Servicing Arrangements. AmeriCredit, as Servicer (the “Servicer”), AFS SenSub Corp., as Seller (“Seller”), AmeriCredit Automobile Receivables Trust 2011-5 (the “Trust”) and the Trustee entered into a Sale and Servicing Agreement dated as of October 26, 2011 (as amended, supplemented and otherwise modified from time to time, the “Sale and Servicing Agreement”), relating to the Receivables (as such term is defined in the Sale and Servicing Agreement), pursuant to which the Receivables were sold, transferred, assigned, or otherwise conveyed to the Trust. The Sale and Servicing Agreement contemplates the engagement of a processor for lockbox services, and the Indenture contemplates that the Lockbox Account (as defined herein) will be assigned and pledged to the Trust Collateral Agent. The Sale and Servicing Agreement does not include specific terms for the provision of data processing services of remittance items. Such terms are set forth in this Lockbox Processing Agreement (the “Agreement”). For avoidance of doubt, Regulus is not a depository institution. All capitalized terms used herein and not otherwise defined herein shall have the meanings specified in the Sale and Servicing Agreement.
Servicing Arrangements. (a) On or prior to the date hereof, the Master Servicer has entered into a Servicing Agreement with respect to all of the Home Loans, in substantially the form of the Form of the Servicing Agreement attached hereto as Exhibit E with Mego, as Servicer. So long as no Securities Insurer Default shall have occurred and be continuing, upon the termination of the Servicing Agreement, the Master Servicer may only appoint or consent to the appointment or succession of a successor Servicer under the Servicing Agreement and may only enter into a substitute servicing agreement which is in form and substance as the Servicing Agreement attached hereto as Exhibit E (which, with the consent of the Securities Insurer, may differ in material respects from the Form of Servicing Agreement attached hereto as Exhibit E) and with a Person acceptable to the Securities Insurer and the Indenture Trustee. So long as no Securities Insurer Default exists, the Master Servicer shall not consent to any material amendment, modification or waiver of the provisions of a Servicing Agreement without the consent of the Securities Insurer and the Indenture Trustee.
Servicing Arrangements. Concurrently with its entering into this Agreement, Purchaser has entered into the Servicing Agreement under which LendingClub will act as the initial Servicer of the Purchased Loans for Purchaser. Any purchaser, assignee or transferee of a Purchased Loan, whether from Purchaser or any other party shall be bound by such Servicing Agreement as if an original party thereto unless and until such time as such purchaser, assignee or transferee enters into a new or replacement servicing agreement with Servicer or another licensed servicer for the Purchased Loans in accordance with the terms of the Servicing Agreement.
Servicing Arrangements. (a) On or prior to the date hereof, the Master Servicer has entered into a Servicing Agreement with respect to all of the Home Loans, in substantially the form of the Form of the Servicing Agreement attached hereto as Exhibit E with Mego, as Servicer. Upon the termination of the Servicing Agreement, the Master Servicer may only appoint or consent to the appointment or succession of a successor Servicer under the Servicing Agreement and may only enter into a substitute servicing agreement which is in form and substance as the Servicing Agreement attached hereto as Exhibit E and with a Person acceptable to the Indenture Trustee. The Master Servicer shall not consent to any material amendment, modification or waiver of the provisions of a Servicing Agreement without the consent of the Indenture Trustee.
Servicing Arrangements. AutoBond will take any necessary action to evidence that the Specified Auto Loans are to be serviced and administered by the Servicer and AutoBond, as Collection Agent under the Servicing Agreement. AutoBond will act as Collection Agent under the Servicing Agreement and will perform its duties as Collection Agent thereunder in accordance with the provisions of the Servicing Agreement, the AutoBond Program Manual and this Agreement. So long as any Advances are outstanding, upon the occurrence of an Event of Termination under the Servicing Agreement, AutoBond agrees to provide prompt notice to the Lender of such Event of Termination and to thereafter act in accordance with the instructions of the Lender, including the appointment of a new Servicer and/or Collection Agent. Any optional termination of the Servicer by AutoBond under the Servicing Agreement shall require the prior written consent of Fitch and the Initial Lender.
