Appointment of Servicers. The Manager (in its individual capacity) has entered into one or more Servicing Agreements dated the date hereof to provide for the servicing and administration and management of the Loans and Underlying Collateral by one or more Qualified Servicers named therein (each, together with other Qualified Servicers, a “Servicer”). Each Servicer, at all times during which it acts as Servicer, shall continue to satisfy the definition of Qualified Servicer. Subject, with respect to the Interim Servicing Period, to the provisions of Section 3.3 of the Contribution Agreement, (x) each Loan shall at all times be serviced (and any Underlying Collateral managed) by or through at least one Servicer (including any subservicers engaged by the Servicer (“Subservicers”) as permitted hereunder), it being understood that the relevant servicing functions not delegated to the Servicer by the Manager pursuant to the Servicing Agreement shall be duly performed by the Manager (including through its applicable Affiliates pursuant to Section 3.3 hereof) in accordance with the Servicing Standard and the provisions herein and in the Ancillary Documents, and (y) the performance of all day-to-day Servicing Obligations of the Manager shall be conducted by or through one or more Servicers (including any Subservicers permitted hereunder). Subject to the other terms and conditions of this Agreement, any Servicer may be an Affiliate of the Private Owner or of the Manager. Each Servicer may engage or retain one or more Subservicers, including Affiliates of the Private Owner or of the Manager, to perform certain of its duties under the Servicing Agreement, as it may deem necessary and appropriate, by entering into a subservicing agreement with each such Subservicer (“Subservicing Agreement”), provided that any Subservicer meets (and at all times continues to meet) the requirements set forth in the definition of Qualified Servicer and the terms of the applicable Subservicing Agreement comply with the terms of this Agreement and the applicable Servicing Agreement. The costs and fees of the Servicers (and any Subservicers) shall be borne exclusively by the Manager in its individual capacity without any right of reimbursement from the Company or the Initial Member (it being understood that the Manager will receive the Interim Management Fee and Management Fee in accordance with Section 12.5 hereof). Under no circumstances shall the Manager transfer, or permit to be transferred, to any Servicer or a...
Appointment of Servicers. (1) The servicing, administering and collection of the Pool Receivables shall be conducted by the Persons so designated from time to time as Servicer in accordance with this Section 4.1. Until the Agent gives notice to the Sellers and the Servicers (in accordance with this Section 4.1) of the designation of a new Servicer:
(i) Manitowoc is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by a U.S. Originator;
(ii) Garland is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by Garland;
(iii) Convotherm is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by Convotherm;
(iv) Manitowoc Deutschland is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by Manitowoc Deutschland; and
(v) Foodservice UK is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by Foodservice UK; and
(vi) Foodservice Asia is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer with respect to all Pool Receivables that were originated by Foodservice Asia;
Appointment of Servicers. The Purchaser hereby appoints each Seller as its servicer and agent (in such capacity, a “Servicer”) for the administration and servicing of all Purchased Receivables, and each Seller hereby accepts such appointment and agrees to assume the duties and administration and servicing obligations as Servicer, and perform all necessary and appropriate commercial collection activities in arranging the timely payment of amounts due and owing by any Account Debtor all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, including diligently and faithfully performing all servicing and collection actions (including, if necessary, acting as party of record in foreign jurisdictions); provided, however, that such appointment as Servicer shall not release any Seller from any of its duties, responsibilities, liabilities and obligations resulting from or arising under the Transaction Documents. In connection with its servicing obligations, each Servicer will, and will ensure that it and each Seller will, perform its respective obligations and exercise its respective rights under the Contracts related to the Purchased Receivables with the same care and applying the same policies as it applies to its own Receivables generally and would exercise and apply if it owned the Purchased Receivables (the “Applicable Standard”). Each Seller shall perform the obligations of Servicer with respect to the Purchased Receivables in return for a fee (in each case, a “Servicing Fee”) equal to 0.20% from and out of the Purchase Price for each Purchased Receivable. The Servicer Fee shall expressly be provided for the benefit of any Servicer on account of such Servicer’s services required hereunder and shall be paid or allocated to or for the account of the Servicer on each Purchase Date out of (but not in addition to) the Purchase Price for each Purchased Receivable. For avoidance of doubt the Servicing Fee shall be represented as a portion of the Purchase Price paid for each Purchased Receivable (rather than an additional amount) and shall not be paid in the form of a separate wire or payment, but rather the applicable Seller shall allocate and account for the portion of the Purchase Price for each Purchased Receivable on its books and records that represents the Servicing Fee portion thereof on each applicable Purchase Date.
Appointment of Servicers. In connection with the sale and purchase of Receivables under Clause 2 (other than the German Receivables), the Master Purchaser and the Collateral Monitoring Agent each hereby appoints the Master Servicer as its lawful agent on its behalf to:
Appointment of Servicers. Lender shall have the right from time to time to retain one or more servicers to handle administrative matters in connection with this Agreement and the other Loan Documents, such as notifying Borrower of the amount of interest due in advance of any Interest Payment Date and reviewing financial reports and any information related thereto; provided that Lender shall not delegate its authority to grant or deny any request for a consent or waiver made pursuant to this Agreement.
Appointment of Servicers. On the date hereof, the Trust is ------------------------ entering into an Origination and Servicing Agreement with Navistar Financial (the "GI Servicer") with respect to the General Interest. The Trust shall enter from time to time into one or more other Servicing Agreements or Portfolio Servicing Agreement Supplements with Navistar Financial or with such other or additional Persons as the Requisite Holders of any Trust Interest shall designate in writing with respect to the applicable Trust Interest. Each Servicing Agreement shall specify various duties, powers, liabilities, obligations and compensation of the Servicer with respect to the administration and servicing of those Trust Assets as to which such Servicing Agreement applies, including Leased Vehicles and Leases. The Trust shall enforce all rights and remedies available to the Trust pursuant to each Servicing Agreement, on behalf of and for the benefit of the Holder of the applicable Trust Interest, and all damages recovered by the Trust as a result of any breach of any Servicing Agreement by a Servicer promptly shall be deposited into the applicable General Trust Account or Portfolio Account.
Appointment of Servicers. The Borrower, for the benefit of the Agent and the Lenders, shall appoint one or more Servicers approved by the Agent and the Lenders to manage, service, administer and make collections on the Pledged Student Loans pursuant to agreements that are satisfactory in form and substance to the Agent. For purposes of this Section 12.01, the Servicers listed on Exhibit 12.01 shall be deemed approved by the Agent and the Lenders. The fees and expenses of each Servicer (and any such sub-contractors) shall be as agreed between the Borrower and the applicable Servicer or a sub-contractor from time to time and none of the Lenders or the Agent shall have any responsibility therefor.
Appointment of Servicers
