Examples of Underlying Servicer in a sentence
If the Portfolio Asset Servicer does not receive from the related Underlying Servicer, Counterparty Lender or Obligor the payments to be paid to Borrower or the Portfolio Asset Servicer as Collections on the date when such payments are scheduled to be made (to the extent the Portfolio Asset Servicer has received such payment information from the Underlying Servicer), the Portfolio Asset Servicer shall promptly notify Borrower and such Underlying Servicer, Counterparty Lender or Obligor.
The Borrower (and the Portfolio Asset Servicer on its behalf) shall not make any change in its instructions to the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent, Underlying Servicer or issuer of any Portfolio Asset, as applicable, regarding payments to be made with respect to the related Portfolio Asset to the Collection Account, as applicable, unless the Majority Lenders have directed, or otherwise has consented in writing to, such change.
The Collection Account is the only account to which the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent, Underlying Servicer or issuer of any Portfolio Asset have been instructed by the Borrower or the Portfolio Asset Servicer on Borrower’s behalf, to send Collections with respect to the Portfolio Assets.
Any Affected Party making a claim under this section shall submit to the Underlying Servicer a written description as to such additional or increased cost or reduction and the calculation thereof, which written description shall be conclusive absent demonstrable error.
Funds on deposit in the Collection Account shall be invested in Eligible Investments by or at the written direction of the Underlying Servicer, on behalf of the Borrower, provided that if an Amortization Event or Unmatured Amortization Event shall have occurred, such investments shall be made as directed by the Collateral Agent.
The Underlying Servicer shall deliver to the Deal Agent file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing.
The covenants and agreements of the Underlying Servicer set forth in the Underlying Transaction Documents are hereby incorporated by reference mutatis mutandis for the benefit of each the Collateral Agent, the Deal Agent and the Secured Parties and such covenants may be relied upon by each such Person.
A certificate signed by any officer of the Borrower or the Underlying Servicer, as the case may be, and delivered to the Collateral Agent.
Additionally, all information, financial statements, documents, book record, certificate report or other document furnished by the Underlying Servicer, or on its behalf, to the Deal Agent, Collateral Agent or any Lender for purposes of or in connection with this Agreement or any other Transaction Document, or any transaction contemplated hereby or thereby, will be true, correct, complete and accurate in every material respect, on the date such information is stated or certified.
The Sale and Servicing Agreement, among the Underlying Issuer, the Underlying Depositor, the Underlying Indenture Trustee and the Underlying Servicer, pursuant to which the underlying receivables are serviced, as the same may be amended, modified or supplemented in accordance with the terms thereof.