Common use of Servicer Covenants Clause in Contracts

Servicer Covenants. (a) On or before July 31, 2003 the Servicer shall, and shall cause each of its Affiliates that acts as a sub-servicer to, install, test and fully implement, to the reasonable satisfaction of the Agent, any and all system modifications, upgrades or additions that may be necessary to permit the Servicer and each sub-servicer to track and report (in a manner acceptable to the Agent) on a Receivable-by-Receivable basis all short payments by Obligors of Receivables. (b) The Servicer shall maintain, and shall cause each Originator and Servicer Party to maintain, all indebtedness and other obligations owed to Borrower or any Originator that, on the Creation Date, are reported on the "Commercial Management System" (excluding Districts 338, 418, 777, 1251, 1625, 1626, 1639, 1726 and 1793) of any Originator or any Servicer Party, on such "Commercial Management System" (excluding Districts 338, 418, 777, 1251, 1625, 1626, 1639, 1726 and 1793) at all times from and after such Creation Date until such time as such indebtedness or other obligations are no longer subject to the terms of this Agreement. (c) At any time that any Receivables becomes subject to any dispute by the Obligor thereof, such Receivable shall be removed from the Borrowing Base and the Borrowing Base recalculated immediately upon a Servicer Party becoming aware of such dispute and the Servicer agrees to maintain such internal processes as are commercially reasonable to enable it to provide itself with such awareness. (d) The Servicer agrees to calculate and report to the Originators, Borrower and the Agent, the Discount Factor (as defined in the Receivables Sale Agreement) as required by the definition thereof in the Receivable Sale Agreement.