Common use of APPOINTMENT OF SUB-ADMINISTRATOR Clause in Contracts

APPOINTMENT OF SUB-ADMINISTRATOR. The Administrator may at any time appoint a sub-administrator to perform all or any portion of its obligations as Administrator hereunder; provided, however, that any applicable Rating Agency Condition shall have been satisfied in connection therewith; provided, further, that the Administrator shall remain obligated and be liable to the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee and the Noteholders for administering the Issuer in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such sub-administrator and to the same extent and under the same terms and conditions as if the Administrator alone were administering the Issuer. The fees and expenses of the sub-administrator shall be as agreed between the Administrator and its sub-administrator from time to time and none of the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee or the Noteholders shall have any responsibility therefor. With respect to satisfying the Rating Agency Condition referred to above, the term “sub-administrator” shall be deemed not to include systems providers, systems developers or systems maintenance contractors, collection agencies, credit bureaus, lock box providers, mail service providers and other similar types of service providers.

APPOINTMENT OF SUB-ADMINISTRATOR. The Administrator may at any time appoint a sub-administrator to perform all or any portion of its obligations as Administrator hereunder; provided, however, that any applicable Rating Agency Notice Condition shall have been satisfied in connection therewith; provided, further, that the Administrator shall remain obligated and be liable to the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee and the Noteholders for administering the Issuer in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such sub-administrator and to the same extent and under the same terms and conditions as if the Administrator alone were administering the Issuer. The fees and expenses of the sub-administrator shall be as agreed between the Administrator and its sub-administrator from time to time and none of the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee or the Noteholders shall have any responsibility therefor. With respect to satisfying the Rating Agency Notice Condition referred to above, the term “sub-administrator” shall be deemed not to include systems providers, systems developers or systems maintenance contractors, collection agencies, credit bureaus, lock box providers, mail service providers and other similar types of service providers.