Common use of Successor Trustee or Successor Securities Administrator Clause in Contracts

Successor Trustee or Successor Securities Administrator. (a) Any successor trustee or successor securities administrator appointed as provided in Section 6.06 shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator, respectively, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or the predecessor securities administrator shall become effective and such successor trustee or successor securities administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee or securities administrator, respectively. The predecessor trustee shall deliver to the successor trustee all Trustee Mortgage Files and documents and statements related to each Trustee Mortgage File held by it hereunder, and shall duly assign, transfer, deliver and pay over to the successor trustee, the entire Issuing Entity, together with all necessary instruments of transfer and assignment or other documents properly executed necessary to effect such transfer and such of the records or copies thereof maintained by the predecessor trustee in the administration hereof as may be requested by the successor trustee and shall thereupon be discharged from all duties and responsibilities under this Agreement. In addition, the Depositor and the predecessor trustee or predecessor securities administrator, as applicable, shall execute and deliver such other instruments and do such other things as may reasonably be required to more fully and certainly vest and confirm in the successor trustee or successor securities administrator, respectively, all such rights, powers, duties and obligations.

Successor Trustee or Successor Securities Administrator. (a) Any successor trustee or successor securities administrator appointed as provided in Section 6.06 shall execute, acknowledge and deliver to the Depositor Depositor, the Seller, the Master Servicer and to its predecessor trustee or predecessor securities administrator, respectively, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or the predecessor securities administrator shall become effective and such successor trustee or successor securities administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee or securities administrator, respectivelyas applicable, herein. The predecessor trustee shall deliver to the successor trustee all Trustee Mortgage Files and documents and statements related to each Trustee all Mortgage File Files held by it hereunder, and shall duly assign, transfer, deliver and pay over to the successor trustee, trustee the entire Issuing EntityTrust Fund, together with all necessary instruments of transfer and assignment or other documents properly executed necessary to effect such transfer and such of the records record or copies thereof maintained by the predecessor trustee in the administration hereof as may be requested by the successor trustee and shall thereupon be discharged from all duties and responsibilities under this Agreement. In addition, the Depositor Master Servicer and the predecessor trustee or predecessor securities administrator, as applicable, shall execute and deliver such other instruments and do such other things as may reasonably be required to more fully and certainly vest and confirm in the successor trustee or successor securities administrator, respectively, all such rights, powers, duties and obligations.

Successor Trustee or Successor Securities Administrator. (a) 137 Any successor trustee or successor securities administrator appointed as provided in Section 6.06 8.07 shall execute, acknowledge and deliver to the Depositor Master Servicer, the Certificate Insurer and to its predecessor trustee or predecessor securities administrator, respectively, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or the predecessor securities administrator shall become effective and such successor trustee or successor securities administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or securities administrator, respectivelyherein. The predecessor trustee shall after payment of its outstanding fees and expenses, promptly deliver to the successor trustee or successor securities administrator all Trustee Mortgage Files assets and documents and statements related to each Trustee Mortgage File records of the Trust Fund held by it hereunder, and shall duly assign, transfer, deliver and pay over to the successor trustee, the entire Issuing Entity, together with all necessary instruments of transfer and assignment or other documents properly executed necessary to effect such transfer and such of the records or copies thereof maintained by the predecessor trustee in the administration hereof as may be requested by the successor trustee and shall thereupon be discharged from all duties and responsibilities under this Agreement. In addition, the Depositor Master Servicer and the predecessor trustee or predecessor securities administrator, as applicable, shall execute and deliver all such other instruments and do such other things as may reasonably be required to for more fully and certainly vest vesting and confirm confirming in the successor trustee or successor securities administrator, respectively, administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 8.06. Upon acceptance of appointment by successor trustee or successor securities administrator as provided in this Section, the Master Servicer shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Master Servicer fails to mail such notice within ten days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Master Servicer.