Common use of Duties of Master Servicer Clause in Contracts

Duties of Master Servicer. (a) The Master Servicer, as agent for the Issuer (to the extent provided herein) shall supervise, or take such actions as are necessary to ensure, the servicing and administration of the Mortgage Loans and any REO Property in accordance with this Agreement and the customary and usual standards of an institution prudently servicing mortgage loans for its own account and shall have full authority to do anything it reasonably deems appropriate in connection with such servicing and administration. The Master Servicer shall maintain servicing standards equivalent to those required for approval by Xxxxxx Xxx or Xxxxxxx Mac. The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractors, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicer, in its capacity as Master Servicer, shall include the power to (i) supervise the filing and collection of insurance claims and take or cause to be taken such actions on behalf of the insured person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunder, and (ii) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Loan, including the employment of attorneys, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Primary Insurance Policy and any other matter pertaining to a delinquent Mortgage Loan. The authority of the Master Servicer shall include, in addition, the power to (i) execute and deliver customary consents or waivers and other instruments and documents, (ii) consent to transfers of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (but only in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceeds. Without limiting the generality of the foregoing, the Master Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Trustee, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Mortgage Loans or to the Mortgaged Properties securing such Mortgage Loans.

Duties of Master Servicer. (a) The Master Servicer, as agent for the Issuer (to the extent provided herein) shall supervise, or take such actions as are necessary to ensure, the servicing and administration of the Mortgage Home Equity Loans and any REO Property in accordance with this Agreement and the customary and usual standards of an institution prudently servicing mortgage loans for its own account and shall have full authority to do anything it reasonably deems appropriate in connection with such servicing and administration. The Master Servicer shall maintain servicing standards equivalent to those required for approval by Xxxxxx Xxx FNMA or Xxxxxxx MacFHLMC. The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractors, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicer, in its capacity as Master Servicerservicer, shall include the power to (i) supervise the filing and collection of insurance claims and take or cause to be taken such actions on behalf of the insured person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunder, and (ii) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Home Equity Loan, including the employment of attorneys, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Primary Insurance Policy and any other matter pertaining to a delinquent Mortgage Home Equity Loan. The authority of the Master Servicer shall include, in addition, the power to (i) execute and deliver customary consents or waivers and other instruments and documents, (ii) consent to transfers of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (but only in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceeds. Without limiting the generality of the foregoing, the Master Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Trustee, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Mortgage Home Equity Loans or to the Mortgaged Properties securing such Mortgage Home Equity Loans.

Duties of Master Servicer. (a) The Master Servicer, as agent for the Issuer (to the extent provided herein) shall supervise, or take such actions as are necessary to ensure, the servicing and administration of the Mortgage Loans and any REO Property in accordance with this Agreement and the customary and usual standards of an institution prudently servicing mortgage loans for its own account and shall have full authority to do anything it reasonably deems appropriate in connection with such servicing and administration. The Master Servicer shall maintain servicing standards equivalent to those required for approval by Xxxxxx Xxx or Xxxxxxx Mac. The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractors, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicer, in its capacity as Master Servicer, shall include the power to (i) supervise the filing and collection of insurance claims and take or cause to be taken such actions on behalf of the insured person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunder, and (ii) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Loan, including the employment of attorneys, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Primary Insurance Policy and any other matter pertaining to a delinquent Mortgage Loan. The authority of the Master Servicer shall include, in addition, include the power to to: (i) execute and deliver customary consents or waivers and other instruments and documents, ; (ii) consent to transfers of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (but only in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceeds. Without limiting the generality of the foregoing, the Master Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Trustee, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Mortgage Loans or to the Mortgaged Properties securing such Mortgage Loans.

