Predecessor Servicer Work Product definition

Predecessor Servicer Work Product shall have the meaning specified in Section 8.2(c) of the Sale and Servicing Agreement.

Predecessor Servicer Work Product has the meaning specified in Section 9.3(e).

Predecessor Servicer Work Product has the meaning specified in Section 6.14.

Examples of Predecessor Servicer Work Product in a sentence

• If any error, inaccuracy, commission or incorrect or nonstandard practice or procedure (collectively, “Errors”) exists in any Predecessor Servicer Work Product and such Errors cause Lyon Financial Services, Inc.

• Notwithstanding anything contained in the Indenture to the contrary, any successor Servicer is authorized to accept and rely on all of the accounting, records (including computer records) and work of the prior Servicer relating to the Timeshare Loans (collectively, the "Predecessor Servicer Work Product"), without any audit or other examination thereof, and such successor Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of the prior Servicer.

• If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively, "Errors") exists in any Predecessor Servicer Work Product and such Errors make it more difficult to service or should cause or contribute to a successor Servicer making or continuing any Errors (collectively, "Continued Errors"), such successor Servicer shall have no duty or responsibility for such Continued Errors.

• Notwithstanding anything contained in this Agreement to the contrary, the Trustee, as successor Servicer, is not responsible for the accounting, records (including computer records) and work of the prior Servicer relating to the collateral (collectively, the "Predecessor Servicer Work Product"), and the Trustee shall have no liability for the acts and omissions of the prior Servicer.

• Notwithstanding anything contained herein to the contrary, any successor Servicer is authorized to accept and rely on all of the accounting, records (including computer records) and work of the predecessor Servicer relating to the contract (collectively, the "Predecessor Servicer Work Product") without any audit or other examination thereof, and such successor Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of any predecessor Servicer.

More Definitions of Predecessor Servicer Work Product

Predecessor Servicer Work Product shall have the meaning specified in Section 5.16(f)(i) of the Indenture.

Predecessor Servicer Work Product has the meaning given such term in Section 5.1(g) of the Servicing Agreement.

Predecessor Servicer Work Product shall have the meaning specified in Section 5.19 of the Indenture and Servicing Agreement.

Predecessor Servicer Work Product. Defined in Section 6.19(e).

Predecessor Servicer Work Product without any audit or other examination thereof, and the successor Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of the prior Servicer. If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively, “Errors”) exists in any Predecessor Servicer Work Product and such Error makes it materially more difficult to service or should cause or materially contribute to the successor Servicer making or continuing any Error (collectively, “Continuing Errors”), the successor Servicer shall have no duty, responsibility, obligation or liability for such Continuing Errors; provided, however, that the successor Servicer agrees to use its best efforts to prevent further Continuing Errors. If the successor Servicer becomes aware of Errors or Continuing Errors, it shall, with the prior consent of the Holders of Notes evidencing at least 51% of the Note Balance of the Controlling Class, use its best efforts to reconstruct and reconcile such data as is commercially reasonable to correct such Errors and Continuing Errors and to prevent future Continuing Errors. The successor Servicer shall be entitled to recover its costs expended in connection with such efforts in accordance with Sections 2.8(a)(ii) and (xiii) of the Indenture, as applicable.

Predecessor Servicer Work Product without any audit or other examination thereof, except where, in the exercise of reasonable care, such audit or examination would be advisable, and such Successor Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of the prior Servicer. If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively, “Errors”) exist in any Predecessor Servicer Work Product and such Errors make it materially more difficult to service or should cause or materially contribute to such Successor Servicer making or continuing any Errors (collectively, “Continued Errors”), such Successor Servicer shall have no duty, responsibility, obligation or liability to perform servicing or for such Continued Errors; provided, however, that such Successor Servicer agrees to use commercially reasonable efforts to prevent further Continued Errors. In the event that such Successor Servicer becomes aware of Errors or Continued Errors, such Successor Servicer shall, with the prior consent of the Agent, use its best efforts to reconstruct and reconcile such data as is commercially reasonable to correct such Errors and Continued Errors and to prevent future Continued Errors. Any such Successor Servicer shall be entitled to recover its costs thereby expended to the extent of funds available therefor pursuant to the provision of Section 2.3(b) of the Loan Agreement. The Servicer agrees to cooperate and use its best efforts in effecting the transition of the responsibilities and rights of servicing of the Obligor Loan Documents, including, without limitation, the transfer to any Successor Servicer for the administration by it of all cash amounts that shall at the time be held by Servicer for deposit, or have been deposited by the Servicer, or thereafter received with respect to the Obligor Loan Documents and the delivery to such Successor Servicer in an orderly and timely fashion of all files and records with respect to the Obligor Loan Documents and a computer tape in readable form (consistent with the Loan Tape) containing all information necessary to enable the Successor Servicer to service the Contracts. In addition, the Servicer agrees to cooperate and use its best efforts in providing at the Servicer’s expense the Successor Servicer with reasonable access (including at the premises of the Servicer) to Servicer’s employees, and any and all of the books, records (in electronic or other form) or other information reaso...

Predecessor Servicer Work Product has the meaning set forth in Section 10(p)(vii) of the Agreement.