Common use of The Bank Not to Resign as Servicer Clause in Contracts

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 and 6.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and the Indenture Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and Issuer, the Indenture Trustee and Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and Issuer, the Indenture Trustee and Owner Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and the Indenture Trustee and Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and Issuer, the Indenture Trustee and Owner Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and Issuer, the Indenture Trustee, the Delaware Trustee, and Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and Issuer, the Delaware Trustee, the Indenture Trustee and Owner Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 and 6.5Section 8.3, the Bank will Bank, hereby agrees not to resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is hereunder shall no longer be permissible under applicable lawlaw or if such resignation is required by regulatory authorities. Notice of any such determination permitting the resignation of the Bank will as Servicer shall be communicated to the Issuer Trustee and the Indenture Trustee Collateral Agent at the earliest practicable time (and, if such communication is not in writing, will shall be confirmed in writing at the earliest practicable time) and any such determination will shall be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and the Indenture Trustee concurrently with or promptly after such notice. No such resignation will shall become effective until the earlier of the Trustee or a successor Servicer has (i) having assumed the responsibilities and obligations of the Bank as resigning Servicer and (ii) provided in writing accordance with Section 9.2 or the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicerdate upon which any regulatory authority requires such resignation.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer Issuer, the Indenture Trustee, and the Indenture Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer Issuer, the Indenture Trustee and the Indenture Owner Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and the Indenture Trustee, the Delaware Trustee and Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and Issuer, the Delaware Trustee, the Indenture Trustee and Owner Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and Issuer, the Grantor Trust, the Grantor Trust Trustee, the Indenture Trustee and Owner Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and Issuer, the Grantor Trust, the Grantor Trust Trustee, the Indenture Trustee and Owner Trustee concurrently with or promptly after such notice. No such resignation will resignation‌ shall become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 5.3 and 6.55.5, the Bank will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except (i) upon determination that the performance of its duties under this Agreement is no longer permissible under applicable lawlaw or (ii) upon satisfaction of the Rating Agency Condition in the event of the appointment of a successor servicer. Notice of any such determination permitting the resignation of the Bank will be communicated to the Issuer and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and the Indenture Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of the Bank as Servicer and (ii) provided in writing the information reasonably requested by the Seller Depositor to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicer.

The Bank Not to Resign as Servicer. Subject to the provisions of Sections 6.3 and 6.5Section 7.3, the Bank will hereby agrees not to resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is hereunder shall no longer be permissible under applicable lawlaw or if such resignation is required by regulatory authorities. Notice of any such determination permitting the resignation of the Bank will Bank, as Servicer shall be communicated to the Issuer Owner Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, will shall be confirmed in writing at the earliest practicable time) and any such determination will shall be evidenced by an Opinion of Counsel to such effect delivered to the Issuer Owner Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such resignation will shall become effective until the earlier of the Trustee or a successor Successor Servicer has (i) having assumed the responsibilities and obligations of the Bank as resigning Servicer and (ii) provided in writing accordance with Section 8.2 or the information reasonably requested by the Seller to comply with its reporting obligations under the Exchange Act with respect to a replacement Servicerdate upon which any regulatory authority requires such resignation.