Duties of the Subservicer. (a) As agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such Receivables and to charge-off as uncollectible such Receivables, in each case in accordance with the Servicing Agreement, the applicable Account Agreements, the applicable Account Guidelines, and the Subservicer’s customary and usual servicing procedures for servicing credit or charge receivables comparable to such Receivables. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Servicing Agreement. (b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for subservicing the Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with servicing other comparable receivables. The Subservicer may commingle Collections on the Receivables to the extent permitted of the Servicer under the Servicing Agreement. (c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Servicing Agreement. (d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder. (e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each Receivable and the related Account, the failure to comply with which would have an Adverse Effect. (f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority. (g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Guidelines, nor shall it sell any assets in the Trust. (h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument (as defined in the UCC). (i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Servicing Agreement. Nothing in this Agreement shall be construed as granting to a Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Servicing Agreement.
Appears in 1 contract
Samples: Supplemental Servicing Agreement (American Express Receivables Financing Corp VIII LLC)
Duties of the Subservicer. (a) As agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such applicable Receivables and to charge-off as uncollectible such Receivablesperform the duties enumerated in Items 1122(d)(1)(i), (d)(1)(ii), (d)(2)(i), (d)(2)(ii), (d)(4)(ii), (d)(4)(iv), (d)(4)(vi), (d)(4)(vii), (d)(4)(viii), (d)(4)(ix) and (d)(4)(xiv) of Regulation AB, in each case in accordance with the Servicing Agreement, the applicable Account Agreements, the applicable Account Credit Guidelines, and the Subservicer’s customary and usual servicing procedures for servicing credit or charge receivables comparable to such ReceivablesReceivables and the applicable servicing agreements with the Account Owners. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for subservicing the applicable Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with servicing other comparable receivables. The Subservicer may commingle Collections on the applicable Receivables to the extent permitted of the Servicer under the Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each applicable Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effect.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Guidelines, nor shall it sell any assets in the Trust.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Servicing Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (American Express Receivables Financing Corp VIII LLC)
Duties of the Subservicer. (a) As agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such applicable Receivables and to charge-off as uncollectible such Receivablesperform the duties enumerated in Items 1122(d)(iv), (vi), (vii), (viii), (ix) and (xiv) of Regulation AB, in each case in accordance with the Transfer and Servicing Agreement, the applicable Account Agreements, the applicable Account Credit Guidelines, and the Subservicer’s 's customary and usual servicing procedures for servicing credit or charge receivables comparable to such ReceivablesReceivables and the applicable servicing agreements with the Account Owners. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Transfer and Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for subservicing the applicable Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with servicing other comparable receivables. The Subservicer may commingle Collections on the applicable Receivables to the extent permitted of the Servicer under the Transfer and Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Transfer and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each applicable Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effect.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Guidelines, nor shall it sell any assets in the Trust.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Transfer and Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Transfer and Servicing Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (American Express Issuance Trust)
Duties of the Subservicer. (a) As The Subservicer shall perform all of ---------------------------- the duties of the Servicer under the Pooling and Servicing Agreement which the Servicer shall request that the Subservicer perform. In connection with such performance, the Subservicer shall, as agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the applicable Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such Receivables and to charge-off as uncollectible such Receivables, in each case in accordance with the Pooling and Servicing Agreement, the applicable Account Credit Card Agreements, the applicable Account Credit Card Guidelines, and the Subservicer’s 's customary and usual servicing procedures for servicing credit or charge receivables comparable to such Receivables. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for any of its duties hereunder including subservicing the applicable Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with its other activities including servicing other comparable receivables. The Subservicer may commingle Collections on the applicable Receivables to the extent permitted of the Servicer under the Pooling and Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Pooling and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each applicable Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effecta material adverse effect on Certificateholders or the Trust.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Card Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Card Guidelines, nor shall it sell any assets in then held by the Trust, except as may be provided by the terms of the Pooling and Servicing Agreement.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Pooling and Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Delegation of Servicing Agreement (Ba Master Credit Card Trust /)
