Designation of the Servicer. (a) The servicing, administration and collection of the Receivables shall be conducted by the Servicer designated from time to time in accordance with this Section. Xxxxxx Xxxxxxxx is hereby designated as, and xxxxxx agrees to perform the duties and obligations of, the Servicer pursuant to the terms of this Agreement. At any time after the occurrence and during the continuance of a Servicer Termination Event, the Administrative Agent and the Lenders may at any time designate any Person to succeed Xxxxxx Xxxxxxxx as successor servicer.
(b) Xxxxxx Xxxxxxxx may delegate to Seller or its Subsidiaries, as sub‑servicers of the Servicer, certain of its duties and responsibilities as the Servicer hereunder in respect of the Receivables originated by Seller. Without the prior written consent of the Lenders, the Servicer shall not be permitted to delegate any of its duties or responsibilities as the Servicer to any Person other than (i) Seller or its Subsidiaries, (ii) with respect to certain Charged‑Off Receivables, outside collection agencies in accordance with its customary practices, or (iii) in the ordinary course of business consistent with its current customary practices in effect as of the date hereof. Neither Seller nor its Subsidiaries shall be permitted to further delegate to any other Person any of the duties or responsibilities of the Servicer delegated to it by Xxxxxx Xxxxxxxx. If at any time the Lenders shall designate as the Servicer any Person other than Xxxxxx Xxxxxxxx in accordance with the terms hereof, all duties and responsibilities theretofore delegated by Xxxxxx Xxxxxxxx to Seller or any of its Subsidiaries may, at the discretion of the Administrative Agent or any of the Lenders, be terminated forthwith on notice given by the Administrative Agent or any Lender to Xxxxxx Xxxxxxxx, the Borrower and the Administrative Agent or the other Lenders, as applicable.
(c) Notwithstanding any delegation by the Servicer of its duties and responsibilities to a sub-servicer pursuant to subsection (b) above, for so long as it remains Servicer, (i) the Servicer shall be and remain primarily liable to the Administrative Agent and the Lenders for the full and prompt performance of all duties and responsibilities of the Servicer hereunder and (ii) the Administrative Agent and the Lenders shall be entitled to deal exclusively with the Servicer in matters relating to the discharge by the Servicer of its duties and responsibilities hereunder. The Administrative Age...
Designation of the Servicer. The servicing, administering and collection of the Collateral shall be conducted by the Person designated as a servicer in accordance with this Agreement, the Servicing Agreement or the Backup Servicing Agreement, as applicable. Borrower hereby acknowledges that each of the Secured Parties is a third-party beneficiary of the obligations taken by the Servicer and the Backup Servicer under the Servicing Agreement and the Backup Servicing Agreement, respectively.
Designation of the Servicer. The Trust hereby designates the Seller as the initial Servicer under this Agreement and by executing and delivering this Agreement, the Seller agrees to accept its designation as the Servicer until a Servicer Transfer, and hereby agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof, at no cost to the Trust. Subject to the provisions of this Agreement, the Servicer shall administer, service and collect the Pool Assets as agent for the Trust until the Final Termination Date and the Trust shall not terminate the Seller as Servicer except in accordance with Section 5.12. The Servicer may, in accordance with the terms of the Credit and Collection Policies, subcontract with any Person for the administration and collection of the Pool Receivables; provided however, that the Servicer shall remain liable for the performance of the duties and obligations so subcontracted and all other duties and obligations of the Servicer pursuant to the terms hereof.
Designation of the Servicer. The Borrower agrees not to designate any Person other than Jarden as the Servicer without the prior written consent of each of the Administrator.
Designation of the Servicer. (a) Compass as the Servicer. The servicing, administering, and collection of the Pool Receivables on behalf of the Borrower, the Administrative Agent, Group Agents, the Collateral Agent, and Lenders shall be conducted in accordance with this Agreement by the Person designated as the Servicer hereunder (the “Servicer”) from time to time in accordance with this Section 8.
01. Until the Collateral Agent (with the consent, or acting at the direction of, the Required Lenders) delivers to Compass and the Borrower a Successor Notice in accordance with Section 8.01(b), Compass is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer pursuant to the terms hereof. The Servicer shall receive a daily Servicing Fee in respect of the Receivable Pool, payable monthly in arrears for each Settlement Period on each subsequent Settlement Date, subject to the priorities of payments in Section 3.01(d), for the performance of its duties hereunder. The Borrower, the Administrative Agent, the Collateral Agent, Lenders, and Group Agents hereby acknowledge and agree to this appointment of the Servicer. 751499193.15 22727329 105 (b)
Designation of the Servicer. The servicing, administering and collection of the Receivables shall be conducted by the Person designated as the Servicer hereunder from time to time in accordance with this section. ALS is designated (and agrees to act) as the initial Servicer.
