Appointment and Acceptance as Servicer. Effective as of the Closing Date, but subject to Section 3.3 of the Transfer Agreement (with which the Manager agrees to comply) and the further obligations hereunder with respect to retention of the Servicer, the Manager is hereby appointed (and xxxxxx accepts the appointment) with full authority and responsibility, in its own name, to act as the servicer for the Assets and any Collateral. Until such time as the Company is wound up pursuant to Section 9.2, and except as otherwise provided in Section 12.4 and subject to the interim servicing being provided by or on behalf of the Initial Member (as the Transferor) pursuant to Section 3.3 of the Transfer Agreement, the Manager will, with respect to each Asset or Group of Assets, from and after the Closing Date, be responsible for (and hereby assumes responsibility for) Servicing in accordance with the standards (collectively, the “Servicing Standard”) set forth in Section 1 of the Servicing Addendum attached hereto as Annex IV (and references in the Transaction Documents to this Article XII will be deemed to include such Servicing Addendum) and the terms set forth in Section 2 of the Servicing Addendum and elsewhere in this Article XII (such obligations in respect of Servicing referred to collectively herein as the “Servicing Obligations”). Without in any way limiting the foregoing, but subject to Section 3.3 of the Transfer Agreement and applicable rights of the Manager to perform Asset Management pursuant to Section 12.3(a) and engage a JDC Contractor pursuant to Section 12.3(c), the Manager must cause the Assets (including, for all purposes under this Article XII, the related Collateral) to be serviced as follows: (i) such Asset will, from and after the applicable Servicing Transfer Date (and continuing until the winding-up of the Company pursuant to Section 9.2), and except as provided in the immediately following clause (ii) or as otherwise expressly permitted by the Initial Member, be Serviced by or through the Servicer appointed in accordance with Section 12.3 below, and (ii) following the replacement of the Servicer as a result of an Event of Default, the Assets will be serviced by or through the Servicer appointed by the Initial Member in accordance with Section 12.4 below. All Servicing following the Closing Date must be performed in accordance with the terms of the Transfer Agreement and this Article XII. (b) [Intentionally Omitted].
Appointment and Acceptance as Servicer. Effective as of the date hereof (and, with respect to each Asset or Group of Assets, as of the applicable Servicing Transfer Date with respect thereto), the Manager appoints the Servicer to service, administer, manage and dispose of the Assets and the Collateral on behalf of and as an agent of the Manager.
Appointment and Acceptance as Servicer. Effective as of the Cut-Off Date, the Company is appointed (and accepts the appointment as) servicer for the Loans and any Collateral (sometimes referred to herein as the “servicer”).
Appointment and Acceptance as Servicer. Effective as of the Closing Date, but subject to Section 3.3 of the Contribution Agreement (with which the Manager agrees to comply), the Manager is hereby appointed (and hereby accepts the appointment) with full authority and responsibility, in its own name, to act as the servicer for the Loans and any Underlying Collateral. Until such time as the Company is dissolved and liquidated pursuant to Article IX, and except as otherwise provided in Section 12.4 and subject to the interim servicing being provided by the Initial Member pursuant to Section 3.3 of the Contribution Agreement, the Manager shall, with respect to each Loan or Group of Loans, from and after the Servicing Transfer Date with respect thereto, be responsible for (and hereby assumes responsibility for) servicing, administering, managing and disposing of the Loans and the Underlying Collateral in accordance with the standards (collectively, the “Servicing Standard”) set forth in Section 12.2 (such obligations referred to collectively herein as the “Servicing Obligations”) and the other provisions of this Article XII, including the provisions of
Appointment and Acceptance as Servicer. Effective as of the date hereof, the Company appoints the Servicer to service and administer the Loans and any Collateral on behalf of and as an agent of the Company.
