Collection and Application of Security Deposits Sample Clauses

Collection and Application of Security Deposits. (a) The Servicer shall separately account for any Security Deposit related to the Lease Assets remitted to it as agent and bailee for ACOLT, and shall apply the proceeds of such Security Deposits in accordance with applicable law, its Customary Servicing Practices and the Leases, including that the Servicer shall use the Security Deposit in respect of any defaulted Lease for the payment of any amount resulting from the related Lessee’s default or failure to pay all amounts required to be paid under such Lease and any Excess Wear and Excess Mileage Charges.
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Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 1998-B SUBI Servicing Supplement, the Servicer shall retain each Security Deposit remitted to it (or deemed remitted to it) as agent and bailee for the Obligor until such time as the Titling Trust, the Titling Trustee on behalf of the Titling Trust, or the Servicer may lawfully and under the terms of the related Contract apply such Security Deposit against unpaid amounts owed under the Contract, damages to the related Leased Vehicle, excess wear and tear charges, expenses in connection with the refurbishment and disposal of the related Leased Vehicle or against fees, charges, payments or expenses advanced or paid by the Servicer in accordance with applicable law, its customary and usual servicing procedures and the related Contract, from and after which time such amounts will be 1998-B SUBI Assets, subject to any reimbursement due to the Servicer. To the extent any Security Deposit or portion thereof is to be treated as proceeds of a Contract or Leased Vehicle (because such Contract has become a Charged-Off Contract), the related Security Deposit or such portion shall be deemed to be Liquidation Proceeds. On each Deposit Date, but otherwise as provided in Section 4.02(c)(ii) of this 1998-B SUBI Servicing Supplement, the Servicer shall deposit into the 1998-B SUBI Collection Account each Security Deposit that became Liquidation Proceeds during the previous month; otherwise, each Security Deposit, after deduction for amounts applied towards the payment or reimbursement of any amount described above, shall be returned to the related Obligor by the Servicer upon termination of such Contract.
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Collection and Application of Security Deposits. The Servicer shall retain any Security Deposit remitted to it or the Trust as agent and bailee for the Trust, and shall apply the proceeds of such Security Deposits in accordance with applicable law, its Customary Servicing Practices and the User Leases, including but not limited to using the Security Deposit in respect of any User Lease for the payment of any amount resulting from the related End User's default or failure to pay all amounts required to be paid under such User Lease or resulting from excess mileage or excess wear and tear to the related Leased Vehicle. In the event that any User Lease becomes a Charged-off Lease or, if earlier, the related Leased Vehicle is repossessed, then the related Security Deposit, to the extent permitted by such User Lease and applicable law, shall thereby become a Collection. Each Security Deposit, after deduction for amounts applied towards the payment of any amount resulting from the related End User's default or failure to pay any amounts required to be paid under such User Lease or damage to the related Leased Vehicle, shall be returned to the related End User by the
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Collection and Application of Security Deposits. The Servicer shall retain any Security Deposit remitted to it as agent and bailee for the Trust and as proceeds of the Leases and the Fleet Receivables, and shall apply the proceeds of such Security Deposits in accordance with applicable law, the Policies and any contract or agreement pursuant to which such Security Deposit is being provided to the Trust, including but not limited to using the Security Deposit in respect of any payment that the related Obligor failed to pay. Upon the termination of a Master Lease Agreement, the related Security Deposit, after deduction for amounts applied towards the payment of any amount resulting from the related Obligor's default or failure to pay any amounts required to be paid under such Master Lease Agreement or in respect of Fleet Receivables, shall be returned to the related Obligor by the Servicer; provided, however, that the Servicer may
