Servicing Duties. The Backup Servicer shall take all actions it deems necessary to commence servicing within thirty (30) days of receipt of written notice from the Trust Collateral Agent (acting at the written direction of the Majority Noteholders), including hiring and training new personnel and purchasing any necessary equipment.
Servicing Duties. Servicer shall provide and perform the Services in full compliance with: the terms of this Agreement, including without limitation the Service Level Agreement (as amended by the parties from time to time in accordance with the terms thereof) ; the Servicing Guidelines; the Program Manual; the terms and conditions of the Credit Agreements; and all federal and state laws and regulations applicable to Servicer or Program Lender or any Owner.
Servicing Duties. (a) On or before the Closing Date, the Backup Servicer and the Trustee will enter into the Aegis Finance Servicing Agreement with Aegis Finance pursuant to which Aegis Finance shall act as Servicer with respect to the Receivables. Any Servicer shall be, and shall remain, for so long as it is acting as Servicer, an Eligible Servicer. The Backup Servicer shall review each Monthly Servicing Certificate required to be provided by the Servicer pursuant to paragraph III.B.6 of the Servicing Agreement and shall notify the Trustee, each Rating Agency and each Certificateholder of any discrepancy in such Monthly Servicing Certificate which cannot be corrected in accordance with paragraph III.B.6 of the Servicing Agreement.
Servicing Duties. 2.1 Until the termination of the Servicer pursuant to Section 11.1, the Loans included in the Portfolio shall be administered, serviced and collected by the Seller, as Servicer. The Seller hereby agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof at no additional cost to the Guarantor, in consideration of the consideration paid for the Loans and the Related Security pursuant to the Mortgage Sale Agreement. Subject to the provisions hereof, the Servicer shall administer, service and collect the Loans and their Related Security as agent for the Guarantor until the date of termination of this Agreement in accordance with the provisions of this Agreement. The Bond Trustee consents to the appointment of the Servicer on the terms and subject to the conditions of this Agreement.
Servicing Duties. Income derived from the Servicing Rights following the Sale Date shall be paid to Purchaser after the Sale Date. Seller shall be entitled to the benefits and obligations of all Escrow Funds and principal and interest custodial funds during the Subservicing Period. From and after the date hereof, Seller shall not take any action that is inconsistent with the sale of the Servicing accomplished hereby. During the Subservicing Period, Seller shall maintain its servicing capacity and:
Servicing Duties. Subsection 2.01
Servicing Duties. Of The Lender This section contains the basic rules governing the servicing of mortgages that we purchase, or in which we purchase a participation interest. The servicing duties of the Lender are:
Servicing Duties. Borrower agrees to provide servicing and management of the Portfolio at all times on and after the Effective Date and continuing through the Servicing Termination Date, in all cases subject to the terms of this Agreement. Such services include, without limitation, (i) possessing, keeping and maintaining Books, (ii) receiving, processing, accounting for and delivering all Collections to the Collection Account until the Servicing Termination Date, (iii) monitoring and pursuing payments under the Premium Finance Documents, (iv) monitoring and managing all Premium Finance Collateral, (v) subject to Section 7, non-judicial and judicial enforcement, liquidation and collection of the Premium Finance Documents, including engagement of attorneys or other professionals for such purpose, and (vi) taking all lawful actions and procedures as reasonably required to comply with Borrower’s obligations under the Premium Finance Documents, maximize the value of the Portfolio and collect the Premium Finance Documents and Premium Finance Collateral included therein.
Servicing Duties. (a) Servicer agrees to provide servicing and management of the Loan Portfolio at all times on and after the Closing Date and continuing through the earliest of (the “Servicing Termination Date”): (i) the termination of Servicer hereunder, in its capacity as servicer, by the mutual written consent of Servicer, Borrower, and Agent; provided, that neither Servicer nor Borrower shall be released from any obligations to perform its duties under this Agreement, and each of Servicer and Borrower shall continue performance of such obligations in full compliance with the standards prescribed by Section 9.5, until the date (the “Transition Completion Date”) when the transition and establishment of replacement arrangements for servicing and managing the Loan Portfolio have been completed to Agent’s satisfaction, in its Permitted Discretion, (ii) the date upon which Agent has terminated Servicer, in its capacity as servicer hereunder in accordance with Section 9.9 of this Agreement, by written notice to each of Servicer and Borrower, after the occurrence and continuation of a Servicer Termination Event, subject to each of Servicer’s and Borrower’s continuing transition obligations as provided herein, and (iii) the date upon which this Agreement and the Lenders’ Commitments have been terminated and the Obligations have been paid in full in all cases subject to the terms of this Agreement. Such services include, without limitation, (A) possessing, keeping and maintaining Books, (B) receiving, processing, accounting for, and delivering, or arranging for the delivery of, all Collections with respect to the Loan Portfolio to Trustee or as Trustee otherwise designates until the Servicing Termination Date, (C) monitoring and pursuing payment of Portfolio Loans and Purchased Participations, (D) monitoring and managing all Portfolio Loan Collateral, (E) subject to Section 9.7, monitoring and managing non-judicial and judicial enforcement, liquidation and collection of the Portfolio Loans and Purchased Participations, including engagement of attorneys or other professionals for such purpose, and (F) taking all lawful actions and procedures as are reasonably required to (1) promptly and diligently comply with Borrower’s obligations under Portfolio Loans and Purchased Participations, (2) maximize the value of the Loan Portfolio, and (3) collect the Portfolio Loans and Purchased Participations included therein. Further, in the event that the Servicing Termination Date occurs as a ...
