Common use of Servicing of SBA Lender Loans Clause in Contracts

Servicing of SBA Lender Loans. SBA Lender will service the SBA Lender Loans in the Loan Pool. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit funds which are required to be remitted to Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender will continue to administer such property and will be responsible for its disposition in accordance with the terms of the Pooling and Servicing Agreement. The SBA Lender will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to Trustee in respect of the Unguaranteed Interest, pro rata. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of Default, Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement.

Servicing of SBA Lender Loans. SBA Lender The Servicer will service the SBA Lender Loans in the Loan PoolLoans. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit to the Trustee funds which are required to be remitted to the Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender The Servicer must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender The Servicer must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender Servicer will continue to administer such property and will be responsible for its disposition in accordance with the SBA Rules and Regulations and, to the extent there is no conflict, the terms of the Pooling and Servicing Agreement. The SBA Lender Servicer will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to Trustee in respect of the Unguaranteed Interest, pro rata. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of DefaultUnless the Trustee becomes the Servicer, the Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce the SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement.

Servicing of SBA Lender Loans. SBA Lender TMSIC will service the SBA Lender Loans in the Loan Pool, provided that MSNY may service the SBA Lender Loans it originated. Any servicing actions required of TMSIC under the Pooling and Servicing Agreement or this Agreement may be performed by MSNY, but performance by MSNY will not limit or reduce TSMIC's obligations or liabilities as Servicer under the Pooling and Servicing Agreement or this Agreement. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit funds which are required to be remitted to the Trustee to the Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender TMSIC must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender TMSIC must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of the Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender TMSIC will continue to administer such property and will be responsible for its disposition in accordance with the terms of the Pooling and Servicing Agreement. The SBA Lender TMSIC will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to the Trustee in respect of the Unguaranteed Interest, pro rataPRO RATA. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of Default, Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement.

Servicing of SBA Lender Loans. SBA Lender The Servicer will service ------------------------------ the SBA Lender Loans in the Loan Pool. Any servicing actions required of the Servicer under the Pooling and Servicing Agreement or this Agreement may be performed by a Subservicer, but performance by such Subservicer will not limit or reduce the Servicer's obligations or liabilities as Servicer under the Pooling and Servicing Agreement or this Agreement. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit to the Trustee funds which are required to be remitted to the Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender The Servicer must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender The Servicer must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of the Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender Servicer will continue to administer such property and will be responsible for its disposition in accordance with the SBA Rules and Regulations and, to the extent there is no conflict, the terms of the Pooling and Servicing Agreement. The SBA Lender Servicer will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to the Trustee in respect of the Unguaranteed Interest, pro rata. SBA may, at its --- ---- option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of DefaultUnless Trustee becomes the Servicer, the Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce the SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement.

Servicing of SBA Lender Loans. SBA Lender The Servicer will service the SBA Lender Loans Loans. Any servicing actions required of the Servicer under the Sale and Servicing Agreement or this Agreement may be performed by a Subservicer (as defined in the Loan PoolAnnex A to the Sale and Servicing Agreement) approved by SBA under an agreement approved by SBA, but performance by such Subservicer will not limit or reduce the Servicer's obligations or liabilities as Servicer under the Sale and Servicing Agreement or this Agreement. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation AgreementsAgreements and this Agreement, and and, to the extent there is no conflict, will remit to the Indenture Trustee funds which are required to be remitted to the Indenture Trustee in accordance with the terms of the Pooling Sale and Servicing Agreement. SBA Lender The Servicer must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default and against any collateral securing any SBA Lender Loan or against any other source of payment in accordance with SBA Rules and RegulationsRegulations and prudent servicing standards. SBA Lender The Servicer must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling Sale and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure or other action enforcing a lien on the property will be titled in the name of Trustee the Trust for the benefit of the SBA and or such other name as SBA may direct, the holders of the CertificatesFunding Notes and the Certificates and the Hedge Counterparties (as defined in the Transaction Documents), as their interests may appear, subject to the terms of this Agreement. The SBA Lender Servicer will continue to administer such property and will be responsible for its disposition in accordance with the SBA Rules and Regulations and, to the extent there is no conflict, the terms of the Pooling Sale and Servicing Agreement. The SBA Lender Servicer will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to Trustee SBA Lender for the benefit of the Trust, in respect of the Unguaranteed Interest, pro rata. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of DefaultUnless the Indenture Trustee becomes the Servicer, the Indenture Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling Sale and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce the SBA Lender's obligations or liabilities as servicer under the Pooling Sale and Servicing Agreement or this Agreement.

