Common use of Transfer of Authority Clause in Contracts

Transfer of Authority. On the effective date of the Servicer’s resignation or termination or the later date that the Servicer stops performing its obligations, all rights and obligations of the Servicer under this Agreement and of the Administrator under the Administration Agreement will become the rights and obligations of the successor Servicer, including as successor Administrator.

Transfer of Authority. On the effective date of the Servicer’s 's resignation or termination or the later date that the Servicer stops performing its obligations, all rights and obligations of the Servicer under this Agreement and of the Administrator under the Administration Agreement will become the rights and obligations of the successor Servicer, including as successor Administrator.

Transfer of Authority. On the effective date of the Servicer’s resignation or termination or the later date that the Servicer stops performing ceases to perform its obligations, all rights and obligations of the Servicer under this Agreement and of the Administrator under the Administration Agreement will become the rights and obligations of the successor Servicer, including as successor Administrator.

Transfer of Authority. On the effective date of the Servicer’s resignation or termination or the later date that the Servicer stops performing its obligations, all rights and obligations of the Servicer under this Agreement and the related Servicing Supplement, to the extent of the Administrator under the Administration Agreement rights terminated, will become the rights and obligations of the successor Servicer, including as successor Administrator.

Transfer of Authority. On the effective date of the Servicer’s 's resignation or termination or the later date that the Servicer stops performing its obligations, all rights and obligations of the Servicer under this Agreement and the related Servicing Supplement, to the extent of the Administrator under the Administration Agreement rights terminated, will become the rights and obligations of the successor Servicer, including as successor Administrator.