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 ...
Appointment and Designation of the Servicer. (a) The Borrower, the Lenders and the Agent hereby appoint Xxxxxx (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 Collateral. 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. Xxxxxx hereby agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof at all times, until the earliest to occur of (i) the Agent’s designation of a new Servicer pursuant to Section 6.26, (ii) the delivery by the Agent of its written consent to the appointment by the Borrower of a new Servicer, and (iii) the Collection Date. Each of the Borrower and Xxxxxx hereby grants to any successor Servicer an irrevocable power of attorney to take any and all steps in the Borrower’s, Marlin’s or the Servicer’s name, as applicable, and on behalf of the Borrower or Xxxxxx, necessary or desirable, in the determination of such successor Servicer, to service, administer or collect any and all Pledged Receivables and other Collateral.
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
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.
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
Appointment and Designation of the Servicer