Servicing of SBA Lender Loans. SBA Lender TMSIC will service the SBA Lender Loans, provided that MSNY may service the SBA Lender Loans in it originated. Any servicing actions required of TMSIC under the Loan PoolPooling and Servicing Agreement or this Agreement may be performed by MSNY, but performance by MSNY will not limit or reduce TSMIC's obligations or liabilities as Servicer under the Pooling and Servicing Agreement or this Agreement. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit to the Trustee funds which are required to be remitted to the Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender TMSIC must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender TMSIC must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of the Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender TMSIC will continue to administer such property and will be responsible for its disposition in accordance with the SBA Rules and Regulations and, to the extent there is no conflict, the terms of the Pooling and Servicing Agreement. The SBA Lender TMSIC will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed uaranteed Interest, and to the Trustee in respect of the Unguaranteed Interest, pro rataPRO RATA. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of DefaultUnless the Trustee becomes the Servicer, the Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce either SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement. The SBA hereby approves MSNY as a subservicer under this Agreement and the Pooling and Servicing Agreement.

Servicing of SBA Lender Loans. Except as set forth in Section 11, SBA Lender will continue to hold all Loan Documents, except that (i) FTA will hold the Notes and (ii) Warehouse Lender may hold any original assignment of mortgage, any original assignment of any other collateral securing an SBA Lender Loan and any original assignment of a Uniform Commercial Code financing statement. SBA Lender or Appointed Servicer, as the case may be, will service the SBA Lender Loans Loans, collect amounts owing under the Note or any other Loan Document, enforce remedies and liquidate collateral in accordance with SBA Rules and Regulations, except as approved by SBA. The SBA Lender, Appointed Servicer and any successor Servicer, as the case may be, will be responsible for providing the information on the Guaranty Loan Status and Lender Remittance Form (SBA Form 1502), with respect to each SBA Lender Loan, to the FTA in accordance with SBA Rules and Regulations. After the occurrence of an Event of Default, property acquired through foreclosure or deed‑in‑lieu of foreclosure will be titled in the name of the person or entity SBA directs, for the benefit of SBA and Warehouse Lender, as their interests appear under this Agreement. Appointed Servicer will administer and be responsible for the disposition of all property acquired through foreclosure or deed-in-lieu of foreclosure in accordance with SBA Rules and Regulations, except as approved by SBA. SBA may take over servicing of SBA Lender Loans under any circumstances allowing SBA to take over servicing under SBA Rules and Regulations. SBA may use contractors to perform these actions. So long as SBA Lender is the Servicer, SBA Lender will deposit (or cause to be deposited) in a general account of SBA Lender all funds received by SBA Lender from SBA Lender Loan PoolDebtors or any other source, including payments and recoveries from collateral, insurance and guarantees. The All subservicers, successor Servicers, and to the extent Warehouse Lender is acting in any capacity other than successor Servicer, Warehouse Lender, will deposit all such funds it receives in a segregated account containing only such funds. SBA Lender or Appointed Servicer will remit funds to which the Guaranteed Holders Registered Holders, FTA or SBA is are entitled in accordance with the terms of the Participation Agreements. Unless it becomes the Servicer, and will remit funds which are required to be remitted to Trustee in accordance with the terms under no circumstances, including an Event of the Pooling and Servicing Agreement. SBA Lender must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, Default (but subject to the terms of following sentences in this Agreement. The SBA subsection), may Warehouse Lender will continue to administer such property and will be responsible for its disposition in accordance with the terms of the Pooling and Servicing Agreement. The SBA Lender will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to Trustee in respect of the Unguaranteed Interest, pro rata. SBA may, at its option, assume servicing of take any action regarding any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of Default(including collecting payments or any other servicing), Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) Debtor, any action with respect to any SBA Lender Loan Debtor or Note, any collateral securing any SBA Lender Loan, any other source of payment or any Loan Document without SBA's prior written consent, including any action pursuant to any power of attorney granted to it by SBA Lender, except for the limited purpose of executing or filing or recording financing statements under the Uniform Commercial Code or other documents required to perfect or evidence the grant of a security interest or lien to Warehouse Lender and not executed or filed or recorded by SBA Lender. Other than its remedy of foreclosure under Part 6 of the Uniform Commercial Code (or any successor Part or provisions), Warehouse Lender may not, without SBA's prior written consent, exercise any remedies it may have upon the occurrence of an Event of Default against the SBA Lender Loans, any Note, any collateral for the SBA Lender Loans or the SBA Lender Loan Debtors or under any Loan Document whether such remedies arise under the Uniform Commercial Code, any other applicable law or otherwise. Warehouse Lender will give SBA notice within three business days after it becomes aware of an Event of Default that Warehouse Lender intends to use as the basis for any such action. Warehouse Lender must give 10 days written notice to SBA of any action to foreclose, but no consent other than SBA's consent to the proposed transferee is required to foreclose. Warehouse Lender may not transfer any interest in any SBA Lender Loan in a foreclosure sale or otherwise without SBA's prior written consent to the proposed transferee. The proposed transferee must be an SBA participating lender, operating under a current 750 Agreement, and must be acceptable to SBA in its sole discretion. Upon consenting to any proposed transfer, SBA will give FTA prompt written notice of its consent. Any actions required transferee must agree to be bound by this Agreement and must enter into any other agreement SBA requires in connection with transfer of any interests in any SBA Lender Loan. So long as SBA Lender, an Appointed Servicer or SBA is servicing the SBA Lender Loans, Warehouse Lender shall not prevent such servicer from having access to or use of SBA Lender’s books and records (including computer records and databases) or related equipment for the purpose of servicing the SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this AgreementLoans.

Servicing of SBA Lender Loans. SBA Lender TMSIC will service the SBA Lender Loans in the Loan Pool, provided that MSNY may service the SBA Lender Loans it originated. Any servicing actions required of TMSIC under the Pooling and Servicing Agreement or this Agreement may be performed by MSNY, but performance by MSNY will not limit or reduce TSMIC's obligations or liabilities as Servicer under the Pooling and Servicing Agreement or this Agreement. The Servicer will remit funds to which the Guaranteed Holders or SBA is entitled in accordance with the terms of the Participation Agreements, and will remit funds which are required to be remitted to the Trustee to the Trustee in accordance with the terms of the Pooling and Servicing Agreement. SBA Lender TMSIC must proceed with all collection, enforcement of remedies and liquidation actions against SBA Lender Loan Debtors in default in accordance with SBA Rules and Regulations. SBA Lender TMSIC must perform all servicing activities in accordance with SBA Rules and Regulations, the Participation Agreements and, to the extent there is no conflict, the Pooling and Servicing Agreement. Property acquired through foreclosure or deed in lieu of foreclosure will be titled in the name of the Trustee for the benefit of the SBA and the holders of the Certificates, as their interests may appear, subject to the terms of this Agreement. The SBA Lender TMSIC will continue to administer such property and will be responsible for its disposition in accordance with the terms of the Pooling and Servicing Agreement. The SBA Lender TMSIC will distribute disposition proceeds to the SBA, as party in interest with respect to the Guaranteed Interest, and to the Trustee in respect of the Unguaranteed Interest, pro rataPRO RATA. SBA may, at its option, assume servicing of any SBA Lender Loan in accordance with SBA Rules and Regulations. Prior to an Event of Default, Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan. Any actions required of SBA Lender under the Pooling and Servicing Agreement or this Agreement may be performed by or through a subservicer approved by SBA under an agreement approved by SBA, but any such subservicing arrangement will not limit or reduce either SBA Lender's obligations or liabilities as servicer under the Pooling and Servicing Agreement or this Agreement. The SBA hereby approves MSNY as a subservicer under this Agreement and the Pooling and Servicing Agreement.