Common use of Assumption or Termination of Sub-Servicing Agreement by Trustee Clause in Contracts

Assumption or Termination of Sub-Servicing Agreement by Trustee. Subject to the second paragraph of Section 8.4 hereof, in connection with the assumption of the responsibilities, duties and liabilities and of the authority, power and rights of the Servicer hereunder pursuant to Section 8.18 hereof, it is understood and agreed that the Servicer's rights and obligations under any Sub-Servicing Agreement then in force between the Servicer and a Sub-Servicer may be assumed or terminated by the assuming party at its option. The Servicer shall, upon request of the Trustee or of the Backup Servicer, but at the expense of the Servicer, deliver to the assuming party documents and records relating to each Sub-Servicing Agreement and an accounting of amounts collected and held thereunder and otherwise use its best reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreements to the assuming party.

Assumption or Termination of Sub-Servicing Agreement by Trustee. Subject to the second paragraph of Section 8.4 hereof, in connection with the assumption of the responsibilities, duties and liabilities and of the authority, power and rights of the Servicer hereunder pursuant to Section 8.18 8.19 hereof, it is understood and agreed that the Servicer's rights and obligations under any Sub-Servicing Agreement then in force between the Servicer and a Sub-Servicer may be assumed or terminated by the assuming party at its option. The Servicer shall, upon request of the Trustee or of the Backup Servicer, but at the expense of the Servicer, deliver to the assuming party documents and records relating to each Sub-Servicing Agreement and an accounting of amounts collected and held thereunder and otherwise use its best reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreements to the assuming party.