Servicer Standard of Care Sample Clauses

Servicer Standard of Care. In managing, administering, servicing, enforcing and making collections on the Lease Contracts and Equipment pursuant to this Agreement, the Servicer will exercise that degree of skill and care consistent with industry standards for servicing of small to medium ticket equipment leasing portfolios, and that which the Servicer customarily exercises with respect to similar lease contracts and equipment owned or originated by it, and in any event, in a prudent and commercially reasonable manner. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply with all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of MBIA or the Certificateholders in any Lease Contracts or payments thereunder. Section 3.03
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Servicer Standard of Care. In managing, administering, servicing, enforcing and making collections on the Lease Contracts and Equipment pursuant to this Agreement, the Servicer will exercise that degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar lease contracts and equipment owned by it, and in any event, in a prudent and commercially reasonable manner. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply with all applicable federal and state laws and regulations, shall maintain all State and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of the Bond Insurer or the Noteholders in any Lease Contracts or payments thereunder.
Sample 1
Servicer Standard of Care. In managing, administering, servicing, enforcing and making collections on the Loan Contracts and the Vehicles pursuant to this Servicing Agreement, the Servicer will exercise that degree of skill and care consistent with industry standards for the servicing of sub-prime motor vehicle loan portfolios, and that which the Servicer customarily exercises with respect to similar sub-prime motor vehicle loan contracts and interests in motor vehicle loans owned or originated by it in accordance with the Credit and Collection Policy, and in any event, in a prudent and commercially reasonable manner. The Servicer shall punctually perform all of its obligations and agreements under this Servicing Agreement and shall comply with all applicable Federal and state laws and regulations, shall maintain all state and Federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of MBIA or the Noteholders in any Loan Contracts or payments thereunder.
Sample 1
Servicer Standard of Care. Except as otherwise specifically provided herein, in managing, administering, servicing, enforcing and making collections on the Contract Assets pursuant to this Agreement, the Servicer will follow its credit and collection policies and procedures, except as otherwise specifically required herein. To the extent this Agreement and the Servicer's credit and collection policies and procedures are silent as to a particular matter, the Servicer shall exercise the degree of skill and care consistent with industry standards for servicing of micro-ticket equipment leasing portfolios and, if no clear industry standard exists, then in a reasonable manner. Notwithstanding the foregoing, the Servicer shall not be required to incur costs or pursue any collection efforts with respect to a Defaulted Contract if it reasonably believes that the Recoveries received with respect to such Defaulted Contract will be insufficient to reimburse the Servicer for the costs and expenses incurred by it in connection therewith. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply in all material respects with all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder.
Sample 1
Servicer Standard of Care. In managing, administering, servicing, enforcing and making collections on the Lease Contracts, Equipment and Leased Vehicles pursuant to this Agreement, the Servicer will exercise that degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar lease contracts, equipment and vehicles owned by it, and in any event, in a prudent and commercially reasonable manner. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply with all applicable federal and state laws and regulations, shall maintain all State and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of the Bond Insurer or the Certificateholders in any Lease Contracts or payments thereunder.
Sample 1
Servicer Standard of Care. Except as otherwise specifically provided herein, in managing, administering, servicing, enforcing and making collections on the Contracts and Equipment pursuant to this Agreement, the Servicer will (x) exercise that degree of skill and care that the Servicer customarily exercises with respect to similar contracts and equipment owned or originated by its affiliates, and (y) in any event, act in a prudent and commercially reasonable manner when doing so, consistent with industry standards for servicing of micro to medium ticket equipment leasing portfolios. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply in all material respects with all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of the Note Insurer or the Noteholders in any Contract or Scheduled Payments thereunder.
Sample 1
Servicer Standard of Care. In managing, administering, servicing and enforcing collections on the Policies pursuant to this Agreement, the Servicer will exercise that degree of skill and care consistent with industry standards for servicing of insurance policy portfolios, and that which the Servicer customarily exercises (or did exercise) with respect to similar life insurance policies owned by it and as described in the Operations Manual, and in any event, in a prudent and commercially reasonable manner. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply with all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of the Issuer, the Indenture Trustee, or the Noteholders in any Policy or payments of Policy Proceeds thereunder. Notwithstanding the foregoing, any written instructions from the Majority Noteholders to discontinue payment of premiums on a Policy shall be deemed a waiver of any further obligations of the Servicer hereunder with respect to such Policy. The Servicer shall deliver copies of any material amendments or modifications of the Operations Manual to the Indenture Trustee upon adoption, and shall not implement any material amendment or modification to the Operations Manual with respect to the Policies without the prior written approval of the Majority Noteholders.
Sample 1
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Servicer Standard of Care. In managing, administering, servicing, enforcing and making collections on the Lease Contracts and Equipment pursuant to this Agreement, the Servicer will provide such services in a manner consistent with past practice and applicable law and will not change such practice in any way that would cause an adverse material change in such practice. In any event, the Servicer warrants that in providing such services it will exercise that degree of skill and care consistent with that which other lessors in the industry customarily exercise with respect to similar lease contracts and equipment owned or serviced by them. The Servicer shall punctually perform all of its obligations and agreements under this Agreement and shall comply with all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not materially impair the rights of the Noteholders in any Lease Contracts or payments thereunder.
Sample 1

