Common use of Transfer of Duties Clause in Contracts

Transfer of Duties. It is understood and agreed by the parties hereto that any Servicer may transfer its servicing duties hereunder to (i) any of its Affiliates or (ii) to any other Person which is an Eligible Servicer if, in either case, each Rating Agency for each outstanding Series of Notes has advised the Indenture Trustee in writing that the rating of the related Class(es) of Notes will not be lowered or withdrawn as a result of such transfer; provided that, in either case, the AIG Support Agreement shall remain in effect with respect to such Affiliate or Person. No such transfer shall become effective until such Affiliate or Person shall have assumed the responsibilities and obligations of such Servicer in accordance with Section 10.02 hereof.

Transfer of Duties. It is understood and agreed by the parties hereto that any the Servicer may transfer its servicing duties hereunder to (i) any of its Affiliates which is an Eligible Servicer or (ii) to any other Person which is an Eligible Servicer if, in either case, each Rating Agency for each outstanding Series of Notes Certificates has advised the Indenture Trustee in writing that the rating of the related Class(es) of Notes Investor Certificates will not be lowered or withdrawn as a result of such transfer; provided that, in either case, the AIG AIC Support Agreement shall remain in effect with respect to such Affiliate or Person. No such transfer shall become effective until such Affiliate or Person shall have assumed the responsibilities and obligations of such the Servicer in accordance with Section 10.02 hereof.