Duties of the Subservicer. (a) As agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such applicable Receivables and to charge-off as uncollectible such Receivablesperform the duties enumerated in Items 1122(d)(iv), (vi), (vii), (viii), (ix) and (xiv) of Regulation AB, in each case in accordance with the Pooling and Servicing Agreement, the applicable Account Agreements, the applicable Account Credit Guidelines, and the Subservicer’s 's customary and usual servicing procedures for servicing credit or charge receivables comparable to such ReceivablesReceivables and the applicable servicing agreements with the Account Owners. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for subservicing the applicable Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with servicing other comparable receivables. The Subservicer may commingle Collections on the applicable Receivables to the extent permitted of the Servicer under the Pooling and Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Pooling and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each applicable Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effect.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Guidelines, nor shall it sell any assets in the Trust.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Pooling and Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (American Express Receivables Financing Corp Iv LLC)
Duties of the Subservicer. (a) As The Subservicer shall perform all of the duties of the Servicer under the Pooling and Servicing Agreement which the Servicer shall request that the Subservicer perform. In connection with such performance, the Subservicer shall, as agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the applicable Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such Receivables and to charge-off as uncollectible such Receivables, in each case in accordance with the Pooling and Servicing Agreement, the applicable Account Cardholder Agreements, the applicable Account Credit Card Guidelines, and the Subservicer’s 's customary and usual servicing procedures for servicing credit or charge receivables comparable to such Receivables. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for any of its duties hereunder including subservicing the applicable Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with its other activities including servicing other comparable receivables. The Subservicer may commingle Collections on the applicable Receivables to the extent permitted of the Servicer under the Pooling and Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Pooling and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each applicable Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effecta material adverse effect on Certificateholders or the Trust.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Card Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Card Guidelines, nor shall it sell any assets in then held by the Trust, except as may be provided by the terms of the Pooling and Servicing Agreement.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Pooling and Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Delegation of Servicing Agreement (Fleet Credit Card Master Trust Ii)
Duties of the Subservicer. (a) As agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such Receivables and to charge-off as uncollectible such Receivables, in each case in accordance with the Pooling and Servicing Agreement, the applicable Account Agreements, the applicable Account Credit Guidelines, and the Subservicer’s customary and usual servicing procedures for servicing credit or charge receivables comparable to such Receivables. As agent for the Servicer, the Subservicer shall have full 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 such subservicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement.
(b) The Subservicer shall not be obligated to use separate servicing procedures, offices, employees, or accounts for subservicing the Receivables from the procedures, offices, employees, and accounts used by the Subservicer in connection with servicing other comparable receivables. The Subservicer may commingle Collections on the Receivables to the extent permitted of the Servicer under the Pooling and Servicing Agreement.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Pooling and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice properly each Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing each Receivable and the related Account, the failure to comply with which would have an Adverse Effect.
(f) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(g) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any Receivable. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Guidelines, nor shall it sell any assets in the Trust.
(h) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable to be evidenced by any instrument (as defined in the UCC).
(i) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Pooling and Servicing Agreement. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Receivables that is more expansive than that granted to the Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Supplemental Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
Duties of the Subservicer. (a) As The Subservicer shall service and administer the Receivables and perform such other duties of the Servicer under the Pooling and Servicing Agreement with respect to the Receivables as the Servicer shall request; provided, however, that such performance shall not, unless otherwise requested by the Servicer, include (A) making or directing deposits to or withdrawals from the Collection Account, the Finance Charge Account, the Principal Account or any Series Accounts, or (B) instructing the Trustee to perform or act in any manner. In connection with such performance, the Subservicer shall, as agent for the Servicer, the Subservicer shall take all actions reasonably requested by the Servicer to subservice service and administer the Receivables, to collect and deposit into the Collection Account, a Segregation Account or any other account payments due under such Receivables and to charge-off as uncollectible such Receivables, in each case in accordance with the Pooling and Servicing Agreement, the applicable Account Credit Card Agreements, the applicable Account Credit Card Guidelines, and and, to the extent consistent with the foregoing, the Subservicer’s customary and usual servicing procedures for servicing credit or charge card receivables comparable to such Receivables. As agent for the Servicer, the Subservicer shall have full 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 such subservicing servicing and administration which it may deem necessary or desirable and which is permitted of the Servicer under the Pooling and Servicing Agreement, excluding any power to direct the Trustee or take any action with respect to the Trustee’s accounts.
