Servicing Agent. The Trustees may in their discretion from time to time enter into one or more contracts whereby the other party or parties shall undertake to furnish the Trust with Trust and/or Shareholder services. The contract or contracts shall be on such terms and conditions as the Trustees may in their discretion determine.
Servicing Agent. Borrowers shall, subject to the terms and conditions herein set forth, act as servicing agent for Agent in connection with the Eligible Mortgage Loans, including performance of the following services:
(a) collect on a monthly basis all principal and interest due from each Mortgagor Customer under the Mortgage Notes and any other Mortgage Loan Document;
(b) collect any other revenue due in connection with the Mortgage Notes, and any other Mortgage Loan Document, and any other revenue due in connection with matters relating to any Mortgaged Property, including, without limitation, any rents, security deposits, additional rent, direct and indirect operating costs, tenant improvement charges, and any amounts due in connection with or as a result of any casualty or exercise of eminent domain;
(c) except as otherwise provided herein, instruct all Mortgagor Customers to remit all payments in respect of the Mortgage Notes to the Blocked Account in accordance with Section 4.14(d);
(d) cause each Mortgagor Customer to keep the Mortgaged Property owned by such Mortgagor Customer insured in accordance with Annex Two, Part I;
(e) cause each Mortgagor Customer to pay on or before the date when due, any and all general and special city and county taxes of every kind and nature, any and all real estate and ad valorem taxes, personal property taxes, assessments, water rates, sewer rents, fines, impositions, levies, permits, inspection and license fees, all special assessments for public improvements (without permitting any improvement bond to be issued for special assessments) and all other charges now or hereafter levied or imposed upon or assessed against the Mortgaged Property owned by such Mortgagor Customer or any part thereof by any municipality or other governmental authority or upon the revenues, rents, issues, income and profits of such Mortgaged Property or arising in respect of the occupancy, use or possession thereof or the use of walks, chutes, areas and other space beyond the lot line of such Mortgaged Property and on or abutting the public sidewalks and/or highways in front or adjoining such Mortgaged Property or pursuant to any environmental protection act for the use of any furnace, compactors, incinerators, parking areas or for other matters covered by any such act, together with any penalties and interest on any of the foregoing (hereinafter collectively referred to as “Taxes”), and in the event of a default thereof, Agent may pay the same, which costs s...
Servicing Agent. The Trustee shall act as the Servicing Agent for the performance of certain administrative functions, including, but not limited to, distribution of documents to the various parties, performing initial processing of pre-need contracts, calculating balances for individual trust, compiling and distributing annual statements as required by the Act and ITTA, performing various income tax reporting functions and generally communicating with the Provider.
Servicing Agent. Lender’s exclusive agent, which shall be such Person or Persons designated by Borrower and approved by Lender in its sole discretion, for the purposes of billing and collecting amounts due on account of the Pledged Notes Receivable, providing reports pursuant to the Lockbox Agreement and performing other servicing functions not performed by the Lockbox Agent.
Servicing Agent. Bluegreen, as the Servicing Agent, or its successor as Servicing Agent, under the Servicing Agreement. Servicing Agreement: the First Amended and Restated Servicing Agreement dated as of even date herewith among Lender, Borrower and Servicing Agent which provides for Servicing Agent to perform for the benefit of Lender accounting, reporting and other servicing functions with respect to the Receivables Collateral, as it may from time to time be amended, supplemented or restated. Subordination Agreement: such subordination agreement from a Subordinator subordinating Indebtedness owed to it by Borrower to all or a part of the Obligations, whether delivered on or before the Effective Date or thereafter, as the same may from time to time be amended, supplemented or restated. Subordinator: at any time, a Person (including Big Cedar, L.L.C., a Missouri limited liability company, Bluegreen Vacations Unlimited, Inc., a Florida corporation and Bluegreen) then required under the terms of this Agreement to subordinate Indebtedness owed to it by Borrower or Bluegreen to all or any part of the Obligations in accordance with the terms of a Subordination Agreement. Term: the duration of this Agreement, commencing on the Effective Date and ending when all of the payment Obligations have been Performed. Threshold Amount: as defined in Section 2.12. Timeshare Association: individually and collectively, as the context requires, the Big Cedar Timeshare Association, the Long Creek Timeshare Association and the Paradise Point Timeshare Association. Timeshare Declaration: individually and collectively, as the context requires, the Big Cedar Timeshare Declaration, the Long Creek Timeshare Declaration and the Paradise Point Timeshare Declaration. Timeshare Interest: a timeshare fee simple estate in the relevant Timeshare Project as established and provided in the applicable Timeshare Declaration, which consists of an undivided interest as tenant in common with other owners in the relevant Timeshare Program, including the appurtenant exclusive right to occupy and use a Unit for one or more periods per calendar year or per second calendar year of one week or a portion of one week, and subject to the then existing reservation rules and regulations of the applicable Timeshare Association, if applicable, together with all appurtenant rights and interests, including without limitation, the right to make reservations pursuant to the reservation system pertaining thereto, i...
