Common use of CUSTODIAL ARRANGEMENT Clause in Contracts

CUSTODIAL ARRANGEMENT. The Custodian shall maintain custody and possession of the Receivable Files as custodian and bailee in accordance with and pursuant to the Custodial Agreement. The Servicer hereby assigns all of its right, title and interest in, but none of its obligators thereunder, and to such Custodial Agreement to the Trust Collateral Agent. To the extent the Servicer receives any notices with respect to the Custodial Agreement, the Servicer will forward a copy of such notice to the Trust Collateral Agent and the Insurer.

CUSTODIAL ARRANGEMENT. The Custodian shall maintain custody and possession of the Receivable Files as custodian and bailee for the Servicer and the Trust Collateral Agent in accordance with and pursuant to the Custodial Agreement. The Servicer hereby assigns all of its right, title and interest in, but none of its obligators obligations thereunder, and to such Custodial Agreement to the Trust Collateral Agent. To the extent the Servicer receives any notices with respect to the Custodial Agreement, the Servicer will forward a copy of such notice to each Noteholder, the Trust Collateral Agent and the Insurer.