Common use of Appointment of Successor Servicer Clause in Contracts

Appointment of Successor Servicer. If the Initial Member exercises its right to act on behalf of the Manager (in its individual capacity) to appoint a successor Servicer, the costs and expenses associated with such successor Servicer (including any Servicing fees) will be borne by the Manager (in its individual capacity) (and not the Company or the Initial Member), and no termination or other fee will be due to the Manager (in any capacity) or the Servicer or any Subservicer or JDC Contractor in connection with or as a result of any such action; provided, however, that, if the Initial Member has also exercised its right to remove the Manager (such that such removed Manager no longer has rights to the Management Fee), then, with respect to Servicing fees of such successor Servicer (but not costs and expenses in connection with the replacement of the Servicer with such successor Servicer) such removed Manager will be responsible (in any capacity) only for the portion of such fees that, as of any particular Distribution Date, are in excess of the Management Fee payable to the successor Manager on such Distribution Date.

Appointment of Successor Servicer. If the Initial Member exercises its right to act on behalf of the Manager (in its individual capacity) to appoint a successor Servicer, the costs and expenses associated with such successor Servicer (including any Servicing fees) will be borne by the Manager (in its individual capacity) (and not the Company Company, the PMN Agent or the Initial Member), and no termination or other fee will be due to the Manager (in any capacity) or the Servicer or any Subservicer or JDC Contractor in connection with or as a result of any such action; provided, however, that, if the Initial Member or the PMN Agent has also exercised its right to remove the Manager (such that such removed Manager no longer has rights to the Management Fee), then, with respect to Servicing fees of such successor Servicer (but not costs and expenses in connection with the replacement of the Servicer with such successor Servicer) such removed Manager will be responsible (in any capacity) only for the portion of such fees that, as of any particular Distribution Date, are in excess of the Management Fee payable to the successor Manager on such Distribution Date.Date.‌‌‌

Appointment of Successor Servicer. If the Initial Member exercises its right to act on behalf of the Manager (in its individual capacity) to appoint a successor Servicer, the costs and expenses associated with such successor Servicer (including any Servicing fees) will be borne by the Manager (in its individual capacity) (and not the Company Company, the PMN Agent or the Initial Member), and no termination or other fee will be due to the Manager (in any capacity) or the Servicer or any Subservicer or JDC Contractor in connection with or as a result of any such action; provided, however, that, if the Initial Member or the PMN Agent has also exercised its right to remove the Manager (such that such removed Manager no longer has rights to the Management Fee), then, with respect to Servicing fees of such successor Servicer (but not costs and expenses in connection with the replacement of the Servicer with such successor Servicer) such removed Manager will be responsible (in any capacity) only for the portion of such fees that, as of any particular Distribution Date, are in excess of the Management Fee payable to the successor Manager on such Distribution Date.