Common use of Trustee to Act as Servicer Clause in Contracts

Trustee to Act as Servicer. In the event that the Servicer shall for any reason no longer be the Servicer pursuant to Section 7.01 (including by reason of an Event of Default), the Trustee or its successor shall, subject to the rights of the Depositor to appoint a successor Servicer pursuant to Section 7.02, thereupon assume all of the rights and obligations of the Servicer hereunder arising thereafter (except that the Trustee shall not be (i) liable for investment losses of the predecessor Servicer pursuant to the Master Seller's Warranties and Servicing Agreement or any acts or omissions of the predecessor Servicer thereunder, (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans under the Master Seller's Warranties and Servicing Agreement, including but not limited to repurchases or substitutions pursuant to Section 3.3 of the Master Seller's Warranties and Servicing Agreement, (iii) responsible for expenses of the predecessor Servicer pursuant to Article II the Master Seller's Warranties and Servicing Agreement or (iv) deemed to have made any representations and warranties of the Servicer under the Master Seller's Warranties and Servicing Agreement).

Trustee to Act as Servicer. In the event that the Servicer shall for any reason no longer be the Servicer pursuant to Section 7.01 (including by reason of an Event of Default), the Trustee or its successor shall, subject to the rights of the Depositor to appoint a successor Servicer pursuant to Section 7.02, thereupon assume all of the rights and obligations of the Servicer hereunder arising thereafter (except that the Trustee shall not be (i) liable for investment losses of the predecessor Servicer pursuant to the Master Seller's Warranties and Servicing Agreement or any acts or omissions of the predecessor Servicer thereunder, (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans under the Master Seller's Warranties and Servicing Agreement, including but not limited to repurchases or substitutions pursuant to Section 3.3 of the Master Seller's Warranties and Servicing Agreement, (iii) responsible for expenses of the predecessor Servicer pursuant to Article II the Master Seller's Warranties and Servicing Agreement or (iv) deemed to have made any representations and warranties of the Servicer under the Master Seller's Warranties and Servicing Agreement).

Trustee to Act as Servicer. In the event that the Servicer shall for any reason no longer be the Servicer pursuant to Section 7.01 (including by reason of an Event of Default), the Trustee or its successor shall, subject to the rights of the Depositor to appoint a successor Servicer pursuant to Section 7.02, thereupon assume all of the rights and obligations of the Servicer hereunder arising thereafter (except that the Trustee shall not be (i) liable for investment losses of the predecessor Servicer pursuant to the Master Seller's Warranties and Servicing Agreement or any acts or omissions of the predecessor Servicer thereunder, (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans under the Master Seller's Warranties and Servicing Agreement, including but not limited to repurchases or substitutions pursuant to Section 3.3 3.03 of the Master Seller's Warranties and Servicing Agreement, (iii) responsible for expenses of the predecessor Servicer pursuant to Article II or Section 12.16 of the Master Seller's Warranties and Servicing Agreement or (iv) deemed to have made any representations and warranties of the Servicer under the Master Seller's Warranties and Servicing Agreement).