Examples of Applicable Servicer in a sentence
The Applicable Servicer will not dispose of any documents constituting the Required Portfolio Documents and Portfolio Asset Files in any manner that is inconsistent with the performance of its obligations as the Applicable Servicer pursuant to this Agreement and will not dispose of any portion of the Collateral Portfolio except in each case, as contemplated by this Agreement or as is consistent with the Servicing Standard.
Each Applicable Servicer agrees to cooperate with the Borrower in effecting the termination of the responsibilities and rights of each Applicable Servicer to conduct servicing of this Agreement (including the right to direct remittances out of the Collection Accounts).
If such Applicable Servicer is the Facility Servicer, such Applicable Servicer shall be entitled to receive, to the extent of funds available therefor pursuant to Section 2.08, fees, amounts, expenses or indemnities it is entitled to pursuant to the provisions of this Agreement (collectively, the “Servicer Termination Expenses”).
The Applicable Servicer has complied in all material respects with the Servicing Standard with regard to the servicing of the Portfolio Assets.
All authority and power granted to an Applicable Servicer under this Agreement shall automatically cease and terminate on the Facility Termination Date and shall pass to and be vested in the Borrower thereafter.