Common use of Appointment and Duties of Servicer Clause in Contracts

Appointment and Duties of Servicer. (a) The managing, ---------------------------------- servicing, administering and making collections on the Contracts shall be conducted by the Person so designated from time to time as Servicer in accordance with this Agreement. PeopleFirst is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Servicer pursuant to the terms hereof and the other Basic Documents. Subject to the resignation of PeopleFirst as Servicer pursuant to Section 7.5 or the termination of PeopleFirst as Servicer pursuant to Section 8.1 and, in either case, the assumption by the Backup Servicer, or the designation of a successor Servicer hereunder as the case may be, of the Servicer's duties and responsibilities in accordance with Section 8A.7, PeopleFirst shall continue to manage, service, administer and collect on the Receivables pursuant to this Agreement, unless and until expressly agreed otherwise by the Seller, the Issuer and the Controlling Party. The Servicer, as agent for the Issuer and the Insurer (to the extent provided herein), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) in accordance with all applicable federal, state or local laws and regulations and with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to all comparable automotive receivables that it services for itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of motor vehicle loans (the "Servicing Standard"), except that the Servicer shall not be obligated, and does not currently intend, to (i) obtain force-placed insurance concerning any Financed Vehicle or (ii) monitor any Obligor's maintenance of such insurance. The Servicer's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment statements to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee, Indenture Trustee and the Insurer with respect to distributions, reporting tax information, if any, to Obligors and delivering Receivable Files to the Custodian. Subject to the provisions of Section 4.2, the Servicer shall follow its customary standards, policies and procedures in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Indenture Trustee, the Insurer, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments without recourse to the Trust, with respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Trust (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee or the Indenture Trustee shall, at the Servicer's expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Owner Trustee, the Certificateholders, Indenture Trustee or the Noteholders. The Owner Trustee and the Insurer shall upon the written request of the Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee and/or the Insurer by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.

Appointment and Duties of Servicer. (a) The managing, ---------------------------------- servicing, administering and making collections on the Contracts shall be conducted by the Person so designated from time to time as Servicer in accordance with this Agreement. PeopleFirst [__________] is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Servicer pursuant to the terms hereof and the other Basic Documents. Subject to the resignation of PeopleFirst [__________] as Servicer pursuant to Section 7.5 or the termination of PeopleFirst [__________] as Servicer pursuant to Section 8.1 and, in either case, the assumption by the Backup Servicer, or the designation of a successor Servicer hereunder as the case may be, of the Servicer's duties and responsibilities in accordance with Section 8A.7, PeopleFirst [__________] shall continue to manage, service, administer and collect on the Receivables pursuant to this Agreement, unless and until expressly agreed otherwise by the Seller, the Issuer and the Controlling Party. The Servicer, as agent for the Issuer and the Insurer (to the extent provided herein), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) in accordance with all applicable federal, state or local laws and regulations and with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to all comparable automotive receivables that it services for itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of motor vehicle loans (the "Servicing StandardSERVICING STANDARD"), except that the Servicer shall not be obligated, and does not currently intend, to (i) obtain force-placed insurance concerning any Financed Vehicle or (ii) monitor any Obligor's maintenance of such insurance. The Servicer's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment statements to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee, Indenture Trustee and the Insurer with respect to distributions, reporting tax information, if any, to Obligors and delivering Receivable Files to the Custodian. Subject to the provisions of Section 4.2, the Servicer shall follow its customary standards, policies and procedures in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Indenture Trustee, the Insurer, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments without recourse to the Trust, with respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Trust (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee or the Indenture Trustee shall, at the Servicer's expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Owner Trustee, the Certificateholders, Indenture Trustee or the Noteholders. The Owner Trustee and the Insurer shall upon the written request of the Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee and/or the Insurer by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.

Appointment and Duties of Servicer. (a) The managing, ---------------------------------- servicing, administering and making collections on the Contracts shall be conducted by the Person so designated from time to time as Servicer in accordance with this Agreement. PeopleFirst ___________ is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Servicer pursuant to the terms hereof and the other Basic Documents. Subject to the resignation of PeopleFirst ___________ as Servicer pursuant to Section 7.5 or the termination of PeopleFirst ___________ as Servicer pursuant to Section 8.1 and, in either case, the assumption by the Backup Servicer, or the designation of a successor Servicer hereunder as the case may be, of the Servicer's duties and responsibilities in accordance with Section 8A.7, PeopleFirst ___________ shall continue to manage, service, administer and collect on the Receivables pursuant to this Agreement, unless and until expressly agreed otherwise by the Seller, the Issuer and the Controlling Party. The Servicer, as agent for the Issuer and the Insurer (to the extent provided herein), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) in accordance with all applicable federal, state or local laws and regulations and with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to all comparable automotive receivables that it services for itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of motor vehicle loans (the "Servicing Standard"), except that the Servicer shall not be obligated, and does not currently intend, to (i) obtain force-placed insurance concerning any Financed Vehicle or (ii) monitor any Obligor's maintenance of such insurance. The Servicer's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment statements to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee, Indenture Trustee and the Insurer with respect to distributions, reporting tax information, if any, to Obligors and delivering Receivable Files to the Custodian. Subject to the provisions of Section 4.2, the Servicer shall follow its customary standards, policies and procedures in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Indenture Trustee, the Insurer, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments without recourse to the Trust, with respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Trust (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee or the Indenture Trustee shall, at the Servicer's expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Owner Trustee, the Certificateholders, Indenture Trustee or the Noteholders. The Owner Trustee and the Insurer shall upon the written request of the Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee and/or the Insurer by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.