Servicing Covenants. Each Seller covenants and agrees, in connection with its servicing obligations pursuant to Section 5.1, (i) that the payment instructions currently in force and provided to each Approved Obligor specify that each such Approved Obligor shall pay all amounts owing under the Purchased Receivables to the applicable Existing Account, (ii) not to change such payment instructions while any Purchased Receivable remains outstanding without the Administrative Agent’s prior consent, (iii) that it shall keep accurate books and records with respect to each relevant Seller Account, clearly identifying the source of all amounts deposited and otherwise held therein, and (iv) to take any and all other commercially reasonable actions, including such commercially reasonable actions as may be requested by the Administrative Agent from time to time, to (a) recover and enforce payment of any defaulted Purchased Receivable and (b) ensure that all amounts owing under the Purchased Receivables be deposited by the Approved Obligors exclusively to the applicable Existing Account or as otherwise instructed by the Administrative Agent. Each Seller further covenants and agrees (A) that at all times on or prior to the Final Collection Date, all Collections and other funds received into any Existing Account will be swept (on a same-day basis) in immediately available funds to a Collection Account; provided that any amounts credited to any Existing Account after 2:00 p.m. New York time on any Business Day shall be deemed received on the next following Business Day, (B) upon receipt into a Collection Account of any Collections and other funds swept from an Existing Account, such Seller shall identify and reconcile such funds with its books and records, (C) not to give instructions to any other Person to pay any amounts into any Collection Account and (D) to take any and all other commercially reasonable actions, including commercially reasonable actions as may be requested by the Administrative Agent from time to time, to ensure that all Collections will be transferred from the applicable Existing Account to a Collection Account within such one Business Day period, and that amounts deposited in or otherwise standing to the credit of a Collection Account will be disbursed in accordance with the provisions of Section 5.7. Any payment by an Approved Obligor of any amount owing under any Purchased Receivable that is not paid to the applicable Seller Account and is received by the applicable Se...
Servicing Covenants. From the date hereof until the Final Scheduled Payment Date, the Issuer shall comply with the following covenants.
Servicing Covenants. From the date hereof until the Final ------------------- Payout Date, Issuer (or the Master Servicer on its behalf) will, unless the Administrator shall otherwise consent in writing comply with the following covenants.
Servicing Covenants. With respect to each Mortgage Serviced by the Seller or an approved third party Servicer on behalf of FHLBI:
Servicing Covenants. From the date hereof until the termination of this Indenture in accordance with its terms, the Issuer shall comply with the following covenants.
Servicing Covenants. Until the date after the Facility Termination Date on which the Advance shall have been repaid in full, all Yield shall have been paid, and no other amount shall be owing to the Secured Parties under this Agreement:
Servicing Covenants. 36 SECTION 7.04. Negative Covenants of the Borrower .................. 37
Servicing Covenants. The Servicer covenants with and undertakes to each of the Guarantor and the Bond Trustee that without prejudice to any of its specific obligations hereunder it will (unless the Servicer is a Successor Servicer), at its own expense take or cause to be taken all such reasonable actions as may be necessary or advisable from time to time to administer and service the Loans and their Related Security in the Portfolio in accordance herewith, including, without limitation, the Servicing Standard.
Servicing Covenants. Each Seller covenants and agrees, in connection with its servicing obligations pursuant to Section 5.1, (i) that the payment instructions currently in force and provided to each Approved Obligor specify that each such Approved Obligor shall pay all amounts owing under the Purchased Receivables to the applicable Seller Account or Approved Account, (ii) not to change such payment instructions while any Purchased Receivable remains outstanding without the Purchaser’s prior consent, (iii) that it shall keep accurate books and records with respect to each relevant Seller Account and Approved Account, clearly identifying the source of all amounts deposited and otherwise held therein, and (iv) to take any and all other commercially reasonable actions, including such commercially reasonable actions as may be requested by the Purchaser from time to time, to (a) recover and enforce payment of any defaulted Purchased Receivable and (b) ensure that all amounts owing under the Purchased Receivables be deposited by the Approved Obligors exclusively to the applicable Seller Account, the applicable Approved Account or as otherwise instructed by the Purchaser. Each Seller further covenants and agrees (A) upon receipt into a Seller Account or Approved Account of any Collections, such Seller shall identify and reconcile such funds with its books and records and
Servicing Covenants. Each Seller covenants and agrees, in connection with its servicing obligations pursuant to Section 5.1, (i) that the payment instructions currently in force and provided to each Approved Obligor specify that each such Approved Obligor shall pay all amounts owing under the Purchased Receivables to the applicable Existing Account, (ii) not to change such payment instructions while any Purchased Receivable remains outstanding without the Administrative Agent’s prior consent, (iii) that it shall keep accurate books and records with respect to each relevant Seller Account, clearly identifying the source of all amounts deposited and otherwise held therein, and (iv) to take any and all other commercially reasonable actions, including such commercially reasonable actions as may be requested by the Administrative Agent from time to time, to (a) recover and enforce payment of any defaulted Purchased Receivable and (b) ensure that all amounts owing under the Purchased Receivables be deposited by the Approved Obligors exclusively to the applicable Existing Account or as otherwise instructed by the Administrative Agent. Each Seller further covenants and agrees (A) that at all times on or prior to the Final Collection Date, all Collections and other funds received into any Existing Account will be swept (on a same-
