Removal or Resignation of Cellco as Servicer. Notwithstanding anything to the contrary in this Agreement or in any other Transaction Document, immediately upon the resignation or removal of Cellco as Servicer pursuant to Sections 7.1 or 7.2 of the Transfer and Servicing Agreement, Cellco, in its individual capacity, will be required to assume the obligation to acquire Receivables as set forth in this Section 3.4 without further action.
Appears in 22 contracts
Samples: Receivables Transfer Agreement (Verizon Owner Trust 2020-B), Receivables Transfer Agreement (Verizon Owner Trust 2020-C), Receivables Transfer Agreement (Verizon Owner Trust 2020-A)
Removal or Resignation of Cellco as Servicer. Notwithstanding anything to the contrary in this Agreement or in any other Transaction Document or Series Related Document, immediately upon the resignation or removal of Cellco as Servicer pursuant to Sections 7.1 or 7.2 of the Transfer and Servicing Agreement, Cellco, in its individual capacity, will be required to assume the obligation to acquire Receivables as set forth in this Section 3.4 without further action.
Appears in 6 contracts
Samples: Transfer and Servicing Agreement (Verizon Master Trust), Transfer and Servicing Agreement (Verizon Master Trust), Receivables Transfer Agreement (Verizon Master Trust)
