Examples of Servicing Obligations in a sentence
Any acquisition of Collateral must conform with the terms and conditions of this Agreement (including the Servicing Obligations of the Servicer).
If any Assets being Serviced pursuant to this Agreement are insured or guaranteed by any Governmental Authority, the Servicer acknowledges and agrees that, if the Manager so directs pursuant to the Servicing Obligations with respect to such Assets, it will take any and all actions as may be necessary to insure that such insurance or guarantees remain in full force and effect.
Notwithstanding anything to the contrary contained herein, the use of any Subservicer or JDC Contractor will not release the Servicer from any of its Servicing Obligations or other obligations under this Agreement, and the Servicer will remain responsible and liable for all acts and omissions of each Subservicer and JDC Contractor as fully as if such acts and omissions were those of the Servicer.
The Servicer acknowledges and agrees that, upon assumption of the Servicing Obligations with respect to the Assets pursuant to this Agreement, it agrees to fulfill all of the Company’s obligations under the contracts of insurance or guaranty.
Except as otherwise directed by the Manager, the Servicer must use (and cause each applicable Subservicer to so use) its reasonable best efforts to recover from Borrowers and Obligors all amounts of Servicing Expenses that are advanced by the Servicer (as permitted or required pursuant to the Servicing Obligations) as Servicer Advances to the extent that the Borrowers and Obligors are responsible for such Servicing Expenses under the Asset Documents.