Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to enforce Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (i) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (ii) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 2 contracts
Samples: Receivables Sale and Servicing Agreement, Receivables Sale and Servicing Agreement (Rexnord LLC)
Appointment of the Servicer. Buyer Each of the Lenders hereby appoints the Servicer as its agent agent, and the Borrower hereby acknowledges and agrees to such appointment, to service the Transferred Receivables andand enforce the Borrower's, in accordance with the Related Documents, to enforce Buyer’s Lenders' and the Administrative Agent's rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerRequisite Lenders and the Administrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lenders and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s 's responsibilities hereunder in accordance with the terms hereof.
Appears in 2 contracts
Samples: Receivables Funding Agreement (Superior Telecom Inc), Receivables Funding Agreement (Alpine Group Inc /De/)
Appointment of the Servicer. Buyer The Purchaser hereby appoints --------------------------- the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and each related Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the The Servicer hereby accepts such appointment and agrees to perform the duties and obligations with respect thereto set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerPurchaser, the Operating Agent, and the Collateral Agent subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; , provided, that (ia) -------- the Servicer shall remain liable for the performance of the duties and obligations of such the Sub-Servicer pursuant to the terms hereof, and (iib) any Sub-Sub- Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alonealone and the Purchaser, Operating Agent and Buyer the Collateral Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 2 contracts
Samples: Receivables Purchase and Servicing Agreement (New Pameco Georgia Corp), Receivables Purchase and Servicing Agreement (Merisel Inc /De/)
Appointment of the Servicer. Buyer The Borrower hereby --------------------------- appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its respective rights and interests in and under each Transferred Receivable and each related Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 7.10, 9.02 or 9.0111.01. In connection therewith, the The Servicer hereby accepts such appointment and agrees to perform the duties and obligations with respect thereto set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerBorrower, the Lender, the Deal Agent, and the Collateral Agent subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; , provided, that (ia) the Servicer shall remain liable for the -------- performance of the duties and obligations of such the Sub-Servicer pursuant to the terms hereof, and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alonealone and the Borrower, the Lender, Deal Agent and Buyer the Collateral Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Funding and Servicing Agreement (Consumer Portfolio Services Inc)
Appointment of the Servicer. Buyer The Issuer hereby appoints the Servicer as its agent to service [and manage] the Transferred Receivables and, in accordance with the Related Documents, to [Loans] [Purchaser Assets other than Purchaser SUBI Assets] and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor the [Loans] [[such] Purchaser Assets] and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 5.1 or 9.016.1. In connection therewiththerewith [and with the Servicer’s appointment as the Servicer with respect to the Series 201[●]-[●] SUBI pursuant to Section 1.3], the Servicer hereby accepts such appointment appointmen[s] and agrees to perform the duties and obligations set forth hereinin this Agreement [and, in the case of the Series 201[●]-[●] SUBI, in the Titling Trust Servicing Agreement]. The Servicer may, (a) upon giving prior written notice to the Issuer, delegate any duties to any Person, or subcontract with Xxxx Industriesa Sub-Servicer, LLC for the collection, [management,] servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred ReceivablesPurchaser Assets; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such any delegate or the Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables [Loans] [Purchaser Assets] involving a Sub-Servicer shall be deemed to be between the any Sub-Servicer and the Servicer alone, and Buyer the Issuer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the such Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer The Borrower hereby appoints the Servicer as its agent agent, and the Lenders hereby acknowledge such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 Article VI or 9.01Section 7.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerBorrower, each Lender and the Administrative Agent (other than Sub- Servicers retained solely to collect Defaulted Receivables, which shall require no such prior consent) not to be unreasonably withheld, subcontract with a one or more Sub-Servicer Servicers for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Sub- Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Sub- Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lenders and the Administrative Agent shall not be deemed a party parties thereto and shall or have no any obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Servicing Agreement (Consolidated Freightways Corp)
Appointment of the Servicer. Buyer Each of the Seller and the Purchaser hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. If and for so long as Cone Mills is the Servicer, Cone Mills may delegate its duties as Xxxxxcer in respect of any Traxxxxxred Receivables to the Originator of such Transferred Receivables and, to the extent of such delegation, all references to the Servicer in any Related Document shall be deemed to include such Originator in such capacity, but Cone Mills shall remain liable for the performance by such Originator of xxxx delegated duties. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerPurchaser, the Operating Agent and the Collateral Agent, subcontract with a Sub-Servicer (other than another Originator as provided above) for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such the Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchaser, the Operating Agent and the Collateral Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.. SECTION 7.02
