Servicer to Act. (a) Notwithstanding the contribution and transfer by the Originator of the Leases and the Equipment contemplated hereby, the Servicer, for the benefit of the Issuer, will service and administer each Lease in accordance with the terms thereof and of this Assignment and Servicing Agreement. The Servicer shall take, or cause to be taken, all such actions as may be necessary or advisable to service, administer and collect each Lease from time to time, all in accordance with (i) customary and prudent servicing procedures for leases of a similar type, (ii) all applicable laws, rules and regulations, and (iii) without limitation as to its obligations under the preceding clauses (i) and (ii), no less a standard of care than that which it applies to leases it services for its own account. The Servicer shall provide the Lessees with appropriate invoices and such other notices as may be required to ensure that all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease are remitted by the Lessees to the address specified by the Servicer. The Servicer shall deposit such payments to the Collection Account within two Business Days of the receipt thereof. Any other amount received by the Servicer from time to time from the Originator, the Issuer or any Lessee which is subject to the Lien of the Indenture shall be held in trust by the Servicer, as agent for the Trustee and promptly turned over to the Trustee or deposited into the Collection Account for application in accordance with the provisions of the Indenture.
Servicer to Act. 19 4.02 Contract Amendments and Modifications; Repurchase of Contracts by Servicer...........................................................21 4.03 Contract Defaults; Residual Realizations...........................22 4.04 Costs of Servicing; Servicer's Fee.................................22 4.05
Servicer to Act. (a) Notwithstanding the transfers and assignments of the Contracts and the other Contributed Property contemplated hereby, the Servicer, for the benefit of the Transferor, and, upon assignment of the Transferor's rights hereunder to the Issuer (and the Issuer's assignment thereof to the Trustee for the benefit of the Trustee and the Noteholders), will service and administer each Contract in accordance with the terms thereof and of this Agreement. The Servicer shall provide the Obligors with appropriate invoices and such other notices as may be required to ensure that all Contract Payments, Prepayment Amounts and Partial Prepayment Amounts on or in respect of each Contract are remitted by the Obligors directly to a Lock-Box Account.
Servicer to Act. (a) Notwithstanding the transfers and assignments of the Leases (including the right to receive all payments due or to become due thereunder) and the related interests in the Equipment contemplated hereby, the Servicer, for the benefit of the Company, will service and administer each Lease in accordance with the terms thereof and of this Sales and Servicing Agreement. The Servicer shall take, or cause to be taken, all such actions as may be necessary or advisable to service, administer and collect each Lease from time to time, all in accordance with (i) customary and prudent servicing procedures for leases of a similar type, (ii) all applicable laws, rules and regulations, and (iii) without limitation as to its obligations under the preceding clauses (i) and (ii), no less a standard of care than that which it applies to Leases it services for its own account. The Servicer shall provide the Lessees with appropriate invoices and such other notices as may be required to ensure that all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease are remitted by the Lessees to the address specified by the Servicer. The Servicer shall deposit such payments to the Collection Account within two Business Days of the receipt thereof. Any other amount received by the Servicer from time to time from the Seller, the Company or any Lessee which is or is intended to be subject to the Lien of the Indenture shall be held in trust by the Servicer, as agent for the Trustee and promptly turned over to the Trustee or deposited into the Collection Account for application in accordance with the provisions of the Indenture.
Servicer to Act. 7 Section 3.02
Servicer to Act. (a) The Issuer hereby appoints Interpool, Inc. as the initial Servicer of the Serviced Assets, and Interpool, Inc., in executing this Agreement hereby accepts such appointment on the terms and conditions set forth in this Agreement. Accordingly, Interpool, Inc. will, as an independent contractor on behalf of the Issuer, the Indenture Trustee, the Administrative Agent and (with respect to each) their respective beneficiaries, successors and assigns, (i) manage, service, lease and administer the Serviced Assets in accordance with the terms of the related Contract and of this Agreement and (ii) be responsible for enforcing the Trust’s rights in the Serviced Assets.
