Punctual Performance. Time shall be of the essence of this Agreement.
Punctual Performance. The Manager shall punctually perform and observe all of its obligations and agreements contained in this Agreement in accordance with the terms hereof and as contemplated by the Managing Standard.
Punctual Performance. Any time, date or period mentioned in any Clause in this Agreement may be varied by mutual agreement between the Vendors and the Purchaser, made in writing and signed by or on behalf of each of the Parties, but, as regards any time, date or period originally fixed and not so varied, or any time, date or period so varied, as aforesaid, time shall be of the essence of this Agreement.
Punctual Performance. The Master Servicer shall punctually perform and observe all of its obligations and agreements contained in this Agreement in accordance with the terms hereof and in accordance with the Servicing Standard.
Punctual Performance. The Servicer shall punctually perform and observe all of its obligations and agreements contained in this Agreement and the other Transaction Documents in accordance with the terms hereof and thereof and in accordance with the Servicing Standard, it being understood that the Servicing Standard shall be applied by the Servicer in good faith and in a manner that (A) would enable the Servicer, when acting on behalf of any Securitization Entity, to comply in all material respects with all of the duties and obligations of the Securitization Entities under the Transaction Documents and each Franchise Document and (B) is in compliance with all Requirements of Law, except to the extent failure to be in compliance would not have any Material Adverse Effect.
