Common use of Addition of Designated Servicing Agreements Clause in Contracts

Addition of Designated Servicing Agreements. (A) Advance Purchaser may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such Servicing Agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture with respect to the Advance Types of Receivables that are designated as eligible pursuant to such Servicing Agreement if (1) the Administrator has certified in writing to the Indenture Trustee that such Servicing Agreement is a Facility Eligible Servicing Agreement, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and approved the designation of the Advance Types of Receivables that are eligible and (3) written notice of such addition has been provided to the Note Rating Agencies for Outstanding Notes. Prior to the addition of any Designated Servicing Agreement, as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority.

Addition of Designated Servicing Agreements. (A) Advance Purchaser HLSS may at any time designate any Facility Eligible Servicing Agreement (except in the case of Ineligible Designated Servicing Agreements which may be any Servicing Agreement) as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such Servicing Agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture with respect to the Advance Types of Receivables that are designated as eligible pursuant to such Servicing Agreement if (1) the Administrator has certified in writing to the Indenture Trustee that such Servicing Agreement is a Facility Eligible Servicing Agreement, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and approved the designation of the Advance Types of Receivables that are eligible and (3) written notice of such addition has been provided to the Note Rating Agencies for the Outstanding Notes. Prior to the addition of any Designated Servicing Agreement, as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s 's Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority.

Addition of Designated Servicing Agreements. (A) Advance Purchaser The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such Servicing Agreement agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture with respect to the Advance Types of Receivables that are designated as eligible pursuant to such Servicing Agreement if (1) the Administrator has certified in writing to the Indenture Trustee that such related Servicing Agreement is a Facility Eligible Servicing AgreementAgreement with respect to at least one Series of Notes, as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and approved the designation of the Advance Types of Receivables that are eligible and (3) written notice of such addition has been provided to the Note Rating Agencies for the Outstanding Notes. For the avoidance of doubt, the Receivables Seller or the Seller may not designate a Facility Eligible Servicing Agreement as a “Designated Servicing Agreement” without the prior written approval of the Administrative Agent in its sole discretion. Prior to the addition of any Designated Servicing Agreement, Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority.

Addition of Designated Servicing Agreements. (A) Advance Purchaser The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement under the Receivables Sale Agreement, whereupon such Servicing Agreement agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture with respect to the Advance Types of Receivables that are designated as eligible pursuant to such Servicing Agreement if (1) the Administrator has certified in writing to the Indenture Trustee that such related Servicing Agreement is a Facility Eligible Servicing AgreementAgreement as certified by the Administrator, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and approved the designation of the Advance Types of Receivables that are eligible and (3) written notice of such addition has been provided to the Note Rating Agencies for Outstanding Notes. For the avoidance of doubt, the Receivables Seller or the Seller may not designate a Facility Eligible Servicing Agreement as a “Designated Servicing Agreement” without the prior written approval of the Administrative Agent in its sole discretion. Prior to the addition of any Designated Servicing Agreement, Agreement as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority.

Addition of Designated Servicing Agreements. (A) Advance Purchaser The Receivables Seller or the Servicer may at any time designate any Facility Eligible Servicing Agreement as a Designated Servicing Agreement Agreement, under the Receivables Sale Agreement, whereupon such Servicing Agreement shall become a “Designated Servicing Agreement” for purposes of this Indenture with respect to the Advance Types of Receivables that are designated as eligible pursuant to such Servicing Agreement if (1) the Administrator has certified in writing to the Indenture Trustee that such Servicing Agreement is a Facility Eligible Servicing Agreement, (2) the Administrative Agent (in its sole discretion) has approved such Servicing Agreement for addition and approved the designation of the Advance Types of Receivables that are eligible and (3) written notice of such addition has been provided to the Note Rating Agencies for Outstanding Notes. Prior to the addition of any Designated Servicing Agreement, as provided in this Section 2.1(c), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any Receivables related to any additional Designated Servicing Agreements is perfected and of first priority.