Servicer to Act. (a) Notwithstanding the transfers and assignments of the Contracts and the other Contributed Property contemplated hereby, the Servicer, for the benefit of the Transferor, and, upon assignment of the Transferor's rights hereunder to the Issuer (and the Issuer's assignment thereof to the Trustee for the benefit of the Trustee and the Noteholders and the Swap Providers), will service and administer each Contract in accordance with the terms thereof and of this Agreement. The Servicer shall provide the Obligors with appropriate invoices and such other notices as may be required to ensure that all Contract Payments, Prepayment Amounts and Partial Prepayment Amounts on or in respect of each Contract are remitted by the Obligors directly to a Lock-Box Account.
Servicer to Act. Borrower hereby appoints TRM ATM as Servicer to perform the duties with respect to the provision of Cash to ATMs as contemplated by this Agreement. Such services shall include: (i) entering into and enforcing the Servicer's and Borrower's rights under Automated Teller Machine Cash Services Agreements, Armored Car Carrier Addendums, Processing Service Agreements and any other agreements necessary to provide cash for the ATMs, (ii) making claims under any insurance policies covering the Cash, (iii) preparing reports with respect to the ATM Fee Settlement Account, Credit Balance Settlement Account and Disbursement Accounts activity and Cash maintenance, (iv) maintaining a list of (A) the location of each ATM receiving Cash, (B) each Transportation Agent (with a contact person and telephone number), and (C) each Processing Agent (with contact person and telephone number), (v) maintaining records with respect to the amount of Cash located in each ATM at any time and (vi) instructing the Administrative Agent and the Collateral Agent, as applicable, as to which Disbursement Accounts Cash is to be deposited for distribution to the applicable Transportation Agents. The Servicer covenants and agrees that under no circumstances will it direct any Cash to be deposited into any account other than a Disbursement Account or the Credit Balance Settlement Account. In addition, no transportation agent, depository bank, armored car carrier or processing agent shall be utilized by the Servicer unless such Person has been approved in writing by the Administrative Agent and the Liquidity Agent (such approval shall not be unreasonably withheld) and otherwise satisfies the definition of "Transportation Agent," "Depository Bank," "Armored Car Carrier" and "Processing Agent," as applicable; PROVIDED, that TRM ATM may enter into approved Automated Teller Machine Cash Services Agreements with Qualified Transportation Agents. The Servicer shall perform, and shall have full power and authority to perform, subject to the requirements and limitations set forth in this Agreement, any and all things in connection with such servicing that are consistent with all Applicable Laws and consistent with customary practices of servicers performing similar functions, but in performing its duties hereunder, the Servicer will act on behalf of and for the benefit of Borrower and the Secured Parties. If any Processing Agent is Disconnected for more than 48 consecutive hours, the Servicer shall instruct...
Servicer to Act. 19 ---------------- 4.02 Lease Amendments and Modifications.................................................22 ----------------------------------- 4.03 Non-Performing Leases..............................................................23 ---------------------- 4.04 Costs of Servicing; Servicing Fee; Administrative Expenses.........................24 ----------------------------------------------------------- 4.05 Other Transactions.................................................................24 -------------------
Servicer to Act. App oin tm en t of Su cces s or . At th e t im e th e Pa r t icipa n t receives a n otice of term in a t ion or su s pen s ion pu rsu a n t to Section 5 .02 , a n d u n til su ch xxx e a s th e Au th ority s h a ll d es ign a te a s u cces s or to t h e Pa r t icip a n t with res p ect to th e Loa n s to b e or igin a xxx h ereu n d er , th e Servicer s h a ll s u cceed to a ll r igh t s of th e Pa r t icip a n t h er eu n d er . Th e Au th or it y s h a ll ta ke s u ch a ction , con s is ten t with th is Origin a t ion Agreem en t , a s s h a ll be n eces s a ry to effectu a te a n y s u ch s u cces s ion . Th e Pa r t icipa n t will coopera te with th e Servicer a n d th e Au th ority in effectu a t in g a n y s u ch s u cces s ion .
