Appointment and Acceptance as Servicer. Effective as of the Closing Date, but subject to Section 3.3 of the Contribution Agreement (with which the Manager agrees to comply), the Manager is hereby appointed (and hereby accepts the appointment) with full authority and responsibility, in its own name, to act as the servicer for the Loans and any Underlying Collateral. Until such time as the Company is dissolved and liquidated pursuant to Article IX, and except as otherwise provided in Section 12.4 and subject to the interim servicing being provided by the Initial Member pursuant to Section 3.3 of the Contribution Agreement, the Manager shall, with respect to each Loan or Group of Loans, from and after the Servicing Transfer Date with respect thereto, be responsible for (and hereby assumes responsibility for) servicing, administering, managing and disposing of the Loans and the Underlying Collateral in accordance with the standards (collectively, the “Servicing Standard”) set forth in Section 12.2 (such obligations referred to collectively herein as the “Servicing Obligations”) and the other provisions of this Article XII, including the provisions of Section 12.3 (which require that servicing be performed through one or more Qualified Servicers). Without in any way limiting the foregoing, but subject to Section 3.3 of the Contribution Agreement, the Manager shall cause the Loans (including, for all purposes under this Article XII, the related Underlying Collateral) to be serviced as follows: (a) such Loan shall, except as provided in the immediately following subsection (b), be serviced by the Servicer(s) appointed in accordance with Section 12.3 below, and (b) following the replacement of Servicer as a result of an Event of Default, the Loans shall be serviced by the Servicer appointed by the Initial Member in accordance with Section 12.4 below. All servicing of Loans following the Closing Date shall be performed in accordance with the terms of the Contribution Agreement and this Article XII.
Appointment and Acceptance as Servicer. Effective as of the date hereof (and, with respect to each Asset or Group of Assets, as of the applicable Servicing Transfer Date with respect thereto), the Manager appoints the Servicer to service, administer, manage and dispose of the Assets and the Collateral on behalf of and as an agent of the Manager.
Appointment and Acceptance as Servicer. Effective as of the Cut-Off Date, the Company is appointed (and accepts the appointment as) servicer for the Loans and any Collateral (sometimes referred to herein as the “servicer”).
Appointment and Acceptance as Servicer. Effective as of the Closing Date, but subject to Section 3.3 of the Contribution Agreement (with which the Manager agrees to comply), the Manager is hereby appointed (and hereby accepts the appointment) with full authority and responsibility, in its own name, to act as the servicer for the Loans and any Underlying Collateral. Until such time as the Company is dissolved and liquidated pursuant to Article IX, and except as otherwise provided in Section 12.4 and subject to the interim servicing being provided by the Initial Member pursuant to Section 3.3 of the Contribution Agreement, the Manager shall, with respect to each Loan or Group of Loans, from and after the Servicing Transfer Date with respect thereto, be responsible for (and hereby assumes responsibility for) servicing, administering, managing and disposing of the Loans and the Underlying Collateral in accordance with the standards (collectively, the “Servicing Standard”) set forth in Section 12.2 (such obligations referred to collectively herein as the “Servicing Obligations”) and the other provisions of this Article XII, including the provisions of
Appointment and Acceptance as Servicer. Effective as of the date hereof, the Company appoints the Servicer to service and administer the Loans and any Collateral on behalf of and as an agent of the Company.
