Authority of the Servicer Sample Clauses

Authority of the Servicer. (a) In performing its Loan Servicing obligations hereunder, the Servicer shall, except as otherwise provided herein and subject to the terms of this Agreement, have full power and authority, acting alone or through others (including Subservicers), to take any and all actions in connection with such Loan Servicing that it deems necessary or appropriate. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Owner when the Servicer deems it appropriate in its best judgment, to execute and deliver, on behalf of the Owner, (i) any and all financing statements, continuation statements and other documents or instruments necessary to maintain any liens on any related collateral for each of the Loan Assets, including, without limitation, the lien of each Mortgage on the related Mortgaged Property and any other related collateral; and (ii) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments with respect to each of the Loan Assets; provided, however, that the Servicer shall notify the Owner in writing in the event that the Servicer intends to execute and deliver any such instrument referred to in this clause (ii) and, except in connection with any payment in full of any Loan Asset or payment of the full discounted payoff amount for any Loan Asset consented to by the Owner in writing, shall proceed with such course of action only upon receipt of the Owner’s written approval thereof; (iii) loan payoff statements and loan balance statements; and (iv) documents to evidence or effectuate Loan Servicing matters; provided, however, that the Servicer shall notify the Owner in writing in the event that the Servicer intends to execute and deliver any such instrument referred to in this clause (iii) and, except in connection with Non-Material Loan Servicing Matters, shall proceed with such course of action only upon receipt of the Owner’s written approval thereof. The ability to execute documents on behalf of the Owner as provided in this Agreement is personal to the Servicer and may not be delegated to a Subservicer unless specifically provided in this Agreement.
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Authority of the Servicer. (a) In performing its Loan Servicing obligations hereunder, the Servicer shall, except as otherwise provided herein and subject to the terms of this Agreement, have full power and authority, acting alone or through others, to take any and all actions in connection with such Loan Servicing that it deems necessary or appropriate. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Owner when the Servicer deems it appropriate in its best judgment, to execute and deliver, on behalf of the Owner, (a) any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien of each Mortgage on the related Mortgaged Property and any other related collateral; and (b) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments with respect to each of the Mortgage Loans; provided, however, that the Servicer shall notify the Owner in -------- ------- writing prior to entering into material discussions with the related Borrower with respect to any such instrument referred to in clause (b) above, and, except in connection with any payment in full of any Mortgage Loan, shall proceed with such course of action only upon receipt of the Owner's written approval thereof. The Owner agrees to cooperate with the Servicer by either executing and delivering to the Servicer from time to time (i) powers of attorney evidencing the Servicer's authority and power under this Section, or (ii) such documents or instruments deemed necessary or appropriate by the Servicer to enable the Servicer to carry out its Loan Servicing obligations hereunder.
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Authority of the Servicer. (a) In performing its Servicing obligations hereunder, the Servicer shall, except as otherwise provided herein and subject to the terms of this Agreement, have full power and authority, acting alone or through others (including Property Managers), to take any and all actions in connection with such Servicing that it deems necessary or appropriate. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Owner when the Servicer deems it appropriate in its best judgment, to execute and deliver documents relating to the operation and leasing of the REO Properties on behalf of the Owner. The ability to execute documents on behalf of the Owner as provided in this Agreement is personal to the Servicer and may not be delegated to a Property Manager. Property Managers may execute agreements in their names relating to the operation, maintenance or repair of the REO Properties, in accordance with Section 3.03 hereof.
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Authority of the Servicer. [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]. fully liable for the performance of such servicing, administration or collection obligations notwithstanding any such subcontract or delegation.
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Authority of the Servicer. (a) The Servicer shall have full power and authority, acting alone or through any party properly designated by it, to do any and all things in connection with its servicing and administration duties described herein which it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer or any of its designees is hereby authorized and empowered to subcontract with any other Person, at the Servicer’s sole cost and expense, for servicing, administering or collecting, in whole or in part, with respect to this Agreement whereupon such other Person with which the Servicer so subcontracts shall be entitled such rights and powers of the Servicer hereunder as may be delegated to it; provided, however, that the Servicer shall remain fully liable for the performance of the duties and obligations of the Servicer and such subcontracted party, pursuant to the terms hereof and provided that the liability of the Borrower to pay the Servicer the Management Fee in accordance with Clause 30.3 (Compensation) below shall continue at all times to be only a liability to the Servicer and no other such person or delegate (and otherwise subject to the terms of this Agreement).
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Authority of the Servicer. In performing its Loan Servicing obligations hereunder, the Servicer shall, except as otherwise provided herein and subject to the terms of this Agreement, have full power and authority, acting alone or through others, to take any and all actions in connection with such Loan Servicing that it deems necessary or appropriate and, consistent with the Servicing Standard, in the best economic interests of the Certificateholders. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust and the Certificateholders when the Servicer deems it appropriate in its best judgment, to execute and deliver, on behalf of such Persons, (a) any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien of each Mortgage on the related Mortgaged Property and any other related collateral; and (b) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments with respect to each of the Loans; provided, however, that the Servicer shall notify the Initial Class A Certificateholder in writing in the event that the Servicer intends to execute and deliver any such instrument referred to in clause (b) above, except in connection with any payment in full of any Loan. The Trust and Owner Trustee will cooperate with the Servicer by either executing and delivering to the Servicer from time to time (i) powers of
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Authority of the Servicer. Subject to the terms and conditions of this Agreement, the Servicer is hereby granted full power and authority to do any and all things to carry out its servicing, administration and collection obligations hereunder; provided, however, that from time to time the Purchaser may limit the scope of such authority by written notice provided to the Servicer describing such limitation. The Servicer may designate, delegate to, appoint or subcontract to any subservicer to perform the Servicer’s duties and obligations hereunder without the Servicer’s receipt of a prior written consent of the Purchaser; provided, that any such delegation or subcontract shall be at the Servicer’s sole expense and the Servicer shall remain fully liable for the performance of such servicing, administration or collection obligations notwithstanding any such subcontract or delegation.
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Authority of the Servicer. 10.3.1 The Servicer shall have the full power, authority and right to do or cause to be done any and all things which it reasonably considers necessary, desirable or convenient for, or incidental to, the administration, the recovery and the collection of the Purchased Receivables in the name and on behalf of the Compartment, or the performance of its duties, but always subject to acting in accordance with provisions of the Transfer and Servicing Agreement and the Servicing Procedures.
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Related to Authority of the Servicer

