Designation of Sub-Servicer Sample Clauses

Designation of Sub-Servicer. The Originator has been designated, and has agreed to act as a sub-servicer (the “Sub-Servicer”) for the Buyer in the Buyer’s capacity as the Servicer pursuant to the terms of the Purchase Agreement, (receipt of a complete copy of which is hereby acknowledged by the Originator) and to perform all of the duties and obligations of the Servicer set out in this Agreement and in the Purchase Agreement with respect to all Receivables originated by the Originator, the Related Security related thereto and Collections thereof.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Designation of Sub-Servicer. Originator has been designated, and has agreed to act as a sub-servicer (“Sub-Servicer”) for Buyer in Buyer’s capacity as Servicer pursuant to the terms of the Purchase Agreement, receipt of a complete copy of which is hereby acknowledged by Originator, and to perform all of the duties and obligations of the Servicer set forth herein and in the Purchase Agreement with respect to all Receivables originated by Originator and all Canadian Receivables, and the Related Security related thereto and Collections thereof; provided that, prior to January 31, 2009, Canadian Receivables may be serviced by an entity other than the Originator, but commencing on January 31, 2009, Originator shall be the only Sub-Servicer permitted to service the Canadian Receivables.
Sample 1Sample 2
Designation of Sub-Servicer. Jabil has been designated, and has agreed to act as, sub-servicer ("Sub-Servicer") for Buyer in Buyer's capacity as Servicer pursuant to the terms of the Purchase Agreement and to perform all of the duties and obligations of the Servicer set forth herein and in the Purchase Agreement with respect to the Receivables, Related Security related thereto and Collections thereof.
Sample 1Sample 2
Designation of Sub-Servicer. (a) The servicing, --------------------------- administration and collection of the Receivables shall be conducted by the Servicer so designated from time to time in accordance with SECTION 6.1
Sample 1
Designation of Sub-Servicer. (a) The servicing, administration and collection of the Receivables shall be conducted by the Servicer so designated from time to time in accordance with Section 6.1 of the Investor Agreement. The Originator is hereby designated as, and hereby agrees to act as sub-servicer (the "Sub-Servicer") for the Buyer in the Buyer's capacity as Servicer pursuant to the terms of the Investor Agreement and the Originator agrees in such capacity as Sub- Servicer to perform all of the duties and obligations of the Servicer set forth herein and in the Investor Agreement with respect to the Receivables, Related Security related thereto and Collections thereof. The Buyer may, at any time in its sole discretion, remove the Originator (or any successor thereto) as Sub-Servicer and appoint a successor Sub-Servicer.
Sample 1
Designation of Sub-Servicer. (a) The administration and collection of Existing Receivables shall be conducted by the Collection Agent so designated from time to time in accordance with Section 7.2 of the Receivables Resale Agreement. Buyer is hereby designated as, and hereby agrees to act as, sub-servicer (the "Sub- ---- Servicer") for the Special Purpose Purchaser in the Special Purpose -------- Purchaser's capacity as the Collection Agent designated pursuant to the terms of the Receivables Resale Agreement, and Buyer agrees in such capacity as Sub-Servicer to perform all of the duties and obligations of the Collection Agent set forth herein and in the Receivables Resale Agreement with respect to the Existing Receivables and Collections thereon.
Sample 1
Designation of Sub-Servicer. 32 6.02. Rights of the Buyer..............................................................................33 6.03. Responsibilities of the Originator...............................................................33 6.04. Lock-Box Accounts; Maintenance of Perfection.....................................................34 Section Page ------- ----
Sample 1
AutoNDA by SimpleDocs
Designation of Sub-Servicer. Consistent with the Buyer's ownership of the Purchased Loans and the other Purchased Assets, the Originator agrees that the Buyer shall have the sole right to service, administer and collect the Purchased Loans, to assign such right and to delegate such right to any other Person. The Originator hereby acknowledges that the Buyer has appointed Sirrom Capital Corporation to be the Servicer with respect to the Purchased Loans and Sirrom Capital Corporation has accepted such appointment. In addition, the Buyer has authorized the Servicer to appoint Sub-Servicers to perform its servicing obligations with respect to the Purchased Loans. The Originator shall deliver all Records to the Servicer, as agent for the Buyer, and the Servicer shall hold all such Records in trust for the Buyer in accordance with its interests.
Sample 1

