Original Servicer definition

Original Servicer means the Bank;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Original Servicer shall have the meaning specified in the recitals hereto.

Original Servicer means ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital & Finance Corporation, a Delaware corporation."

Examples of Original Servicer in a sentence

• CONA, in its capacity as New Servicer, acknowledges and confirms that it is bound by the Agreement, that it has accepted all of COBNA’s right, title, and interest, and has assumed all of COBNA’s duties, obligations, and liabilities and the performance of every covenant, in, to, and under the Agreement, and has agreed that it shall be substituted for COBNA, in its capacity as Original Servicer, under the Agreement.

• The Original Servicer shall pay or reimburse all Reliening Expenses on demand.

• In addition, the Original Servicer (or a Successor Servicer (as defined below), if applicable) shall determine whether any amounts in the Lockbox Account do not constitute Remittances with respect to receivables of one of the three Types referred to above, but have nonetheless been paid or deposited thereto by a customer in error (“Misdirected Payments”).

• In addition, the Original Servicer (or a Successor Servicer) shall determine whether any amounts in the Lockbox Accounts do not constitute Remittances with respect to either Financing Assets or Other Assets, but have nonetheless been paid or deposited thereto by a customer in error (“Misdirected Payments”).

• To the extent such Remittances constitute Financing Remittances, the Original Servicer shall determine which Financing each portion of such Financing Remittances relate to and cause the transfer of such funds, to the extent it is permitted to do so pursuant to Section 3(e)(1) below, to the appropriate collection account in accordance with (and within the time frames specified by) the related Financing Documents.

• CONA, in its individual capacity and as New Servicer, acknowledges and confirms that it is bound by the Agreement, that it has accepted all of COBNA’s right, title, and interest, and has assumed all of COBNA’s duties, obligations, and liabilities and the performance of every covenant, in, to, and under the Agreement, and has agreed that it shall be substituted for COBNA, in its individual capacity and as Original Servicer, under the Agreement.

• The Original Servicer agrees to pay the Account Custodian and the Concentration Account Bank, upon receipt of the Account Custodian’s and the Concentration Account Bank’s invoice, all costs, expenses and attorneys’ fees incurred by the Concentration Account Bank in the preparation and administration of this Agreement (including any amendments hereto or instruments or agreements required hereunder).

• The obligations of the Original Servicer under this Section 16 shall survive the termination of this Agreement and/or the earlier termination or resignation of an Indemnified Party.

• The Original Servicer confirms to each of the parties hereto that all actions of the Original Servicer taken hereunder and under the Lockbox Agreement with respect to Remittances received in the Lockbox or Lockbox Accounts shall be in its capacity as servicer under the applicable Financing Documents or hereunder and not in its individual capacity.

• The parties acknowledge that such property may be necessary to or useful in the servicing, administration and collection of the Securitization Assets and the Other Assets and agree to cooperate in good faith such that the respective interests of any Securitization Agent, the Original Servicer and the Originator therein, and with respect thereto, shall be protected and preserved.

More Definitions of Original Servicer

Original Servicer or “Original Calculation Agent”) and in its individual capacity, Discover Funding LLC, a Delaware limited liability company (“Funding”), as transferor (the “Transferor”) and in its individual capacity, and Capital One, National Association, a national banking association (“CONA”), in its capacity as new originator, seller, master servicer, servicer and calculation agent (collectively, the “New Originator, Seller, Master Servicer, Servicer, and Calculation Agent” and, individually, the “New Originator,” “New Seller,” “New Master Servicer,” “New Servicer” or “New Calculation Agent”) and in its individual capacity.

Original Servicer is inserted in Section 1.1 of the Loan Agreement, to read as follows:

Original Servicer means FCDQ;