Servicing Agent Confirmation Clause Samples
The Servicing Agent Confirmation clause establishes the requirement for a designated servicing agent to formally acknowledge and accept their role and responsibilities under the agreement. In practice, this clause typically requires the servicing agent to provide written confirmation that they will perform specified duties, such as managing payments, maintaining records, or communicating with relevant parties. Its core function is to ensure that all parties have clear evidence of the servicing agent’s commitment, thereby reducing the risk of disputes or misunderstandings regarding the agent’s obligations.
Servicing Agent Confirmation. If requested by Lender, Borrower will provide Lender with written confirmation from the Servicing Agent that it has not received any claim of set-off by the Purchaser under the Note Receivable against which Lender is making an Advance.
Servicing Agent Confirmation. If requested by Lender, written confirmation from the Servicing Agent that it has not received notice of any complaint, demand, set-off, or claim by any Person, including any Purchaser, with respect to the Notes Receivable covered by item (b) above (other than as to routine matters involving the servicing of a Note Receivable) and certifying the unpaid total payments due under the unpaid principal balance of such Notes Receivable.