Appointment; Duties of the Collateral Custodian. (a) The Grantor Trust hereby appoints Xxxxx Fargo Bank, National Association, to act solely on behalf of the Indenture Trustee and the Secured Parties as collateral custodian hereunder. Xxxxx Fargo Bank, National Association hereby accepts its appointment as Collateral Custodian hereunder, acknowledges that it is bound by the terms and conditions of this Agreement and agrees that it shall hold all Receivable Files Delivered to it or otherwise in its possession pursuant to this Agreement for the benefit of the Indenture Trustee under the terms of this Agreement. The Collateral Custodian hereby agrees not to assert (in its individual capacity or otherwise) any Liens or claims of any kind with respect to the Receivable Files held by it or the related Receivables or any other Collateral and hereby releases and waives any such Liens and claims.
Appointment; Duties of the Collateral Custodian. The Administrative Agent, each Lender and the Borrower, at the direction of and on behalf of the Administrative Agent, hereby appoint Xxxxx Fargo Bank to act on their behalf as Collateral Custodian hereunder, and Xxxxx Fargo Bank hereby accepts such appointment. The Collateral Custodian shall perform such duties and only such duties as are specifically set forth in this Agreement.
Appointment; Duties of the Collateral Custodian