Servicing Agent. Until the Buyer (or the Assignee pursuant to the Receivables Purchase Agreement) gives contrary notice, the Buyer hereby appoints each Originator as its agent (and as sub-collection agent under the terms of the Receivables Purchase Agreement) with respect to the servicing, administering and collecting of the Receivables originated by such Originator, and each such Originator hereby accepts such appointment and agrees to perform in accordance with the applicable terms and conditions of the Receivables Purchase Agreement. Each Originator hereby further agrees not to voluntarily resign as agent for the Buyer in connection with such servicing, administering and collecting functions. Each of the Originators hereby acknowledges that the Buyer can replace such Originator as its agent (and sub-collection agent) at any time for any reason.
Servicing Agent. Debtor shall cause (at Debtor’s sole cost and expense) (i) the Collateral Documents to be held by Servicing Agent for the benefit of Lender pursuant to a Servicing Agreement, and (ii) each Collateral Loan to be (at Debtor’s sole cost and expense) to be serviced by a Servicing Agent in accordance with the Guidelines pursuant to a Servicing Agreement. Debtor shall cause Servicing Agent to service the Collateral Loans in compliance with the Collateral Documents and all applicable laws, rules and regulations.
Servicing Agent. For so long as no Event of Default has occurred hereunder, Borrower or an Affiliate of Borrower; thereafter, Backup Servicer or such other Person as Lender engages, in its sole discretion, at Borrower's sole cost and expense. Servicing Agent shall service each Applicable Underlying Loan, which shall include but not be limited to the collection of all amounts owed Borrower by the Applicable Underlying Borrower, pursuant to the Applicable Underlying Loan Documents, subject to the terms, provisions, and conditions of Section 2 hereof and of the Servicing Agreement and the Lockbox Agreement.
Servicing Agent. (a) Until the Company (or the Agent pursuant to the Receivables Sale Agreement) gives contrary notice, the Company hereby appoints the Originator as its agent (and as sub-collection agent under the terms of the Receivables Sale Agreement) for the servicing, administering and collecting of the Purchased Receivables, and the Orignator hereby accepts such appointment and agrees to perform such duties in accordance with the applicable terms and conditions of the Receivables Sale Agreement. The Originator hereby further agrees not to voluntarily resign as agent for the Company in connection with such servicing, administering and collecting functions. The Company may replace the Originator as its agent (and sub-collection agent) at any time for any reason.
(b) As servicing agent for the Company, the Originator shall take all actions necessary or advisable to collect each Purchased Receivable with care and diligence and shall perform all other servicing activities related to such Receivables as are required by the Collection Agent pursuant to the Receivables Sale Agreement, including providing reports and other information concerning the Purchased Receivables required to be furnished by the Collection Agent pursuant to the Receivables Sale Agreement.
(c) In consideration for the Originator services pursuant to this Section 1.7, for so long as the Originator performs such duties, the Company shall pay to the Originator a cash fee of $50,000 per month payable on the Monthly Settlement Date for the immediately preceding month. The parties hereto agree such servicing fee is a fair market value fee for the servicing functions required hereby.
Servicing Agent. Servicing Agent" shall mean the entity selected by Borrower and approved by Lender to act as the servicing agent pursuant to the Servicing Agreement.
