Common use of Subservicing Agreements Between Master Servicer and Subservicers Clause in Contracts

Subservicing Agreements Between Master Servicer and Subservicers. The Master Servicer initially appoints HAFC to subservice the Receivables. From time to time after the Closing Date, the Master Servicer may enter into a subservicing agreement with any Person other than HAFC which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Master Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Master Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any agreement relating to subservicing and the Master Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Master Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Master Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 4.11 hereof, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Master Servicer’s obligation to deliver such certificate or statement.

Subservicing Agreements Between Master Servicer and Subservicers. The Master Servicer initially appoints HAFC HAFI to subservice the Receivables. From time to time after the Closing Date, the Master Servicer may enter into a subservicing agreement with any Person other than HAFC HAFI which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Master Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Master Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any agreement relating to subservicing and the Master Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Master Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Master Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 4.11 hereof, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Master Servicer’s obligation to deliver such certificate or statement.

Subservicing Agreements Between Master Servicer and Subservicers. The Master Servicer initially appoints HAFC to subservice the Receivables. From time to time after the Closing Date, the Master Servicer may enter into a subservicing agreement with any Person other than HAFC which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Master Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Master Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any agreement relating to subservicing and the Master Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Master Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The Issuer shall have no liability to the Master Servicer except for payment of the Servicing Fee and reimbursement of repossession and liquidation expenses. The Issuer shall have no obligation to indemnify the Master Servicer for costs or expenses, except with respect to the preceding sentence. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Master Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 4.11 hereof, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Master Servicer’s 's obligation to deliver such certificate or statement.

Subservicing Agreements Between Master Servicer and Subservicers. The Master Servicer initially appoints HAFC to subservice the Receivables. From time to time after the Closing Date, the Master Servicer may enter into a subservicing agreement with any Person other than HAFC which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Master Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Master Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any 50 agreement relating to subservicing and the Master Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Master Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Master Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 4.11 hereof, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Master Servicer’s 's obligation to deliver such certificate or statement.