Servicer Duties Sample Clauses
The 'Servicer Duties' clause defines the responsibilities and obligations of the party designated as the servicer in a contractual relationship. Typically, this clause outlines tasks such as collecting payments, managing accounts, maintaining records, and communicating with relevant parties on behalf of the principal. For example, in a loan servicing agreement, the servicer may be required to process borrower payments, handle customer inquiries, and ensure compliance with applicable laws. The core function of this clause is to clearly allocate operational responsibilities, ensuring that all parties understand the servicer's role and reducing the risk of misunderstandings or service lapses.
Servicer Duties. In addition to any other customary services which the Servicer may perform, the Servicer shall perform or cause to be performed the following servicing and collection activities:
(a) perform standard accounting services and general record keeping services with respect to the Land Lease Assets and the Land Lease Asset Documents;
(b) promptly respond to any inquiries from the Land Lease Entities concerning the Land Lease Assets and the Land Lease Asset Documents;
(c) at all times keep the Lessees informed that the Servicer Account is the proper place and method for making Scheduled Lease Payments and cause the applicable Land Lease Entity to enforce any rights against any Lessee that makes a Scheduled Lease Payment other than to the proper place and in the proper manner;
(d) promptly respond to any inquiries from Bondholders and the Indenture Trustee;
(e) collect the Scheduled Lease Payments to be made by the Lessees with respect to the Land Lease Assets, hold any such payments, in trust, for the benefit of the Issuer and the Bondholders, and promptly deposit such payments (or cause such payments to be deposited) into the Collection Account in accordance with Section 5.03(a);
(f) if an Insolvency Event occurs with respect to a Lessee or any other event or circumstance occurs or exists which would reasonably be expected to adversely affect the Issuer’s ability to pay scheduled payments of principal and interest on the Bonds, give prompt notice to the Indenture Trustee thereof and take such actions as are necessary or appropriate to protect the interests of the Issuer, the Indenture Trustee and the Bondholders under the related Land Lease Asset Documents;
(g) if a condemnation proceeding is commenced with respect to any Land Lease Asset, take (or cause to be taken) such reasonable actions as may necessary or appropriate to maximize the amount of any related condemnation proceeds;
(h) calculate the Post-ARD Additional Interest Rates, Class B Deferred Interest, Post-ARD Additional Bond Interest and the Make Whole Amount, if any, due in connection with any Voluntary Prepayment or in connection with any Repurchase Payment; and
(i) take such other action as may be reasonably necessary or appropriate to carry out the duties and obligations imposed upon the Servicer pursuant to the terms of this Section 6.02.
Servicer Duties. The Servicer agrees to perform the following duties on behalf of the Lessor under the Transaction Documents: (a) Delivering such items as are necessary or advisable to perfect or protect the Administrative Agent’s security interest in and a valid and perfected Lien on all Collateral thereunder, including the preparation of any financing statements or continuation relating to the Collateral pledged thereunder for filing under the provisions of the UCC of any applicable jurisdiction;
Servicer Duties. The Servicer agrees to perform the following duties on behalf of the Lessor under the Transaction Documents:
Servicer Duties. In addition to the duties expressly set forth in the Trust Agreement and any other customary services which the Servicer may perform, the Servicer shall perform or cause to be performed the following servicing and collection activities:
(i) perform standard accounting services and general record keeping services with respect to the Transaction Documents and the Underlying Financing Agreements;
(ii) respond to any inquiries of the Trustee;
(iii) take such other action as may be reasonably necessary or appropriate to carry out the duties and obligations imposed upon the Servicer pursuant to the terms of this Section;
(iv) monitor the Contractual Payments by each Governmental Obligor of monies in respect of the related Contract Obligations and efforts to collect such obligations;
(v) calculate any amounts and/or percentages required pursuant to the Underlying Financing Agreements with respect to the Contract Obligations, and the Transaction Documents with respect to any amounts due and/or payable thereunder, including without limitation any calculations required in connection with any prepayment of the Notes or any Note; and
Servicer Duties. The Servicer agrees to perform the following duties on behalf of the Lessor under the Transaction Documents:
(a) Delivering such items as are necessary or advisable to perfect or protect the Administrative Agent’s security interest in and a valid and perfected Lien on all Collateral thereunder, including the preparation of any financing statements or continuation relating to the Collateral pledged thereunder for filing under the provisions of the UCC of any applicable jurisdiction;
(b) Obtaining and preserving the Lessor’s qualification to do business in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect, or which qualification shall be necessary to protect the validity and enforceability of the Loan Agreement and any instrument or agreement included in the Collateral thereunder;
(c) Giving the Lessor and the Administrative Agent written notice of the commencement or existence of any proceedings by or before any Governmental Authority against or affecting the Lessor which is reasonably likely to have a Material Adverse Effect;
(d) Doing and performing, from time to time, any and all acts to prepare for the execution by the Lessor of any and all further instruments required or reasonably requested by the Lessor to more fully effect the purposes of such Transaction Document.
Servicer Duties. (a) Subject to any limitations on the authority of Servicer set forth in Section 6.1 or elsewhere in this Agreement, Servicer shall perform those services pertaining to the Investments which are required to be performed by Servicer pursuant to this Agreement (collectively, the “Servicing”), including the following:
(i) entering into Third Party Agreements and retaining third party service providers in accordance with Section 5.4 (including retaining legal counsel in accordance with Section 5.5);
(ii) monitoring each Obligor’s compliance with the terms and provisions of the applicable Investment Documents and the performance of such Obligor’s obligations and covenants thereunder, investigating deliquencies as to the Investments, negotiating with Obligors to resolve any disputes regarding Investments and concluding agreements with Obligors with respect to such disputes in accordance with the Credit Policy and the terms of this Agreement;
(iii) taking such action as is necessary to continue and maintain the perfection of any liens on Collateral (and the priority of such liens) in favor of Owner, including preparing and filing or recording of continuation statements and other similar documents or instruments and, as necessary from time to time, preparing and filing or recording any and all instruments of satisfaction or cancellation or of partial or full release or discharge and all other comparable instruments with respect to each Investment, provided that Owner shall, promptly following receipt of an invoice from Servicer in respect of its services under this clause (iii) (together with reasonable backup documentation, if requested by Owner), reimburse to Servicer all of the out-of-pocket costs and expenses incurred by Servicer in providing the services described in this clause (iii) (the “Owner Perfection Costs”);
(iv) assisting Owner in obtaining, perfecting and maintaining the perfection of any liens on Collateral (and the priority of such liens) in favor of any lender providing financing to Owner, including preparing and filing or recording of continuation statements and other similar documents or instruments and, as necessary from time to time, preparing and filing or recording any and all instruments of satisfaction or cancellation or of partial or full release or discharge and all other comparable instruments with respect to each Investment, provided that Owner shall, promptly following receipt of an invoice from Servicer in respect of its services un...
Servicer Duties. The Servicer agrees to perform the following duties on behalf of the Lessor under the Transaction Documents: (a) Delivering such items as are necessary or advisable to perfect or protect the Administrative Agent’s security interest in and a valid and perfected Lien on all Collateral thereunder, including the preparation of any financing statements or continuation relating to the Collateral pledged thereunder for filing under the provisions of the UCC of any applicable jurisdiction; (b) Obtaining and preserving the Lessor’s qualification to do business in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect, or which qualification shall be necessary to protect the validity and enforceability of the Loan Agreement and any instrument or agreement included in the Collateral thereunder; (
Servicer Duties