Characterization of Accounts. The Lease Funding Account and each Exchange Note Account will be a “securities account” (a “Securities Account”) within the meaning of Section 8-501 of the Uniform Commercial Code of the State of New York (the “New York UCC”). The Company Account will be a “deposit account” (a “Deposit Account”) within the meaning of Section 9-102(29) of the New York UCC.
Appears in 4 contracts
Samples: Servicing Agreement (World Omni LT), Servicing Agreement (World Omni LT), Servicing Agreement (World Omni Auto Leasing LLC)
Characterization of Accounts. The Lease Funding Account and each Exchange Note Account will be a “"securities account” " (a “"Securities Account”") within the meaning of Section 8-501 of the Uniform Commercial Code of the State of New York (the “"New York UCC”"). The Company Account will be a “"deposit account” " (a “"Deposit Account”") within the meaning of Section 9-102(29) of the New York UCC.
Appears in 1 contract
Samples: Servicing Agreement (World Omni LT)
