Successor Backup Servicer definition

Successor Backup Servicer has the meaning specified in Section 2.4(b).
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Successor Backup Servicer shall have the meaning given to such term in Section 8.10(a).
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Successor Backup Servicer has the meaning given to such term in Section 5.25(a).
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Examples of Successor Backup Servicer in a sentence

  • In the event that a Successor Backup Servicer is appointed, the outgoing Backup Servicer shall deliver to the Successor Backup Servicer and the Successor Backup Servicer shall hold in trust for the Trust Collateral Agent all records which evidence or relate to all or any part of the Trust Estate.

  • Such backup servicing agreement shall specify the duties and obligations of the Successor Backup Servicer, and all references herein and in the Sale and Servicing Agreement to the Backup Servicer shall be deemed to refer to such Successor Backup Servicer.

  • None of the Backup Servicer, the Indenture Trustee, the Issuing Entity, the Administrator, the Trustee or any other Successor Backup Servicer shall be deemed to be liable for or in breach of any obligations hereunder due to any act or omission of a predecessor Backup Servicer.

  • The Successor Backup Servicer shall be the successor in all respects to the predecessor Backup Servicer (except with respect to responsibilities and obligations of the predecessor Backup Servicer set forth in Section 3.1) and shall be subject to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on the predecessor Backup Servicer and shall be entitled to the Backup Servicing Fee and all the rights granted to the predecessor Backup Servicer by this Agreement.

  • Provided that the Successor Backup Servicer has executed a written assumption instrument acceptable to the Issuing Entity, the Successor Backup Servicer shall become the Backup Servicer hereunder effective on the date specified in such assumption instrument, which shall be a date not later than the day the predecessor Backup Servicer ceases to perform as Backup Servicer hereunder.

  • Such backup servicing agreement shall specify the duties and obligations of the Successor Backup Servicer, and all references herein and in the Loan Agreement to the Backup Servicer shall be deemed to refer to such Successor Backup Servicer.

  • In the event that a Successor Backup Servicer is appointed, the outgoing Backup Servicer shall deliver to the Successor Backup Servicer and the Successor Backup Servicer shall hold in trust for the Collateral Agent all records which evidence or relate to all or any part of the Collateral.

  • As compensation therefor, the Successor Backup Servicer shall be entitled to receive reasonable compensation equal to the monthly Backup Servicing Fee.

  • If a successor Backup Servicer has not accepted appointment as the Successor Backup Servicer pursuant to Section 2.3(c) by the last day of such 120 day period, this Agreement shall terminate on the last day of such period.

  • Notwithstanding anything else herein to the contrary, in no event shall the Indenture Trustee or the Servicer be liable for any Backup Servicing Fee or for any differential in the amount of the backup servicing fee paid hereunder and the amount necessary to induce any Successor Backup Servicer to act as Backup Servicer under this Agreement and the transactions set forth or provided for herein.


More Definitions of Successor Backup Servicer

Successor Backup Servicer has the meaning specified in Section 2.4(b). “Third Party” has the meaning specified in Section 2.9(d).
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Successor Backup Servicer has the meaning given to such term in Section 8.10. ------------------------- -------------
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Successor Backup Servicer has the meaning specified in Section 0.
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Related to Successor Backup Servicer

  • Backup Servicer means Wxxxx Fargo Bank, National Association, in its capacity as Backup Servicer under this Agreement.

  • Successor Master Servicer The meaning ascribed to such term pursuant to Section 8.02.

  • Successor Servicer has the meaning specified in Section 3.07(e) of the Indenture.

  • Backup Servicer Fee means the fee to be paid to the Backup Servicer as set forth in the Backup Servicing Agreement.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Backup Servicing Agreement means the Backup Servicing Agreement dated as of the Closing Date, among the Backup Servicer, Credit Acceptance, the Seller, the Issuer and the Trust Collateral Agent.

  • Back-Up Servicer means Xxxxx Fargo Bank, National Association and its permitted successors and assigns, as provided in the Indenture.

  • Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Portfolio Administrator means any entity and any successor or replacement thereto, as specified in the Final Terms for each Series of ETP Securities, appointed as Portfolio Administrator in accordance with the terms of the relevant Portfolio Administration Agreement.

  • Backup Servicer Termination Notice has the meaning given to such term in Section 8.04.

  • Successor Delaware Trustee has the meaning set forth in Section 4.5(e).

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Depositor means Advisors Asset Management, Inc. and its successors in interest, or any successor depositor appointed as hereinafter provided."

  • Owner Trustee means Wilmington Trust Company, a Delaware trust company, not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder.

  • Non-Lead Master Servicer means the “master servicer” under any Non-Lead Securitization Servicing Agreement.

  • Special Servicer means the applicable special servicer with respect to the Mortgage Loan appointed as provided in the Lead Securitization Servicing Agreement.

  • Other Special Servicer The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.

  • Servicing Agent means, with respect to an eNote, the field entitled, “Servicing Agent” in the MERS eRegistry.

  • Certificate Administrator means the certificate administrator appointed as provided in the Lead Securitization Servicing Agreement.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Primary Servicer Prudential Asset Resources, Inc., or any successor thereto (as primary servicer) appointed as provided in the Primary Servicing Agreement.

  • Other Servicer The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.