40-615. Obligations of successor to applicant Any successor to an applicant, whether pursuant to any bankruptcy, reorganization or other insolvency proceeding or pursuant to any merger or acquisition, sale or transfer or other business combination by operation of law, agreement of the applicant or otherwise, shall perform and satisfy all obligations of and have the same rights and obligations under this chapter or any financing order as the applicant in the same manner and to the same extent as the applicant, including acting as a servicer and collecting and paying to the person entitled to receive the financing charges and financing revenues.
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