Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the Certificateholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedures, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance Policies, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed pursuant to the Trust and Security Agreement, and the sale or the releasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust and Security Agreement and Lease Acquisition Agreement. The Servicer's responsibilities shall include monitoring and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIA, the Rating Agencies and the Certificateholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining the perfected security interest of the Trustee in the Trust Estate. The Servicer (at its expense) shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the p...
Responsibilities of Servicer. Anything herein to the contrary notwithstanding:
Responsibilities of Servicer. Lender shall ensure that any Servicer retained by Lender to service Loans funded under this Agreement shall:
Responsibilities of Servicer. 6 Section 3.02. Standard of Care............................ 9 Section 3.03. Clearing Account, ACH Payments and Servicer Remittances................................. 9 Section 3.04. Property Management......................... 10 Section 3.05.
Responsibilities of Servicer. (a) The Servicer, for the benefit of the Noteholders, shall be responsible for, and shall, in accordance with its customary practices,
Responsibilities of Servicer. Servicer shall have no duties, obligations or responsibilities other than those specifically expressed and set forth herein, and no implied obligations of Servicer shall be read into this Agreement.
Responsibilities of Servicer. 6 Section 3.02 Servicer Standard of Care . . . . . . . . . . . . . . . . . . . . . . . . 8 Section 3.03 Lockbox Account and Servicer Remittances . . . . . . . . . . . . . . . . 9 Section 3.04
Responsibilities of Servicer. Section 2.1. The Borrower hereby appoints and engages Servicer to provide the services described on Annex 1 hereto (the “Services”), pursuant to, and in accordance with, the terms and provisions of this Agreement, and Servicer hereby accepts such appointment and agrees to perform its covenants, duties, obligations and the Services on the terms and conditions set forth in this Agreement. Servicer will, for the benefit of the Borrower and so long as the Loan Agreement is in effect, the Administrative Agent and the Lenders, perform the Services in all cases subject to the Servicing Standard. Servicer shall also take such ancillary actions (even if not specifically set forth in Annex 1) as are reasonably necessary to service the Pledged Policies in accordance with the Servicing Standard. Servicer and the Borrower agree that in the event the Borrower, or so long as the Loan Agreement is in effect, the Administrative Agent, requests Servicer perform additional work other than the Services and such ancillary actions, Servicer will decide in its reasonable discretion whether to perform such work. If Servicer reasonably declines to perform such work, such declination shall not constitute a default and may not serve as a reason for the termination of Servicer.
Responsibilities of Servicer. The exercise by Owner of its rights hereunder shall not release Servicer from any of its duties or responsibilities with respect to the Alarm Accounts. Owner shall have no obligation or liability (except to pay the Servicing Fees) with respect to the Alarm Accounts and shall not be obligated to perform the obligations of Servicer with respect to the Alarm Accounts.
Responsibilities of Servicer. 4 Section 3.02 Servicer Standard of Care ........................... 6 Section 3.03
