Common use of Duties of the Servicer Clause in Contracts

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing and equipment management to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable Assets. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing and equipment management to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsLoans. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing and equipment management to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable Purchaser Assets. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to each Purchaser and the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may be reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing [and equipment management management] to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable [Loans] [Purchaser Assets]. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to each Lender and the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing and equipment management to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all 700148759 06142559 Servicing Agreement Servicing Records and other information with respect to the Receivable AssetsLoans. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time following the ---------------------- appointment of a Successor Servicer: (a) the The Servicer agrees that it shall will terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer Collateral Agent so as to facilitate the transfer of servicing and equipment management to the Successor ServicerServicer including, including without limitation, timely delivery (i) to the Issuer Collateral Agent of any funds that were required to be deposited remitted to the Collateral Agent for deposit in the Collection Account and the Reserve Account Account, and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s the Servicer's interest therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Agent Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicerthe Servicer’s interest interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time following the ---------------------- appointment of a Successor Servicer: (a) the The Servicer agrees that it shall will terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer Collateral Agent so as to facilitate the transfer of servicing and equipment management to the Successor ServicerServicer including, including without limitation, timely delivery (i) to the Issuer Collateral Agent of any funds that were required to be deposited remitted to the Collateral Agent for deposit in the Collection Account and the Reserve Account Account, and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s the Servicer's interest therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreement.

Duties of the Servicer. At any time following the appointment of a Successor Servicer: (a) the Servicer agrees that it shall terminate its activities as servicer hereunder in a manner acceptable to the Issuer so as to facilitate the transfer of servicing [and equipment management management] to the Successor Servicer, including timely delivery (i) to the Issuer of any funds that were required to be deposited in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable [Loans] [Receivables Assets]. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and (b) the Servicer shall terminate each Consolidated Subservicing Agreement and each other Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest therein or to have replaced such outgoing servicer as a party to the Consolidated Subservicing Agreement or any other such Sub-Servicing Agreement.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to each Purchaser and the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicerthe Servicer’s interest interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time The Servicer covenants and ---------------------- agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to each Lender and the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Purchaser and the Collateral Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Collateral Agent that were required to be deposited remitted to the Collateral Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time The Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Lender and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Lender that were required to be deposited remitted to the Lender for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may be reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time Each Servicer covenants and agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the Such Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Purchaser and the Administrative Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Administrative Agent that were required to be deposited remitted to the Administrative Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables and the Related Security to the Successor Servicer at a place selected by the Successor Servicer. The Such Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the such Servicer; and. (b) the Such Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest Servicer's interests therein or to have replaced such outgoing servicer Servicer as a party to any such Sub-Servicing Agreementthereto.

Duties of the Servicer. At any time The Servicer covenants and ---------------------- agrees that, following the appointment of, or assumption of duties by, a Successor Servicer: (a) the The Servicer agrees that it shall terminate its activities as servicer Servicer hereunder in a manner acceptable to the Issuer so as to facilitate that facilitates the transfer of servicing and equipment management duties to the Successor ServicerServicer and is otherwise acceptable to the Purchaser and the Collateral Agent and, including without limiting the generality of the foregoing, shall timely delivery deliver (i) any funds to the Issuer of any funds Collateral Agent that were required to be deposited remitted to the Collateral Agent for deposit in the Collection Account and the Reserve Account and (ii) to the Successor Servicer, at a place selected by the Successor Servicer, of all Servicing Records and other information with respect to the Receivable AssetsTransferred Receivables to the Successor Servicer at a place selected by the Successor Servicer. The Servicer shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitely vest and confirm in the Successor Servicer all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer; and. (b) the The Servicer shall terminate each existing Sub-Servicing Agreement that may have been entered into by it and the Successor Servicer shall not be deemed to have assumed any of such outgoing servicer’s interest the Servicer's interests therein or to have replaced such outgoing servicer the Servicer as a party to any such Sub-Servicing Agreementthereto.