Common use of Servicing of Asset Pools Clause in Contracts

Servicing of Asset Pools. The Borrower, the Servicer and the Lender shall enter into a Servicing Agreement, in form and content acceptable to the Lender, to provide for the servicing and collection of all Assets (the "Servicing Agreement"). Immediately upon the occurrence of a Servicer Default as defined in the Servicing Agreement, the Lender may terminate the Servicer then acting in such capacity under the Servicing Agreement and may appoint a replacement servicer, and enter into a replacement servicing agreement, reasonably acceptable to the Borrower and the Lender.

Servicing of Asset Pools. The Borrower, the Servicer and the Lender shall enter into a Servicing Agreement, in form and content acceptable to the Lender, to provide for the servicing and collection of all Assets (the "“Servicing Agreement"”). Immediately upon the occurrence of a Servicer Default as defined in the Servicing Agreement, the Lender may terminate the Servicer then acting in such capacity under the Servicing Agreement and may appoint a replacement servicer, and enter into a replacement servicing agreement, reasonably acceptable to the Borrower and the Lender.