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Cone Mills Corp)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to enforce Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections Section 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (i) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (ii) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Rexnord Corp)
Appointment of the Servicer. Buyer Each of the Conduit Purchaser and the Committed Purchaser hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Bergen Brunswig Corp)
Appointment of the Servicer. Buyer Each of the Lenders hereby appoints the Servicer as its agent agent, and the Borrower hereby acknowledges and agrees to such appointment, to service the Transferred Receivables andand enforce the Borrower’s, in accordance with the Related Documents, to enforce BuyerLenders’ and the Administrative Agent’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerRequisite Lenders and the Administrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lenders and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer The Lender hereby appoints the Servicer as its agent agent, and the Borrower hereby acknowledges and agrees to such appointment, to service the Transferred Receivables and, in accordance with and enforce the Related Documents, to enforce Buyer’s Borrower's and the Lender's rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerLender, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred ReceivablesReceivables and other Receivable Assets; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lender shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s 's responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer Each of the Purchasers hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser and the BuyerAgent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, provided that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing WNC Receivables, LLC Receivables Purchase and Servicing Agreement Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers and the Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer Each of the Conduit Purchaser and the Committed Purchaser hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and the Seller Collateral and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 SECTIONS 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; providedPROVIDED, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer Servicer. Subject to compliance with the proviso set forth in the immediately preceding sentence, each of the Purchasers and (iii) the Administrative Agent hereby consent to each Originator acting as a sub-servicer with respect to the Transferred Receivables originated by such Person. Any Sub-Servicing Agreement shall expressly provide that it shall automatically terminate will be terminated upon the any termination or replacement of the Servicer’s responsibilities hereunder in accordance with the terms hereofServicer pursuant to SECTIONS 9.02 or 11.01.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Daisy Parts Inc)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to enforce Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Vertis Inc)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to enforce Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.. Receivables Sale and Servicing Agreement
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Synnex Corp)
Appointment of the Servicer. Buyer Each of the Conduit Purchasers and the Committed Purchasers hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and the rights and interests under the Contract therefor as such rights and interests relate to such Transferred Receivable and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerRequisite Purchasers and the Administrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers, the Purchaser Agents and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Amerisourcebergen Corp)
Appointment of the Servicer. Buyer Each of the Conduit Purchaser and the Committedeach Purchaser Agent hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser Agent and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such the Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers, the Purchaser Agents and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer Each of the Lenders hereby --------------------------- appoints the Servicer as its agent agent, and the Borrower hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts ------------- ----- such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Lender and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) -------- the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Sub- Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lenders and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Funding Agreement (Imperial Sugar Co /New/)
Appointment of the Servicer. Buyer Each of the Conduit Lender and the Committed Lender hereby appoints the Servicer as its agent agent, and the Borrower hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Lender and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Lenders and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer Each of the Conduit Purchaser and the Committed Purchaser hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with and enforce its (and the Related Documents, to enforce Buyer’s Originator's) rights and interests in and under each Transferred Receivable and Contract therefor and to the Seller Collateral and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Purchase Agreement (Avondale Inc)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables on behalf of the Buyer and the Purchasers and, in accordance with the Related Documents, to enforce Buyer’s and the Purchasers’ rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided that no such consent shall be needed for the Servicer to subcontract with a Sub-Servicer that is also an Originator; and further provided, that (i) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (ii) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and none of the Buyer or any Specified Party shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and Servicer, (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereofhereof and (iv) each Originator acting as a Sub-Servicer hereby acknowledges that its rights as a Sub-Servicer shall terminate automatically, upon the termination of the Servicer’s responsibilities hereunder.
