Servicing Duties Clause Samples

Servicing Duties. Servicer shall provide and perform the Services in full compliance with: the terms of this Agreement and the Servicing Guidelines. The Lender Participant shall be responsible for the legal compliance of the content of the Program Guidelines, Credit Agreements, privacy policies and disclosures and notices required by state law.

Servicing Duties. (a) On or before the Closing Date, the Backup Servicer and the Trustee will enter into the Aegis Finance Servicing Agreement with Aegis Finance pursuant to which Aegis Finance shall act as Servicer with respect to the Receivables. Any Servicer shall be, and shall remain, for so long as it is acting as Servicer, an Eligible Servicer. The Backup Servicer shall review each Monthly Servicing Certificate required to be provided by the Servicer pursuant to paragraph III.B.6 of the Servicing Agreement and shall notify the Trustee and each Certificateholder of any discrepancy in such Monthly Servicing Certificate which cannot be corrected in accordance with paragraph III.B.6 of the Servicing Agreement. (b) In the event of termination of the rights and obligations of the Servicer under the Servicing Agreement, the Backup Servicer shall, in accordance with paragraph VI of the Servicing Agreement, act as Servicer of the Receivables by assuming such rights and obligations under the Servicing Agreement unless a successor Servicer, other than the Backup Servicer, is appointed by the Trustee under the Servicing Agreement; provided, however, that the Backup Servicer shall not be liable for any acts, omissions or obligations of the Servicer prior to such succession or for any breach by the Servicer of any of its representations and warranties contained in the Servicing Agreement or in any related document or agreement. (c) Any Servicing Agreement that may be entered into and any other transactions or servicing arrangements relating to the Receivables and the other Trust Property involving a Servicer in its capacity as such shall be deemed to be for the benefit of the Trust, the Trustee and the Certificateholders. (d) Other than the duties specifically set forth in this Agreement and the Servicing Agreement, the Backup Servicer shall have no obligation hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and the Servicing Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Servicing Duties. WOFC shall provide the following services with respect to the Accounts. a. Upon the receipt of a completed Loan File from the Company, WOFC shall cause to be maintained for each Account automated information including, but not limited to, (i) name and address of the Borrower, (ii) principal balance plus earned interest or the balance of monthly payments due, as well as any other accrued charges of the Account, (iii) the loan number, (iv) a description of the Collateral, (v) the monthly payment, (vi) the residual value of the motor vehicle for Loan Files involving closed end lease agreements, (vii) the current payment status of the Account, (viii) each Account with respect to which WOFC has not received a Certificate of Title for the Collateral Financed thereby in the name of or with a first lien in favor of Company, and (ix) proof of insurance as to Lease Accounts only, and (x) such other information concerning such Accounts as Company may reasonably request and which is available to WOFC at no additional cost or expense. b. After the receipt of the Loan File, WOFC shall mail to each Borrower a monthly billing statement in the forms attached to this Agreement as Exhibit C and Exhibit D for any Account involving the sale or lease of a motor vehicle to the Borrower. c. WOFC shall maintain records for each Account, which records shall include the original principal balance, the amount of each payment applied to the Account, the date of each payment, the interest or lease rate, and the current outstanding principal balance. WOFC's obligation to perform its servicing duties and maintain accurate records hereunder is limited to the accuracy and availability of the information WOFC receives from time to time from the Company. d. WOFC shall provide to the Company on or before the 10th day of each month detailed reports by investor number including, but not limited to, the legal status of each Account, the accounting status of each Account, and the delinquency status of each Account. WOFC shall provide to the Company on or before the 10th day of each month summary level reports of the above information by investor and total Company portfolios. Said reports shall be presumed correct and accurate unless the Company delivers to WOFC by registered or certified mail, written objection thereto specifying the error contained in the reports. In such event, the Company's sole and exclusive remedy and WOFC's only liability shall be to make appropriate adjustments in the repo...

Servicing Duties. Of The Lender This section contains the basic rules governing the servicing of mortgages that we purchase, or in which we purchase a participation interest. The servicing duties of the Lender are:

Servicing Duties. Borrower agrees to provide servicing and management of the Portfolio at all times on and after the Effective Date and continuing through the Servicing Termination Date, in all cases subject to the terms of this Agreement. Such services include, without limitation, (i) possessing, keeping and maintaining Books, (ii) receiving, processing, accounting for and delivering all Collections to the Collection Account until the Servicing Termination Date, (iii) monitoring and pursuing payments under the Premium Finance Documents, (iv) monitoring and managing all Premium Finance Collateral, (v) subject to Section 7, non-judicial and judicial enforcement, liquidation and collection of the Premium Finance Documents, including engagement of attorneys or other professionals for such purpose, and (vi) taking all lawful actions and procedures as reasonably required to comply with Borrower’s obligations under the Premium Finance Documents, maximize the value of the Portfolio and collect the Premium Finance Documents and Premium Finance Collateral included therein.

