Common use of Assignment by Originator, Seller or Servicer Clause in Contracts

Assignment by Originator, Seller or Servicer. None of the respective rights or obligations of the Originator, the Seller or the Servicer hereunder may be assigned (other than the assignment by the Seller to the Issuer of the covenants, representations, warranties and obligations of the Originator pursuant to Section 12.01 and the assignment by the Issuer to the Trustee of the rights of the Issuer hereunder pursuant to the Indenture as contemplated in Section 12.01) without the prior written consent of the Issuer and the Trustee (acting upon the written instructions of the Insurer (if no Insurer Default has occurred and is continuing) or the holders of 66-2/3% of the then aggregate unpaid Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing); provided, that nothing herein shall preclude the Servicer from performing its duties hereunder through the use of agents to the extent that such use is consistent with the Servicer's business practices in dealing with leases and equipment for its own account.

Appears in 4 contracts

Samples: Assignment and Servicing Agreement (Ikon Receivables Funding LLC), Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables Funding LLC)

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Assignment by Originator, Seller or Servicer. None of the respective rights or obligations of the Originator, the Seller or the Servicer hereunder may be assigned (other than the assignment by the Seller to the Issuer of the covenants, representations, warranties and obligations of the Originator pursuant to Section 12.01 and the assignment by the Issuer to the Trustee of the rights of the Issuer hereunder pursuant to the Indenture as contemplated in Section 12.01) without the prior written consent of the Issuer and the Trustee (acting upon the written instructions of the Insurer (if no Insurer Default has occurred and is continuing) or the holders of 66-2/3% of the then aggregate unpaid Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing); provided, that nothing herein -------- shall preclude the Servicer from performing its duties hereunder through the use of agents to the extent that such use is consistent with the Servicer's business practices in dealing with leases and equipment for its own account.

Appears in 4 contracts

Samples: Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC)

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Assignment by Originator, Seller or Servicer. None of the respective rights or obligations of the Originator, the Seller or the Servicer hereunder may be assigned (other than the assignment by the Seller to the Issuer of the covenants, representations, warranties and obligations of the Originator pursuant to Section 12.01 and the assignment by the Issuer to the Trustee of the rights of the Issuer hereunder pursuant to the Indenture as contemplated in Section 12.01) without the prior written consent of the Issuer and the Trustee (acting upon the written instructions of [the Insurer (if no Insurer Default has occurred and is continuing) or or] the holders of 66-66- 2/3% of the then aggregate unpaid Outstanding Principal Amount of the Notes [(if an Insurer Default has occurred and is continuing)]; provided, that nothing -------- herein shall preclude the Servicer from performing its duties hereunder through the use of agents to the extent that such use is consistent with the Servicer's business practices in dealing with leases and equipment for its own account.

Appears in 1 contract

Samples: Assignment and Servicing Agreement (Ikon Receivables Funding LLC)

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