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Common use of Servicing the Loan and the Servicer Clause in Contracts

Servicing the Loan and the Servicer. Xxxxxx is granted the right to appoint a Person to assist Xxxxxx in servicing the Loan (the “Servicer”) at any time with written notice thereof to Borrower. Upon such appointment, the Servicer shall have full authority to act on Xxxxxx’s behalf on all matters applicable to the Loan, the Borrower, the Guarantor, the Collateral and the Project, including, without limitation, the following: (a) The Servicer shall have full authority to service the Loan and to take any and all actions on behalf of the Lender under this Loan Agreement and under all other Loan Documents with respect to the Loan, the Borrower, Guarantor, and the Project including, without limitation, administering the Loan, dispersing loan proceeds, approving payment requests, holding required reserves and deposits, receiving and administering loan and other payments under the Loan, communicating with Borrower and Guarantor, requesting and receiving reports and information, administering inspections, providing notices to Borrower, Guarantor and any Persons, providing demands for payment under the Note and Guarantee, approving or declining the taking of actions, providing consents and approvals (or declinations) for waivers, amendments or other approvals, enforcing of all rights and remedies under the Loan Documents on Xxxxxx’s behalf, and any other activities relating to the Loan. (b) All reports, documents, notices, schedules, financial statements and other materials that are to be delivered to Lender under this Loan Agreement and the other Loan Documents are to be delivered to, and addressed to, Servicer in addition to Lender. (c) All payments under the Note, and payments of other Obligations due Lender, are to be made to Servicer, which, upon receipt in full by Servicer, shall be deemed made to and received by Xxxxxx.

Appears in 1 contract

Samples: Term Loan Agreement (Aemetis, Inc)

Servicing the Loan and the Servicer. Xxxxxx Lxxxxx is granted the right to appoint a Person to assist Xxxxxx Lxxxxx in servicing the Loan (the “Servicer”) and has appointed Greater Commercial Lending (“GCL”) to be the initial Servicer. Lender may substitute any Servicer at any time with and will provide written notice thereof to BorrowerBorrower and Guarantor. Upon such appointment, the Servicer shall have full authority to act on XxxxxxLxxxxx’s behalf on all matters applicable to the Loan, the Borrower, the Guarantor, the Collateral and the Project, including, without limitation, the following: (a) The Servicer shall have full authority to service the Loan and to take any and all actions on behalf of the Lender under this Loan Agreement and under all other Loan Documents with respect to the Loan, the Borrower, Guarantor, and the Project including, without limitation, administering the Loan, dispersing loan proceeds, approving payment requests, holding required reserves and deposits, receiving and administering loan and other payments under the Loan, communicating with Borrower and Guarantor, requesting and receiving reports and information, administering inspections, providing notices to Borrower, Guarantor and any Persons, providing demands for payment under the Note Notes and GuaranteeGuarantees, approving or declining the taking of actions, providing consents and approvals (or declinations) for waivers, amendments or other approvals, enforcing of all rights and remedies under the Loan Documents on XxxxxxLxxxxx’s behalf, and any other activities relating to the Loan. (b) All reports, documents, notices, schedules, financial statements and other materials that are to be delivered to Lender under this Loan Agreement and the other Loan Documents are to be delivered to, and addressed to, Servicer in addition to Lender. (c) All payments under the Note, and payments of other Obligations due Lender, are to be made to Servicer, which, upon receipt in full by Servicer, shall be deemed made to and received by XxxxxxLxxxxx.

Appears in 1 contract

Samples: Construction Loan Agreement (Aemetis, Inc)

Servicing the Loan and the Servicer. Xxxxxx Lender is granted the right to appoint a Person to assist Xxxxxx Lender in servicing the Loan (the “Servicer”) at and has appointed Greater Commercial Lending (“GCL”) to be the initial Servicer. Lender may substitute any time with Servicer upon providing written notice thereof to Borrower. Upon such appointment, the Servicer shall have full authority to act on XxxxxxLender’s behalf on all matters applicable to the Loan, the Borrower, the Guarantor, the Collateral and the Project, including, without limitation, the following: (a) The Servicer shall have full authority to service the Loan and to take any and all actions on behalf of the Lender under this Loan Agreement and under all other Loan Documents with respect to the Loan, the Borrower, Guarantor, and the Project including, without limitation, administering the Loan, dispersing loan proceeds, approving the disbursement of funds from the Project Accounts, approving payment requests, holding required reserves and deposits, receiving and administering loan Loan payments and other payments under the LoanLoan Documents, communicating with Borrower and GuarantorBorrower, requesting and receiving reports and information, administering inspections, providing notices to Borrower, Guarantor Borrower and any Persons, providing demands for payment under the Note and GuaranteeNote, approving or declining the taking of actions, providing consents and approvals (or declinations) for waivers, amendments or other approvals, enforcing of all rights and remedies under the Loan Documents on XxxxxxLender’s behalf, and any other activities relating to the Loan. (b) All reports, documents, notices, schedules, financial statements and other materials that are to be delivered to Lender under this Loan Agreement and the other Loan Documents are to be delivered to, and addressed to, the Servicer in addition to the Lender. (c) All payments under the Note, and payments of other Obligations due Lender, are to be made to Servicer, which, upon receipt in full by Servicer, shall be deemed made to and received by XxxxxxLender. (d) GCL shall be the initial Servicer of the Loan. The appointment of Servicer, and its duties and authorizations, may be modified, transferred to another Person, or terminated by Lender, upon the delivery of written notice thereof from Lender to Borrower and the then current Servicer. Such notice to be delivered at least ninety (90) days prior to the date of modification, transfer or termination, as the case may be, and such notice shall include the following information; the effective date of the change in Servicer and contact information for the Servicer, including contact person, phone number, email address and mailing address.

