Common use of Standby Servicer Clause in Contracts

Standby Servicer. Borrower acknowledges and agrees that upon written notice from Lender, to be given at any time during the terms of the Inventory Loan, the Supplemental Loan and the Receivables Loan in Lender's sole and absolute discretion, the Servicing Agent shall be replaced by the Standby Servicer, or such other servicing entity as may be selected by Lender in its sole and absolute discretion, for the purpose of servicing all Notes Receivable comprising the Collateral.

Standby Servicer. Borrower acknowledges and agrees that upon written notice from Lender, to be given at any time during the terms term of the Inventory Loan, the Supplemental Loan and the Receivables Loan in Lender's sole and absolute discretion, the Servicing Agent Lender shall be replaced by the Standby Servicer, or such other servicing entity as may be selected by Lender in its sole and absolute discretion, for the purpose of servicing all Notes Receivable comprising the Collateral."