Capacity as Servicer Clause Samples
The 'Capacity as Servicer' clause defines the role and responsibilities of a party acting as the servicer in a contractual arrangement, typically in the context of managing financial assets or loan portfolios. This clause clarifies that the servicer acts on behalf of another party, such as a lender or investor, and outlines the scope of their authority, duties, and any limitations. For example, it may specify that the servicer is not acting as an agent or fiduciary except as expressly stated, and detail the types of actions the servicer is permitted to take. The core function of this clause is to establish clear boundaries and expectations for the servicer’s role, thereby reducing the risk of misunderstandings or disputes regarding their capacity and obligations.
Capacity as Servicer. The Servicer will ensure that, at all times when it is dealing with or in connection with the Loan Assets in its capacity as Servicer, it holds itself out as Servicer, and not in any other capacity.
Capacity as Servicer. The Servicer will, to the extent necessary, maintain separate records on behalf of and for the benefit of the Lender, will act in accordance with instructions and directions, delivered in accordance with the terms hereof, from the Borrower and/or the Lender in connection with its servicing of the Medallion Loans hereunder, and will ensure that, at all times when it is dealing with or in connection with the Medallion Loans in its capacity as Servicer, it holds itself out as Servicer, and not in any other capacity.