Common use of Confirmation of Servicing Clause in Contracts

Confirmation of Servicing. The Servicer is obligated under the Pooling and Servicing Agreement to service and administer each Defaulted Receivable that has been transferred automatically to the applicable Transferor until all related Recoveries have been remitted to the Trustee, for the benefit of the Trust. Each Subservicer has been engaged by the Servicer to subservice and administer the Receivables arising in the Accounts owned by such Subservicer. Pursuant to such engagement, each Subservicer has the power and authority, whether acting in its own name or on behalf of another and whether acting alone or through the Servicer, to do any and all things in connection with the subservicing and administration of the Receivables which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement, including the power and authority to commence collection or enforcement proceedings with respect to delinquent Receivables, including the Defaulted Receivables. Each of the Servicing Fee and each Subservicing Fee is an arm’s-length and fair-market-value fee for all of the obligations of the Servicer and each Subservicer, as applicable, under the Pooling and Servicing Agreement and the Supplemental Servicing Agreement, respectively, including its obligation to service and administer each Defaulted Receivable.

Confirmation of Servicing. The Servicer is obligated under the Pooling and Servicing Agreement to service and administer each Defaulted Receivable that has been transferred automatically to the applicable Transferor until all related Recoveries have been remitted to the Indenture Trustee, for the benefit of the Trust. Each The Subservicer has been engaged by the Servicer to subservice and administer the Receivables arising in the Accounts owned by such the Subservicer. Pursuant to such engagement, each the Subservicer has the power and authority, whether acting in its own name or on behalf of another and whether acting alone or through the Servicer, to do any and all things in connection with the subservicing and administration of the Receivables which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement, including the power and authority to commence collection or enforcement proceedings with respect to delinquent Receivables, including the Defaulted Receivables. Each of the Servicing Fee and each the Subservicing Fee is an arm’s-length and fair-market-value fee for all of the obligations of the Servicer and each the Subservicer, as applicable, under the Pooling and Servicing Agreement and the Supplemental Servicing Agreement, respectively, including its obligation to service and administer each Defaulted Receivable.

Confirmation of Servicing. The Servicer is obligated under the Pooling and Servicing Agreement to service and administer each Defaulted Receivable that has been transferred automatically to the applicable Transferor until all related Recoveries have been remitted to the Indenture Trustee, for the benefit of the Trust. Each Subservicer has been engaged by the Servicer to subservice and administer the Receivables arising in the Accounts owned by such Subservicer. Pursuant to such engagement, each Subservicer has the power and authority, whether acting in its own name or on behalf of another and whether acting alone or through the Servicer, to do any and all things in connection with the subservicing and administration of the Receivables which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement, including the power and authority to commence collection or enforcement proceedings with respect to delinquent Receivables, including the Defaulted Receivables. Each of the Servicing Fee and each Subservicing Fee is an arm’s-length and fair-market-value fee for all of the obligations of the Servicer and each Subservicer, as applicable, under the Pooling and Servicing Agreement and the Supplemental Servicing Agreement, respectively, including its obligation to service and administer each Defaulted Receivable.

Confirmation of Servicing. The Servicer is obligated under the Pooling and Servicing Agreement to service and administer each Defaulted Receivable that has been transferred automatically to the applicable Transferor until all related Recoveries have been remitted to the Trustee, for the benefit of the Trust. Each The Subservicer has been engaged by the Servicer to subservice and administer the Receivables arising in the Accounts owned by such the Subservicer. Pursuant to such engagement, each the Subservicer has the power and authority, whether acting in its own name or on behalf of another and whether acting alone or through the Servicer, to do any and all things in connection with the subservicing and administration of the Receivables which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement, including the power and authority to commence collection or enforcement proceedings with respect to delinquent Receivables, including the Defaulted Receivables. Each of the Servicing Fee and each the Subservicing Fee is an arm’s-length and fair-market-value fee for all of the obligations of the Servicer and each the Subservicer, as applicable, under the Pooling and Servicing Agreement and the Supplemental Servicing Agreement, respectively, including its obligation to service and administer each Defaulted Receivable.