Appointment and Designation of the Servicer Sample Clauses

Appointment and Designation of the Servicer. (a) The Borrower and the Lenders hereby appoint the Person designated by the Controlling Holders from time to time, pursuant to this Section 6.01 (the “Servicer”), as their agent to service, administer and collect the Pledged Receivables and otherwise to enforce their respective rights and interests in and under the Pledged Receivables and the other Pledged Assets. The Servicer shall collect such Pledged Receivables under the conditions referred to above by means of the collection procedures as set forth in the Credit and Collection Policy, to the extent consistent with the provisions of this Article VI. Unless otherwise specified by the Borrower, the Servicer’s authorization under this Agreement shall terminate on the Collection Date. Until the Controlling Holders give notice to the Borrower of a designation of a new Servicer upon the occurrence and during the continuance of any Servicer Default, or consents in writing to the appointment by the Borrower of a new Servicer, LEAF Financial is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer, pursuant to the terms hereof at all times until the earlier of the Controlling Holders’ designation of the Backup Servicer or any other Person as the new Servicer (upon the occurrence and during the continuance of any Servicer Default), the delivery by the Controlling Holders of their written consent to the appointment by the Borrower of a new Servicer or the Collection Date. Upon the occurrence and during the continuance of any Servicer Default, the Controlling Holders may at any time designate as Servicer the Backup Servicer, or any other Person with demonstrated experience in servicing equipment leases and loans, to succeed LEAF Financial or any successor Servicer, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Servicer pursuant to (i) the terms hereof or (ii) such other terms as are agreed to in writing by such successor Servicer and the Controlling Holders, and which (x) require such successor Servicer to service the Pledged Receivables in a commercially reasonable manner that is (A) consistent with the servicing of similar equipment leases and loans by such successor Servicer and (B) no less stringent than the servicing standard required by the Credit and Collection Policy and (y) does not provide for payment of servicing or other fees which in the aggregate exceed the Servicing Fee as in effect ...
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Appointment and Designation of the Servicer. (a) The Borrower, the Lender and the Administrator hereby appoint the Servicer as their agent to service, administer and collect the Pledged Receivables and otherwise to enforce their respective rights and interests in and under the Pledged Receivables and the other Pledged Assets, and the Servicer hereby accepts such appointment and agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof at all times until the earlier of the Administrator’s designation of a new Servicer as provided herein, the delivery by the Administrator of its consent to the appointment by the Borrower of a Successor Servicer or the Final Payment Date. The Servicer shall collect such Pledged Receivables under the conditions referred to above by means of the collection procedures as set forth in the Servicing Policies and Procedures, to the extent consistent with the provisions of this Article VI. The Servicer’s authorization under this Agreement shall terminate on the Final Payment Date. Upon the occurrence and during the continuance of any Servicer Default or any Event of Default, the Administrator may at any time (with the approval of the Lender) terminate Freedom Financial or any Successor Servicer as Servicer and designate as Servicer any Person to succeed Freedom Financial or any Successor Servicer, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Servicer pursuant to the terms hereof.
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Appointment and Designation of the Servicer. (a) The Borrower, the Lender and the Agent hereby appoint the Person designated by the Agent from time to time (with the approval of the Lender) pursuant to this Section 6.01 (the "Servicer"), as their agent to service, administer and collect the Pledged Receivables and otherwise to enforce their respective rights and interests in and under the Pledged Receivables and the other Pledged
Sample 1
Appointment and Designation of the Servicer. (a) Unless otherwise provided in this Agreement, including Section 6.11, the Servicer’s authorization under this Agreement shall terminate on the Termination Date. Until a Successor Servicer is appointed pursuant to Section 6.11, the Initial Servicer is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer, pursuant to the terms hereof.
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Appointment and Designation of the Servicer. 110111 Section 11.02 Duties of the Servicer 112113 Section 11.03 Authorization of the Servicer 114115 Section 11.04 Collection Efforts, Modification of Collateral 114116
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Appointment and Designation of the Servicer 
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Related to Appointment and Designation of the Servicer

  • Designation of the Servicer The servicing, administering and collection of the Collateral shall be conducted by the Person designated as a servicer in accordance with this Agreement, the Servicing Agreement or the Backup Servicing Agreement, as applicable. Borrower hereby acknowledges that each of the Secured Parties is a third-party beneficiary of the obligations taken by the Servicer and the Backup Servicer under the Servicing Agreement and the Backup Servicing Agreement, respectively.

  • APPOINTMENT OF THE SUB-ADVISER The Adviser hereby appoints the Sub-Adviser to act as an investment adviser for each Portfolio, subject to the supervision and oversight of the Adviser and the Trustees of the Trust, and in accordance with the terms and conditions of this Agreement. The Sub-Adviser will be an independent contractor and will have no authority to act for or represent the Trust or the Adviser in any way or otherwise be deemed an agent of the Trust or the Adviser except as expressly authorized in this Agreement or another writing by the Trust, the Adviser and the Sub-Adviser.

  • Appointment of the Custodian The Trustee may, with the consent of the Master Servicer and the Company, or shall, at the direction of the Company and the Master Servicer, appoint custodians who are not Affiliates of the Company, the Master Servicer or any Seller to hold all or a portion of the Custodial Files as agent for the Trustee, by entering into a Custodial Agreement. Notwithstanding anything to the contrary contained herein, the Company, Master Servicer and Trustee acknowledge that the functions of the Trustee hereunder with respect to the acceptance, custody, inspection and release of Custodial Files, and the preparation and delivery of the Interim Certification required pursuant to Section 2.02, shall be performed by the Custodian as and to the extent set forth in the Custodial Agreement. Subject to Article VIII, the Trustee agrees to comply with the terms of each Custodial Agreement with respect to the Custodial Files and to enforce the terms and provisions thereof against the related custodian for the benefit of the Certificateholders. Each custodian shall be a depository institution subject to supervision by federal or state authority, shall have a combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the jurisdiction in which it holds any Custodial File. Each Custodial Agreement, with respect to the Custodial Files, may be amended only as provided in Section 11.01. The Trustee shall notify the Certificateholders of the appointment of any custodian (other than the custodian appointed as of the Closing Date) pursuant to this Section 8.11.

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