Subservicing. (a) The Master Servicer may arrange for the subservicing of any Mortgage Loan by a subservicer (each, a "Subservicer") pursuant to a subservicing agreement (each, a "Subservicing Agreement"); provided that such subservicing arrangement and the terms of the related Subservicing Agreement must provide for the servicing of such Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Notwithstanding the provisions of any Subservicing Agreement, any of the provisions herein relating to agreements or arrangements between the Master Servicer or a Subservicer or reference to actions taken through the Master Servicer or otherwise, the Master Servicer shall remain obligated and liable to the Depositor, the Trust, the Trustee and the Certificateholders for the servicing and administration of the Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification from the Subservicer and to the same extent and under the same terms and conditions as if the Master Servicer alone were servicing and administering the Mortgage Loans, and neither the Trustee nor any other party shall have any obligations, duties or liabilities with respect to such Subservicer, including any obligation, duty or liability of the Trustee or any other party to pay such Subservicer's fees and expenses. For purposes of remittance to the Trustee pursuant to this Agreement, the Master Servicer shall be deemed to have received a payment on a Mortgage Loan when a Subservicer has received such payment. The Master Servicer shall be entitled to enter into an agreement with a Subservicer to provide for the delivery of reports and for indemnification of the Master Servicer by such Subservicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. Every subservicing agreement entered into by the Master Servicer shall contain a provision giving the Master Servicer the option to terminate such agreement and at the Master Servicer's option, service the related Mortgage Loans itself pursuant to this Agreement or arrange for any servicing responsibilities to be performed pursuant to the applicable Subservicing Agreement by a successor Subservicer. Any costs and expenses relating to such termination and transfer of servicing shall be the sole expense of the Master Servicer, without any right to ...
Subservicing. The Company shall not hire or otherwise utilize a subservicer or other subcontractor hereunder, or permit any subservicer or subcontractor to itself utilize the services of any subservicer or subcontractor, without the prior written consent of the Purchaser and its designee. Any such subservicer must agree in writing to comply with the provisions of Sections 6.04, 6.05, 6.08 and the sixth paragraph of Section 7.01 to the same extent as if such subservicer were the Company, and with this Section 6.09 and to provide such information relating to such subservicer as the Purchaser or its designee may request from time to time in order to permit the Purchaser or its designee to comply with Regulation AB in connection with any Securitization Transfer. Any subcontractor that performs any of the functions identified in Item 1122(d) of Regulation AB must agree in writing that, if the Purchaser determines that such subcontractor was “participating in the servicing function” within the meaning of Item 1122, such subcontractor will comply with the provisions of Sections 6.05 and 6.08 to the same extent as if such subcontractor were the Company.
Subservicing. (a) The Servicer may enter into Subservicing Agreements for any servicing and administration of Home Loans with any institution that is an Eligible Servicer and in compliance with the laws of each state necessary to enable it to perform its obligations under such Subservicing Agreement. The Servicer shall give prior written notice to the Issuer and the Indenture Trustee of the appointment of any Subservicer. The Servicer shall be entitled to terminate any Subservicing Agreement in accordance with the terms and conditions of such Subservicing Agreement and to either service the related Home Loans directly or enter into a Subservicing Agreement with a successor subservicer which qualifies hereunder. In the event of termination of any Subservicer, and unless a successor Subservicer has otherwise been appointed, all servicing obligations of such Subservicer shall be assumed simultaneously by the Servicer without any additional act or deed on the part of such Subservicer or the Servicer, and the Servicer shall service directly the related Home Loans. Each Subservicing Agreement shall include the provision that such agreement may be immediately terminated by the Indenture Trustee in the event that the Servicer shall, for any reason, no longer be the Servicer. In no event shall any Subservicing Agreement require the Indenture Trustee, as Successor Servicer, for any reason whatsoever to pay compensation to a Subservicer in order to terminate such Subservicer.
