Common use of Appointment and General Duties Clause in Contracts

Appointment and General Duties. The Issuer appoints Ford Credit to act as the Servicer of the Receivables for the Issuer and the Indenture Trustee. The Servicer will manage, service, administer and collect 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 or others and in accordance with the Credit and Collection Policy. The Servicer's duties will include: (i) collecting and applying all payments made on the Receivables, (ii) investigating delinquencies, (iii) sending invoices and responding to inquiries of Obligors, (iv) processing requests for extensions and modifications, (v) administering payoffs, defaults and delinquencies, (vi) reporting tax information to Obligors, (vii) repossessing and then selling the Financed Vehicle securing any Receivable that the Servicer determines is unlikely to eventually be paid in full, (viii) maintaining accurate and complete accounts and computer systems pertaining to servicing the Receivables, (ix) providing to the Custodian copies, or access to, any documents, instruments, notices and correspondence that modify information contained in the Receivables Files, and (x) furnishing Monthly Investor Reports and any other periodic reports required by the transaction documents. In performing its duties as servicer of the Receivables, the Servicer will comply with all material requirements of federal and State laws and regulations.

Appointment and General Duties. The Issuer appoints Ford Credit to act as the Servicer of the Receivables for the Issuer and the Indenture Trustee. The Servicer will manage, service, administer and collect 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 or others and in accordance with the Credit and Collection Policy. The Servicer's duties will include: (i) collecting and applying all payments made on the Receivables, (ii) investigating delinquencies, (iii) sending invoices and responding to inquiries of Obligors, (iv) processing requests for extensions and modifications, (v) administering payoffs, defaults and delinquencies, (vi) reporting tax information to Obligors, (vii) repossessing and then selling the Financed Vehicle securing any Receivable that the Servicer determines is unlikely to eventually be paid in full, (viii) maintaining accurate and complete accounts and computer systems pertaining to servicing the Receivables, (ix) providing to the Custodian copies, or access to, any documents, instruments, notices and correspondence that modify information contained in the Receivables Files, and (x) furnishing Monthly Investor Reports and any other periodic reports required by the transaction Canadian documents. In performing its duties as servicer of the Receivables, the Servicer will comply with all material requirements of federal and State laws and regulations.