PFS definition
Examples of PFS in a sentence
In the event of a replacement of PFS as Servicer, the Issuer shall cause the successor Servicer to agree to indemnify PFS against any losses, liabilities, damages or expenses (including attorneys’ fees), as a result of the negligence or willful misconduct of such successor Servicer occurring after the Servicer Replacement Date.
In connection with any incentive provided with regard to a lease under an End of Term Lease Loyalty Program, PFS shall deposit the amount of the waived monthly payments into the Collection Account within the time period thereafter stated in Section 8.3 of this Transaction SUBI Servicing Supplement after the payment has been processed (or, in the sole discretion of the Servicer, an earlier date).
No such resignation will become effective until a successor Servicer has (i) assumed the responsibilities and obligations of PFS as servicer and (ii) provided in writing the information reasonably requested by the Transferor to comply with its reporting obligation under the Exchange Act with respect to a replacement Servicer.
No failure or delay on the part of PFS, the Issuer or the Asset Representations Reviewer in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right.
The Owner Trustee shall not be required to perform any of the obligations of the Issuer under any Transaction Document that are required to be performed by PFS, PFLP, the Servicer, the Depositor, the Administrator or the Indenture Trustee.