Servicing Arrangements. (a) On or prior to the date hereof, the Master Servicer has entered into a Servicing Agreement with respect to all of the Loans, in substantially the form of the Form of the Servicing Agreement attached hereto as Exhibit A with Mego, as Servicer. So long as no Certificate Insurer Default shall have occurred and be continuing, upon the termination of the Servicing Agreement, the Master Servicer may only appoint or consent to the appointment or succession of a successor Servicer under the Servicing Agreement and may only enter into a substitute servicing agreement which is in form and substance as the Servicing Agreement attached hereto as Exhibit A (which, with the consent of the Certificate Insurer, may differ in material respects from the Form of Servicing Agreement attached hereto as Exhibit A) and with a Person acceptable to the Certificate Insurer. So long as no Certificate Insurer Default exists, the Master Servicer shall not consent to any material amendment, modification or waiver of the provisions of a Servicing Agreement without the consent of the Certificate Insurer.
Servicing Arrangements. On the Closing Date, AFC and Buyer shall enter into a servicing agreement in substantially the form included as Exhibit A hereto (the "Servicing Agreement"), which shall provide for the continued provision by Buyer after the Closing Date to AFC and its affiliates of fiduciary services similar in type and quality to the fiduciary services currently being provided by GMB to AFC and its affiliates.
Servicing Arrangements. AutoBond will take any necessary action to evidence that the Specified Auto Loans are to be serviced and administered by the Servicer under the Servicing Agreement. AutoBond will act as Servicer under the Servicing Agreement and will perform its duties as Servicer thereunder in accordance with the provisions of the Servicing Agreement, the AutoBond Program Manual and this Agreement. So long as any Advances are outstanding, upon the occurrence of an Event of Termination under the Servicing Agreement, AutoBond agrees to provide prompt notice to the Lender of such Event of Termination and to thereafter act in accordance with the instructions of the Lender, including the appointment of a new Servicer.
Servicing Arrangements. (a) The parties hereto agree and acknowledge that, notwithstanding the purchase and sale of the Eligible Assets contemplated hereby, Seller shall cause the Eligible Assets to continue to be serviced for the benefit of Buyer and, if Buyer shall exercise its right to sell the Eligible Assets pursuant to this Agreement prior to the related Repurchase Date, Buyer's assigns; PROVIDED, HOWEVER, that, so long as an Event of Default shall not have occurred and be continuing, Seller shall be entitle to receive the Servicing Fee relating to the Eligible Assets serviced by it until such time as Buyer elects to terminate Seller as servicer of the Eligible Assets as contemplated by subparagraph (d) below: PROVIDED, FURTHER, HOWEVER, that if an Event of Default shall have occurred and be continuing, Seller shall not be entitled to receive the Servicing Fee during the occurrence of such Event of Default and after the expiration of such thirty (30) day period shall be entitled to receive the Servicing Fee until servicing is terminated as herein provided; and PROVIDED, FURTHER, HOWEVER, that the obligation of Seller to cause Eligible Assets to be serviced for the benefit of Buyer as aforesaid shall cease upon the payment to Buyer of the Repurchase Price therefor.
Servicing Arrangements. (a) The parties hereto agree and acknowledge that, notwithstanding the purchase and sale of the Loans contemplated hereby, Seller shall cause the Loans to continue to be serviced for the benefit of Buyer and, if Buyer shall exercise its rights to sell the Loans pursuant to the Agreement prior to the related Repurchase Date, Buyer's assigns; provided, however, that the obligation of Seller to cause Loans to be serviced for the benefit of Buyer as aforesaid shall cease upon the payment to Buyer of the Repurchase Price therefor.
