Common use of Exclusions from Services Clause in Contracts

Exclusions from Services. PFSC shall have no obligation to originate, underwrite, book or service new loans once it is designated the successor servicer, nor extend credit to any Client borrower member or to Client in performance of its obligations under this Agreement. PFSC acknowledges that it is the intent of the parties that this Agreement not be deemed a “financial accommodation” for purposes of the United States Bankruptcy Code, 11 U.S.C. § 101 et seq.