Related to Designation of Sub-Servicer

  • Designation of Servicer 22 Section 8.2

  • Limitation on Resignation of a Servicer Subject to Sections 7.01 and 10.07, no Servicer shall assign this Agreement or resign from the obligations and duties hereby imposed on it except by mutual consent of the Servicers, the Depositor and the Trustee or upon the determination that its duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by such Servicer. Any such determination permitting the resignation of a Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Depositor and the Trustee which Opinion of Counsel shall be in form and substance acceptable to the Depositor and the Trustee. No such resignation shall become effective until a successor shall have assumed such Servicer's responsibilities and obligations hereunder. Notwithstanding the provisions of Section 6.04 herein to the contrary, in the event that a Servicer determines that it will no longer engage in the business of servicing mortgage loans, such Servicer may assign its rights under this Agreement, provided that, (i) the Depositor in its sole discretion has consented, (ii) the Rating Agencies' ratings of the Certificates in effect immediately prior to such action will not be qualified, reduced or withdrawn as a result thereof (as evidenced by a letter to such effect from the Rating Agencies) and (iii) such Servicer shall be liable for all costs and expenses associated with the transfer of servicing, provided further, that the Servicer shall indemnify and hold each of the Trust Fund, the Trustee, the Depositor, the other Servicers hereunder, any sub-servicer, the successor Servicer and each Certificateholder harmless against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that such party may sustain in any way related to such assignment except with respect to a successor Servicer's failure to comply with the terms of this Agreement. No assignment by such Servicer shall become effective until a successor Servicer acceptable to the Depositor and the Trustee shall have assumed in writing such Servicer's responsibilities, duties, liabilities (other than those liabilities arising prior to the appointment of such successor) and obligations under this Agreement. Any such assignment shall not relieve the applicable Servicer of responsibility for any of the obligations specified herein except to the extent that such responsibilities have been expressly assumed by the successor Servicer.

  • Resignation of Master Servicer Except as otherwise provided in Sections 9.27 and 9.29 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless it determines that the Master Servicer’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be Independent to such effect delivered to the Trustee and any NIMS Insurer. No such resignation shall become effective until the Securities Administrator shall have assumed, or a successor master servicer acceptable to any NIMS Insurer and the Securities Administrator shall have been appointed by the Trustee and until such successor shall have assumed, the Master Servicer’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee, the Securities Administrator and any NIMS Insurer.

  • Designation of the Servicer The Trust hereby designates the Seller as the initial Servicer under this Agreement and by executing and delivering this Agreement, the Seller agrees to accept its designation as the Servicer until a Servicer Transfer, and hereby agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof, at no cost to the Trust. Subject to the provisions of this Agreement, the Servicer shall administer, service and collect the Pool Assets as agent for the Trust until the Final Termination Date and the Trust shall not terminate the Seller as Servicer except in accordance with Section 5.12. The Servicer may, in accordance with the terms of the Credit and Collection Policies, subcontract with any Person for the administration and collection of the Pool Receivables; provided however, that the Servicer shall remain liable for the performance of the duties and obligations so subcontracted and all other duties and obligations of the Servicer pursuant to the terms hereof.

  • APPOINTMENT OF SUB-ADMINISTRATOR The Advisor hereby appoints the Sub-Administrator to act as administrator with respect to the Corporation for purposes of providing certain administrative services for the period and on the terms set forth in this Agreement. The Sub-Administrator accepts such appointment and agrees to render the services stated herein. The Corporation currently consists of the Fund(s) and their respective classes of shares as listed in Schedule A to this Agreement. In the event that the Corporation establishes one or more additional Fund(s) with respect to which the Advisor wishes to retain the Sub-Administrator to act as administrator hereunder, the Advisor shall notify the Sub-Administrator in writing. Upon written acceptance by the Sub-Administrator, such Fund(s) shall become subject to the provisions of this Agreement to the same extent as the existing Fund, except to the extent that such provisions (including those relating to compensation and expenses payable by the Advisor) may be modified with respect to such Fund in writing by the Advisor and the Sub-Administrator at the time of the addition of such Fund.

  • Limitation on Resignation of Master Servicer The Master Servicer shall not resign from the obligations and duties hereby imposed on it except (a) upon appointment of a successor servicer and receipt by the Trustee of a letter from each Rating Agency that such a resignation and appointment will not result in a downgrading of the rating of any of the Certificates, or (b) upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination under clause (b) permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor master servicer shall have assumed the Master Servicer's responsibilities, duties, liabilities and obligations hereunder.

Time is Money Join Law Insider Premium to draft better contracts faster.