Common use of Initial Backup Servicer Clause in Contracts

Initial Backup Servicer. The backup servicing role with respect to the Assets in the Asset Pool shall be conducted by the Person designated as Backup Servicer hereunder from time to time in accordance with this Section 7.1. The Deal Agent, the Lender, the Borrower and the Trustee, for the benefit of the Secured Parties, each hereby appoints ▇▇▇▇▇ Fargo Bank, National Association to act as Backup Servicer, for the benefit of the Trustee and the Secured Parties. The Backup Servicer hereby accepts such appointment and agrees to perform the duties and obligations with respect thereto set forth herein until such time as the Deal Agent shall give to ▇▇▇▇▇ Fargo a Backup Servicer Termination Notice.

Initial Backup Servicer. The backup servicing role with respect to the Assets in the Asset Pool shall be conducted by the Person designated as Backup Servicer hereunder from time to time in accordance with this Section 7.1. The Deal Agent, the Lender, the Borrower and the Trustee, for the benefit of the Secured Parties, each hereby appoints ▇▇▇▇▇ Fargo Bank, National Association to act as Backup Servicer, for the benefit of the Trustee and the Secured Parties. The Backup Servicer hereby accepts such appointment and agrees to perform the duties and obligations with respect thereto set forth herein until such time as the Deal Agent shall give to ▇▇▇▇▇ Fargo a Backup Servicer Termination Notice.