Substitute Servicer. Notwithstanding the provisions of Section 6.01, the Trustee may, if it shall be unwilling to continue to act as the successor to the Servicer in accordance with Section 6.01, or shall, if it is unable to continue to so act or is so instructed in writing by the Insurer (if no Insurer Default has occurred and is continuing) or the holders of 66-2/3% of the then Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing), appoint a successor to the Servicer in accordance with the provisions of Section 10.03 of the Assignment and Servicing Agreement.
Appears in 8 contracts
Samples: Assignment and Servicing Agreement (Ikon Receivables LLC), Insurance Agreement (Ikon Receivables LLC), Indenture (Ikon Receivables Funding LLC)
Substitute Servicer. Notwithstanding the provisions of Section 6.01, the Trustee may, if it shall be unwilling to continue to act as the successor to the Servicer in accordance with Section 6.01, or shall, if it is unable to continue to so act [or is so instructed in writing by the Insurer (if no Insurer Default has occurred and is continuing) )] or the holders of 66-2/3% of the then Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing), appoint a successor to the Servicer in accordance with the provisions of Section 10.03 of the Assignment and Servicing Agreement.
Appears in 1 contract
Samples: Ikon Receivables Funding LLC
