Appointment and Duties of the Servicer Sample Clauses

Appointment and Duties of the Servicer. The Issuer hereby appoints [ ] as the Servicer and [ ] accepts such appointment. The Servicer, for the benefit of the Issuer (to the extent provided herein), shall manage, service, administer, make collections and discharge liens on the Receivables 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 and others. The Servicer's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee with respect to distributions. 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 and the Owner Trustee or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, 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 Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivables 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 shall, at the Servicer's expense and direction, take steps to enforce such Receivable, including bringing suit in its name. The Owner Trustee shall upon the written request of the Servicer furnish the Servicer with any powers of attorney and execute any other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Owner Trustee shall have no liability for furnishing any power of attorney requested by the Servicer or for executing any other document requested by the Servicer, and shall be entitled to rely on the request of the Servicer without independent investigation in determining that such accou...
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Appointment and Duties of the Servicer. The Company hereby appoints the Servicer as its servicer under this Agreement to perform the investment management functions of the Company set forth herein, and the Servicer hereby accepts such appointment. For so long as no Market Value Event has occurred and no Event of Default has occurred and is continuing and subject to Section 1.04, the services to be provided by the Servicer shall consist of (x) supervising the Portfolio, including communicating with obligors, executing amendments, providing consents and waivers, enforcing and collecting on the Portfolio and otherwise managing the Portfolio on behalf of the Company, delivering Notices of Acquisition on behalf of and in the name of the Company and (y) acting on behalf of the Company for all other purposes hereof and the transactions contemplated hereby. The Servicer agrees to comply with all covenants and restrictions imposed on the Company herein and in each other Loan Document and not to act in contravention of this Agreement. The Company hereby irrevocably appoints the Servicer its true and lawful agent and attorney-in-fact (with full power of substitution) in its name, place and stead and at its expense, in connection with the performance of its duties provided for herein. Without limiting the foregoing: (a) The Servicer shall perform its obligations hereunder with reasonable care and in good faith, using a degree of skill not less than that which the Servicer exercises with respect to assets of the nature of the Portfolio Investments that it manages for itself and others having similar investment objectives and policies; and (b) The Servicer shall not (and shall not cause the Company to) take any action that it knows or reasonably should know would (1) violate the constituent documents of the Company, (2) violate any law, rule or regulation applicable to the Company, (3) require registration of the Company as an "investment company" under the Investment Company Act of 1940, or (4) cause the Company to violate the terms of this Agreement, any other Loan Document or any instruments relating to the Portfolio Investments. The Servicer may employ third parties (including its Affiliates) to render advice (including investment advice) and assistance to the Company and to perform any of the Servicer's duties hereunder, provided that the Servicer shall not be relieved of any of its duties or liabilities hereunder regardless of the performance of any services by third parties. For the avoidance of doubt,...
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Appointment and Duties of the Servicer. The Purchaser and the Seller each hereby appoint CFC as the Servicer and CFC accepts such appointment. The Servicer, for the benefit of the Purchaser (to the extent provided herein), shall manage, service, administer, make collections and discharge liens on the Purchased Receivables 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. If the Servicer shall commence a legal proceeding to enforce a Purchased Receivable, the Purchaser shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Purchased Receivables to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Purchased Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Purchased Receivable, the Administrative Agent will, at its option, at the Servicer's expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Purchaser. The Purchaser shall upon the written request of the Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.