(b) The Subservicer shall not be obligated to use separate servicing or administrative procedures, offices, employees, or accounts for subservicing any of its duties hereunder, including servicing the Receivables and administering payments in respect of the Accounts, from the procedures, offices, employees, and accounts used by the Subservicer in connection with its other activities, including servicing other comparable receivables. The Subservicer may commingle Collections on the Receivables to the extent permitted receivables and administering payments in respect of the Servicer under the Servicing Agreementother comparable accounts.
(c) The Servicer shall furnish the Subservicer with any files, records, or documents necessary or appropriate to enable the Subservicer to carry out its subservicing and administrative duties hereunder. The Subservicer shall furnish the Servicer with any files, records, or documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under the Pooling and Servicing Agreement.
(d) The Subservicer shall pay out of its own funds, without reimbursement, all expenses incurred in connection with its subservicing activities hereunder.
(e) The Subservicer shall duly satisfy all obligations on its part to be fulfilled under or in connection with each Receivable and the related Account, will maintain in effect all qualifications required under Requirements of Law in order to subservice service properly each applicable Receivable and the related Account, and will comply in all material respects with all other Requirements of Law in connection with subservicing servicing and administering each applicable Receivable and the related Account, the failure to comply with which would have an Adverse Effecta material adverse effect on Investor Certificateholders or Master Trust II.
(fe) The Subservicer shall not authorize any rescission or cancellation of any Receivable except in accordance with the applicable Account Credit Card Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.
(gf) The Subservicer shall not take any action which, or omit to take any action the omission of which, would impair the rights of the Trust or the Indenture Trustee in any ReceivableReceivable or the rights of FIA in any Account. The Subservicer shall not reschedule, revise, or defer payments due on any Receivable except in accordance with the applicable Account Credit Card Guidelines, nor shall it sell any assets in the Trust.
(hg) Except in connection with its enforcement or collection of an Account, the Subservicer shall not take any action to cause any Receivable or any Account to be evidenced by any instrument or chattel paper (as defined in the UCC).
(ih) As reasonably requested by the Servicer, the Subservicer shall (i) furnish the Servicer with true and complete copies of all reports, statements, certificates, notices, and other documents received or generated by the Subservicer in connection with its duties hereunder and (ii) cooperate with the Servicer in taking any and all actions which the Servicer deems necessary in order for it to satisfactorily perform its obligations under the Pooling and Servicing AgreementAgreement or the Credit Card Agreements related to the Accounts. Nothing in this Agreement shall be construed as granting to a the Subservicer any right or power with respect to the Accounts or the related Receivables that is more expansive than that granted to the Servicer with respect to the servicing and administration of the Receivables under the Pooling and Servicing Agreement.
(i) The Subservicer shall comply with and perform its obligations in accordance with the Credit Card Agreements and the Credit Card Guidelines in all material respects.
(j) All collections and other payments that are received by the Subservicer on the Accounts, including, but not limited to, amounts received in respect of Interchange, will be distributed to the Servicer on the Business Day next succeeding the date on which such collections or payments are received by the Subservicer, or such other day as may be consented to by the Servicer. The Subservicer agrees that all collections and other payments received by the Subservicer on the Accounts will be held in trust for the Servicer until distributed to the Servicer. Subject to this subsection 4(j), the Subservicer may commingle Collections on the Receivables to the extent permitted of the Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Delegation of Servicing Agreement (BA Master Credit Card Trust II)