Common use of Duties with Respect to the Basic Documents Clause in Contracts

Duties with Respect to the Basic Documents. Credit Acceptance shall perform all its duties and, unless otherwise specified, the administrative duties of the Issuer under the Basic Documents. In addition, Credit Acceptance shall consult with the Indenture Trustee and, so long as both a Class A Insurer Default and a Backup Insurer Default are not continuing, the Controlling Party, as Credit Acceptance deems appropriate regarding the duties of the Issuer under the Basic Documents. Credit Acceptance shall monitor the performance of the Trust and shall advise the Owner Trustee and Indenture Trustee, so long as both a Class A Insurer Default and a Backup Insurer Default are not continuing, and the Controlling Party, when action is necessary to comply with the Trust's duties under the Basic Documents. The Seller shall execute and deliver all Issuer Orders and Officer's Certificates required by the Trust under the Indenture. Notwithstanding anything herein to the contrary, the Backup Servicer, as successor Servicer, shall not have an obligation to perform such duties set forth in this Section 4.01(c).

Duties with Respect to the Basic Documents. Credit Acceptance shall perform all its duties and, unless otherwise specified, the administrative duties of the Issuer under the Basic Documents. In addition, Credit Acceptance shall consult with the Indenture Trustee and, so long as both a Class A Insurer Default and a Backup Insurer Default are is not continuing, the Controlling PartyClass A Insurer, as Credit Acceptance deems appropriate regarding the duties of the Issuer under the Basic Documents. Credit Acceptance shall monitor the performance of the Trust and shall advise the Owner Trustee and Indenture Trustee, so long as both a Class A Insurer Default and a Backup Insurer Default are is not continuing, and the Controlling PartyClass A Insurer, when action is necessary to comply with the Trust's ’s duties under the Basic Documents. The Seller (to the extent the Servicer does not) shall execute and deliver all Issuer Orders and Officer's ’s Certificates required by the Trust under the Indenture. Notwithstanding anything herein to the contrary, the Backup Servicer, as successor Servicer, shall not have an obligation to perform such duties set forth in this Section 4.01(c).