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Appointment and Duties of the Servicer. (a) The Issuer hereby appoints Bay View Acceptance as the Servicer for an initial term commencing on the Closing Date and ending on June 3, 2004, which term shall be automatically extended for successive 364-day terms, until the Notes are paid in full, unless the Agent, in its sole discretion, delivers a Servicer Termination Notice as set forth below. The Servicer hereby agrees that, as of the date hereof, the Servicer shall become bound, for the initial term beginning on the Closing Date and for the duration of each successive term to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. At any time during the initial term or any subsequent term, the Agent may, in its sole discretion, deliver to the Servicer a written notice (a "Servicer Termination Notice") providing that the then current Servicer's duties as Servicer shall terminate at the end of the then current term. (b) The Backup Servicer, if not then acting as successor Servicer, may be terminated as Backup Servicer at any time, with or without cause and without payment of
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Appointment and Duties of the Servicer. (a) The Issuer hereby reaffirms its appointment of AmeriCredit, as assignee of Bay View Acceptance Corporation, as the Servicer for the current term that commenced on June 19, 2006 and ends on September 6, 2007. Beginning with the expiration of such term on September 6, 2007, the term of the appointment of AmeriCredit as Servicer shall be automatically extended for successive 364-day terms, until the Notes are paid in full, unless the Agent, in its sole discretion, delivers a Servicer Termination Notice as set forth below. The Servicer hereby reaffirms its agreement to be bound for the current term that began on June 19, 2006 and ends on September 6, 2007, and for the duration of each successive term to continue as the Servicer subject to and in accordance with the other provisions of this Agreement. At any time during the initial term or any subsequent term, the Agent may, in its sole discretion, deliver to the Servicer a written notice (a “Servicer Termination Notice”) providing that the then current Servicer’s duties as Servicer shall terminate at the end of the then current term. (b) The Backup Servicer, if not then acting as successor Servicer, may be terminated as Backup Servicer at any time, with or without cause. If the Backup Servicer is acting as successor Servicer, (i) the Backup Servicer may be terminated pursuant to the terms of Section 10.02, or (ii) the Agent may terminate the term of the Backup Servicer at any time for any reason, upon sixty (60) days’ written notice to the Backup Servicer. The Agent may terminate the term of the Backup Servicer upon five (5) days’ written notice if the Agent has determined in its reasonable credit judgment that the Backup Servicer has engaged in willful misconduct or gross negligence in the performance of its duties hereunder. (c) The Servicer shall service, administer and make collections on the Receivables, and perform the other actions required of the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables shall be carried out in accordance with its customary and usual collection procedures. The Servicer’s duties shall include, without limitation, collection and posting of all payments, responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending monthly statements to Obligors, reporting any required tax information to Obligors, policing and foreclosing on the collateral (including the Financed Vehicles), accounting for collections and fur...
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Appointment and Duties of the Servicer. 10.1.1 The Compartment has appointed, and the Servicer has accepted such appointment, the Servicer entrusting it with duties of, and conferring to it powers for, the collection and possible recovery of, and the carrying out of, cash and payment services with respect to, the Purchased Receivables pursuant to the 10.1.2 The Servicer shall, where appropriate, act as an independent agent in the name and on behalf of the Compartment in accordance with the applicable laws and regulations and the terms and conditions of the Transfer and Servicing Agreement. Its duties shall include, inter alia, the following: (a) to collect all amounts to be paid by the Borrowers in relation to the Purchased Receivables and to transfer all amounts in relation to the collection of the Purchased Receivables and all amounts payable by the Servicer under the Transfer and Servicing Agreement to the Compartment; (b) to do all things necessary for the collection and possible recovery of all the Purchased Receivables, including the enforcement of any Ancillary Rights and/or other related security with the level of care and diligence it would employ if the Purchased Receivables were its own property; (c) to initiate, prosecute and manage, in accordance with the terms of the Transfer and Servicing Agreement, all foreclosure, enforcement and insolvency proceedings, on behalf and, if necessary, in the name of the Compartment pursuant to any power of attorney to be granted by the Management Company to the Servicer upon its request; (d) to prepare and deliver all notices, communications and documents to be sent by the Compartment, in its capacity as owner of the Purchased Receivables, to the Borrower; (e) to the full extent permitted under any applicable law, to promptly deliver to the Management Company all data relating to the Purchased Receivables and the related collections which are necessary to the maintenance and updating of the Compartment 's accounting books and records; (f) to comply with French anti-money laundering law and regulations; (g) to perform all other servicing activities and functions relating to the servicing and recovery of the Purchased Receivables not specified herein, which must be performed by the Servicer pursuant to the terms of all applicable laws and regulations; (h) to supply to the Management Company, within 180 days after the end of each financial year, its audited consolidated financial statements for that financial year; (i) to inform the Management Company...
