Common use of Covenants of the Backup Servicer Clause in Contracts

Covenants of the Backup Servicer. The Backup Servicer hereby covenants that: (a) The Backup Servicer will comply in all material respects with all Applicable Law. (b) The Backup Servicer will preserve and maintain its existence, rights and franchises as a corporation in good standing under the laws of the jurisdiction of its incorporation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the other Transaction Documents and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. (c) The Backup Servicer shall perform in all material respects all of its obligations and duties under this Agreement.