Common use of Authorization of Servicer Clause in Contracts

Authorization of Servicer. Servicer is hereby authorized to take any and all reasonable steps necessary or desirable and consistent with the ownership of the Transferred Receivables by Owner and the pledge of all or partial direct or indirect interest in the Transferred Receivables to the Creditors or their representatives in the determination of Servicer, to (a) collect all amounts due under the Transferred Receivables, including endorsing its name on checks and other instruments representing Collections on the Transferred Receivables, and executing and delivering any and all instruments of satisfaction or cancellation or of partial or full release or discharge and all other comparable instruments with respect to the Transferred Receivables and (b) after the Transferred Receivables become delinquent and to the extent permitted under and in compliance with applicable law and regulations, (i) commence proceedings with respect to the enforcement of payment of the Transferred Receivables, (ii) adjust, settle or compromise any payments due thereunder, and (iii) initiate proceedings against any collateral securing the obligations due under the Transferred Receivables, in each case, consistent with the Credit and Collection Policies, (c) to make withdrawals from either Collection Account and any Series Account, as set forth in this Agreement, the Funding Agreement, the Indenture or any Indenture Supplement, and (d) to take any action required or permitted under any enhancement for any Series or class of Notes, as set forth in this Agreement, the Indenture or any Indenture Supplement. Owner shall furnish (or cause to be furnished) Servicer with any powers of attorney and other documents necessary or appropriate to enable Servicer to carry out its servicing and administrative duties hereunder, and Owner shall assist Servicer to the fullest extent to enable Servicer to collect the Transferred Receivables and otherwise discharge its duties hereunder.

Authorization of Servicer. Servicer is hereby authorized to take any and all reasonable steps necessary or desirable and consistent with the ownership of the Transferred Receivables Interests by Issuer and the Retained Interests by the Retained Interest Owner and the pledge of all or partial direct or indirect interest in the Transferred Receivables Interests to the Creditors holders of the Notes or their representatives in the determination of Servicer, to (a) collect all amounts due under the Transferred Underlying Receivables, including endorsing its name on checks and other instruments representing Collections on the Transferred Underlying Receivables, and executing and delivering any and all instruments of satisfaction or cancellation or of partial or full release or discharge and all other comparable instruments with respect to the Transferred Underlying Receivables and (b) after the Transferred Underlying Receivables become delinquent and to the extent permitted under and in compliance with applicable law and regulations, (i) commence proceedings with respect to the enforcement of payment of the Transferred Underlying Receivables, (ii) adjust, settle or compromise any payments due thereunder, and (iii) initiate proceedings against any collateral securing the obligations due under the Transferred Underlying Receivables, in each case, consistent with the Credit and Collection Policies, (c) to make withdrawals from either the Collection Account, the Retained Interest Account and any Series Account, as set forth in this Agreement, the Funding Agreement, the Indenture or any Indenture Supplement, and (d) to take any action required or permitted under any enhancement for any Series or class of Notes, as set forth in this Agreement, the Indenture or any Indenture SupplementSupplement and (e) to deliver “Instructions” and other directions as to the investment of funds credited to the Collection Account and the Series Accounts on behalf of Issuer in accordance with Section 2.2(e). Each of the Issuer and the Retained Interest Owner shall furnish (or cause to be furnished) to Servicer with any powers of attorney and other documents necessary or appropriate to enable Servicer to carry out its servicing and administrative duties hereunder, and each of Issuer and the Retained Interest Owner shall assist Servicer to the fullest extent to enable Servicer to collect the Transferred Underlying Receivables and otherwise discharge its duties hereunder.