Back-up Servicing Agreement. (a) The Servicer shall comply with its obligations under the Back-up Servicing Agreement and the other Transaction Documents to which it is a party (in its capacity as Servicer).
(b) Each Subservicer hereby agrees that it shall cooperate with the Servicer in the performance of the Servicer’s duties under the Back-up Servicing Agreement, during any Servicing Centralization Period and any Servicing Transition Period.
Back-up Servicing Agreement. The execution and delivery of this Limited Power of Attorney by OneMain Financial shall not be (or be deemed) a waiver or discharge of any representation, warranty, covenant or agreement of OneMain Financial in or under the Back-up Servicing Agreement or the Sale and Servicing Agreement, and such execution and delivery shall not be (or be deemed) a modification or amendment of any provision of the Back-up Servicing Agreement or the Sale and Servicing Agreement in any respect.
Back-up Servicing Agreement. Within forty-five (45) days following a Mandatory Back-up Servicer Event, the Borrower shall select a Back-up Servicer that is acceptable Program Agent and within ninety (90) days following a Mandatory Back-up Servicer Event, the Borrower shall enter into a Back-up Servicing Agreement, in form and substance acceptable to the Program Agent.
Back-up Servicing Agreement. Not later than thirty (30) days after the Effective Date, the Borrower shall have entered into the Back-Up Servicing Agreement with the Back-Up Servicer.
Back-up Servicing Agreement. The Back-up Servicing Agreement is hereby amended as follows:
(i) Each reference therein to “Borrower” shall be deemed to be a reference to LEAF II B SPE, as assignee of MLEF.
(ii) Each reference therein to “LEAF SPE” shall be deemed to be a reference to LEAF II, as assignee of LEAF IDM.
(iii) Section 2.04 thereof is hereby amended by deleting the phrase “the Applicable Priority of Payments” in its entirety and, in lieu thereof, inserting the phrase “the Priority of Payments”.
Back-up Servicing Agreement. The Borrower shall have entered into the Back-Up Servicing Agreement with the Back-Up Servicer.
Back-up Servicing Agreement. No later than March 15, 2001, Delta Funding will, at its own cost, enter into and thereafter at all times maintain in full force and effect the Back-Up Servicing Agreement with the Back-Up Servicer and satisfy on a timely basis all conditions with respect to the transfer of servicing thereunder when such conditions are capable of being satisfied. The Back-Up Servicing Agreement shall provide for mapping and monthly back-up of information relating to the mortgage loans underlying Residual Receivables created after 1996 for which Delta Funding or any Affiliate is the primary servicer. Delta Funding may cease such Back-Up Servicing Agreement at any time that the value of Unencumbered Liquid Assets equals or exceeds $40,000,000, as of the conclusion of any Business Day; provided, further, that if Delta Funding has ceased such Back-Up Servicing Agreement in accordance with the foregoing, Delta Funding shall reinstate such Back-Up Servicing Agreement as soon as practicable and in any event within thirty (30) days if Unencumbered Liquid Assets are less than $32,500,000 at the conclusion of any Business Day.
Back-up Servicing Agreement. No later than March 15, 2001, Delta Funding will, at its own cost, enter into and thereafter at all times maintain in full force and effect the Back-Up Servicing Agreement with the Back-Up Servicer, which will provide for mapping and monthly back-up of information relating to the mortgage loans underlying Residual Receivables created after 1996; provided that Delta Funding may cease such Servicing Agreement at any time that the value of Unencumbered Liquid Assets equals or exceeds $40,000,000; provided, further, that if Delta Funding has ceased such Servicing Agreement in accordance with the foregoing, Delta Funding shall reinstate such Servicing Agreement if Unencumbered Liquid Assets are less than $32,500,000.
Back-up Servicing Agreement. The Agent and the Insurance Provider (so long as no Insurance Provider Default shall have occurred and is continuing) shall have the same rights of removal and termination for cause with respect to the Back-Up Servicer or any other successor Servicer as with respect to FirstCity Funding as the Servicer. Upon the termination and removal of the Servicer, the predecessor Servicer shall cooperate with the successor Servicer and the Back-Up Servicer in effecting the termination of the rights and responsibilities of the predecessor Servicer under this Agreement, including the transfer to the BackUp Servicer or the successor Servicer for administration by it of all cash amounts that shall at the time be held by the predecessor Servicer for deposit, or shall there after be received, with respect to a Receivable, and the related accounts and records maintained by the Servicer. All reasonable costs and expenses (including attorney's fees and disbursements) incurred in connection with the transferring of Receivables to the successor Servicer, converting the Servicer's data to the successor Servicer's computer system and amending this Agreement to reflect such succession as Servicer pursuant to this Section 4.1 shall be paid by the predecessor Servicer upon presentation of reasonable Transition Expenses (the "Transition Expenses"); provided, however, that such Transition Expenses shall not exceed $75,000. If such Transition Expenses are not paid by the predecessor Servicer to the successor Servicer, such Transition Expenses shall be paid by the Parent pursuant to Section 2.02(q) of the Insurance Agreement. In no event shall the Back-Up Servicer, if it becomes Servicer, be responsible for any Transition Expenses. If both the predecessor Servicer and the Parent shall fail to pay the Transition Expenses, the Transition Expenses shall be payable pursuant to Section 5.1(a) of this Agreement. Upon the termination or removal of the Back-Up Servicer, the Insurance Provider (so long as no Insurance Provider Default shall have occurred and is continuing) or the Agent, if an Insurance Provider Default has occurred and is continuing, may select a successor Servicer and such successor Servicer shall service the Receivables in accordance with the Credit and Collection Policy and this Agreement. The Servicer and the Back-Up Servicer shall resign only with the prior written consent of the Insurance Provider or if the Servicer or the Back-Up Servicer, as the case may be, provides an O...
Back-up Servicing Agreement. The Servicer shall comply with its obligations set forth under the Back-up Servicing Agreement.