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Appointment and Duties of the Servicer. The Company hereby appoints the Servicer as its servicer under this Agreement to perform the investment management functions of the Company set forth herein, and the Servicer hereby accepts such appointment. For so long as no Market Value Event has occurred and no Event of Default has occurred and is continuing and subject to Section 1.04, the services to be provided by the Servicer shall consist of (x) supervising the Portfolio, including communicating with obligors, executing amendments, providing consents and waivers, enforcing and collecting on the Portfolio and otherwise managing the Portfolio on behalf of the Company, delivering Notices of Acquisition on behalf of and in the name of the Company and (y) acting on behalf of the Company for all other purposes hereof and the transactions contemplated hereby. The Servicer agrees to comply with all covenants and restrictions imposed on the Company herein and in each other Loan Document and not to act in contravention of this Agreement. The Company hereby irrevocably appoints the Servicer its true and lawful agent and attorney-in-fact (with full power of substitution) in its name, place and stead and at its expense, in connection with the performance of its duties provided for herein. Without limiting the foregoing: (
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Appointment and Duties of the Servicer. The Purchaser and the Seller each hereby appoint CFC as the Servicer and CFC accepts such appointment. The Servicer, for the benefit of the Purchaser (to the extent provided herein), shall manage, service, administer, make collections and discharge liens on the Purchased Receivables 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. If the Servicer shall commence a legal proceeding to enforce a Purchased Receivable, the Purchaser shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Purchased Receivables to the
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Related to Appointment and Duties of the Servicer

  • Appointment of the Servicer (a) The servicing, administering and collection of the Pool Receivables shall be conducted by the Person so designated from time to time as the Servicer in accordance with this Section. Until the Administrator gives notice to WESCO (in accordance with this Section 4.1) of the designation of a new Servicer, WESCO is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer pursuant to the terms hereof. Upon the occurrence of a Termination Event, the Administrator may (with the consent of the Majority Purchasers) or shall (at the direction of the Majority Purchasers) designate as Servicer any Person (including itself) to succeed WESCO 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 the terms hereof. (b) Upon the designation of a successor Servicer as set forth in clause (a), WESCO agrees that it will terminate its activities as Servicer hereunder in a manner that the Administrator determines will facilitate the transition of the performance of such activities to the new Servicer, and WESCO shall cooperate with and assist such new Servicer. Such cooperation shall include access to and transfer of related records (including all Contracts) and use by the new Servicer of all licenses, hardware or software necessary or desirable to collect the Pool Receivables and the Related Security. (c) WESCO acknowledges that, in making their decision to execute and deliver this Agreement, the Administrator and each Purchaser Group have relied on WESCO’s agreement to act as Servicer hereunder. Accordingly, WESCO agrees that it will not voluntarily resign as Servicer. (d) The Servicer may delegate its duties and obligations hereunder to any subservicer (each a “Sub-Servicer”); provided, that, in each such delegation: (i) such Sub-Servicer shall agree in writing to perform the duties and obligations of the Servicer pursuant to the terms hereof, (ii) the Servicer shall remain primarily liable for the performance of the duties and obligations so delegated, (iii) the Seller, the Administrator and each Purchaser Group shall have the right to look solely to the Servicer for performance, and (iv) the terms of any agreement with any Sub-Servicer shall provide that the Administrator may terminate such agreement upon the termination of the Servicer hereunder by giving notice of its desire to terminate such agreement to the Servicer (and the Servicer shall provide appropriate notice to each such Sub-Servicer); provided, however, that if any such delegation is to any Person other than an Originator or an Affiliate thereof, the Administrator and the Majority Purchasers shall have consented in writing in advance to such delegation.

  • Duties of the Servicer The Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables shall be carried out in accordance with customary and usual procedures of institutions which service motor vehicle retail installment sale contracts or promissory notes and, to the extent more exacting, the degree of skill and attention that the Servicer exercises from time to time with respect to all comparable motor vehicle receivables that it services for itself or others. In performing such duties, so long as GM Financial is the Servicer, it shall substantially comply with the Servicing Policies and Procedures. The Servicer’s duties shall include, without limitation, collecting and posting all payments, responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending payment invoices to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and furnishing monthly and annual statements to the Trust Collateral Agent and the Trustee with respect to distributions, and performing the other duties specified herein. The Servicer, or if GM Financial is no longer the Servicer, GM Financial, at the request of the Servicer, shall also administer and enforce all rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements (and shall maintain possession of the Dealer Agreements, to the extent it is necessary to do so), the Dealer Assignments and the Insurance Policies, to the extent that such Dealer Agreements, Dealer Assignments and Insurance Policies relate to the Receivables, the Financed Vehicles or the Obligors. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its customary standards, policies, and procedures and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust to execute and deliver, on behalf of the Trust, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and with respect to the Financed Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount under any Receivable or waive the right to collect the unpaid balance of any Receivable from the Obligor, except in accordance with the Servicer’s customary practices. The Servicer is hereby authorized to commence, in its own name or in the name of the Trust, a legal proceeding to enforce a Receivable pursuant to Section 4.3 or to commence or participate in any other legal proceeding (including, without limitation, a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Servicer commences or participates in such a legal proceeding in its own name, the Trust shall thereupon be deemed to have automatically assigned such Receivable to the Servicer solely for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. The Trust Collateral Agent and the Owner Trustee shall furnish the Servicer with any limited powers of attorney and other documents which the Servicer may reasonably request and which the Servicer deems necessary or appropriate and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. As set forth in Section 9.3, in the event the Servicer fails to perform its obligations hereunder, the successor Servicer shall be responsible for the Servicer’s duties in this Agreement as if it were the Servicer, provided that the successor Servicer shall not be liable for the Servicer’s breach of its obligations.

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