ Servicer, if it is then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He4), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the ~~Trustee~~ Master Servicer (if the Master Servicer is acting as Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master ~~Servicer~~ Servicer, if it is then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc3), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-Nc1, Mortgage Pass-Through Certificates, Series 2006-Nc1), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc2)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer (or the Trustee, if it is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-1), Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-5), Pooling and Servicing Agreement (Salomon BRS MRT Sec Vii Inc New Cent Hm Eq L Tr Ser 2001-Nc1)

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-9), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-8)

Successor Sub-Servicers. The ~~Master Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee (if the Trustee is acting as successor Servicer) without fee, in accordance with the terms of this Agreement, in the event that the ~~Master Servicer~~ Servicer, shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of ~~Default~~Termination).

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. ~~Any~~ Each Sub-Servicing ~~Agreement~~ Agreement, if any, shall include the provision that such agreement may be immediately terminated by ~~the Trustee~~ any successor Master Servicer without ~~fee, in accordance with the terms~~ cause and without payment of ~~this Agreement,~~ any fee or penalty in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including ~~termination due to a Master Servicer~~ by reason of an Event of Default).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Securitization Inc), Pooling and Servicing Agreement (DLJ Mort Accept Corp Mort Pass Through Cert Series 1995 Qe11), Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 Qe9)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any ~~Sub-~~Sub Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-~~Sub- Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates Series 2003-1), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC CDMC Mort Pas THR Ce Se 04 1), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC CDMC Mort Pas THR Ce Se 04 3)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trust Administrator or the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Ass Bk Pas THR Certs Ser 2002 2), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc as-Bk Ps-Th Ct Sr 2002-1), Pooling and Servicing Agreement (Asset Backed Pass Through Certificates 2002-3)

Successor Sub-Servicers. The Master ~~Servicer, with~~ Servicer or the ~~consent of the NIMS Insurer,~~ Certificate Insurer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee or the Certificate Insurer without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Salomon Br Mor Sec Vii Inc New Cen Ast BCK Fl Rt Ce 1997 Nc2), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Asst Back Cert Se 1997-Nc3), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1997-Nc1)

Successor Sub-Servicers. The ~~Master Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing ~~Agreement~~Agreement but only with the prior consent of the Certificate Insurer. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that (i) such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default)) or (ii) clearly and unambiguously states that any termination fee is the sole responsibility of the Servicer and none of the Trustee, the Certificateholders or the Certificate Insurer, has any liability therefor, regardless of the circumstances surrounding such termination.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the written consent of the NIMS Insurer, shall be entitled to terminate any ~~Sub-Servicing~~ Sub‑Servicing Agreement and the rights and obligations of any ~~Sub-Servicer~~ Sub‑Servicer pursuant to any ~~Sub-Servicing~~ Sub‑Servicing Agreement in accordance with the terms and conditions of such ~~Sub-Servicing~~ Sub‑Servicing Agreement. In the event of termination of any ~~Sub-Servicer~~Sub‑Servicer, all servicing obligations of such ~~Sub- Servicer~~ Sub‑Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such ~~Sub-Servicer~~ Sub‑Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-Servicing~~ Sub‑Servicing Agreement with a successor ~~Sub-Servicer~~ Sub‑Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub‑Servicing Agreement at the direction of the NIMS Insurer in the event that the ~~Master~~ Servicer (or the Trustee, if then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He4), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He1)

Successor Sub-Servicers. The ~~Master Servicer,~~ Servicer (with the consent of the NIMS Insurer, ) shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass-Through Trust, Series 2006-1), Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass Through Certificates, Series 2005-1)

Successor Sub-Servicers. ~~The Master Servicer, with the consent of the NIMS Insurer,~~ A Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to ~~any~~ the related Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ related Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ related Servicer, and the ~~Master~~ related Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the ~~Trustee~~ Trust Administrator without fee, in accordance with the terms of this Agreement, in the event that a Servicer (or the Master ~~Servicer~~ Servicer, if then acting as a Servicer) shall, for any reason, no longer be ~~the Master~~ a Servicer (including termination due to ~~a Master Servicer~~ an Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series MO 2006-He6), Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series MO 2006-He6)

Successor Sub-Servicers. ~~The~~ Except with respect to the Special Sub-Servicing Agreement, the Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, (provided, however, that consent of the NIMS Insurer shall not be required with respect to the Sub-Servicing Agreement between JPMorgan and CHF), shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the ~~Trustee~~ Master Servicer (if the Master Servicer is acting as Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master ~~Servicer~~ Servicer, if it is then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1)

