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Backup Servicing Agreement

 

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Title:

Backup Servicing Agreement

Entities:

CNH Capital Receivables Inc; CNH Global NV; JPMorgan Chase Bank; Bank of America, NA

Date:

2006

Size:

79KB total

Price:

$49

ID:

#2531270

 

 

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BACKUP SERVICING AGREEMENT


among


CNH CAPITAL RECEIVABLES LLC,
as Seller


NEW HOLLAND CREDIT COMPANY, LLC,
as Servicer


CNH EQUIPMENT TRUST 2006-B,
as Issuing Entity


and


SYSTEMS & SERVICES TECHNOLOGIES, INC.
as Backup Servicer


Dated as of September 1, 2006





TABLE OF CONTENTS
(continued)

 

Page

ARTICLE I

DEFINITIONS

1

SECTION 1.1

Definitions

1

SECTION 1.2

Usage of Terms

3

SECTION 1.3

Section References

3

ARTICLE II

ADMINISTRATION AND SERVICING OF RECEIVABLES

3

SECTION 2.1

Duties of the Backup Servicer

3

SECTION 2.2

Representations and Warranties of Backup Servicer

4

SECTION 2.3

Backup Servicing Termination

5

SECTION 2.4

Backup Servicer Fees; Payment of Expenses by Backup Servicer

6

ARTICLE III

THE BACKUP SERVICER

6

SECTION 3.1

Liability of Backup Servicer; Indemnities

6

SECTION 3.2

Limitation on Liability

8

SECTION 3.3

Corporate Existence

8

SECTION 3.4

Insurance

8

SECTION 3.5

Compliance with Laws

8

SECTION 3.6

Backup Servicer Legal Proceedings

9

ARTICLE IV

TERMINATION EVENTS

9

SECTION 4.1

Termination Event

9

SECTION 4.2

Consequences of a Termination Event

10

ARTICLE V

MISCELLANEOUS PROVISIONS

10

SECTION 5.1

Waiver; Amendment

10

SECTION 5.2

Governing Law

11

SECTION 5.3

Severability of Provisions

11

SECTION 5.4

Assignment

11

SECTION 5.5

Third-Party Beneficiaries

11

SECTION 5.6

Counterparts

11

SECTION 5.7

Notices

11

SECTION 5.8

Nonpetition Covenants

12

SECTION 5.9

Term

12

SECTION 5.10

Limitation of Liability of Trustee

12

SECTION 5.11

Miscellaneous

12

SECTION 5.12

Confidentiality

12

SECTION 5.13

Information Requests

13

SECTION 5.14

Notice to Moodys

13

 

i




 

EXHIBITS

 

 

 

EXHIBIT A

Sale and Servicing Agreement

 

 

 

 

SCHEDULES

 

 

 

SCHEDULE I

Description of Verification and Confirmation Duties (Backup Servicing)

 

 

ii




THIS BACKUP SERVICING AGREEMENT, dated as of September 1, 2006, (this Agreement) is made among NEW HOLLAND CREDIT COMPANY, LLC, a Delaware limited liability company (the Servicer), CNH CAPITAL RECEIVABLES LLC, a Delaware limited liability company (the Seller), CNH EQUIPMENT TRUST 2006-B, a Delaware statutory trust (the Issuing Entity), SYSTEMS & SERVICES TECHNOLOGIES, INC., a Delaware corporation (the Backup Servicer or SST).

WITNESSETH:

WHEREAS, the Servicer, the Seller and the Issuing Entity have entered into the Sale and Servicing Agreement dated as of the date hereof (the Sale and Servicing Agreement) a copy of which is attached hereto and made a part hereof as Exhibit A;

WHEREAS, the Issuing Entity and the Servicer desire that the Backup Servicer perform certain backup servicing duties in accordance with the terms and provisions of this Agreement;

WHEREAS, the Issuing Entity desires that the Backup Servicer assume the role of Successor Servicer under the terms of the Sale and Servicing Agreement in the event that the Servicer is terminated thereunder; and

WHEREAS, the Backup Servicer is willing to perform the backup servicing duties specified herein and assume the role of Successor Servicer under the terms of the Sale and Servicing Agreement pursuant to the conditions and for the consideration described herein.

NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

ARTICLE I
DEFINITIONS

SECTION 1.1                          Definitions.  Unless otherwise specified herein, all terms defined in the Indenture, shall have the same meaning in this Agreement.  Whenever capitalized and used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:


 

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