Replacement of Servicers. Following the occurrence of a Servicer Termination Event, the Administrative Agent may, or upon the direction of the Required Buyers, shall, replace any or all Servicers with itself or any agent for the Administrative Agent with respect to any and all Purchased Receivables. Sellers shall be responsible for all reasonable costs and expenses incurred in connection with such replacement and shall promptly reimburse the Administrative Agent with respect to same. Any amount due and payable pursuant to this clause shall be paid to the Administrative Agent’s Account in immediately available funds by no later than the first Settlement Date following demand therefor by the Administrative Agent.
Replacement of Servicers. Following the occurrence of a Servicer Termination Event, the Purchaser may, at its discretion, replace any or all Servicers with itself or any agent for the Purchaser with respect to any and all Purchased Receivables. Sellers shall be responsible for all reasonable costs and expenses incurred in connection with such replacement and shall promptly reimburse the Purchaser with respect to same.
Replacement of Servicers. The Purchaser may (i) upon five Business Days prior written notice at any time after the occurrence and during the continuation of a Servicer Replacement Event that is an Insolvency Event (other than a proceeding by or against the Servicer as “debtor” in the United States Bankruptcy court, in which event replacement of Servicer shall not require notice and shall be automatic as described below) with respect to any Servicer, and (ii) upon 10 Business Days prior written notice from Purchaser to such Servicer at any time after the occurrence and during the continuation of any other Servicer Replacement Event, replace such Servicer (which replacement may be made through the outplacement to a Person of all back office duties, including billing, collection and processing responsibilities, and access to all personnel, hardware and software utilized in connection with such responsibilities); provided that any such Servicer may be replaced with another Servicer hereunder immediately upon notice thereof from the Purchaser to each such Servicer; provided that the termination of each Servicer shall be automatic in the case of an Insolvency Event that constitutes a filing (voluntary or involuntary) in the United States Bankruptcy Court, with respect to any Servicer. The Company shall promptly reimburse the Purchaser for all expenses incurred by the Purchaser in connection with such replacement. After written notice from Purchaser to Seller of Purchaser’s replacement of Servicer, the outgoing Servicer shall use commercially reasonable efforts to cooperate with and assist Purchaser’s newly designated replacement Servicer in the transition to the incoming servicer of the outgoing Servicer’s functions hereunder.
Replacement of Servicers. Following the occurrence of a Servicer Termination Event, the Administrative Agent may, or upon the direction of the Required Buyers, shall, replace any or all Servicers with itself or any agent for the Administrative Agent with respect to any and all Purchased Receivables. Sellers shall be responsible for all reasonable costs and expenses incurred in connection with such replacement and shall promptly reimburse the Administrative Agent with respect to same. Any amount due and payable pursuant to this clause shall be paid to the Administrative Agent’s Account in immediately available funds by no later than the first Settlement Date following demand therefor by the Administrative Agent. [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.
Replacement of Servicers. Upon the occurrence of a Servicer Replacement Event with respect to any Servicer, the Purchaser may at any time thereafter replace such Servicer (which replacement may be made through the outplacement to a Person of all back office duties, including billing, collection and processing responsibilities, and access to all personnel, hardware and software utilized in connection with such responsibilities); provided that the termination of each Servicer shall be automatic in the case of an Insolvency Event with respect to any Servicer. The Company shall promptly reimburse the Purchaser for all expenses incurred by the Purchaser in connection with such replacement.
Replacement of Servicers. The Purchaser may (i) upon two (2) Business Days prior written notice at any time after the occurrence and during the continuation of a Servicer Replacement Event that is an Insolvency Event (other than a proceeding by or against the Servicers as “debtor” in the United States Bankruptcy court, in which event replacement of Servicer shall not require notice and shall be automatic as described below) with respect to any Servicer and (ii) upon five (5) Business Days prior written notice from Purchaser to such Servicer at any time after the occurrence and during the continuation of any other Servicer Replacement Event, replace such Servicer (which replacement may be made through the outplacement to a Person of all back office duties, including billing, collection and processing responsibilities, and access to all personnel, hardware and software utilized in connection with such responsibilities); provided that the termination of each Servicer shall be automatic in the case of an Insolvency Event that constitutes a filing (voluntary or involuntary) in the United States Bankruptcy Code, with respect to any Servicer with respect to any Servicer. The Company shall promptly reimburse the Purchaser for all reasonable and out-of-pocket expenses incurred by the Purchaser in connection with such replacement.
Replacement of Servicers. The failure of any Seller or the Guarantor, to replace any Servicer in accordance with the applicable Servicing Agreement within the earlier of (1) the timeframe set forth in such Servicing Agreement or (2) thirty (30) days, in either case, upon a default of the Servicer thereunder; or
Replacement of Servicers. Following the occurrence of a Servicer Termination Event with respect to a Servicer other than Hanes, the Buyer may, at its discretion, upon at least five (5) Business Days’ prior notice to the applicable Servicer, replace such Servicer with itself or any agent for the Buyer with respect to any and all Purchased Receivables. Following the occurrence of a Servicer Termination Event with respect to Hanes, the Buyer may, at its discretion, upon at least five (5) Business Days’ prior notice to the applicable Servicers, replace any or all Servicers with itself or any agent for the Buyer with respect to any and all Purchased Receivables Sellers shall be responsible for all reasonable costs and expenses incurred in connection with such replacement and shall promptly reimburse the Buyer with respect to same. (k) The Buyer as Attorney-in-Fact. Sellers hereby appoint the Buyer as the true and lawful attorney-in-fact of Sellers, with full power of substitution, coupled with an interest, and hereby authorizes and empowers the Buyer in the name and on behalf of Sellers at any time following removal of any Seller as Servicer following the occurrence of a Servicer Termination Event, upon at least five (5) Business Days’ prior notice to the applicable Servicer, to take such actions, and execute and deliver such documents, as the Buyer deems necessary or advisable in connection with any applicable Purchased Receivable (i) to perfect the purchase and sale of such Purchased Receivable, including, without limitation, to send a notice of such purchase and sale to the Account Debtor of the transfers contemplated hereby and the sale of such Purchased Receivable or (ii) to make collection of and otherwise realize the benefits of such Purchased Receivable. At any time following removal of any Seller as Servicer following the occurrence of a Servicer Termination Event and upon at least five (5) Business Days’ prior notice to the applicable Servicer, the Buyer shall have the right to bring suit, in the Buyer’s or any Seller’s name, and generally have all other rights of an owner and holder respecting each applicable Purchased Receivable, including without limitation the right to accelerate or extend the time of payment, settle, compromise, release in whole or in part any amounts owing on such Purchased Receivables and issue credits in its own name or the name of such Seller. At any time following removal of any Seller as Servicer following the occurrence of a Servicer Termination Ev...