Successor Sub-Servicers. The Master Servicer, with the written consent of the NIMS ~~Insurer~~Insurer or the Guarantor (as provided in Section 1.04), shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub-Servicing Agreement at the direction of the NIMS Insurer or the Guarantor (as provided in Section 1.04) in the event that the Master Servicer (or the Trustee, if then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Cert Series 2003-1), Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Certs Series 2002-5)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer (or the Trustee, if such party is then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2005-Opt1), Pooling and Servicing Agreement (Mortgage Asset Securitization Transactions, Inc. Mortgage Pass-Through Certificates, Series 2004-0pt2)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS ~~Insurer~~Insurer (provided, however, that consent of the NIMS Insurer shall not be required with respect to the Sub-Servicing Agreement between JPMorgan and CHF), shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the ~~Trustee~~ Master Servicer (if the Master Servicer is acting as Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Servicer (or the Master ~~Servicer~~ Servicer, if it is then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc3), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc4)

Successor Sub-Servicers. The Master Servicer, with the consent of the ~~NIMS~~ NIMs Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Float Rate Mort Pa Th Cer Ser 2001-1), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Flo Rate Mort Pas THR Cert Ser 01 3)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the written consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub-Servicing Agreement at the direction of the NIMS Insurer in the event that the ~~Master~~ Servicer (or the Trustee, if then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. ~~Any~~ Except for the Special Servicing Agreement, any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Mortgage Pass-Through Certificates, Series 2004-Ncm1), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2004-Ncm2)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer 156 pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Whq1)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this 148 Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset-Backed Pass-Through Certificates Series 2004-W7)

Successor Sub-Servicers. The Master Servicer, with the consent of the ~~NIMS Insurer~~Insurers, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~5.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Indenture Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Sale and Servicing Agreement (Argent Securities Inc)

Successor Sub-Servicers. The Master ~~Servicer,~~ Servicer (with the consent of the NIMS Insurer, ) shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Wcw3)

Successor Sub-Servicers. The Master Servicer, with the consent of the ~~NIMS~~ NIMs Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor ~~Sub-~~Sub- Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee or the Trust Administrator without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Floating Rate Mortgage Pass-Through Cert-Series 2001-2)

Successor Sub-Servicers. The Master Servicer, with the written consent of the NIMS ~~Insurer~~Insurer or the Certificates Controlling Person (as provided in Section 1.04), shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, and the Trustee shall so terminate such Sub-Servicing Agreement at the direction of the NIMS Insurer or the Certificates Controlling Person (as provided in Section 1.04) in the event that the Master Servicer (or the Trustee, if then acting as Master Servicer) shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Mortgage Loan Trust 2002-4)

Successor Sub-Servicers. ~~The Master Servicer, with~~ Any Sub-Servicing Agreement shall provide that the ~~consent of the NIMS Insurer,~~ related Servicer shall be entitled to terminate any Sub-Servicing Agreement and ~~the rights and obligations of any Sub-Servicer pursuant~~ to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either ~~shall~~ itself directly service ~~directly~~ the related Mortgage Loans or ~~shall~~ enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated as soon as is reasonably possible by any successor to the ~~Trustee~~ related Servicer without ~~fee,~~ fee in accordance with the terms of this Agreement, in the event that the ~~Master~~ related Servicer (or any successor to such Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer of the related Mortgage Loans (including termination due to a ~~Master~~ Servicer Event of Default). Each Servicer shall be entitled to enter into an agreement with its Sub-Servicer and Subcontractor for indemnification of the related Servicer or Subcontractor, as applicable, by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl1)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trust Administrator or the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Wwf1)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the ~~NIMS~~ NIMs Insurer, if any, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to ~~any~~ the related Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer (or the Trustee, if then acting as Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to ~~a Master Servicer~~ an Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series AMQ 2007-He2)

