Common use of Engagement of Successor Servicer; Indenture Trustee to Act Clause in Contracts

Engagement of Successor Servicer; Indenture Trustee to Act. (i) If the Servicer resigns or is terminated under this Agreement, the Indenture Trustee will promptly engage an institution having a net worth of not less than $50,000,000 whose regular business includes the servicing of motor vehicle receivables, as the successor to the Servicer under this Agreement and successor to the Administrator under Section 3.5 of the Administration Agreement.

Engagement of Successor Servicer; Indenture Trustee to Act. (i) If the Servicer resigns or is terminated under this Agreement, the Indenture Trustee will promptly engage an institution having a net worth of not less than $50,000,000 whose regular business and operations includes the servicing of motor vehicle receivablesconsumer receivables and can accommodate the servicing of device payment plan agreements, as the successor to the Servicer under this Agreement (the “Successor Servicer”) and successor to the Administrator under Section 3.5 3.4 of the Administration Agreement.