Servicer hereunder Sample Clauses
The 'Servicer hereunder' clause defines the role and responsibilities of the party designated as the servicer within the agreement. It typically outlines the servicer's duties, such as managing accounts, collecting payments, or administering assets on behalf of other parties. For example, in a loan agreement, the servicer may be responsible for processing borrower payments and handling customer service inquiries. This clause ensures clarity regarding which party is accountable for servicing obligations, thereby reducing confusion and potential disputes over operational responsibilities.
Servicer hereunder. The Trustee and such successor shall take such actions, consistent with this Agreement, as shall be necessary to effectuate any such succession and may make other arrangements with respect to the servicing to be conducted hereunder which are not inconsistent herewith. The Master Servicer shall cooperate with the Trustee and any successor master servicer in effecting the termination of the Master Servicer's responsibilities and rights hereunder including, without limitation, notifying Mortgagors of the assignment of the master servicing functions and providing the Trustee and successor master servicer, as applicable, all documents and records in electronic or other form reasonably requested by it to enable it to assume the Master Servicer's functions hereunder and the transfer to the Trustee or such successor master servicer, as applicable, all amounts which shall at the time be or should have been deposited by the Master Servicer in the Distribution Account and any other account or fund maintained with respect to the Certificates or thereafter be received with respect to the Mortgage Loans. Neither the Trustee nor any other successor master servicer shall be deemed to be in default hereunder by reason of any failure to make, or any delay in making, any distribution hereunder or any portion thereof caused by (i) the failure of the Master Servicer to deliver, or any delay in delivering, cash, documents or records to it, (ii) the failure of the Master Servicer to cooperate as required by this Agreement, (iii) the failure of the Master Servicer to deliver the Mortgage Loan data to the Trustee as required by this Agreement or (iv) restrictions imposed by any regulatory authority having jurisdiction over the Master Servicer. No successor master servicer shall be deemed to be in default hereunder by reason of any failure to make, or any delay in making, any distribution hereunder or any portion thereof caused by (i) the failure of the Trustee to deliver, or any delay in delivering cash, documents or records to it related to such distribution, or (ii) the failure of Trustee to cooperate as required by this Agreement.
Servicer hereunder. Trustee shall give notice of the appointment of a Successor Servicer in accordance with Section 10.3.
Servicer hereunder. The Servicer shall not otherwise be entitled to payment of any additional fee or reimbursement for its out-of-pocket expenses.
Servicer hereunder. The Servicer shall not otherwise be entitled to payment of any additional fee or reimbursement for its out-of-pocket expenses.