Common use of Assumption or Termination of Subservicing Agreements by Trustee Clause in Contracts

Assumption or Termination of Subservicing Agreements by Trustee. (a) In the event the Master Servicer shall for any reason no longer be the master servicer hereunder (including by reason of an Event of Default), the Trustee, its designee or its successor shall thereupon assume, at its sole discretion, all of the rights and obligations of the Master Servicer under each Subservicing Agreement that may have been entered into. If the Trustee so elects, the Trustee, its designee or the successor servicer for the Trustee shall be deemed to have assumed all of the Master Servicer's interest therein and to have replaced the Master Servicer as a party to the Subservicing Agreement to the same extent as if the