Serviced Receivables definition
Examples of Serviced Receivables in a sentence
Subject to Clause 3, the Purchaser hereby appoints the Servicers and, in respect of the Italian Servicer, also as its mandatario con rappresentanza, to service, collect, monitor and administer all Serviced Receivables and perform all related functions thereto in the name and on behalf of the Purchaser on the terms and subject to the conditions of this Agreement until termination pursuant to Clause 8.1, and the Servicers hereby accept such appointment by the Purchaser.
For this purpose, the Servicers are authorised, to the extent permitted by any applicable law, to ▇▇▇ Obligors in any court or in any competent jurisdiction or, if applicable, before any agreed arbitration panel for the account of the Purchaser and the Purchaser shall where necessary assist the Servicers in exercising all rights and remedies in connection with the relevant Serviced Receivables.
Servicer hereby revocably appoints Sub-Servicer as its agent to sub-service the Serviced Receivables (such Serviced Receivables may be referred to collectively as the “Sub-Serviced Assets”).
The Servicer shall follow its customary standards, policies, and procedures in performing its duties as Servicer; provided, that with respect to the Sub- Serviced Receivables and for so long as the Sub-Servicer is sub-servicing the Sub-Serviced Receivables, for purposes of this Section 4.1 and of Sections 4.2 and 4.3, the Servicer shall follow the Sub-Servicer's customary standards, policies, practices and procedures.
In addition, the historical information furnished to Servicer that is attached as Exhibit E to each Indenture Supplement executed on or about the date hereof, for purposes of, or in connection with, this Agreement or any Related Document with respect to the Serviced Receivables, was true, complete and correct in all material respects on the date as of which such information was stated or certified, or as of the date most recently updated thereafter.
Sub-Servicer shall use commercially reasonable efforts to promptly (i) apply all payments received by any Obligor (and, if applicable, the related advertising agency if such Obligor is an advertiser customer) to the related Serviced Receivables and (ii) identify all unidentified payments and apply all unapplied payments, in each case, in respect of the related Serviced Receivables, as applicable.
Servicer shall take such steps as are necessary to maintain perfection of Issuer’s security interest in the Serviced Receivables and Issuer hereby authorizes Servicer to take such steps as are necessary to re-perfect such security interest on behalf of Issuer or its assigns for any reason, including the filing of UCC financing statements (and any amendments or continuations) without the related debtor’s signature.
Servicer shall advise Issuer promptly, in reasonable detail, (i) of any Liens (other than Permitted Encumbrances) known to it that is made or asserted against any Serviced Receivable, and (ii) of the occurrence of any event known to it which would have a material adverse effect on the aggregate value of the Serviced Receivables.
Servicer shall furnish to Issuer from time to time such statements and schedules further identifying and describing the Serviced Receivables and such other reports in connection with the Serviced Receivables as Issuer may reasonably request, all in reasonable detail.
Evaluate and assess the Debtor's computer hardware programs and all license agreements and arrangements relating thereto and all telephone and communications systems and agreements utilized by, or which may be useful to, the Debtor in servicing the Serviced Receivables.