Effect of Supplement on Basic Servicing Agreement Sample Clauses

Effect of Supplement on Basic Servicing Agreement. (a) Except as otherwise specifically provided herein or unless the context otherwise requires, (i) the parties hereto shall continue to be bound by all provisions of the Basic Servicing Agreement and (ii) the provisions set forth herein shall operate either as additions to or modifications of the extant obligations of the parties under the Basic Servicing Agreement, as the context may require. In the event of any conflict between this Supplement and the Basic Servicing Agreement in respect of the 20[__]-[__] SUBI, the provisions of this Supplement shall prevail.
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Effect of Supplement on Basic Servicing Agreement. (a) Except as otherwise specifically provided herein or unless the context otherwise requires, (i) the parties hereto shall continue to be bound by all provisions of the Basic Servicing Agreement and (ii) the provisions set forth herein shall operate either as additions to or modifications of the extant obligations of the parties under the Basic Servicing Agreement, as the context may require. In the event of any conflict between this Servicing Supplement and the Basic Servicing Agreement in respect of the 20[__]-[__] SUBI, the provisions of this Servicing Supplement shall prevail. (b) For purposes of determining the obligations of the parties hereto under this Servicing Supplement with respect to the 20[__]-[__] SUBI, except as otherwise indicated by the context, general references in the Basic Servicing Agreement to (i) a SUBI Certificate shall be deemed to refer more specifically to the 20[__]-[__] SUBI Certificate, (ii) the SUBI shall be deemed to refer more specifically to the 20[__]-[__] SUBI, (iii) a SUBI Portfolio shall be deemed to refer more specifically to the portfolio of assets of the 20[__]-[__] SUBI, (iv) a SUBI Asset shall be deemed to refer more specifically to the 20[__]-[__] Leases, the 20[__]-[__] Vehicles and the other Trust Assets allocated to or earned by the 20[__]-[__] SUBI, (v) a SUBI Servicing Agreement Supplement shall be deemed to refer more specifically to this Servicing Supplement and (vi) a SUBI Supplement shall be deemed to refer more specifically to the 20[__]-[__] SUBI Supplement.
Sample 1

Related to Effect of Supplement on Basic Servicing Agreement

  • Termination of Sub-Servicing Agreements For so long as the Trust or any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, each of the Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator and the Trustee, as applicable, shall (i) cause each Sub-Servicing Agreement (with respect to the Master Servicer or the Special Servicer) or sub-servicing agreement (with respect to any other Servicer) to which it is a party to entitle the Depositor to terminate such agreement (without compensation, termination fee or the consent of any other Person) at any time following any failure of the applicable Sub-Servicer or sub-servicer, as applicable, to deliver any Exchange Act reporting items that such Sub-Servicer or sub-servicer, as applicable, is required to deliver under Regulation AB or as otherwise contemplated by this Article X and (ii) promptly notify the Depositor following any failure of the applicable Sub-Servicer or sub-servicer, as applicable, to deliver any Exchange Act reporting items that such Sub-Servicer or sub-servicer, as applicable, is required to deliver under Regulation AB or as otherwise contemplated by this Article X. The Depositor is hereby authorized to exercise the rights described in clause (i) of the preceding sentence in its sole discretion. The rights of the Depositor to terminate a Sub-Servicing Agreement (with respect to the Master Servicer or the Special Servicer) or sub-servicing agreement (with respect to any other Servicer) as aforesaid shall not limit any right Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as applicable, may have to terminate such Sub-Servicing Agreement or sub-servicing agreement, as applicable.

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