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Georgia Gulf Corp /De/)
Appointment of the Servicer. The Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related DocumentsDocuments and the Credit and Collection Policies, to enforce the Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and the Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iiic) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Ryerson Inc.)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables and, in accordance with the Related Documents, to enforce Buyer’s rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (i) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (ii) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Sale and Servicing Agreement (Cumulus Media Inc)
Appointment of the Servicer. Buyer hereby appoints the Servicer as its agent to service the Transferred Receivables on behalf of the Buyer and the Purchasers and, in accordance with the Related Documents, to enforce Buyer’s and the Purchasers’ rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 or 9.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the Amended and Restated Receivables Transfer and Servicing Agreement duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerPurchaser Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided that no such consent shall be needed to subcontract with a Sub-Servicer that is an Affiliate of the Servicer; and further provided, that (i) the Servicer shall remain liable for the performance of the duties and obligations of such Sub-Servicer pursuant to the terms hereof, (ii) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer none of the Buyer, any Purchaser or any other Specified Party shall not be deemed a party thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Transfer and Servicing Agreement (Univision Holdings, Inc.)
Appointment of the Servicer. Buyer Each of the Conduit Purchaser and the Committed Purchaser hereby appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of each Purchaser and the BuyerAdministrative Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the duties and obligations of such the Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchasers and the Administrative Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Purchase Agreement (Synnex Information Technologies Inc)
Appointment of the Servicer. Buyer The Issuer hereby appoints the Servicer as its agent to service [and manage] the Transferred [Loans] [Receivables and, in accordance with the Related Documents, to Assets] and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor the [Loans] [Receivables Assets] and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 5.1 or 9.016.1. In connection therewith, the Servicer hereby accepts such appointment and agrees to perform the duties and obligations set forth hereinin this Agreement. The parties hereto acknowledge that the Servicer has entered into the Consolidated Subservicing Agreement with GE Capital, and agree that all the [Loans] [Receivables Assets] shall initially be subserviced [and managed] by GE Capital pursuant to the terms thereof. In addition to the foregoing, the Servicer may, (a) upon giving prior written notice to the Issuer, delegate any of its duties under this Agreement to any Person, or subcontract with Xxxx Industriesany other Sub-Servicer, LLC in addition to or in lieu of GE Capital, for the collection, [management,] servicing or administration of the Transferred [Loans] [Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the Buyer, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred ReceivablesAssets]; provided, that with respect to the Consolidated Subservicing Agreement and each other Sub-Servicing Agreement (ia) the Servicer shall remain liable for the performance of the duties and obligations of such any delegate or the Sub-Servicer pursuant to the terms hereof, hereof and (iib) the Consolidated Subservicing Agreement and any other Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred [Loans] [Receivables Assets] involving a Sub-Servicer shall be deemed to be between the applicable Sub-Servicer and the Servicer alone, and Buyer the Issuer shall not be deemed a Servicing Agreement party thereto and shall have no obligations, duties or liabilities with respect to the any such Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Appointment of the Servicer. Buyer The Purchaser hereby --------------------------- appoints the Servicer as its agent agent, and the Seller hereby acknowledges such appointment, to service the Transferred Receivables and, in accordance with the Related Documents, to and enforce Buyer’s its rights and interests in and under each Transferred Receivable and Contract therefor and to serve in such capacity until the termination of its responsibilities pursuant to Sections 8.01 9.02 or 9.0111.01. In connection therewith, the Servicer hereby accepts ------------- ----- such appointment and agrees to perform the duties and obligations set forth herein. The Servicer may, (a) subcontract with Xxxx Industries, LLC for the collection, servicing or administration of the Transferred Receivables originated by Xxxx Industries, LLC and/or Xxxx PEX, Inc. and (b) with the prior written consent of the BuyerPurchaser, the Operating Agent and the Collateral Agent, subcontract with a Sub-Servicer for the collection, servicing or administration of the Transferred Receivables; provided, that (ia) the Servicer shall remain liable for the performance of the -------- duties and obligations of such the Sub-Servicer pursuant to the terms hereof, hereof and (iib) any Sub-Servicing Agreement that may be entered into and any other transactions or services relating to the Transferred Receivables involving a Sub-Servicer shall be deemed to be between the Sub-Servicer and the Servicer alone, and Buyer the Purchaser, the Operating Agent and the Collateral Agent shall not be deemed a party parties thereto and shall have no obligations, duties or liabilities with respect to the Sub-Servicer and (iii) each Sub-Servicing Agreement shall expressly provide that it shall automatically terminate upon the termination of the Servicer’s responsibilities hereunder in accordance with the terms hereof.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Callaway Golf Co /Ca)