Common use of Trustee to Act as Servicer Clause in Contracts

Trustee to Act as Servicer. Subject to Section 7.02, in the event that either Servicer shall for any reason no longer be a Servicer hereunder (including by reason of an Event of Default), the Trustee or its successor shall thereupon assume all of the rights and obligations of such Servicer hereunder arising thereafter (except that the Trustee shall not be (i) liable for losses of such predecessor Servicer pursuant to Section 3.10 or any acts or omissions of such predecessor Servicer hereunder), (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans hereunder, including but not limited to repurchases or substitutions pursuant to Section 2.03, (iii) responsible for expenses of such predecessor Servicer pursuant to Section 2.03 or (iv) deemed to have made any representations and warranties of such Servicer hereunder. Any such assumption shall be subject to Section 7.

Trustee to Act as Servicer. (a) Subject to Section 7.02, in the event that either any Servicer shall for any reason no longer be a Servicer hereunder (including by reason of an Event of Default), the Trustee or its successor shall thereupon assume all of the rights and obligations of such Servicer hereunder hereunder, as applicable, arising thereafter (except that the Trustee shall not be (i) liable for losses of such predecessor Servicer servicer pursuant to Section 3.10 or any acts or omissions of such predecessor Servicer servicer hereunder), (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans hereunder, hereunder including but not limited to repurchases or substitutions pursuant to Section 2.03, (iii) responsible for expenses of such predecessor Servicer pursuant to Section 2.03 or (iv) deemed to have made any representations and warranties of such Servicer hereunder. Any such assumption shall be subject to Section 77.02.

Trustee to Act as Servicer. (a) Subject to Section 7.02, in the event that either the Servicer shall for any reason no longer be a the Servicer hereunder (including by reason of an Event of Default), the Trustee or its successor shall thereupon assume all of the rights and obligations of such the Servicer hereunder arising thereafter (except that the Trustee shall not be (i) liable for losses of such the predecessor Servicer pursuant to Section 3.10 or any acts or omissions of such the predecessor Servicer hereunder), (ii) obligated to effectuate repurchases or substitutions of Mortgage Loans hereunder, including but not limited to repurchases or substitutions pursuant to Section 2.03, (iii) responsible for expenses of such the predecessor Servicer pursuant to Section 2.03 or (iv) deemed to have made any representations and warranties of such the Servicer hereunder. Any such assumption shall be subject to Section 77.02.