  • Authority of the Company To carry out its purposes, the Company, consistent with and subject to the provisions of this Agreement and applicable law, is empowered and authorized to do any and all acts and things incidental to, or necessary, appropriate, proper, advisable, or convenient for, the furtherance and accomplishment of its purposes.

  • Authority of the Manager The Manager for, and in the name and on behalf of the Company, is hereby authorized to:

  • Authority of Seller Seller has all necessary corporate power and authority to enter into this Agreement and the other Transaction Documents to which Seller is a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Seller of this Agreement and any other Transaction Document to which Seller is a party, the performance by Seller of its obligations hereunder and thereunder and the consummation by Seller of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Seller. This Agreement has been duly executed and delivered by Seller, and (assuming due authorization, execution and delivery by Buyer) this Agreement constitutes a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). When each other Transaction Document to which Seller is or will be a party has been duly executed and delivered by Seller (assuming due authorization, execution and delivery by each other party thereto), such Transaction Document will constitute a legal and binding obligation of Seller enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

  • Authority of Agent Each Grantor acknowledges that the rights and responsibilities of Agent under this Agreement with respect to any action taken by Agent or the exercise or non-exercise by Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between Agent and the other Secured Parties, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between Agent and any Grantor, Agent shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation or entitlement to make any inquiry respecting such authority.

  • Authority of the Board The Board shall have full authority to interpret and construe the terms of the Plan and this Option Agreement. The determination of the Board as to any such matter of interpretation or construction shall be final, binding and conclusive.

  • General Authority of the Collateral Agent By acceptance of the benefits of this Agreement and any other Collateral Documents, each Secured Party (whether or not a signatory hereto) shall be deemed irrevocably (a) to consent to the appointment of the Collateral Agent as its agent hereunder and under such other Collateral Documents, (b) to confirm that the Collateral Agent shall have the authority to act as the exclusive agent of such Secured Party for the enforcement of any provisions of this Agreement and such other Collateral Documents against any Grantor, the exercise of remedies hereunder or thereunder and the giving or withholding of any consent or approval hereunder or thereunder relating to any Collateral or any Grantor’s obligations with respect thereto, (c) to agree that it shall not take any action to enforce any provisions of this Agreement or any other Collateral Document against any Grantor, to exercise any remedy hereunder or thereunder or to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement or any other Collateral Document and (d) to agree to be bound by the terms of this Agreement and any other Collateral Documents.

  • Authority of Advisor (a) Pursuant to the terms of this Agreement (including the restrictions included in this Section 4 and in Section 9), and subject to the continuing and exclusive authority of the Board over the supervision of the Company, the Company, acting on the authority of the Board of Directors, hereby delegates to the Advisor the authority to perform the services described in Section 3.

  • Authority of Manager (a) The Manager shall have the exclusive authority to manage the operations and affairs of the Company, shall have the power on behalf and in the name of the Company to carry out any and all of the objects and purposes of the Company, and shall have all authority, rights, and powers conferred by law and those required or appropriate for the management of the Company business.

  • Authority of the Committee The Committee shall have full authority to interpret and construe the terms of the Plan and this Agreement. The determination of the Committee as to any such matter of interpretation or construction shall be final, binding and conclusive.

  • Authority of Tenant If Tenant is a corporation or partnership, each individual executing this Lease on behalf of said corporation or partnership represents and warrants that he is duly authorized to execute and deliver this Lease on behalf of said corporation or partnership, and that this Lease is binding upon said corporation or partnership.

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