Appointment of Subadministrator Clause Samples
The Appointment of Subadministrator clause authorizes a primary administrator to delegate certain administrative duties to a subadministrator. In practice, this means the main administrator can formally appoint another individual or entity to handle specific tasks, such as managing assets or overseeing distributions, under the terms of the agreement. This clause ensures continuity and efficiency in administration, particularly if the primary administrator is unable to fulfill all responsibilities, thereby reducing the risk of delays or mismanagement.
Appointment of Subadministrator. The Administrator may at any time appoint a subadministrator to perform all or any portion of its obligations as Administrator hereunder; provided, however, that any applicable Rating Agency Condition shall have been satisfied in connection therewith; provided, further, that the Administrator shall remain obligated and be liable to the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee and the Noteholders for administering the Issuer in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subadministrator and to the same extent and under the same terms and conditions as if the Administrator alone were administering the Issuer. The fees and expenses of the subadministrator shall be as agreed between the Administrator and its subadministrator from time to time and none of the Issuer, the Owner Trustee, the Indenture Administrator, the Indenture Trustee or the Noteholders shall have any responsibility therefor. With respect to satisfying the Rating Agency Condition referred to above, the term "subadministrator" shall be deemed not to include systems providers, systems developers or systems maintenance contractors, collection agencies, credit bureaus, lock box providers, mail service providers and other similar types of service providers.
Appointment of Subadministrator. The Corporation hereby appoints the Subadministrator to administer the affairs of the Funds subject to the supervision and oversight of the Board of Directors and the officers of the Corporation, for the period and on the terms hereinafter set forth. The Subadministrator hereby accepts such appointment and agrees during such period to render the services or provide for the provision of such services and to assume the obligations herein set forth for the compensation herein provided.
Appointment of Subadministrator. IronBridge hereby retains and appoints the Subadministrator to administer the affairs of the Funds, subject to the supervision and oversight of IronBridge and the Board of Directors and the officers of the Corporation, for the period and on the terms hereinafter set forth. The Subadministrator hereby accepts such appointment and agrees during such period to render the services or provide for the provision of such services and to assume the obligations herein set forth for the compensation herein provided.
Appointment of Subadministrator. Administrator's Certificate; Servicer's Report............
Appointment of Subadministrator. Lockwell hereby retains and appoints the Subadministrator to administer the affairs of the Funds, subject to the supervision and oversight of the Board of Directors and the officers of the Corporation, for the period and on the terms hereinafter set forth. The Subadministrator hereby accepts such appointment and agrees during such period to render the services or provide for the provision of such services and to assume the obligations herein set forth for the compensation herein provided.