Successor Servicing Sample Clauses

Successor Servicing. The Parties further acknowledge that in connection with any construction or long term financing or other credit support provided to Seller or its affiliates by Financing Parties, that such Financing Parties may require that Seller or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to the System and/or administrative services with respect to this Agreement (the “Successor Provider”). Purchaser agrees to accept performance from any Successor Provider so appointed so long as such Successor Provider performs in accordance with the terms of this Agreement.
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Successor Servicing. The Parties further acknowledge that in connection with any construction or long term financing or other credit support provided to Lessor or its affiliates by Financing Parties, that such Financing Parties may require that Lessor or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to the System and/or administrative services with respect to this Agreement (the “Successor Provider”). Lessee agrees to accept performance from any Successor Provider so appointed so long as such Successor Provider performs in accordance with the terms of this Agreement.
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Successor Servicing. With fifteen (15) business days prior written notice from Client or Client’s designated indenture trustee (the “Transfer Notice”), PFSC shall service the Client Portfolio; It is hereby acknowledged and agreed that, notwithstanding the delivery of a Transfer Notice, PFSC shall not be obliged to complete the transfer of servicing and assume the role of successor servicer for so long as Client or any other person fails to provide access to its facilities or items and information necessary to begin servicing the receivables in the Client Portfolio or PFSC’s ability to take on such servicing role is otherwise frustrated in a continuing and material manner. Notwithstanding anything contained herein or in any documents or agreements to the contrary, the delivery of a Transfer Notice in connection with the appointment of PFSC as successor servicer is subject to the understanding that (i) PFSC shall have no obligation of Client in any other capacity (including without limitation in its individual capacity) and (ii) PFSC’s obligations as successor servicer shall be solely as set forth in this Agreement and PFSC as successor servicer shall have no duties or obligations under any other documents or agreements. Additionally, Client agrees to use commercially reasonable efforts to reasonably cooperate with PFSC in connection with PFSC’s performance of its obligations hereunder, including without limitation, during any transition, if applicable, from backup servicer to successor servicer. In the event that a Transfer Notice is delivered, it is hereby agreed that unless and until the transfer of servicing to PFSC is completed, Client shall continue to perform all servicing functions to the extent not being performed by PFSC.
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Successor Servicing. The Parties acknowledge that in connection with any construction or long term financing or other credit support provided to Project Company or its affiliates by a Lender, such Lender may require that Project Company or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to the Solar Facilities and/or administrative services with respect to this Lease (the “Successor Provider”). Xxxxxxxx agrees to accept performance from any Successor Provider so appointed so long as (a) Landlord consents to such Successor Provider, which consent shall not be unreasonably withheld, and (2) the Successor Provider agrees to perform in accordance with the terms of this Lease.
Sample 1
Successor Servicing. With five (5) business days prior written notice from Client or Client’s designated indenture trustee, PFSC shall service the Client Portfolio.
Sample 1
Successor Servicing. The Parties further acknowledge that in connection with any construction or long term financing or other credit support provided to Service Provider or its affiliates by Financing Parties, that such Financing Parties may require that Service Provider or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to All Systems and/or administrative services with respect to this Agreement (the “Successor Provider”). Client agrees to accept performance from any Successor Provider so appointed so long as such Successor Provider performs in accordance with the terms of this Agreement and there is no material reduction in the obligations hereunder owed to Client by Service Provider or such Successor Provider.
Sample 1
Successor Servicing. The Parties further acknowledge that in connection with any construction or long term financing or other credit support provided to Seller or its affiliates by Financing Parties, that such Financing Parties may require that Seller or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to the System and/or administrative services with respect to this Agreement (the “Successor Provider”). Purchaser agrees to accept performance from any Successor Provider so appointed, provided, that (i) such Successor Provider performs in accordance with the terms of this Agreement, and (ii) such Successor Provider (x) has comparable experience in operating and maintaining photovoltaic solar systems comparable to the System and providing services comparable to those contemplated by this Agreement and (y) has the financial capability to maintain the System and provide the services contemplated by this Agreement in the manner required by this Agreement.
Sample 1
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Successor Servicing. The Parties further acknowledge that in connection with any construction or long term financing or other credit support provided to Seller or its affiliates by Financing Parties, that such Financing Parties may require that Seller or its affiliates appoint a third party to act as backup or successor provider of operation and maintenance services with respect to the System and/or administrative services with respect to this Agreement (the “Successor Provider”). Purchaser agrees to accept performance from any Successor Provider so appointed so long as such Successor Provider (i) has adequate experience, fitness and expertise (in Purchaser’s reasonable judgment) in designing, constructing, installing, operating and maintaining solar electric generating systems similar to the System, or has employed or entered into a contract with reputable third parties with comparable experience , fitness and expertise in connection with the operation and maintenance of the System; and (ii) has (in Purchaser’s reasonable judgment) the financial capability (including insurance) to maintain the System in the manner required by this AGREEMENT.
Sample 1

