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

Wachovia Bank Not to Resign as Master Servicer. Subject to the provisions of Section 6.03, Wachovia Bank shall not resign from the obligations and duties imposed on it pursuant hereto as Master Servicer under this Agreement except upon determination that the performance of its duties hereunder is no longer permissible under applicable law. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Depositor, the Swap Counterparty and the Trustees. No such resignation shall become effective until the Indenture Trustee or a Successor Master Servicer shall have (i) assumed the obligations and duties of the Master Servicer in accordance with Section 7.02, (ii) become the Administrator under the Administration Agreement pursuant to Section 1.20 thereof and (iii) provided such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to a Successor Master Servicer.

Wachovia Bank Not to Resign as Master Servicer. Subject to the provisions of Section 6.03, Wachovia Bank shall not resign from the obligations and duties imposed on it pursuant hereto as Master Servicer under this Agreement except upon determination that the performance of its duties hereunder is no longer permissible under applicable law. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Depositor, the Swap Counterparty Depositor and the Trustees. No such resignation shall become effective until the Indenture Trustee or a Successor Master Servicer shall have (i) assumed the obligations and duties of the Master Servicer in accordance with Section 7.02, (ii) become the Administrator under the Administration Agreement pursuant to Section 1.20 thereof and (iii) provided such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to a Successor Master Servicer.

Wachovia Bank Not to Resign as Master Servicer. Subject to the provisions of Section 6.03, Wachovia Bank shall not resign from the obligations and duties imposed on it pursuant hereto as Master Servicer under this Agreement except upon determination that the performance of its duties hereunder is no longer permissible under applicable law. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Depositor, the Swap Counterparty Depositor and the Trustees. No such resignation shall become effective until the Indenture Trustee or a Successor Master Servicer shall have (i) assumed the obligations and duties of the Master Servicer in accordance with Section 7.02, (ii) become the Administrator under the Administration Agreement pursuant to Section 1.20 thereof and (iii) provided such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to a Successor Master Servicer.

Wachovia Bank Not to Resign as Master Servicer. Subject to the provisions of Section 6.03, Wachovia Xxxxxxxx Bank shall not resign from the obligations and duties imposed on it pursuant hereto as Master Servicer under this Agreement except upon determination that the performance of its duties hereunder is no longer permissible under applicable law. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Depositor, the Swap Counterparty and the Trustees. No such resignation shall become effective until the Indenture Trustee or a Successor Master Servicer shall have (i) assumed the obligations and duties of the Master Servicer in accordance with Section 7.02, (ii) become the Administrator under the Administration Agreement pursuant to Section 1.20 thereof and (iii) provided such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to a Successor Master Servicer.