Common use of Collection and Application of Security Deposits Clause in Contracts

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.

Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 1998-B C 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 C 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 C SUBI Servicing Supplement, the Servicer shall deposit into the 1998-B C 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.

Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 1998-B C 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 1998-C Contract apply such Security Deposit against unpaid amounts owed under the 1998-C Contract, damages to the related 1998-C Leased Vehicle, excess wear and tear charges, expenses in connection with the refurbishment and disposal of the related 1998-C 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 1998-C Contract, from and after which time such amounts will be 1998-B C 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 1998-C Contract or 1998-C Leased Vehicle (because such 1998-C 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 or otherwise as provided in Section 4.02(c)(ii) of this 1998-B C SUBI Servicing Supplement, the Servicer shall deposit into the 1998-B C SUBI Collection Account each Security Deposit that became Liquidation Proceeds during the previous month; otherwise, each Security DepositDeposit related to a 1998-C 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 Contract0000-X Xxxxxxxx.

Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 19981997-B A 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 19981997-B A 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)Vehicle, 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 19981997-B A SUBI Servicing Supplement, the Servicer shall deposit into the 19981997-B A 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.

Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 19981997-B A 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 13 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 19981997-B A 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)Vehicle, 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 19981997-B A SUBI Servicing Supplement, the Servicer shall deposit into the 19981997-B A 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.

Collection and Application of Security Deposits. Subject to Section 4.03(c) of this 19981997-B A 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 an under the terms of the related Contract apply such Security Deposit against unpaid amounts owed under the Contract, damages to the related Leased Vehiclevehicle, 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 19981997-B A 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 1997-A Contract or 1997-A Leased Vehicle (because such Contract has become a Charged-Off Contract)Vehicle, the related Security Deposit or such portion shall be deemed to be Liquidation Proceeds. On each Deposit Dateat least a monthly basis, but otherwise as provided in Section 4.02(c)(ii) of this 19981997-B A SUBI Servicing Supplement, the Servicer shall deposit into the 19981997-B A 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.