Common use of Servicing of Receivables and Related Assets Clause in Contracts

Servicing of Receivables and Related Assets. Consistent with the Initial Purchaser's ownership of the Receivables and the Related Assets, the Initial Purchaser shall have the sole right to service, administer and collect the Receivables, to assign such right and to delegate such right to others. In consideration of the Initial Purchaser's purchase of the Receivables and the Related Assets, KBK agrees to cooperate fully with the Initial Purchaser to facilitate the full and proper performance of such duties and obligations for the benefit of the Initial Purchaser and the XXX Parties. To the extent that the Initial Purchaser, individually or through the Servicer, has granted or grants powers of attorney to the Administrator under the XXX Agreement, KBK hereby grants a corresponding power of attorney on the same terms to the Initial Purchaser. KBK hereby acknowledges and agrees that the Initial Purchaser, in all of its capacities, shall assign to the Administrator for the benefit of the XXX Parties such powers of attorney and other rights and interests granted by KBK to the Initial Purchaser hereunder, and agrees to cooperate fully with the Administrator in the exercise of such rights.

Servicing of Receivables and Related Assets. Consistent with the Initial Purchaser's ownership of the Receivables and the Related Assets, the Initial Purchaser shall have the sole right to service, administer and collect the Receivables, to assign such right and to delegate such right to others. In consideration of the Initial Purchaser's purchase of the Receivables and the Related Assets, KBK each Originator agrees to cooperate fully with the Initial Purchaser to facilitate the full and proper performance of such duties servicing, administering and obligations collecting for the benefit of the Initial Purchaser Purchaser, the Issuer and the XXX PartiesAdministrator. To the extent that the Initial Purchaser, individually or through the Servicer, has granted or grants powers of attorney to the Administrator under the XXX Receivables Purchase Agreement, KBK each Originator hereby grants a corresponding power of attorney on the same terms to the Initial Purchaser. KBK Each Originator hereby acknowledges and agrees that the Initial Purchaser, in all of its capacities, shall assign to the Administrator for the benefit of the XXX Parties Issuer and the Administrator such powers of attorney and other rights and interests granted by KBK such Originator to the Initial Purchaser hereunder, and agrees to cooperate fully with the Administrator in the exercise of such rights.