Merger or Consolidation of the Depositor. the Company or the Master Servicer. (a) Each of the Depositor, the Company and the Master Servicer will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its duties under this Agreement. (b) Any Person into which the Depositor, the Company or the Master Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Depositor, the Company or the Master Servicer shall be a party, or any Person succeeding to the business of the Depositor, the Company or the Master Servicer, shall be the successor of the Depositor, the Company or the Master Servicer hereunder, without the execution or filing of any paper or further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Asset-Backed Certificates Series 2003-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)