Common use of Trustee to Act as Master Servicer Clause in Contracts

Trustee to Act as Master Servicer. If the Master Servicer shall for any reason no longer be the Master Servicer hereunder (including by reason of an Event of Default), the Trustee shall thereupon assume, if it so elects, or shall appoint a successor Master Servicer to assume, all of the rights and obligations of the Master Servicer hereunder arising thereafter (except that the Trustee shall not be (a) liable for losses of the Master Servicer pursuant to Section 3.12 or any acts or omissions of the predecessor Master Servicer hereunder, (b) obligated to make Advances if it is prohibited from doing so by applicable law or (c) deemed to have made any representations and warranties of the Master Servicer hereunder). Any such assumption shall be subject to Section 7.

Trustee to Act as Master Servicer. If In the event that the Master Servicer shall for any reason no longer be the Master Servicer hereunder (including by reason of an Event of a Master Servicing Default), the Trustee shall thereupon assume, if it so elects, or shall appoint unless a successor Master Servicer acceptable to assumeFSA (after consultation with the Trustee) has been appointed pursuant to Section 6(c) or Section 7, the Trustee or its successor shall thereupon succeed to all of the rights and assume all of the obligations of the Master Servicer hereunder arising thereafter (thereafter, except that the Trustee shall not be (ai) liable for losses of the Master Servicer pursuant to Section 3.12 or any acts or omissions of the predecessor Master Servicer as such hereunder, (bii) obligated to make Servicing Advances or Monthly Advances if it is prohibited from doing so by applicable law law, or (ciii) deemed to have made any representations and warranties of the Master Servicer hereunder). Any such assumption shall be subject to Section 77(b).