Successor Sub-Servicers. ~~The Master Servicer, with~~ Any Sub-Servicing Agreement shall provide that the ~~consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and ~~the rights and obligations of any Sub-Servicer pursuant~~ to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either ~~shall~~ itself directly service ~~directly~~ the related Mortgage Loans or ~~shall~~ enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated as soon as is reasonably possible by any successor to the ~~Trustee~~ Servicer without ~~fee,~~ fee in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer (or any successor to the Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer of the related Mortgage Loans (including termination due to a ~~Master~~ Servicer Event of Default). The Servicer shall be entitled to enter into an agreement with its Sub-Servicer and Subcontractor for indemnification of the Servicer or Subcontractor, as applicable, by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related ~~Mortgage~~ Home Equity Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Series 2000 Lb1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-Servicing~~ SubServicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. ~~Any Sub-~~Each Sub- Servicing ~~Agreement~~ Agreement, if any, shall include the provision that such agreement may be immediately terminated by ~~the Trustee~~ any successor Master Servicer without ~~fee, in accordance with the terms~~ cause and without payment of ~~this Agreement,~~ any fee or penalty in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including ~~termination due to a Master Servicer~~ by reason of an Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CMC Securities Corp Iv)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee (if the Trustee is acting as successor Servicer) without fee, in accordance with the terms of this Agreement, in the event that the ~~Master Servicer~~ Servicer, shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of ~~Default~~Termination).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Wmc1)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of ~~Default~~Termination).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC 2005-Aq1 Trust)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any ~~Sub-~~Sub- Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asst Back Ps THR Cert Ser 2003-2)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance -67- with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a ~~Sub-~~Sub- Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1999-Aq2)

Successor Sub-Servicers. The Master Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any ~~Sub-~~Sub- Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such ~~Sub-~~Sub- Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates, Series 2004-R5)

Successor Sub-Servicers. The ~~Master~~ Servicer, with the consent of the NIMS Insurer, shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the ~~Master~~ Servicer without any act or deed on the part of such Sub-Servicer or the ~~Master~~ Servicer, and the ~~Master~~ Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 6.06. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trustee without fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer shall, for any reason, no longer be the ~~Master~~ Servicer (including termination due to a ~~Master~~ Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Wll1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related ~~Mortgage~~ Home Equity Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Trust Administrator or the Trustee without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Successor Sub-Servicers. ~~The Master Servicer, with~~ Any Sub-Servicing Agreement shall provide that the ~~consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and ~~the rights and obligations of any Sub-Servicer pursuant~~ to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either ~~shall~~ itself directly service ~~directly~~ the related Mortgage Loans or ~~shall~~ enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by any successor to the ~~Trustee~~ Servicer (which may be the Master Servicer) without the payment of a fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer (or any successor to the Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer of the related Mortgage Loans (including termination due to a ~~Master~~ Servicer Event of Default). The Servicer shall be entitled to enter into an agreement with its Sub-Servicer and Subcontractor for indemnification of the Servicer or Subcontractor, as applicable, by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap2)

Successor Sub-Servicers. ~~The Master Servicer, with~~ Any Sub-Servicing Agreement shall provide that the ~~consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and ~~the rights and obligations of any Sub-Servicer pursuant~~ to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub- Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either ~~shall~~ itself directly service ~~directly~~ the related Mortgage Loans or ~~shall~~ enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by any successor Servicer (which may be the ~~Trustee~~ Master Servicer) without the payment of a fee, in accordance with the terms of this Agreement, in the event that the ~~Master~~ Servicer (or any successor to the Servicer) shall, for any reason, no longer be the ~~Master~~ Servicer of the related Mortgage Loans (including termination due to a ~~Master~~ Servicer Event of Default). The Servicer shall be entitled to enter into an agreement with its Sub-Servicer and Subcontractor for indemnification of the Servicer or Subcontractor, as applicable, by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asl1)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. ~~Any~~ Each Sub-Servicing ~~Agreement~~ Agreement, if any, shall include the provision that such agreement may be immediately ~~terminated~~ temrinated by ~~the Trustee~~ any successor Master Servicer without ~~fee, in accordance with the terms~~ cause and without payment of ~~this Agreement,~~ any fee or penalty in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including ~~termination due to a Master Servicer~~ by reason of an Event of Default).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 Q8)

Successor Sub-Servicers. The Master ~~Servicer, with the consent of the NIMS Insurer,~~ Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such ~~Sub-~~ Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall service directly the related ~~Mortgage~~ Loans or shall enter into a Sub-~~Servicing~~ Servi Agreement with a successor Sub-Servicer which qualifies under Section ~~6.06~~3.02. Any Sub-Servicing Agreement shall include the provision that such agreement may be immediately terminated by the Master Servicer or the Trustee (if the Trustee is acting as Master Servicer) without fee, in accordance with the terms of this Agreement, in the event that the Master Servicer shall, for any reason, no longer be the Master Servicer (including termination due to a Master Servicer Event of ~~Default~~Termination).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)

Common use of Successor Sub-Servicers Clause in Contracts