Certain Guaranties. Each of the Indenture Trustee and the Master Servicer agrees that it (i) shall not treat any ledger account or deposit account as an "Eligible Account" by reason of a guaranty of the type described in clause (ii)(a) of the definition of "Eligible Account" in the Sale and Servicing Agreement unless Financial Security shall have previously approved in writing the form of such guaranty and (ii) shall not treat any investment as an "Eligible Investment" by reason of a guaranty of the type described in clause (iii)(b) or clause (vii) of the definition of "Eligible Investments" in the Sale and Servicing Agreement unless Financial Security shall have previously approved in writing the form of such guaranty.
Appears in 18 contracts
Samples: Insurance, Indemnity and Pledge Agreement (WFS Receivables Corp), Insurance, Indemnity and Pledge Agreement (WFS Financial Auto Loans Inc), Insurance, Indemnity and Pledge Agreement (WFS Financial Auto Loans Inc)