Common use of Appointment of Backup Servicer Clause in Contracts

Appointment of Backup Servicer. On or before each ------------------------------ Determination Date, the Servicer shall deliver to the Indenture Trustee and the Backup Servicer a computer tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables for the preceding Collection Period necessary for the preparation of the Servicer's Certificate and the verification required under Section 8A.2 relating to such Collection Period (the "Backup Servicer Tape"). The duties of the Backup Servicer set forth in Section 8A.2 (the "Backup Servicer Duties") shall be conducted by the Person so designated from time to time as Backup Servicer in accordance with this Agreement. Norwest is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Backup Servicer pursuant to the terms hereof and each other Basic Document to which the Backup Servicer is a party. Subject to the resignation of Norwest as Backup Servicer pursuant to Section 8A.4 or the termination of Norwest as Backup Servicer pursuant to Section 8A.6 and, in either case, the designation of a successor Backup Servicer hereunder, Norwest shall continue to perform the Backup Servicer Duties, unless and until expressly agreed otherwise by the Issuer, the Servicer, the Indenture Trustee and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Appointment of Backup Servicer. On or before each ------------------------------ Determination Date, the Servicer shall deliver to the Indenture Trustee and the Backup Servicer a computer tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables for the preceding Collection Period necessary for the preparation of the Servicer's Certificate and the verification required under Section 8A.2 relating to such Collection Period (the "Backup Servicer Tape"). The duties of the Backup Servicer set forth in Section 8A.2 (the "Backup Servicer Duties") shall be conducted by the Person so designated from time to time as Backup Servicer in accordance with this Agreement. Norwest ___________ is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Backup Servicer pursuant to the terms hereof and each other Basic Document to which the Backup Servicer is a party. Subject to the resignation of Norwest _____________________________ as Backup Servicer pursuant to Section 8A.4 or the termination of Norwest ___________ as Backup Servicer pursuant to Section 8A.6 and, in either case, the designation of a successor Backup Servicer hereunder, Norwest ___________ shall continue to perform the Backup Servicer Duties, unless and until expressly agreed otherwise by the Issuer, the Servicer, the Indenture Trustee and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ml Asset Backed Corp)

Appointment of Backup Servicer. On or before each ------------------------------ Determination Date, the Servicer shall deliver to the Indenture Trustee and the Backup Servicer a computer tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables for the preceding Collection Period necessary for the preparation of the Servicer's Certificate and the verification required under Section 8A.2 relating to such Collection Period (the "Backup Servicer Tape"). The duties of the Backup Servicer set forth in Section 8A.2 (the "Backup Servicer Duties") shall be conducted by the Person so designated from time to time as Backup Servicer in accordance with this Agreement. Norwest [________] is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Backup Servicer pursuant to the terms hereof and each other Basic Document to which the Backup Servicer is a party. Subject to the resignation of Norwest [________] as Backup Servicer pursuant to Section 8A.4 or the termination of Norwest [________] as Backup Servicer pursuant to Section 8A.6 and, in either case, the designation of a successor Backup Servicer hereunder, Norwest [________] shall continue to perform the Backup Servicer Duties, unless and until expressly agreed otherwise by the Issuer, the Servicer, the Indenture Trustee and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Painewebber Asset Acceptance Corp)

Appointment of Backup Servicer. On or before each ------------------------------ Determination Date, the Servicer shall deliver to the Indenture Trustee and the Backup Servicer a computer tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables for the preceding Collection Period necessary for the preparation of the Servicer's Certificate and the verification required under Section 8A.2 relating to such Collection Period (the "Backup Servicer Tape"). The duties of the Backup Servicer set forth in Section 8A.2 (the "Backup Servicer Duties") shall be conducted by the Person so designated from time to time as Backup Servicer in accordance with this Agreement. Norwest is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Backup Servicer pursuant to the terms hereof and each other Basic Document to which the Backup Servicer is a party. Subject to the resignation of Norwest as Backup Servicer pursuant to Section 8A.4 or the termination of Norwest as Backup Servicer pursuant to Section 8A.6 and, in either case, the designation of a successor Backup Servicer hereunder, Norwest shall continue to perform the Backup Servicer Duties, unless and until expressly agreed otherwise by the Issuer, the Servicer, the Indenture Trustee and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Appointment of Backup Servicer. On or before each ------------------------------ Determination Date, the Servicer shall deliver to the Indenture Trustee and the Backup Servicer a computer tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with 74 81 respect to the Receivables for the preceding Collection Period necessary for the preparation of the Servicer's Certificate and the verification required under Section 8A.2 relating to such Collection Period (the "Backup Servicer Tape"). The duties of the Backup Servicer set forth in Section 8A.2 (the "Backup Servicer Duties") shall be conducted by the Person so designated from time to time as Backup Servicer in accordance with this Agreement. Norwest Wellx Xxxgo is hereby initially designated as, and hereby agrees to perform, the duties and obligations of the Backup Servicer pursuant to the terms hereof and each other Basic Document to which the Backup Servicer is a party. Subject to the resignation of Norwest Wellx Xxxgo as Backup Servicer pursuant to Section 8A.4 or the termination of Norwest Wellx Xxxgo as Backup Servicer pursuant to Section 8A.6 and, in either case, the designation of a successor Backup Servicer hereunder, Norwest Wellx Xxxgo shall continue to perform the Backup Servicer Duties, unless and until expressly agreed otherwise by the Issuer, the Servicer, the Indenture Trustee and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ml Asset Backed Corp)

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