Replacement of Servicer Upon Expiration or Termination Sample Clauses

Replacement of Servicer Upon Expiration or Termination. (a) Notwithstanding anything in this Agreement to the contrary, the Company shall use commercially reasonable efforts to identify and appoint a replacement servicer (which, for the avoidance of doubt, may be the Company) to service the Accounts upon expiration or termination of this Agreement.
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Replacement of Servicer Upon Expiration or Termination. (a) Notwithstanding anything in this Agreement to the contrary, the Company shall use commercially reasonable efforts to identify and appoint a replacement servicer (which, for the avoidance of doubt, may be the Company) to service the Accounts upon expiration or termination of this Agreement. (b) The Servicer shall promptly deliver to the replacement servicer originals or copies of all books and records relating to the Accounts in the Servicer's possession. The Servicer shall promptly remit to the Company payments, if any, received from Cardholders for Accounts no longer serviced by Servicer. The Servicer agrees to cooperate with the replacement servicer in effecting the termination of any of the Servicer’s servicing responsibilities and rights under this Agreement and shall promptly provide the replacement servicer with all documents and records reasonably requested by it to enable it to assume the functions of the Servicer. (c) The Servicer shall continue to provide the Services until a replacement servicer is in place, provided such period shall be limited to ninety (90) days following the termination or expiration of this Agreement. The Servicer shall be entitled to its compensation under Section 2.02(a) earned with respect to all periods through the completion of the transition of servicing to the replacement servicer and reimbursement and payment for all costs and expenses incurred and/or Services rendered through the transition that the Servicer is entitled to reimbursement or payment pursuant to the terms of this Agreement, including, without limitation, under Schedule 2.02(b) and any agreed upon statements of work. Unless the Company terminates this Agreement because of a Servicer Event of Default, the Company shall compensate the Servicer for any costs and expenses incurred by Servicer to facilitate the transition of servicing to a replacement servicer. 48 ARTICLE XI INDEMNIFICATION 11.01.
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Related to Replacement of Servicer Upon Expiration or Termination

  • Waiver of Servicer Termination Events The Noteholders of a majority of the Note Balance of the Controlling Class or, if no Notes are Outstanding, the Owner Trustee, at the direction of the holder of the Residual Interest, may direct the Indenture Trustee to waive a Servicer Termination Event, except failure to make required deposits to or payment from any of the Bank Accounts, and its consequences. On any waiver, the Servicer Termination Event will be considered not to have occurred. No waiver will extend to any other Servicer Termination Event or impair a right relating to any other Servicer Termination Event. The Issuer will promptly notify the Rating Agencies of any waiver.

  • Action upon Termination, Resignation or Removal Promptly upon the effective date of termination of this Agreement pursuant to the first sentence of Section 1.09 or the resignation or removal of the Administrator pursuant to Section 1.09(a), (b) or (c), respectively, the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant to the first sentence of Section 1.09 deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the resignation or removal of the Administrator pursuant to Section 1.09(a), (b) or (c), respectively, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

  • Servicer Defaults; Termination of Servicer (a) Notwithstanding Section 4.1(a) of the Basic Servicing Agreement, the occurrence and continuation of any of the following shall constitute an Event of Default under the Servicing Agreement (each, a “Servicer Default”):

  • DEFAULT; TERMINATION OF SERVICER 95 SECTION 7.01. Events of Default...........................................................95 SECTION 7.02. Trustee to Act; Appointment of Successor....................................97 SECTION 7.03. Notification to Certificateholders..........................................98

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

  • Action upon Termination or Removal Promptly upon the effective date of termination of this Agreement pursuant to Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees accruing to it to the date of such termination or removal.

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