Designation of the Servicer. Consistent with the Transferee’s ownership of Medallion Loans and Related Assets, the Transferor agrees that the Transferee shall have the sole right to service, administer and collect Medallion Loans, to assign such right and to delegate such right to any other Person to the extent permitted under the Loan and Security Agreement. The Transferor hereby acknowledges that the Transferee has appointed the Transferor to be the Servicer with respect to Medallion Loans under the Servicing Agreement, and the Transferor, in its capacity as Servicer, has accepted such appointment. The Transferor shall deliver all Records to the Custodian, with copies to the Servicer, as agent for the Transferee, and the Custodian shall hold all such Records in trust for the Transferee in accordance with its interests.
Designation of the Servicer. (a) The servicing, administration and collection of the Receivables shall be conducted by such Person (the “Servicer”) so designated from time to time in accordance with this Section 6.1. KapStone Paper is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer pursuant to the terms of this Agreement. At any time after the occurrence and during the continuance of an Amortization Event resulting from an action or inaction of, or circumstance existing with respect to, the Servicer (each, a “Servicer Termination Event”), the Administrative Agent and the Purchasers may at any time, upon written notice to the current Servicer and the Seller, designate as the Servicer any Person to succeed KapStone Paper or any successor Servicer.
(b) KapStone Paper may delegate to the Originators, as sub-servicers of the Servicer (each such Originator, a “Sub-Servicer”), certain of its duties and responsibilities as the Servicer hereunder in respect of the Receivables originated by such Originators. Without the prior written consent of the Purchasers, the Servicer shall not be permitted to delegate any of its duties or responsibilities as the Servicer to any Person other than (i) the Originators, and (ii) with respect to certain Charged-Off Receivables, outside collection agencies in accordance with its customary practices. None of the Sub-Servicers shall be permitted to further delegate to any other Person any of the duties or responsibilities of the Servicer delegated to it by KapStone Paper. If at any time following the occurrence of a Servicer Termination Event, the Purchasers shall designate as the Servicer any Person other than KapStone Paper, all duties and responsibilities theretofore delegated by KapStone Paper to any of the Sub-Servicers shall automatically be terminated.
(c) Notwithstanding the foregoing subsection (b), (i) the Servicer shall be and remain primarily liable to the Administrative Agent and the Purchasers for the full and prompt performance of all duties and responsibilities of the Servicer hereunder in accordance with the terms hereof and (ii) the Administrative Agent and the Purchasers shall be entitled to deal exclusively with the Servicer in matters relating to the discharge by the Servicer of its duties and responsibilities hereunder. The Administrative Agent and the Purchasers shall not be required to give notice, demand or other communication to any Person other than the Servicer in order for communication t...
Designation of the Servicer. The servicing, administering, and collection of the Receivables shall be conducted by the Person designated as the
Designation of the Servicer. (a) ADT AS THE SERVICER. THE SERVICING, ADMINISTERING, AND COLLECTION OF THE POOL RECEIVABLES ON BEHALF OF THE SELLER, THE ADMINISTRATIVE AGENT, PURCHASER AGENTS, THE COLLATERAL AGENT, AND PURCHASERS SHALL BE CONDUCTED IN ACCORDANCE WITH THIS AGREEMENT BY THE PERSON DESIGNATED AS THE SERVICER HEREUNDER (THE “SERVICER”) FROM TIME TO TIME IN ACCORDANCE WITH THIS SECTION 8.1. UNTIL THE COLLATERAL AGENT (WITH THE CONSENT, OR ACTING AT THE DIRECTION OF, THE REQUIRED PURCHASERS) DELIVERS TO ADT AND THE SELLER A SUCCESSOR NOTICE IN ACCORDANCE WITH SECTION 8.1(B), ADT IS HEREBY DESIGNATED AS, AND HEREBY AGREES TO PERFORM THE DUTIES AND OBLIGATIONS OF, THE SERVICER PURSUANT TO THE TERMS HEREOF. THE SERVICER SHALL RECEIVE A DAILY SERVICING FEE IN RESPECT OF THE RECEIVABLE POOL, PAYABLE MONTHLY IN ARREARS FOR EACH SETTLEMENT PERIOD ON EACH SUBSEQUENT SETTLEMENT DATE, SUBJECT TO THE PRIORITIES OF PAYMENTS IN SECTION 3.1(D), FOR THE PERFORMANCE OF ITS DUTIES HEREUNDER. THE SELLER, THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, PURCHASERS, AND PURCHASER AGENTS HEREBY ACKNOWLEDGE AND AGREE TO THIS APPOINTMENT OF THE SERVICER.