Subservicing. WFS, as Master Servicer, shall not appoint, pursuant to Section 4.01 of the Sale and Servicing Agreement, any Subservicer that has not been approved in advance by Financial Security. WFS as Master Servicer shall not cause or permit to become effective any Subservicing Agreement that is in a form that varies substantially from the form thereof set forth as Exhibit E to the Sale and Servicing Agreement unless the form of such varying agreement shall have been approved in writing by Financial Security.
Subservicing. (a) Each Subservicer shall be responsible for the servicing and administration of the Loans for which such Subservicer is designated as the Subservicer on the Loan Schedule; provided, however, that the Servicer may redesignate the Subservicers for particular Loans from time to time; provided, further, that any such redesignation will comply with licensing regulations applicable to such Subservicers. Each Subservicer shall service and administer the related Loans in accordance with the provisions of Section 3.01. As part of its servicing activities hereunder, the Servicer shall enforce the obligations of each Subservicer under this Agreement. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Subservicers, and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicer, in its good faith business judgment, would require were it the owner of the related Loans. The Servicer shall pay the costs of such enforcement at its own expense.
Subservicing. The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Rating Agency Condition shall have been satisfied in connection therewith; and provided further that the Servicer shall remain obligated and be liable to the Issuer, the Trustee and the Securitization Bondholders for the servicing and administering of the Transferred Securitization Property in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Transferred Securitization Property. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer, the Trustee or the Securitization Bondholders shall have any responsibility therefor. Any such appointment shall not constitute a Servicer resignation under Section 5.06.
Subservicing. The Mortgage Loans may be subserviced by a Subservicer on behalf of the Seller in accordance with the servicing provisions of the Interim Servicing Agreement, provided that (i) the Subservicer is a Freddie Mac seller/servicer in good standing, and no event has occurred, xxxxxding but not limited to, a change in insurance coverage, which would make it unable to comply with the eligibility requirements for seller/servicers imposed by Freddie Mac, or which would require notification to Freddie Mac and (ii) xxx Xurchaser approves any Subservicer in writing. Xxx Xxterim Servicer may perform any of its servicing responsibilities under the Interim Servicing Agreement or may cause the Subservicer to perform any such servicing responsibilities on its behalf, but the use by the Interim Servicer of a Subservicer shall not release the Interim Servicer from any of its obligations under the Interim Servicing Agreement and the Interim Servicer shall remain responsible under the Interim Servicing Agreement for all acts and omissions of a Subservicer as fully as if such acts and omissions were those of the Interim Servicer. The Interim Servicer shall pay all fees and expenses of any Subservicer engaged by the Interim Servicer from its own funds.
Subservicing. The Servicer shall not hire or otherwise utilize a subservicer hereunder without the prior written consent of the Owner and its designee. Any such subservicer must agree in writing to comply with Sections 4.04, 4.05, 4.10 and 4.11.
Subservicing. The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Servicer shall not permit any Third Party to xxxx or collect Environmental Control Charges on behalf of the Issuer except (a) as a subcontractor under the active supervision of the Servicer or (b) as required by applicable Requirement of Law and to the extent permitted by applicable Requirement of Law or regulation, after written notice of such appointment is furnished to the Rating Agencies; provided further, however, that the Servicer shall remain obligated and be liable to the Issuer, the Indenture Trustee, and the Environmental Control Bondholders and the PSCWV for the servicing and administering of the Environmental Control Property in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Environmental Control Property. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer (or its members or managers), the Indenture Trustee, any Environmental Control Bondholder or the PSCWV shall have any responsibility therefor.
Subservicing. (a) The Servicer may, with the prior ------------ written consent of the Indenture Trustee and each Rating Agency, enter into Subservicing Agreements for any servicing and administration of Home Loans with any institution which is in compliance with the laws of each state necessary to enable it to perform its obligations under such Subservicing Agreement and is an Eligible Servicer. The Servicer shall give prior written notice to the Issuer, the Indenture Trustee of the appointment of any Subservicer. The Servicer shall be entitled to terminate any Subservicing Agreement in accordance with the terms and conditions of such Subservicing Agreement and to either directly service the related Home Loans or enter into a Subservicing Agreement with a successor subservicer which qualifies hereunder.
