Common use of Covenants of the Custodian Clause in Contracts

Covenants of the Custodian. (a) The Custodian, either directly or by acting through an agent or nominee (which agent shall not be the Originator or any Affiliate thereof, except as provided in Section 10.8(e) hereof), shall hold the Legal File and all other documents relating to any Receivable that comes into its possession for the exclusive use and benefit of the Issuer and shall make disposition thereof only in accordance with the provisions of this Agreement. The Custodian shall maintain continuous custody of the Legal File and such other documents received by it in secure facilities in accordance with customary standards for such custody and shall not release such documents or transfer such documents to any other party, including any subcustodian, except as otherwise expressly provided herein.