Common use of Servicing Undertakings Clause in Contracts

Servicing Undertakings. The Servicer undertakes that at all times during the Term it will: (a) (notice of default) give notice in writing to the Trustee and each Designated Rating Agency of it becoming aware of the occurrence of any Servicer Transfer Event; (i) maintain in effect all qualifications, consents, licenses, permits, approvals, exemptions, filings and registrations as may be required under any applicable law in order properly to service the Receivables and Receivable Rights and to perform or comply with its obligations under this Agreement; (ii) comply with all Laws in connection with servicing the Receivables and Receivable Rights where failure to do so would have a Material Adverse Effect; and (iii) comply with the Consumer Credit Legislation in connection with servicing the Receivables and Receivable Rights so that the Trustee does not personally or in its capacity as trustee of the Trust become liable to pay any Civil Penalty Payments.