Common use of Effect of Transfer Clause in Contracts

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f)) other than those relating to the management, administration, servicing or collection of the Contracts.

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

AutoNDA by SimpleDocs

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsContracts after the Service Transfer.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts Loans after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts Loans and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the ContractsLoans. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.07, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsLoans after the Service Transfer.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be ------ transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f)) other than those relating to the management, administration, servicing or collection of the Contracts.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be ------ transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.06, 11.06 and 11.11(f)) other than those relating to the management, administration, servicing or collection of the Contracts.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.06, 11.06 and 11.11(f)) other than those relating to the management, administration, servicing or collection of the Contracts.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts Loans after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts Loans and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted ------ directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the ContractsLoans. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.07, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsLoans after the Service Transfer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts Loans after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts Loans and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the ContractsLoans. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsLoans after the Service Transfer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

AutoNDA by SimpleDocs

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. (a) After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. (b) A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.06, 11.06 and 11.11(f)) other than those relating to the management, administration, servicing or collection of the Contracts.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts Loans after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts Loans and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted ------ directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the ContractsLoans. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsLoans after the Service Transfer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Effect of Transfer. a. After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts after the effective date of the Service Transfer. b. After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts and the new Servicer shall have all of such obligations, except EXCEPT that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the Contracts. c. A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company pursuant to Article X and Sections 3.05, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsContracts after the Service Transfer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Effect of Transfer. a. (a) After the Service Transfer, the Trustee or new Servicer may shall notify Obligors to make payments directly to the new Servicer that are due under the Contracts Loans after the effective date of the Service Transfer. b. (b) After the Service Transfer, the replaced Servicer shall have no further obligations with respect to the management, administration, servicing or collection of the Contracts Loans and the new Servicer shall have all of such obligations, except that the replaced Servicer will transmit or cause to be transmitted directly to the new Servicer for its own account, promptly on receipt and in the same form in which received, any amounts (properly endorsed where required for the new Servicer to collect them) received as payments upon or otherwise in connection with the ContractsLoans. c. (c) A Service Transfer shall not affect the rights and duties of the parties hereunder (including but not limited to the indemnities of the Servicer and the Company Originator pursuant to Article X and Sections 3.053.07, 11.06 and 11.11(f11.12(f)) other than those relating to the management, administration, servicing or collection of the ContractsLoans after the Service Transfer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!