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Collection and Application of Security Deposits. (a) The Servicer shall separately account for any Security Deposit related to the Series 20 -SN Lease Assets remitted to it or to COLT as agent and bailee for COLT, and shall apply the proceeds of such Security Deposits in accordance with applicable law, its Customary Servicing Practices and the Series 20 -SN Leases, including that the Servicer shall use the Security Deposit in respect of any defaulted Series 20 -SN Lease for the payment of any amount resulting from the related Lessee’s default or failure to pay all amounts required to be paid under such Series 20 -SN Lease and any Excess Wear and Excess Mileage Charges.
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Collection and Application of Security Deposits. (a) The Servicer shall separately account for any Security Deposit related to the Series 2005-SN1 Lease Assets remitted to it or to COLT as agent and bailee for COLT, and shall apply the proceeds of such Security Deposits in accordance with applicable law, its Customary Servicing Practices and the Series 2005-SN1 Leases, including that the Servicer shall use the Security Deposit in respect of any defaulted Series 2005-SN1 Lease for the payment of any amount resulting from the related Lessee's default or failure to pay all amounts required to be paid under such Series 2005-SN1 Lease and any Excess Wear and Excess Mileage Charges.
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Collection and Application of Security Deposits. Subject to Section 4.03I of this 20[__]-[__] SUBI Servicing Supplement, the Servicer shall retain each Security Deposit remitted to it (or deemed remitted to it) as agent and bailee for the Obligor until such time as the Titling Trust, the Titling Trustee on behalf of the Titling Trust, or the Servicer may lawfully and under the terms of the related 20[__]-[__] Contract apply such Security Deposit against unpaid amounts owed under the 20[__]-[__] Contract, damages to the related 20[__]-[__] Leased Vehicle, excess wear and tear charges, expenses in connection with the refurbishment and disposal of the related 20[__]-[__] Leased Vehicle or against fees, charges, payments or expenses advanced or paid by the Servicer in accordance with applicable law and its Customary Servicing Practices and the related 20[__]-[__] Contract, from and after which time such amounts will be 20[__]-[__] SUBI Assets, subject to any reimbursement due to the Servicer. To the extent any Security Deposit or portion thereof is to be treated as proceeds of a 20[__]-[__] Contract or 20[__]-[__] Leased Vehicle (because such 20[__]-[__] Contract has become a Charged-Off Contract), the related Security Deposit or such portion shall be deemed to be Liquidation Proceeds. On or prior to each Payment Date, or otherwise as provided in Section 4.02I(ii) of this 20[__]-[__] SUBI Servicing Supplement, the Servicer shall deposit into the 20[__]-[__] SUBI Collection Account each Security Deposit that became Liquidation Proceeds during the related Collection Period; otherwise, each Security Deposit related to a 20[__]-[__] Contract, after deduction for amounts applied towards the payment or reimbursement of any amount described above, shall be returned to the related Obligor by the Servicer upon termination of such 20[__]-[__] Contract.
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Collection and Application of Security Deposits. (a) The Servicer shall separately account for any Security Deposit related to the Series 200_-__ Lease Assets remitted to it or to COLT as agent and bailee for COLT, and shall apply the proceeds of such Security Deposits in accordance with applicable law, its Customary Servicing Practices and the Series 200_-__ Leases, including that the Servicer shall use the Security Deposit in respect of any defaulted Series 200_-__ Lease for the payment of any amount resulting from the related Lessee's default or failure to pay all amounts required to be paid under such Series 200_-__ Lease and any Excess Wear and Excess Mileage Charges.
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Related to Collection and Application of Security Deposits

