Servicing of Receivables. The Master Servicer shall service the Receivables as required by the terms of this Agreement and in material compliance with its standard and customary procedures for servicing all its other comparable motor vehicle receivables and in compliance with applicable law; and
Servicing of Receivables. So long as no Event of Servicer Termination shall have occurred and be continuing and no Successor Servicer has assumed the responsibilities and obligations of the Servicer pursuant to Section 9.02, the Servicer shall (i) conduct the servicing, administration and collection of the Transferred Receivables and shall take, or cause to be taken, all such actions as may be necessary or advisable to service, administer and collect the Transferred Receivables, all in accordance with (A) the terms of this Agreement, (B) customary and prudent servicing procedures for trade receivables of a similar type and (C) all applicable laws, rules and regulations, and (ii) hold all Contracts and other documents and incidents relating to the Transferred Receivables in trust for the benefit of Buyer, as the owner thereof, and for the sole purpose of facilitating the servicing of the Transferred Receivables in accordance with the terms of this Agreement. Buyer hereby instructs the Servicer, and the Servicer hereby acknowledges, that the Servicer shall hold all Contracts and other documents relating to such Transferred Receivables in trust for the benefit of the Buyer and the Servicer’s retention and possession of such Contracts and documents shall at all times be solely in a custodial capacity for the benefit of the Buyer and its assigns and pledgees.
Servicing of Receivables. So long as no Event of Servicer Termination shall have occurred and be continuing and no Successor Servicer has assumed the responsibilities and obligations of the Servicer pursuant to Section 11.02 of the Funding Agreement, the Servicer shall (i) conduct the servicing, administration and collection of the Transferred Receivables and shall take, or cause to be taken, all such actions as may be necessary or advisable to service, administer and collect the Transferred Receivables, all in accordance with (A) the terms of the Funding Agreement, (B) customary and prudent servicing procedures for trade receivables of a similar type and (C) all applicable laws, rules and regulations, and (ii) hold all Contracts and other documents and incidents relating to the Transferred Receivables in trust for the benefit of Buyer, as the owner thereof, and for the sole purpose of facilitating the servicing of the Transferred Receivables in accordance with the terms of the Funding Agreement.
Servicing of Receivables. TRS is the Servicer of the Purchased Assets pursuant to the Servicing Agreement. TRS agrees that FSB shall not be responsible for the payment of any fees for servicing the Purchased Assets sold by FSB to TRS under this Agreement. [END OF ARTICLE III]
Servicing of Receivables. The servicing, administering and collection of the Receivables shall be conducted by BusLease, who hereby agrees to perform, take or cause to be taken all such action as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations and with the care and diligence which BusLease employs in servicing similar receivables for its own account, in accordance with the Credit and Collection Policy. The Purchaser hereby appoints BusLease as its agent to enforce the Purchaser's rights and interests in, to and under the Receivables, together with the Leased Vehicles and the Collections with respect thereto. Notwithstanding anything to the contrary contained herein, from and after the occurrence of a Servicer Termination Event, the Purchaser shall, at the request of SPARC, the Secondary Purchaser or the Administrative Agent, terminate BusLease servicing activities described in this Section 2.2 and shall appoint a successor Servicer acceptable to or as directed by SPARC, the Secondary Purchaser or the Administrative Agent, as applicable. In consideration of the foregoing, the Purchaser agrees to pay BusLease a servicing fee of [**] percent ([**]%) per annum on the aggregate amount of Receivables sold, payable monthly, for its performance of the duties and obligations described in this Section 2.2; PROVIDED that any such monthly payment shall be reduced by any amounts payable in such month to BusLease in accordance with Section 2.03(c)(ii) of the Receivables Purchase Agreement or the Secondary Purchase Agreement, as applicable. The obligations of BusLease hereunder in the administration, servicing and collection of Receivables may be delegated from time to time by BusLease to any of its Affiliates; PROVIDED that no such delegation of duties shall relieve BusLease of any of its duties and obligations hereunder.
Servicing of Receivables. The Credit Parties shall ensure that the Receivables are at all times serviced and administered in accordance with the Servicing Standard by the Servicer pursuant to the Servicing Agreement. The Credit Parties shall enter into the Backup Servicing Agreement forthwith upon request of the Administrative Agent.
Servicing of Receivables. TRS is the Servicer of the Purchased Assets pursuant to the Servicing Agreement. TRS agrees that Centurion shall not be responsible for the payment of any fees for servicing the Purchased Assets sold by Centurion to TRS under this Agreement. [END OF ARTICLE III]
Servicing of Receivables. The servicing, administering and collection of the Receivables shall be conducted by MxXxx'x, which hereby agrees to perform, take or cause to be taken all such action as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations and with the care and diligence which MxXxx'x employs in servicing similar receivables for its own account, in accordance with the Credit Guidelines. With the consent of the Agent and the Purchaser, MxXxx'x may delegate certain functions to Pxxxxxxx'x, however, no such delegation shall relieve MxXxx'x of its obligations hereunder. The Purchaser hereby appoints the Servicer as its agent to enforce the Purchaser's rights and interests in, to and under the Receivables, the Related Security and the Collections with respect thereto. The Servicer shall hold in trust for the Purchaser, in accordance with its interests, all Records which evidence or relate to the Receivables or Related Security, Collections and proceeds with respect thereto. Notwithstanding anything to the contrary contained herein, from and after the occurrence of a Termination Event or a Servicer Default (each as defined in the Transfer Agreement), the Agent or Enterprise, shall have the absolute and unlimited right to terminate the MxXxx'x servicing activities described in this Section 2.2. In consideration of the foregoing, the Purchaser agrees to pay the Servicer a servicing fee of 2.00% per annum on the aggregate Out- standing Principal Balance of Receivables sold, payable monthly, for its performance of the duties and obligations described in this Section 2.2; provided that any such monthly payment shall be reduced by any amounts payable in such month by Enterprise or the Bank Investors to the Servicer, in its capacity as Servicer pursuant to the Transfer Agreement. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
Servicing of Receivables. Notwithstanding the sale of Conveyed Receivables pursuant to this Agreement, GP, for so long as it acts as Servicer under the Second Tier Agreement, shall continue to be responsible for the servicing, administration and collection of the Conveyed Receivables, all on the terms set out in (and subject to any rights to terminate the initial Servicer as servicer pursuant to) the Second Tier Agreement.
Servicing of Receivables. All payments or monies received by Seller or its affiliated or third party contractors with respect to the payment of any Receivable or Future Receivable have been properly applied. Each Account has been maintained and serviced by Seller in accordance with Seller's Policies and Procedures as well as all Requirements of Law.
