Assignment of Servicer's Obligations Sample Clauses

Assignment of Servicer's Obligations. The Servicer may not assign its obligations hereunder to any successor unless either (i) the Rating Agency Condition has been satisfied and the PSCWV has approved such assignment, or (ii) the Servicer is replaced by a Successor Servicer pursuant to Section 6.04.
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Assignment of Servicer's Obligations. The Servicer may not assign its rights or obligations hereunder to any successor unless the Rating Agency Condition and any other condition specified in the Financing Order and the Intercreditor Agreement have been satisfied.
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Assignment of Servicer's Obligations. The Servicer may assign any or all of its obligations hereunder to any successor if either (i) the Rating Agency Condition and any other condition specified in the Financing Order have been satisfied, or (ii) the Servicer is replaced by a successor pursuant to Section 5.03 hereof.
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Assignment of Servicer's Obligations. Subject to the provisions of Section 5.06, the Servicer may assign any or all of its obligations hereunder to any successor if either (i) prior written notice has been provided to the Rating Agencies and the then current ratings on any of the Outstanding Transition Bonds will not be withdrawn or downgraded by the Rating Agencies and any other conditions specified in the Financing Order have been satisfied or (ii) the Servicer is replaced by a successor pursuant to Section 5.03 hereof.
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Assignment of Servicer's Obligations. Subject to the conditions set forth in Section 5.03, pursuant to paragraph 13 of the Qualified Rate Order in which the PUC authorizes West Penn to contract with an alternative party to perform West Penn's obligations contemplated in the Qualified Rate Order, the Servicer may assign its obligations hereunder to any electric distribution company (as such term is defined in the Statute) which succeeds to the major part of West Penn's electric distribution business.
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Assignment of Servicer's Obligations. In each Qualified Rate Order the PUC authorizes PECO Energy to contract with an alternative party to perform PECO Energy's obligations contemplated in such Qualified Rate Order, and under each such Qualified Rate Order the Servicer may assign its obligations hereunder to any electric distribution company (as such term is defined in the Statute) which succeeds to the major part of PECO Energy's electric distribution business. Prior to any such assignment, the Servicer shall provide written notice thereof to each of the Rating Agencies.
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Assignment of Servicer's Obligations. Pursuant to paragraph 17 of the Qualified Rate Order in which the PUC authorizes PP&L to contract with an alternative party to perform PP&L's obligations contemplated in the Qualified Rate Order, the Servicer may assign its obligations hereunder to any electric distribution company (as such term is defined in the Competition Act) which succeeds to all or substantially all of PP&L's electric distribution business upon the satisfaction of the requirements specified in Section 5.03.
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Assignment of Servicer's Obligations. Upon written notice to the Trustee, the Servicer may assign a portion of its obligations hereunder to an assignee (A) in accordance with the Intercreditor Agreement with respect to the obligations to maintain and process any account into which initial collections may be deposited and process payments in respect of Transition Charges or (B) subject to the satisfaction of Section 5.03.
Sample 1

Related to Assignment of Servicer's Obligations

  • Servicer’s Obligations The Issuer shall cause the Servicer to comply with Sections 3.10, 3.11, 3.12, 4.10 and Article Eight of the Sale and Servicing Agreement.

  • Servicer Not to Resign; Assignment (a) The Servicer shall not resign from the duties and obligations hereby imposed on it except upon determination by its Board of Directors that by reason of change in applicable legal requirements the continued performance by the Servicer of its duties hereunder would cause it to be in violation of such legal requirements in a manner which would result in a material adverse effect on the Servicer or its financial condition, said determination to be evidenced by a resolution of its Board of Directors to such effect accompanied by an Opinion of Counsel, satisfactory to the Issuer, the Insurer and the Indenture Trustee, to such effect. No such resignation shall become effective unless and until (i) the Indenture Trustee assumes all of the Servicer's obligations under this Agreement or (ii) a new servicer acceptable to the Issuer, the Indenture Trustee and the Insurer is willing to service the Contracts and enters into a servicing agreement with the Issuer, the Indenture Trustee and the Insurer in form and substance substantially similar to this Agreement and satisfactory to the Issuer, the Indenture Trustee and the Insurer, and each Rating Agency confirms that the selection of such new servicer will not result in the qualification, reduction or withdrawal of its then-current rating of each Class of Notes assigned by such Rating Agency. No such resignation by the Servicer shall affect the obligation of the Servicer to repurchase Contracts pursuant to Section 3.07.

  • Successors and Assigns; Assignment of Servicing Agreement This Agreement shall bind and inure to the benefit of and be enforceable by the Servicer, the Seller, the NIMS Insurer and the Master Servicer and their respective successors and assigns. This Agreement shall not be assigned, pledged or hypothecated by the Servicer to a third party except in accordance with Section 7.03 and shall not be assigned, pledged or hypothecated by the Seller without the prior written consent of the NIMS Insurer except as to the extent provided in Section 9.12.

  • CUSTOMER'S OBLIGATIONS 8.1 The Customer shall:

  • Servicing and Subservicing; Enforcement of the Obligations of Servicer (a) The Servicer may arrange for the subservicing of any Mortgage Loan by a subservicer, which may be an affiliate (each, a "subservicer") pursuant to a subservicing agreement (each, a "Subservicing Agreement"); provided, however, that such subservicing arrangement and the terms of the related subservicing agreement must provide for the servicing of such Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Notwithstanding the provisions of any subservicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a subservicer or reference to actions taken through a subservicer or otherwise, the Servicer shall remain obligated and liable to the Depositor, the Trustee and the Certificateholders for the servicing and administration of the Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such subservicing agreements or arrangements or by virtue of indemnification from the subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Mortgage Loans. Every subservicing agreement entered into by the Servicer shall contain a provision giving any successor Servicer the option to terminate such agreement in the event a successor Servicer is appointed. All actions of the each subservicer performed pursuant to the related subservicing agreement shall be performed as an agent of the Servicer with the same force and effect as if performed directly by the Servicer.

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