Common use of Appointment of Custodian; Acknowledgment of Receipt Clause in Contracts

Appointment of Custodian; Acknowledgment of Receipt. Subject to the terms and conditions hereof, ACOLT hereby appoints Ally Financial as the Custodian, and Ally Financial hereby accepts such appointment, to act as agent of ACOLT, to maintain custody of the following documents or instruments which shall be constructively delivered to ACOLT with respect to each Lease Asset:

Appears in 9 contracts

Samples: Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC)

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Appointment of Custodian; Acknowledgment of Receipt. Subject to the terms and conditions hereof, ACOLT AFLT hereby appoints Ally Financial as the Custodian, and Ally Financial hereby accepts such appointment, to act as agent of ACOLTAFLT, to maintain custody of the following documents or instruments which shall be constructively delivered to ACOLT AFLT with respect to each Lease Asset:

Appears in 1 contract

Samples: Servicing Agreement (Capital Auto Receivables LLC)

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