Authority of Servicer. Without further authorization, Xxxxxx expressly authorizes SERVICER to take any actions set forth in this Agreement including, but not by way of limitation, those necessary to engage in loss mitigation, forbearance agreements, loan modifications, to initiate, conduct and conclude a non-judicial or judicial foreclosure or to exercise, on behalf of Xxxxxx, any remedies Lender may have. Xxxxxx understands that SERVICER does not have a propriety modification or forbearance plan available to offer borrowers. Lender represents that the Loan does not currently fall under any mandated government programs for payment assistance should the borrower default. Unless the Lender provides SERVICER with a written copy of Xxxxxx’s proprietary loan modification or forbearance plan, Lender represents to SERVICER that Lender has no such plans. SERVICER is not authorized to enter into any forbearance plan or loan modification without the written consent of Lender (or of a Majority in a Multi-Lender Loan) unless mandated by statute or regulation. Lender authorization shall be on a loan-by-loan basis and shall be considered a “non-routine” matter. Upon Lender’s (or the Majority in a Multi-Lender Loan) consent, SERVICER may enter, on Xxxxxx’s behalf, a loan modification or forbearance plan. Should Lender not respond to request to continue a forbearance plan, SERVICER, at SERVICER’S direction, may continue with existing plan in place. Xxxxxx authorizes SERVICER to employ outside services (“Contractors”) reasonably necessary in the SERVICER sole discretion to protect Xxxxxx’s interest in the Loan. These Contractors may include, but are not limited to, appraisers, attorneys, accountants, foreclosure agents/trustees, and services provided by SERVICER or by affiliated firms that are not within the scope of this Agreement (e.g., foreclosure agent or trustee when a foreclosure must be commenced). Whether Contractor’s fees and costs have been incurred or whether they are yet to be incurred, upon SERVICER’S demand, Xxxxxx shall pay said Contractor fees and costs as directed by SERVICER. SERVICER may produce a copy of this Agreement as evidence of its authority. Should property be located in a city or county in which an ordinance exists where registration fees, inspection fees, etc. exist, Lender understands that Lender is responsible for payment of said fees, either directly by request of SERVICER or reimbursement to SERVICER. Reimbursement to SERVICER falls under # 8 below.
Authority of Servicer. (a) In performing its Loan Servicing obligations under this Agreement, Servicer shall (subject to the terms of this Agreement) have full power and authority, acting alone or through others, to take any and all actions in connection with such Loan Servicing that it deems necessary or appropriate. Without limiting the generality of the foregoing, Servicer is hereby authorized and empowered by Owner when Servicer deems it appropriate in its best judgment, to execute, deliver, record or file, as applicable, on behalf of Owner (i) any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien of each Mortgage on the related Mortgaged Property and any other related collateral, (ii) any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien of each Pledge on the related Pledged Interests and any other related collateral, and (iii) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments with respect to each of the Serviced Loans. Servicer shall notify Owner in writing in the event that Servicer intends to execute and deliver any such instrument referred to in clause (ii) above and, except in connection with any payment in full of any Serviced Loan, shall proceed with such course of action only upon receipt of Owner’s written approval thereof. Servicer may engage attorneys, accountants and other experts in the normal course of its servicing and administration of the Serviced Loans.
Authority of Servicer. 7.3 Consistent with the overall business objectives of the Customer and Lessor with respect to the Aircraft and with the delegation to the Servicer by the Customer and Lessor of a practicable and workable level of autonomy, responsibility and authority regarding the performance of the Services, the Servicer shall have full autonomy and authority with respect to the Aircraft to carry out the Services in accordance with this Servicing Agreement, subject to the limitation that the Servicer shall not do any of the following without the express written consent of the Customer and subject always to the terms of the Aircraft Related Documents (to the extent that the Aircraft Related Documents have been provided to the Servicer):
Authority of Servicer. Each Loan Party acknowledges that the rights and responsibilities of the Servicer under this Agreement with respect to any action taken by the Servicer or the exercise or non-exercise by the Servicer of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall be governed by the Amended and Restated Note and Warrant Purchase Agreement and by the other Transaction Documents and the Servicer shall be conclusively presumed to be acting as Servicer with full and valid authority so to act or retrain from acting, and such Loan Party shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Authority of Servicer. For the avoidance of doubt and in connection with the rights, powers and discretions conferred under Section 2.1 (Appointment of Servicer), during the continuance of its appointment hereunder, the Servicer will, subject to the terms and conditions of this Agreement, the Mortgage Terms and terms of the Related Security and the other Transaction Documents, have the full power, authority and right to do or cause to be done any and all things, not inconsistent with the sale, transfer and assignment of the Loans and their Related Security to the Guarantor, which it reasonably considers necessary, convenient or incidental to the servicing of the Loans and their Related Security or the exercise of such rights, powers and discretions.
