Assignment by the Servicer Clause Samples
The "Assignment by the Servicer" clause defines the conditions under which the servicer may transfer its rights or obligations under the agreement to another party. Typically, this clause outlines whether the servicer needs prior written consent from the other contracting party or must meet specific requirements before making such an assignment. For example, it may restrict assignments to only affiliates or require that the assignee has sufficient experience and financial standing. The core function of this clause is to control and manage the transfer of servicing responsibilities, ensuring that the interests of all parties are protected and that the quality of service is maintained.
Assignment by the Servicer. This Agreement and all the rights and obligations of the Servicer hereunder may not be assigned or subcontracted by the Servicer without the prior written consent of FMC which consent shall not be unreasonably withheld; provided however, the Servicer may subcontract for skiptracing purposes without such consent. FMC's consent to subcontract shall not release the Servicer from its obligations under this Agreement.
Assignment by the Servicer. This Agreement and all the rights and obligations of the Servicer hereunder may not without the prior written consent of FMC, which consent shall not be unreasonably withheld, be assigned or subcontracted by the Servicer. Any successor must acquire substantially all of the assets or business of the Servicer, have the ability to perform the Services under the terms and conditions hereof, and be approved by the Insurer and reasonably acceptable to any Trustee.
Assignment by the Servicer. The Servicer may from time to time assign the Secured Obligations to a successor Servicer appointed in accordance with the Loan Facility Agreement, and such successor shall be entitled to all of the rights and remedies of the Servicer under this Agreement in relation thereto.
Assignment by the Servicer. This Agreement and all the rights and obligations of the Servicer hereunder may not be assigned or subcontracted by the Servicer without the prior written consent of the Owner which consent shall not be unreasonably withheld; provided, however, the Servicer may subcontract for collections and skiptracing purposes without such consent. The Owner’s consent to subcontract shall not release the Servicer from its obligations under this Agreement.
Assignment by the Servicer. The Servicer agrees that because of the nature of the services to be performed, it shall not have the right to assign its interests under this Agreement, except upon written authorization by the Owner. In the event that the Owner authorizes a subcontract for the servicing of any Mortgage Loan, the Servicer shall not be relieved of any of its obligations under this Agreement with respect to the servicing of such Mortgage Loan.
Assignment by the Servicer. Notwithstanding anything to the contrary contained herein, except as provided in the remainder of this Section, as provided in Section 5.03 herein and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Servicer.