Common use of Initial Servicer Clause in Contracts

Initial Servicer. The Borrower hereby appoints AGTB Fund Manager, LLC, pursuant to the terms and conditions of this Agreement, as Servicer, with the authority to service, administer and exercise rights and remedies, on behalf of the Borrower, in respect of the Collateral. Until the Administrative Agent gives AGTB Fund Manager, LLC a Servicer Removal Notice, AGTB Fund Manager, LLC hereby accepts such appointment and agrees to perform the duties and responsibilities of the Servicer pursuant to the terms hereof. The Servicer and the Borrower hereby acknowledge that the Administrative Agent and the Secured Parties are third party beneficiaries of the obligations undertaken by the Servicer hereunder.

Initial Servicer. The Borrower hereby appoints AGTB FEPC Fund Manager, Servicer LLC, pursuant to the terms and conditions of this Agreement, as Servicer, with the authority to service, administer and exercise rights and remedies, on behalf of the Borrower, in respect of the Collateral. Until the Administrative Agent gives AGTB FEPC Fund Manager, Servicer LLC a Servicer Removal Notice, AGTB FEPC Fund Manager, Servicer LLC hereby accepts such appointment and agrees to perform the duties and responsibilities of the Servicer pursuant to the terms hereof. The Servicer and the Borrower hereby acknowledge that the Administrative Agent and the Secured Parties are third party beneficiaries of the obligations undertaken by the Servicer hereunder.