Servicer to Act as Administrator. In the event of the resignation or removal of the Administrator and the failure of a successor Administrator to have been appointed and to have accepted such appointment as successor Administrator, the Servicer shall become the successor Administrator (except as set forth in Section 8(e) of the Administration Agreement) and shall be bound by the terms of the Administration Agreement.
Appears in 81 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2024-C), Sale and Servicing Agreement (CNH Equipment Trust 2024-C), Sale and Servicing Agreement (CNH Equipment Trust 2024-B)
Servicer to Act as Administrator. In the event of the resignation or removal of the Administrator and the failure of a successor Administrator to have been appointed and to have accepted such appointment as successor Administrator, the Servicer shall become the successor Administrator (except as set forth in Section 8(e) of the Administration Agreement) and shall be bound by the terms of the Administration Agreement.
Appears in 78 contracts
Samples: Sale and Servicing Agreement (Deere John Capital Corp), Sale and Servicing Agreement (John Deere Receivables LLC), Sale and Servicing Agreement (Deere John Capital Corp)
Servicer to Act as Administrator. In the event of the resignation or removal of the Administrator and the failure of a successor Administrator to have been appointed and to have accepted such appointment as successor Administrator, the Servicer shall become the successor Administrator (except as set forth in Section 8(e) of the Administration Agreement) and shall be bound by the terms of the Administration Agreement. Notwithstanding the foregoing, in no event shall the Backup Servicer, in its capacity as Successor Servicer, be required to act as Administrator.
Appears in 22 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2011-A), Sale and Servicing Agreement (CNH Equipment Trust 2011-A), Sale and Servicing Agreement (CNH Equipment Trust 2010-C)
Servicer to Act as Administrator. In the event of the resignation or removal of the Administrator and the failure of a successor Administrator to have been appointed and to have accepted such appointment as successor Administrator, the Servicer shall become the successor Administrator (except as set forth in Section 8(e) of the Administration Agreement) and shall be bound by the terms of the Administration Agreement. [Notwithstanding the foregoing, in no event shall the Backup Servicer, in its capacity as Successor Servicer, be required to act as Administrator.]
Appears in 2 contracts
Samples: Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Capital Receivables LLC)
