Servicer to effect claims Sample Clauses
The "Servicer to effect claims" clause designates the servicer as the party responsible for initiating, managing, and pursuing claims related to the underlying assets or agreements. In practice, this means the servicer will handle all necessary steps to file insurance claims, recover losses, or enforce rights on behalf of the trust or investors. This arrangement ensures that claims are managed efficiently and consistently, centralizing responsibility and reducing the risk of missed opportunities for recovery or enforcement.
Servicer to effect claims. If the Issuer or the Security Trustee is entitled to make a claim under any of the insurances effected in accordance with the provisions of this Part, the Servicer shall take such action as may reasonably be requested of it by the Issuer or the Security Trustee to enable any such claim to be made.