The Subservicer. The parties acknowledge that the Servicer intends to appoint the Subservicer as the Servicer's agent for the purpose of servicing on the Servicer's behalf such of the Mortgage Loans as were originated in the State of New Jersey. The Servicer agrees to cause the Subservicer to service such Mortgage Loans in a manner consistent with the Accepted Servicing Practices set forth in this Agreement, and agrees that receipt by the Subservicer of any and all amounts which by the terms hereof are required to be deposited in the Collection Account shall constitute receipt thereof by the Servicer for all purposes hereof as of the date so received by the Subservicer. Notwithstanding such designation of the Subservicer, the Servicer agrees that it is, and it shall remain, fully obligated under the terms hereof as Servicer with respect to all such Mortgage Loans, and nothing herein shall relieve or release the Servicer from its obligations to the other parties hereto to service such Mortgage Loans in the manner provided in this Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (American Business Financial Services Inc /De/)