Appears in 1 contract

Samples: Loan Agreement (Dixie Group Inc)

Servicing the Loan and the Servicer. Xxxxxx Lxxxxx is granted the right to appoint a Person to assist Xxxxxx in servicing be the servicer of the Loan (the “Servicer”) at and has appointed Greater Nevada Credit Union (“GNCU”) to be the initial Servicer. Lender may substitute any time with Servicer upon providing written notice thereof to BorrowerBorrower and Guarantor. Upon such appointment, the Servicer shall have full authority to act on XxxxxxLxxxxx’s behalf on all matters applicable to the Loan, the Borrower, the Guarantor, the Collateral and the Project, including, without limitation, the following: (a) The Servicer shall have full authority to service the Loan and to take any and all actions on behalf of the Lender under this Loan Agreement and under all other Loan Documents with respect to the Loan, the Borrower, Guarantor, and the Project including, without limitation, administering the Loan, dispersing loan proceeds, approving payment draw requests, holding required reserves and deposits, receiving and administering loan and other payments under the Loan, communicating with Borrower and Guarantor, requesting and receiving reports and information, administering inspections, providing notices to Borrower, Guarantor and any Persons, providing demands for payment under the Note Notes and GuaranteeGuarantees, approving or declining the taking of actions, providing consents and approvals (or declinations) for waivers, amendments or other approvals, enforcing of all rights and remedies under the Loan Documents on XxxxxxLxxxxx’s behalf, and any other activities relating to the Loan. (b) All reports, documents, notices, schedules, financial statements and other materials that are to be delivered to Lender under this Loan Agreement and the other Loan Documents are to be delivered to, and addressed to, Servicer in addition to Lender. (c) All payments under the NoteNotes, and payments of other Obligations due LenderObligations, are to be made to Servicer, which, upon receipt in full by Servicer, shall be deemed made to and received by XxxxxxLender. (d) The appointment of Servicer, and its duties and authorizations, may be modified, transferred to another Person, or terminated by Lxxxxx, upon the delivery of written notice thereof from Lender to Borrower, Guarantor and the then current Servicer. Such notice to be delivered at least sixty (60) days prior to the date of modification, transfer or termination, as the case may be.

Appears in 1 contract

Samples: Loan Agreement (XCF Global Capital, Inc.)

Servicing the Loan and the Servicer. Xxxxxx is granted the right to appoint a Person to assist Xxxxxx in servicing the Loan (the “Servicer”) at any time with written notice thereof to Borrower. Upon such appointment, the Servicer shall have full authority to act on Xxxxxx’s behalf on all matters applicable to the Loan, the Borrower, the Guarantor, the Collateral and the Project, including, without limitation, the following: (a) The Servicer shall have full authority to service the Loan and to take any and all actions on behalf of the Lender under this Loan Agreement and under all other Loan Documents with respect to the Loan, the Borrower, Guarantor, and the Project including, without limitation, administering the Loan, dispersing loan proceeds, approving payment requests, holding required reserves and deposits, receiving and administering loan and other payments under the Loan, communicating with Borrower and Guarantor, requesting and receiving reports and information, administering inspections, providing notices to Borrower, Guarantor and any Persons, providing demands for payment under the Note Notes and GuaranteeGuarantees, approving or declining the taking of actions, providing consents and approvals (or declinations) for waivers, amendments or other approvals, enforcing of all rights and remedies under the Loan Documents on Xxxxxx’s behalf, and any other activities relating to the Loan. (b) All reports, documents, notices, schedules, financial statements and other materials that are to be delivered to Lender under this Loan Agreement and the other Loan Documents are to be delivered to, and addressed to, Servicer in addition to Lender. (c) All payments under the NoteNotes, and payments of other Obligations due Lender, are to be made to Servicer, which, upon receipt in full by Servicer, shall be deemed made to and received by Xxxxxx.

Appears in 1 contract

Samples: Construction & Term Loan Agreement (Aemetis, Inc)