Related to Servicer Standard of Care

  • Servicer’s Standard of Care In performing Serviced Duties hereunder with respect to any Serviced Appointment, the Purchasers shall comply with the terms of the applicable Serviced Corporate Trust Contracts, including the standard of care set forth therein (including the standard that applies in the case of an event of default), and shall perform the Serviced Duties in accordance with the terms of the applicable Serviced Corporate Trust Contracts and this Agreement and in compliance with applicable Law, including, as applicable, Item 1122 of Regulation AB and 12 C.F.R. Part 9, as though the Purchasers were directly responsible for the Serviced Duties under the applicable Serviced Corporate Trust Contracts. Each of the Purchasers covenants and agrees that it shall perform the Serviced Duties in a manner consistent with (and with a standard of care no less than) the Purchasers’ practices in servicing its own corporate trust business (including the Business acquired by the Purchasers), and, with respect to each Serviced Appointment, in accordance with the applicable Serviced Corporate Trust Contract.

  • Disclaimer; Standard of Care The Service Provider makes no representations or warranties, express or implied, in respect of the Services. In no event will the Service Provider or its Related Parties be liable to the Company or any of its affiliates for any act, alleged act, omission or alleged omission that does not constitute gross negligence or willful misconduct by the Service Provider as determined by a final, non-appealable determination of a court of competent jurisdiction.

  • Manager’s Standard of Care Manager shall perform its duties under this Agreement in a manner consistent with professional property management services. In no event shall the scope or quality of services provided by Manager for the Property hereunder be less than those generally performed by professional property managers of similar properties in the market area where the Property is located. Manager shall make available to Owner the full benefit of the judgment, experience, and advice of the members and employees of Manager’s organization with respect to the policies to be pursued by Owner in operating the Property, and will perform the services set forth herein and such other services as may be requested by Owner in managing, operating, maintaining and servicing the Property.

  • Standard of Care In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Sub-Advisor, the Sub-Advisor shall not be subject to liability to the Advisor, the Trust or to any shareholder of the Portfolio for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.

  • Liability; Standard of Care Notwithstanding anything herein to the contrary, neither Subadviser, nor any of its directors, officers or employees, shall be liable to Manager or the Trust for any loss resulting from Subadviser’s acts or omissions as Subadviser to the Fund, except to the extent any such losses result from bad faith, willful misfeasance, reckless disregard or gross negligence on the part of the Subadviser or any of its directors, officers or employees in the performance of the Subadviser’s duties and obligations under this Agreement.

  • Performance of Duties and Standard of Care In performing its duties hereunder and any other duties listed on any Schedule hereto, if any, the Bank will be entitled to receive and act upon the advice of independent counsel of its own selection, which may be counsel for the Fund, and will be without liability for any action taken or thing done or omitted to be done in accordance with this Agreement in good faith in conformity with such advice. The Bank will be under no duty or obligation to inquire into and will not be liable for:

  • Standard of Care and Liability of Sub-Adviser The Sub-Adviser shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Fund in connection with the matters to which this Agreement relates, except that nothing herein contained will be construed to protect the Sub-Adviser against any liability to the Adviser, the Fund or its shareholders by reason of: (a) the Sub-Adviser’s causing the Fund to be in violation of any applicable federal or state law, rule or regulation or any investment policy or restriction set forth in the Prospectus or any written guidelines, policies or instruction provided in writing by the Trust’s Board of Trustees or the Adviser or (b) the Sub-Adviser’s willful misfeasance, bad faith or gross negligence in the performance of its duties hereunder or its reckless disregard of its obligations and duties under this Agreement.

  • Standard of Care as Foreign Custody Manager of a Portfolio. In performing the responsibilities delegated to it, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.

  • General Standard of Care The Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement, and shall be liable to the Fund for all loss, damage and expense suffered or incurred by the Fund resulting from the failure of the Custodian to exercise such reasonable care and diligence.

  • STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO In performing the responsibilities delegated to it, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.

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