Duties of Backup Servicer. (a) In furtherance of its undertaking in Section 2 above, from and after the date hereof until the Appointment Effective Date, Backup Servicer agrees to perform the Backup Servicer functions as set forth in this Section 3. On and after the Appointment Effective Date, Backup Servicer, as Successor Servicer, shall serve as “Servicer” under the Servicing Agreement.
Duties of Backup Servicer. Effective as of the Servicing Turnover Date (as used herein, “Servicing Turnover Date” means the date on which Program Agent delivers a Termination Notice to the Servicer and the Backup Servicer pursuant to Section 6.01(c) hereof), the Backup Servicer shall, pursuant to Section 6.01(d), be appointed as the successor Servicer and, except as otherwise expressly set forth herein, be the successor in all respects to the predecessor Servicer. The Backup Servicer, as successor Servicer, shall perform the duties and obligations of the Servicer set forth in Section 6.02 in accordance with all applicable federal, state or local laws and regulations and with the degree of skill, care and diligence as is customary and usual in the industry for third party servicers who service comparable assets (the “Required Standard of Care”).
Duties of Backup Servicer. (a) The Backup Servicer shall perform such duties and only such duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.
Duties of Backup Servicer. The Backup Servicer, for the benefit of the Issuer, the Insurer and the Noteholders, shall perform the following duties:
Duties of Backup Servicer. (a) The Backup Servicer hereby agrees, on the date (the "Assumption Date") specified in the written notice to the Backup Servicer from the Insurer or the Indenture Trustee, as the case may be, of the termination of the rights and obligations of the Servicer pursuant to Section 9.2 hereof or the resignation of the Servicer pursuant to Section 8.4 hereof, and without any further notice, to assume the obligations of the Servicer hereunder, to be the successor in all respects to the Servicer and to be subject to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on the Servicer. From and after the Assumption Date and except as expressly set forth herein, the Backup Servicer shall be entitled to all of the rights granted to the Servicer by the terms and provisions of this Agreement.
Duties of Backup Servicer. The Backup Servicer prior to the Assumption Date shall be responsible for (a) performing initial data mapping of the tape provided to the Backup Servicer and Trustee; and (b) receiving and ensuring the proper and safe storage of the information provided to the Backup Servicer pursuant to Section 4.14(b).
Duties of Backup Servicer. 54 SECTION 8A.3 BACKUP SERVICING STANDARD....................................................................... 55 SECTION 8A.4 LIMITATION ON RESIGNATION OF THE BACKUP SERVICER................................................ 55 SECTION 8A.5 RIGHTS IN RESPECT OF THE BACKUP SERVICER........................................................ 55 SECTION 8A.6 TERMINATION..................................................................................... 55 SECTION 8A.7 RESIGNATION OR TERMINATION OF BACKUP SERVICER................................................... 56 SECTION 8A.8 BACKUP SERVICING FEE............................................................................ 56 SECTION 8A.9 INDEMNITY....................................................................................... 56 SECTION 8A.10
Duties of Backup Servicer. 39 ARTICLE V DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS Section 5.1 Accounts................................................... 39 Section 5.2 Collections................................................ 40 Section 5.3 Application of Collections................................. 40 Section 5.4 Additional Deposits........................................ 40 Section 5.5 Distributions.............................................. 40 Section 5.6 Reserve Account, Priority of Distributions................. 42 Section 5.6A Pre-Funding Account........................................ 43 Section 5.6B Capitalized Interest Account............................... 43 Section 5.7 Simple Interest Differential Account....................... 44 Section 5.8 Statements to Certificateholders; Tax Returns.............. 44 Section 5.9 Reliance on Information from the Servicer.................. 47 Section 5.10 Statements to Certificateholders; Characteristics of Receivables Pool......................................... 48 Section 5.11 Amendment to Schedule of Receivables....................... 48 ARTICLE VI THE CERTIFICATES
Duties of Backup Servicer. 71 SECTION 8A.3. Backup Servicing Standard.....................................72
Duties of Backup Servicer. (a) Backup Servicer hereby agrees that in the event that, the Backup Servicer becomes a successor Servicer during the Appointment Period, as stated in paragraph 1 above, Backup Servicer shall be ready, willing and able to assume, and shall assume, the Servicer functional responsibilities under the Servicing Agreement; provided, however, the Backup Servicer shall be entitled to the compensation set forth herein rather than the compensation provided for under the Servicing Agreement. The Backup Servicer further agrees to maintain sufficient servicing and collection staff to commence full servicing upon the transfer of the initial Servicer’s rights and obligations under the Servicing Agreement.
