Common use of Appointment of Subservicer or Subcontractor Clause in Contracts

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders and the Noteholders for the servicing and administering of the Receivables in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders or the Noteholders shall have any responsibility therefor.

Appears in 36 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2024-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2024-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2024-1 Owner Trust)

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee[, the Delaware Trustee], the Indenture Trustee, the Certificateholders and the Noteholders for the servicing and administering of the Receivables in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer, the Owner Trustee], the Delaware Trustee], the Indenture Trustee, [the Swap Counterparty,] the Certificateholders or the Noteholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (American Honda Receivables LLC), Sale and Servicing Agreement (American Honda Receivables LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Rating Agency Condition shall have been satisfied in connection therewith; provided further that the Servicer shall remain obligated and be liable to the IssuerIssuing Entity, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders and the Noteholders for the servicing and administering of the Receivables in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, time and none of the IssuerIssuing Entity, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders or the Noteholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Sale and Servicing (Ace Securities Corp), Sale and Servicing (Ace Securities Corp)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided, provided however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Trustee and the Noteholders Securityholders for the servicing and administering of the Receivables 20[__]-[__] Leases and 20[__]-[__] Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables20[__]-[__] Leases and 20[__]-[__] Vehicles. The fees and expenses of the any subservicer shall be as agreed between the Servicer and its such subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Issuer or the Noteholders Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Basic Servicing Agreement (Financial Services Vehicle Trust)

Appointment of Subservicer or Subcontractor. (a) The Servicer Administrative Agent may at any time appoint a subservicer Subservicer to perform all or any portion of its obligations as Servicer Administrative Agent hereunder; provided, provided however, that the Servicer Administrative Agent shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Trustee and the Noteholders Securityholders for the servicing and administering of the Receivables [___]-[_] Leases and [___]-[_] Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer Subservicer and to the same extent and under the same terms and conditions as if the Servicer Administrative Agent alone were servicing and administering the Receivables[___]-[_] Leases and [___]-[_] Vehicles. The fees and expenses of the subservicer any Subservicer shall be as agreed between the Servicer Administrative Agent and its subservicer such Subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Issuer or the Noteholders Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Ryder Truck Rental Lt

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, provided however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Trustee and the Noteholders Securityholders for the servicing and administering of the Receivables 20[__]-[__] Leases and 20[__]-[__] Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables20[__]-[__] Leases and 20[__]-[__] Vehicles. The fees and expenses of the any subservicer shall be as agreed between the Servicer and its such subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Issuer or the Noteholders Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Financial Services (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, provided however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Trustee and the Noteholders Securityholders for the servicing and administering of the Receivables [___]-[_] Leases and [____]-[_] Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables[___]-[_] Leases and [____]-[_] Vehicles. The fees and expenses of the any subservicer shall be as agreed between the Servicer and its such subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Issuer or the Noteholders Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Servicing Agreement (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, provided however, that the Servicer shall remain obligated and be liable to the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Trustee and the Noteholders Securityholders for the servicing and administering of the Receivables [____]-[_] Leases and [____]-[_] Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables[____]-[_] Leases and [____]-[_] Vehicles. The fees and expenses of the any subservicer shall be as agreed between the Servicer and its such subservicer from time to time, and none of the Issuer, the Owner Trustee, the Delaware Trustee, the Indenture Trustee, the Certificateholders Issuer or the Noteholders Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Servicing Agreement (BMW Auto Leasing LLC)

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