Servicing Duties. (a) The Borrower shall manage, service, administer and make collections on the Transferred Contracts and perform the other actions required by the Borrower under the terms and provisions of this Agreement. The Borrower may execute any of its duties under this Article VII by or through its subsidiaries, affiliates, agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent consents to the Borrower subcontracting with ▇▇▇▇▇▇▇▇▇ Capital Services Holdings LP to provide such services with respect to the Transferred Contracts. (b) The Borrower shall take or cause to be taken all such actions as may be reasonably necessary or advisable to attempt to collect the Contract Payments from time to time, (i) all in accordance with (1) Applicable Laws and (2) the applicable Transferred Contract, (ii) with reasonable care and diligence using that degree of skill and attention that a similarly-situated prudent person engaging in such activities would exercise, (iii) without limitation to its obligations under the preceding clauses (i) and (ii) and with no less care than the Borrower exercises with respect to all comparable Contracts that it services for itself and others. (c) The Borrower shall administer the Collections in respect of the Contract Payments in accordance with the procedures described herein. The Borrower shall promptly (but in no case later than one (1) Business Day after its receipt thereof) deposit all Collections received directly by it into the Collection Account. (d) Except as otherwise permitted in this Agreement, the Borrower shall not extend, amend, forgive, discharge, compromise, waive or cancel the terms of any Contract Payment or amend, modify or waive any term or condition of any Contract related thereto, except with written consent of the Administrative Agent. Except as in accordance with this Agreement of the Credit and Collection Policy, the Borrower shall not extend, amend or otherwise modify the terms of any Contract Payment or amend or modify any term or condition of any Contract related thereto, except with the written consent of the Administrative Agent. (e) The Borrower shall hold in trust for the Secured Parties all Records that evidence or relate to the Contract Payments not previously delivered to the Custodian and shall, as soon as practicable upon demand of the Administrative Agent, make available, or, upon the occurrence and during the continuat...

Servicing Duties. Without limiting the generality of the authority granted by the appointment of the Servicer, and subject to the other provisions hereof, the Servicer is hereby authorised and empowered by the Guarantor to take any and all reasonable steps in its name and on its behalf that are necessary or desirable and not inconsistent with the sale, transfer and assignment of the Loans and the Related Security to the Guarantor, except that the Servicer may not notify any Person of the Guarantor’s interest therein until the Seller is required to do so in accordance with Section 3.5(1) of the Mortgage Sale Agreement or until the occurrence of a Registered Title Event or pursuant to Section 3.1(c) to collect all amounts due under any and all Loans, including executing and delivering, on behalf of the Guarantor and any subsequent assignees, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to the Loans and their Related Security and, after delinquency of any such Loans and to the extent permitted under and in compliance with applicable Law, to commence proceedings with respect to enforcing payment of such Loans and their Related Security, and adjusting, settling or compromising the account or payment thereof, in accordance with the Servicing Standard. The Guarantor will furnish the Servicer with any powers of attorney and other documents that are within the ability of the Guarantor to furnish and which are reasonably necessary or appropriate to enable it to carry out its servicing and administrative duties hereunder as agent of the Guarantor.

Servicing Duties. 2.1 Until the termination of the Servicer pursuant to Section 11.1, the Loans included in the Portfolio shall be administered, serviced and collected by the Seller, as Servicer. The Seller hereby agrees to perform the duties and obligations of the Servicer pursuant to the terms hereof at no additional cost to the Guarantor, in consideration of the consideration paid for the Loans and the Related Security pursuant to the Mortgage Sale Agreement. Subject to the provisions hereof, the Servicer shall administer, service and collect the Loans and their Related Security as agent for the Guarantor until the date of termination of this Agreement in accordance with the provisions of this Agreement. The Bond Trustee consents to the appointment of the Servicer on the terms and subject to the conditions of this Agreement. 2.2 The Servicer, as agent for the Guarantor (to the extent provided herein), shall perform its duties hereunder with reasonable care and diligence, using that degree of skill and attention that the Servicer exercises in managing, servicing, administering, collecting on and performing similar functions relating to comparable loans that it services for itself or other Persons and in accordance with the Credit and Collection Policy.

Servicing Duties. 16- SECTION 6.02. ADMINISTRATIVE DUTIES........................................................-16- ARTICLE VII