Common use of Subservicing Agreements Between Servicer and Subservicers Clause in Contracts

Subservicing Agreements Between Servicer and Subservicers. The Servicer initially appoints HAFI to subservice the Receivables. From time to time after the Closing Date, the Servicer may enter into a subservicing agreement with any Person other than HAFI which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any agreement relating to subservicing and the Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 14.7 hereof, unless otherwise required pursuant to this Agreement or pursuant to applicable law, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Servicer’s obligation to deliver such certificate or statement.

Subservicing Agreements Between Servicer and Subservicers. The Servicer initially appoints HAFI to subservice the Receivables. From time to time after the Closing Date, the Servicer may enter into a subservicing agreement with any Person other than HAFI which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Servicer pursuant to this Agreement. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Servicer shall not be relieved of its obligations under this Agreement and each Basic Document to which it is a party notwithstanding any agreement relating to subservicing and the Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Servicer shall be deemed to have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that with respect to statements or certificates required to be delivered by the Servicer in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.9 and 4.10 and 14.7 hereof, unless otherwise required pursuant to this Agreement or pursuant to applicable law, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Servicer’s obligation to deliver such certificate or statement.

Subservicing Agreements Between Servicer and Subservicers. The Servicer initially appoints HAFI to subservice the Receivables. From time to time after the Closing Date, the Servicer may enter into a subservicing agreement agreements for any servicing and administration of Mortgage Loans with any Person other than HAFI institution (including affiliates) which is an Eligible Subservicer acceptable to the Insurer and is in compliance with the laws of each state necessary to enable it to perform its obligations under such subservicing agreement. The Servicer shall give notice to the obligations Indenture Trustee and the Insurer of the Servicer pursuant appointment of any subservicer and shall furnish to the Insurer and the Rating Agencies a copy of the subservicing agreement, unless the subservicer is an affiliate of the Servicer. For purposes of this Agreement, the Servicer shall be deemed to have received payments on Mortgage Loans when any subservicer has received such payments. Any such subservicing agreement shall be consistent with and not violate the provisions of this Agreement. The Servicer shall not be relieved of its obligations under this Agreement Any subservicing agreement and each Basic Document to which it is a party notwithstanding any agreement other transactions or services relating to subservicing and the Servicer shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Receivables. For purposes of this Agreement and each Related Document, the Servicer Mortgage Loans involving a subservicer shall be deemed to be between the subservicer and the Servicer alone and the Insurer, the Indenture Trustee and the Noteholders shall not be deemed parties thereto and shall have received payments on Receivables when any Subservicer has received such payments. The parties hereto acknowledge that no claims, rights, obligations, duties or liabilities with respect to statements or certificates required to be delivered by the Servicer any subservicer except as set forth in accordance with this Agreement and the Series Supplement, including, but not limited to, Sections 4.9, 4.10 and 14.7 hereof, unless otherwise required pursuant to this Agreement or pursuant to applicable law, that a statement or certificate delivered by a subservicer shall be sufficient to discharge the Servicer’s obligation to deliver such certificate or statementSection 4.1(c).