Responsibilities of Special Servicer Sample Clauses

Responsibilities of Special Servicer. (a) The Special Servicer, for the benefit of the Depositor, the Trustee and the Certificateholders, shall be responsible for, and shall, in accordance with the Servicing Guidelines, pursue the managing, servicing, administering and enforcing of the Loans, the enforcement of the Trustee's interest in the Loan and Assets conveyed and assigned pursuant to the Trust Agreement, the repossession and sale of the Loan Collateral upon default of the related Loan and the enforcement of all other remedies under the Loans, in accordance with the standards and procedures set forth in this Agreement and any related provisions of the
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Responsibilities of Special Servicer. (a) The Special Servicer, for the benefit of the Depositor, the Trustee and the Certificateholders, shall be responsible for, and shall, in accordance with the Servicing Guidelines, pursue the managing, servicing, administering and enforcing of the Loans, the enforcement of the Trustee's interest in the Loan and Assets conveyed and assigned pursuant to the Trust Agreement, the repossession and sale of the Loan Collateral upon default of the related Loan and the enforcement of all other remedies under the Loans, in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust Agreement. The Special Servicer's responsibilities shall include responding to inquiries of Obligors, investigating delinquencies, providing appropriate federal income tax information to the Trustee for use in providing information to the Certificateholders and the Certificateholder Agent and maintaining Insurance Policies. Subject to Section 3.04 and the other provisions contained herein, the Special 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 management, servicing, administration, enforcement and such sale of the Loan Collateral that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Special Servicer shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.04, to execute and deliver (on behalf of itself, the Depositor, the Certificateholders, the Certificateholder Agent, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Loans and any files or documentation pertaining to the Loan Assets. Subject to Section 3.04, the Special Servicer also may, in its sole discretion, waive any late payment charge or penalty, or any other fees (but not, without the prior written consent of the Certificateholder Agent, any prepayment fee or premium) that may be payable to it in the ordinary course of servicing any Loan. Notwithstanding the foregoing, the Special Servicer shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Loan. The Trustee shall, at the expense of the Special Service...
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Related to Responsibilities of Special Servicer

  • Responsibilities of Sub-Adviser In carrying out its obligations under this Agreement, the Sub-Adviser agrees that it will:

  • Responsibilities of Seller Anything herein to the contrary notwithstanding, the exercise by the Agent and the Purchasers of their rights hereunder shall not release the Servicer, Originator or Seller from any of their duties or obligations with respect to any Receivables or under the related Contracts. The Purchasers shall have no obligation or liability with respect to any Receivables or related Contracts, nor shall any of them be obligated to perform the obligations of Seller.

  • Responsibilities of the Successor Servicer The Successor Servicer will not be responsible for delays attributable to the Servicer’s failure to deliver information, defects in the information supplied by the Servicer or other circumstances beyond the control of the Successor Servicer. The Successor Servicer will make arrangements with the Servicer for the prompt and safe transfer of, and the Servicer shall provide to the Successor Servicer, all necessary servicing files and records, including (as applicable and deemed necessary by the Successor Servicer at such time): (i) imaged Contract documentation, (ii) servicing system tapes, (iii) Contract payment history, (iv) collections history, and (v) the trial balances, as of the close of business on the day immediately preceding conversion to the Successor Servicer, reflecting all applicable Contract information. The Successor Servicer shall have no responsibility and shall not be in default hereunder nor incur any liability for any failure, error, malfunction or any delay in carrying out any of its duties under this Agreement if any such failure or delay results from the Successor Servicer acting in accordance with information prepared or supplied by a Person other than the Successor Servicer or the failure of any such Person to prepare or provide such information. The Successor Servicer shall have no responsibility, shall not be in default and shall incur no liability (i) for any act or failure to act by any third party, including the Servicer, the Trust Depositor or the Trustees, or for any inaccuracy or omission in a notice or communication received by the Successor Servicer from any third party or (ii) which is due to or results from the invalidity, unenforceability of any Contract with applicable law or the breach or the inaccuracy of any representation or warranty made with respect to any Contract.

  • Duties and Responsibilities of the Servicer (a) The Servicer shall conduct the servicing, administration and collection of the Transferred Loans and shall take, or cause to be taken, all such actions as may be necessary or advisable to service, administer and collect Transferred Loans from time to time on behalf of the Borrower and as the Borrower’s agent.

  • Servicer's Responsibilities In addition to any other obligations set forth herein, upon acquisition of each REO, the Servicer shall be responsible for:

  • Responsibilities of the Transfer Agent The Transfer Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Fund, by its acceptance hereof, shall be bound:

  • Responsibilities of the Seller (a) Anything herein to the contrary notwithstanding, the Seller shall: (i) perform all of its obligations, if any, under the Contracts related to the Pool Receivables to the same extent as if interests in such Pool Receivables had not been transferred hereunder, and the exercise by the Administrator, the Purchaser Agents or the Purchasers of their respective rights hereunder shall not relieve the Seller from such obligations, and (ii) pay when due any taxes, including any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. The Administrator, the Purchaser Agents or any of the Purchasers shall not have any obligation or liability with respect to any Pool Asset, nor shall any of them be obligated to perform any of the obligations of the Seller, Servicer, WESCO or the Originators thereunder.

  • Responsibilities of Adviser Without limiting the generality of the foregoing, the Adviser shall, during the term and subject to the provisions of this Agreement:

  • Responsibilities of the Sponsor In connection with the issue and sale of the Preferred Securities, the Sponsor shall have the exclusive right and responsibility to engage in the following activities:

  • Responsibilities of the Company 11.1 The Company agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as may reasonably be required by the Transfer Agent for the carrying out, or performing by the Transfer Agent of the provisions of this Agreement.

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