Common use of Assignment by the Owner Clause in Contracts

Assignment by the Owner. The Owner shall have the right, without the consent of the Servicer but subject to the limits set forth in this Agreement hereof, to assign its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Owner hereunder and the assignee or designee shall accede to the rights and obligations hereunder of the Owner with respect to such Mortgage Loans. The Servicer shall not be obligated to recognize any such assignee or designee unless such person executes an assignment and assumption agreement reasonably acceptable to the Servicer. All references to the Owner in this Agreement shall be deemed to include its assignees or designees. The parties hereto contemplate that the Owner shall assign its interest under this Agreement with respect to the Mortgage Loans to the Issuer, pursuant to that certain Assignment, Assumption and Recognition Agreement, dated as of August 30, 2005, among the Owner, the Servicer and the Issuer.

Assignment by the Owner. The Owner shall have the right, without the consent of the Servicer but subject to the limits set forth in this Agreement hereof, to assign its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Owner hereunder and the assignee or designee shall accede to the rights and obligations hereunder of the Owner with respect to such Mortgage Loans. The Servicer shall not be obligated to recognize any such assignee or designee unless such person executes an assignment and assumption agreement reasonably acceptable to the Servicer. All references to the Owner in this Agreement shall be deemed to include its assignees or designees. The parties hereto contemplate that the Owner shall assign its interest under this Agreement with respect to the Mortgage Loans to the Issuer, pursuant to that certain Assignment, Assumption and Recognition Agreement, dated as of August 30March 18, 2005, among the Owner, the Servicer and the Issuer.

Assignment by the Owner. The Owner shall have the right, without the consent of the Servicer but subject to the limits set forth in this Agreement hereof, to assign its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Owner hereunder and the assignee or designee shall accede to the rights and obligations hereunder of the Owner with respect to such Mortgage Loans. The Servicer shall not be obligated to recognize any such assignee or designee unless such person executes an assignment and assumption agreement reasonably acceptable to the Servicer. All references to the Owner in this Agreement shall be deemed to include its assignees or designees. The parties hereto contemplate that the Owner shall assign its interest under this Agreement with respect to the Mortgage Loans to the Issuer, pursuant to that certain Assignment, Assumption and Recognition Agreement, dated as of August 30May 27, 2005, among the Owner, the Servicer and the Issuer.