  • Return of Security Deposit If Tenant shall perform all of its respective covenants and agreements in the Lease, the Security Deposit, or the portion thereof not previously applied pursuant to the provisions of the Lease, together with a statement, shall be returned to Tenant without interest, no later than sixty (60) days after the expiration of the Term, or any renewal or extension thereof (or such earlier time if required by applicable law), provided Tenant has vacated the Premises and surrendered possession thereof to Landlord.

  • Transfer of Security Deposit If any Security Deposit or prepaid Rent has been paid by Tenant, Landlord may transfer the Security Deposit or prepaid Rent to Landlord's successor and upon such transfer, Landlord shall be released from any liability for return of the Security Deposit or prepaid Rent.

  • Maintenance of Security Interest (a) Such U.S. Pledgor shall maintain the security interest created by this Agreement in such U.S. Pledgor’s Pledged Collateral as a security interest having at least the perfection and priority described in subsection 4.3.4 or subsection 4.3.5, as applicable and shall defend such security interest against the claims and demands of all Persons whomsoever. At any time and from time to time, upon the written request of the ABL Collateral Agent and at the sole expense of such U.S. Pledgor, such U.S. Pledgor will promptly and duly execute and deliver such further instruments and documents and take such further actions as the ABL Collateral Agent may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted by such U.S. Pledgor; provided, that notwithstanding any other provision of this Agreement or any other Loan Documents, neither the Parent Borrower nor any other U.S. Pledgor will be required to (i) take any action in any jurisdiction other than the United States of America, or required by the laws of any such non-U.S. jurisdiction, or enter into any security agreement or pledge agreement governed by the laws of any such non-U.S. jurisdiction, in order to create any security interests (or other Liens) in assets located or titled outside of the United States of America or to perfect any security interests (or other Liens) in any Collateral, (ii) deliver control agreements with respect to, or confer perfection by “control” over, any deposit accounts, bank or securities account or other Collateral, except (A) as required by subsection 4.16 of the ABL Credit Agreement and (B) in the case of Security Collateral that constitutes Capital Stock or Pledged Notes in certificated form, delivering such Capital Stock or Pledged Notes to the ABL Collateral Agent (or another Person as required under any applicable Intercreditor Agreement), (iii) take any action in order to perfect any security interests in any assets specifically requiring perfection through control (including cash, cash equivalents, deposit accounts or securities accounts) constituting Excluded Assets (except, in each case, to the extent consisting of proceeds perfected by the filing of a financing statement under the Code or, in the case of Pledged Stock, by being held by the ABL Collateral Agent or an Additional Agent as agent for the ABL Collateral Agent), (iv) deliver landlord lien waivers, estoppels or collateral access letters or (v) file any fixture filing with respect to any security interest in Fixtures affixed to or attached to any real property constituting Excluded Assets.

  • Investment of Security Funds Any amounts not payable to ---------------------------- Lessee and paid to or retained by Lessor pursuant to any provision hereof solely because a Lease Event of Default or Lease Default shall have occurred and be continuing or because Lessee shall not have performed in full its obligations under Article XI shall be held by Lessor as security for the obligations of ---------- Lessee under this Lease and the other Operative Documents. At such time as no Lease Event of Default or Lease Default, or Lease failure to perform shall be continuing, such amounts, net of any amounts previously applied to Lessee's obligations hereunder or under any other Operative Documents, shall be paid to Lessee. Any such amounts which are held pending payment to Lessee or application hereunder shall be invested by Lessor (or Administrative Agent) as directed from time to time in writing by Lessee (provided, however, if a Lease Event of Default has occurred and is -------- ------- continuing, such investment will be directed by Lessor), and at the expense and risk of Lessee, in Permitted Investments. Any gain (including interest received) realized as the result of any such investment (net of any fees, commissions and other expenses, if any, incurred in connection with such investment) shall be applied from time to time in the same manner as the principal invested. Lessee will promptly pay to Lessor on demand, the amount of any loss realized as the result of any such investment (together with any fees, commissions and other expenses, if any, incurred in connection with such investment), such amount to be held, paid and applied in the same manner as other amounts subject to this Section 18.17. ------------- [signature page follows]

  • Perfection of Security The Borrower must (at its own cost) take any action and enter into and deliver any document which is required by the Lender so that a Security Document provides for effective and perfected security in favor of any successor of the Lender, including (but not limited to), promptly after the date hereof:

  • Maintenance of Security Interests The Borrower will:

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Collateral Documents that presently secure the Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Obligations as described in the Original Credit Agreement as modified by this Amendment.

  • Maintenance of Security Interests in Vehicles (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that the designation of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the secured party on the Lien Certificate is in its capacity as Servicer as agent of the Trust.

  • Creation and Description of Security Interest In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Agreement, Pledgor, pursuant to the California Commercial Code, hereby pledges all of such Shares (herein sometimes referred to as the "Collateral") represented by certificate number ___, duly endorsed in blank or with an executed stock power or powers, and herewith delivers said certificate to Pledgeholder, who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment or assignments for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the Agreement, and Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

  • Termination of Security Interest Upon the full and final payment and performance of all Obligations of the Company under this Indenture and the Notes or upon Legal Defeasance, Covenant Defeasance or satisfaction and discharge of this Indenture in accordance with Article 12 hereof, the Trustee will, at the request of the Company, deliver a certificate to the Collateral Agent stating that such Obligations have been paid in full, and instruct the Collateral Agent to release the Liens pursuant to this Indenture and the Security Documents.

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