Related to Successor Servicing

  • Successor Servicer Each of Processor and the Trustee agrees that if the Servicer has been terminated or resigns as Servicer, this Agreement shall not thereupon terminate and the successor servicer appointed pursuant to the Sale and Servicing Agreement shall succeed, except as otherwise provided herein, to all rights, benefits, duties and obligations of the Servicer hereunder. Prior to the termination or resignation of the Trustee or the Servicer, the Trustee or the Servicer, respectively, shall provide notice to Processor in accordance with the terms and conditions to which each of the Trustee or the Servicer, respectively, is itself entitled upon termination or resignation.

  • Appointment of Successor Servicer (a) Upon the Servicer’s receipt of notice of termination pursuant to Section 7.01 or the Servicer’s resignation pursuant to Section 6.05, the predecessor Servicer shall continue to perform its functions as Servicer under this Agreement, in the case of termination, only until the date specified in such termination notice or, if no such date is specified in a notice of termination, until receipt of such notice and, in the case of resignation, until the later of (i) the date forty-five (45) days from the delivery to the Trustees of written notice of such resignation (or written confirmation of such notice) in accordance with the terms of this Agreement and (ii) the date upon which the predecessor Servicer shall become unable to act as Servicer, as specified in the notice of resignation and accompanying Opinion of Counsel. In the event of the Servicer’s termination hereunder, the Indenture Trustee shall appoint a Successor Servicer, and the Successor Servicer shall accept its appointment (including its appointment as Administrator under the Administration Agreement as set forth in Section 7.02(b)) by a written assumption in form acceptable to the Trustees. In the event that a Successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer and the Indenture Trustee shall be entitled to receive the Total Servicing Fee. Notwithstanding the above, the Indenture Trustee shall, if it shall be legally unable or unwilling so to act, appoint or petition a court of competent jurisdiction to appoint any established institution, having a net worth of not less than $50,000,000 and whose regular business shall include the servicing of automobile receivables (including light-duty trucks), as the successor to the Servicer under this Agreement. In no event shall the Successor Servicer be liable for the acts or omissions of any predecessor Servicer.

  • Successor Servicer and Administrator The Administrator shall undertake, as promptly as possible after the giving of notice of termination to the Servicer of the Servicer’s rights and powers pursuant to Section 8.1 of the Sale and Servicing Agreement, to enforce the provisions of such Section 8.1 or Section 8.2 of the Sale and Servicing Agreement, as applicable, with respect to the appointment of a Successor Servicer. Such Successor Servicer shall, upon compliance with the last sentence of Section 8.2(a) of the Sale and Servicing Agreement, become the successor Administrator hereunder; provided, however, that if the Indenture Trustee shall become such successor Administrator, the Indenture Trustee shall not be required to perform any obligations or duties or conduct any activities as the successor Administrator that would be prohibited by law and not within the banking and trust powers of the Indenture Trustee; and, provided, further, that the Indenture Trustee as the successor Administrator shall not assume any of the obligations specified in Section 2(a)(ii). In such event, the Indenture Trustee may appoint a sub-administrator to perform such obligations and duties. Any transfer of servicing pursuant to Section 8.2 of the Sale and Servicing Agreement and related succession as Administrator hereunder shall not constitute an assumption by the related successor Administrator of any liability of the related outgoing Administrator arising out of any breach by such outgoing Administrator of such outgoing Administrator’s duties hereunder prior to such transfer.

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