Common use of Standby Servicer Clause in Contracts

Standby Servicer. The Person selected by the Agent to act as standby servicer in accordance with the Standby Servicing Agreement. The current Standby Servicer is Concord Servicing Corporation. Standby Servicing Agreement. The Backup Servicing Agreement, dated as of May 9, 2001, among the Borrower, Concord Servicing Corporation, and the Agent, as amended by the First Amendment to Backup Servicing Agreement, dated as of April 30, 2002, among the Borrower, Concord Servicing Corporation, and the Agent, pursuant to which agreement the Standby Servicer shall provide servicing functions with respect to the Consumer Loan Collateral upon the occurrence of an Event of Default.

Standby Servicer. The Person selected by the Agent Required Banks to act as standby servicer in accordance with the Standby Servicing Agreement. The current Standby Servicer is Concord Servicing Corporation. Standby Servicing Agreement. The Backup Servicing Agreement, dated as of May 9, 2001, among the Borrower, Concord Servicing Corporation, and the Agent, as amended by the First Amendment to Backup Servicing Agreement, in form and substance satisfactory to the Required Banks, dated as of April 30, 2002on or prior to the Closing Date, among the Borrower, Concord Servicing Corporation, and the Agent, pursuant to which agreement agreement, as amended, the Standby Servicer shall provide servicing functions with respect to the Consumer Loan Collateral and the Ineligible Note Portfolio upon the occurrence of an Event of Default.