Examples of Successor Administrator in a sentence
In case the Indenture Trustee shall become successor to the Servicer or the Administrator, the Indenture Trustee shall be entitled to appoint as Servicer or as Administrator, as the case may be, any one of its Affiliates, provided that such appointment shall not affect or alter in any way the liability of the Indenture Trustee as Successor Servicer or Successor Administrator, respectively, in accordance with the terms hereof.
Upon delivery of any such notice to the Issuer, the Issuer shall obtain a new servicer as the Successor Servicer under the Servicing Agreement or a new administrator as the Successor Administrator under the Administration Agreement, as the case may be.
In the event that a Successor Servicer or Successor Administrator has not been appointed and accepted its appointment at the time when the Servicer or Administrator, as the case may be, ceases to act as Servicer or Administrator, respectively, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer or Successor Administrator, as the case may be.
As soon as a Successor Servicer or a Successor Administrator is appointed, the Issuer shall notify the Indenture Trustee and each Rating Agency then rating the Notes of such appointment, specifying in such notice the name and address of such Successor Servicer or such Successor Administrator.
Xxxxxxxx Title: Authorized Signatory GE CAPITAL US HOLDINGS, INC., as Successor Administrator By: /s/ Txxxxx X.
The Successor Administrator hereby represents and warrants to the Resigning Administrator and to the Issuer that this Agreement has been duly authorized, executed and delivered on behalf of the Successor Administrator and constitutes its legal, valid and binding obligation.
The Issuer hereby appoints the Successor Administrator as Administrator under the Administration Agreement, effective as of the Effective Time, and confirms to the Successor Administrator all the rights, responsibilities, duties and liabilities of the Administrator under the Administration Agreement.
No such resignation shall become effective until the Trustee or a Successor Administrator shall have assumed the responsibilities and obligations of the Administrator under this Agreement.
If the Administrator fails to perform its duties, the Grantor shall have the right to appoint a Successor Administrator, and if the Grantor fails to appoint a Successor Administrator then the Trustee shall have the right to appoint a Successor Administrator.
In the event that Grantor is no longer acting as Administrator, any Successor Administrator appointed pursuant to Section 8.3 shall deliver or make available to Grantor each report required to be prepared, forwarded or delivered thereafter pursuant to Section 3.3.