Duties of Master Servicer. (a) The Effective as of the Cut-Off Date, the Master Servicer, Servicer is hereby appointed and authorized to act as agent for the Issuer and in such capacity shall (or shall require the Receivables Servicer to) manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Master Servicer exercises with respect to comparable automotive receivables that it (or the Receivables Servicer) services for itself or others. The Master Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Master Servicer set forth herein. The Master Servicer’s duties (which have been delegated in whole or in part to the extent provided hereinReceivables Servicer) shall superviseinclude collection and posting of all payments, or take such actions as are necessary responding to ensureinquiries of Obligors, investigating delinquencies, sending payment coupons to Obligors, reporting tax information to Obligors, policing the collateral and accounting for collections. Subject to the provisions of Section 3.2, the servicing and administration Master Servicer shall follow its Customary Servicing Practices (or the Receivables Servicer will follow the standards of the Mortgage Loans and any REO Property Receivables Servicer set forth in accordance with this Agreement and the customary and usual standards of an institution prudently servicing mortgage loans for its own account Receivables Servicing Agreement) and shall have full authority power and authority, acting alone, to do anything it reasonably deems appropriate any and all things in connection with such servicing and administration. The Master Servicer shall maintain servicing standards equivalent to those required for approval by Xxxxxx Xxx or Xxxxxxx Mac. The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractorsmanaging, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicerservicing, in its capacity as Master Servicer, shall include the power to (i) supervise the filing administration and collection of insurance claims and take that it may deem necessary or cause to be taken such actions on behalf of the insured person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunder, and (ii) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Loan, including the employment of attorneys, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Primary Insurance Policy and any other matter pertaining to a delinquent Mortgage Loan. The authority of the Master Servicer shall include, in addition, the power to (i) execute and deliver customary consents or waivers and other instruments and documents, (ii) consent to transfers of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (but only in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceedsdesirable. Without limiting the generality of the foregoing, the Master Servicer is hereby (and the Receivables Servicer pursuant to the Receivables Servicing Agreement is thereby) authorized and empowered empowered, pursuant to this Section 3.1, to execute and deliver, on behalf of itself, itself or the Issuer, the Owner Trustee, the Indenture Trustee, the Certificateholders and Noteholders, the Noteholders Certificateholder, or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such Mortgage Loans or the Receivables and the Financed Vehicles. The Master Servicer is hereby (and the Receivables Servicer pursuant to the Mortgaged Properties securing Receivables Servicing Agreement is thereby) authorized to commence, in its own name or in the name of the Issuer a legal Proceeding to enforce a Defaulted Receivable as contemplated by Section 3.3, to enforce all obligations or participate in a legal Proceeding (including without limitation a bankruptcy Proceeding) relating to or involving a Receivable or a Defaulted Receivable. If the Master Servicer (or the Receivables Servicer) commences or participates in such Mortgage Loansa legal Proceeding in its own name, the Master Servicer is hereby (and the Receivables Servicer pursuant to the Receivables Servicing Agreement is thereby) authorized and empowered by the Issuer pursuant to this Section 3.1, to obtain possession of the related Financed Vehicle and immediately and without further action on the part of the Issuer or the Master Servicer (or the Receivables Servicer), the Issuer shall thereupon automatically assign in trust such Receivable and the security interest in the related Financed Vehicle to the Master Servicer (or the Receivables Servicer) for the benefit of the Issuer for purposes of commencing or participating in any such Proceeding as a party or claimant. Upon such automatic assignment, the Master Servicer (or the Receivables Servicer) will be, and will have all the rights and duties of, a secured party under the UCC and other applicable law with respect to such Receivable and the related Financed Vehicle. At the Master Servicer’s request from time to time, the Issuer shall provide the Master Servicer with evidence of the assignment in trust for the benefit of the Issuer, as applicable, as may be reasonably necessary for the Master Servicer (or the Receivables Servicer’s) to take any of the actions set forth in the following sentence. The Master Servicer is hereby (and the Receivables Servicer pursuant to the Receivables Servicing Agreement is thereby) authorized and empowered by the Issuer and the Indenture Trustee to execute and deliver in the Master Servicer’s (or the Receivables Servicer’s) name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such Proceeding. The Issuer shall furnish the Master Servicer (or the Receivables Servicer) with any powers of attorney and other documents and take any other steps which the Master Servicer (or the Receivables Servicer) may deem necessary or appropriate to enable the Master Servicer to carry out its duties herein or the Receivables Servicer to carry out its duties under the Receivables Servicing Agreement. Except to the extent required by the preceding two sentences, the authority and rights granted to the Master Servicer and the Receivables Servicer in this Section 3.1 shall be nonexclusive and shall not be construed to be in derogation of the retention by the Issuer or the Indenture Trustee of equivalent authority and rights.

Duties of Master Servicer. (a) The Master Servicer, as agent for the Issuer (acting alone or through one or more subservicers to the extent provided herein) shall supervisepermitted hereunder, or take such actions as are necessary to ensure, for the servicing and administration benefit of the Mortgage Loans Issuer, shall manage, service, administer and any REO Property make collections on the Receivables with reasonable care but in no event less than the care that the Master Servicer exercises with respect to all comparable motor vehicle receivables that it services for itself or others. The Master Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors or by federal, State or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons to Obligors, reporting tax information to Obligors in accordance with this Agreement its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the customary Trustees with respect to distributions, providing collection and usual standards repossession services in the event of an institution prudently servicing mortgage loans for its own account Obligor default, generating federal income tax information and shall have full authority to do anything it reasonably deems appropriate in connection with such servicing and administrationperforming the other duties specified herein. The Master Servicer shall maintain servicing standards equivalent have full power and authority to those required for approval by Xxxxxx Xxx or Xxxxxxx Mac. The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractorsdo any and all things in connection with such managing, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicerservicing, in its capacity as Master Servicer, shall include the power to (i) supervise the filing administration and collection of insurance claims and take that it may deem necessary or cause to be taken such actions on behalf of the insured person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunderdesirable, and (ii) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Loanit being understood, including the employment of attorneyshowever, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Primary Insurance Policy and any other matter pertaining to a delinquent Mortgage Loan. The authority of that the Master Servicer shall include, in additionat all times remain responsible to the Issuer and the Indenture Trustee for the performance of its duties and obligations hereunder. Subject to the foregoing and to Section 3.02, the power to (i) execute Master Servicer shall follow its customary standards, policies, practices and deliver customary consents or waivers and other instruments and documents, (ii) consent to transfers of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (but only procedures in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceedsperforming its duties hereunder as Master Servicer. Without limiting the generality of the foregoing, the Master Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Depositor, the Issuer, the Owner TrusteeTrustees, the Trustee, the Certificateholders and the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such Mortgage Loans the Receivables and the Financed Vehicles. The Master Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Mortgaged Properties securing Master Servicer commences or participates in such Mortgage Loansa legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Master Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Master Servicer is authorized and empowered by the Issuer to execute and deliver in the Master Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Master Servicer may not enforce a Receivable on the grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Master Servicer’s expense and written direction, take steps to enforce such Receivable, including bringing suit in the Master Servicer’s or the Issuer’s name or the name of the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders or any of them. The Owner Trustee, on behalf of the Issuer, shall furnish the Master Servicer with any powers of attorney and other documents and take any other steps which the Master Servicer may deem necessary or appropriate to enable the Master Servicer to carry out its servicing and administrative duties hereunder. The Master Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term of this Agreement. The Master Servicer shall, or cause the Administrator to, prepare, execute and deliver all certificates or other documents required to be delivered by the Issuer pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder.