Common use of Assumption or Termination of Sub Clause in Contracts

Assumption or Termination of Sub. Servicing Agreement by Trustee. In connection with the assumption of the responsibilities, duties and liabilities and of the authority, power and rights of the Servicer hereunder by the Trustee pursuant to Section 7.02 or another successor Servicer, 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 shall be assumed simultaneously by the Trustee or another successor Servicer without act or deed on the part of the Trustee; provided, however, that the Trustee or any other successor Servicer may terminate the Sub-Servicer. The Servicer shall, upon the reasonable request of the Trustee, 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 by it 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 TrusteeTrust Administrator. In connection with the assumption of the responsibilities, duties and liabilities and of the authority, power and rights of the Servicer hereunder by the Trustee Trust Administrator pursuant to Section 7.02 or another successor Servicer, 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-Sub- Servicer shall be assumed simultaneously by the Trustee Trust Administrator or another successor Servicer without act or deed on the part of the TrusteeTrust Administrator; provided, however, that the Trustee Trust Administrator or any other successor Servicer may terminate the Sub-Servicer. The Servicer shall, upon the reasonable request of the TrusteeTrust Administrator, but at the expense of the Servicer, deliver to the assuming party documents and records relating to each Sub-Sub- Servicing Agreement and an accounting of amounts collected and held by it and otherwise use its best reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreements to the assuming party.