Common use of Replacement of Trustee or Certificate Administrator Clause in Contracts

Replacement of Trustee or Certificate Administrator. No resignation or removal of the Trustee or the Certificate Administrator and no appointment of a successor Trustee or successor Certificate Administrator shall become effective until the acceptance of appointment by the successor Trustee or successor Certificate Administrator pursuant to this Section 8.

Appears in 7 contracts

Sources: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp)