Trustee to Act as Servicer. If the Servicer shall for any reason no longer be the Servicer hereunder (including by reason of an Event of Default), the Trustee shall thereupon assume, if it so elects, or shall appoint a successor Servicer to assume, all of the rights and obligations of the Servicer hereunder arising thereafter (except that the Trustee shall not be (a) liable for losses of the Servicer pursuant to Section 3.12 or any acts or omissions of the predecessor Servicer hereunder, (b) obligated to make Advances if it is prohibited from doing so by applicable law or (c) deemed to have made any representations and warranties of the Servicer hereunder). Any such assumption shall be subject to Section 7.
Appears in 39 contracts
Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, LLC), Pooling and Servicing Agreement (Wachovia Asset Funding Trust, LLC), Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mor Pa Th Cert Ser 2002-F)
Trustee to Act as Servicer. If the Servicer shall for any reason no longer be the Servicer hereunder (including by reason of an Event of Default), the Trustee shall thereupon thereupon, assume, if it so elects, or shall appoint a successor Servicer to assume, all of the rights and obligations of the Servicer hereunder arising thereafter (except that the Trustee shall not be (a) liable for losses of the Servicer pursuant to Section 3.12 or any acts or omissions of the predecessor Servicer hereunder, (b) obligated to make Advances if it is prohibited from doing so by applicable law or (c) deemed to have made any representations and warranties of the Servicer hereunder). Any such assumption shall be subject to Section 7.
Appears in 15 contracts
Samples: Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mort Ps THR CRT Ser 2002-10), Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mort Ps THR Cert Ser 2002-3), Pooling and Servicing Agreement (Bank of America Mor Sec Inc Mor Pass Through Cert Ser 2001-6)
Trustee to Act as Servicer. If the either Servicer shall for any reason no longer be the a Servicer hereunder (including by reason of an Event of Default), the Trustee shall thereupon assume, if it so elects, or shall appoint a successor Servicer to assume, all of the rights and obligations of the such Servicer hereunder arising thereafter (except that the Trustee shall not be (a) liable for losses of the such Servicer pursuant to Section 3.12 or any acts or omissions of the predecessor Servicer hereunder, (b) obligated to make Advances if it is prohibited from doing so by applicable law or (c) deemed to have made any representations and warranties of the such Servicer hereunder). Any such assumption shall be subject to Section 7.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Bank of America Mortgage Securities Inc), Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp), Pooling and Servicing Agreement (Bank of America Mort Secs Inc Mort Pas Thru Cert Sers 1999-7)
