Custodial Arrangements. (a) The Servicer shall maintain custody of all documents, instruments or records that evidence or relate to Receivables as custodian for the benefit of the Trustee and the Investor Certificateholders. The Trustee shall have no responsibility or liability for any acts or omissions or any negligence or wilful misconduct of the Servicer as such custodian. (b) In performing its duties under this Section 8.9, the Servicer agrees to act with that degree of skill and care that it exercises with respect to similar documents, instruments or records that evidence or relate to receivables owned or serviced by it.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CDF Funding, Inc.), Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust), Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)
Custodial Arrangements. (a) The Servicer shall maintain ---------------------- custody of all documents, instruments or records that evidence or relate to Receivables as custodian for the benefit of the Trustee and the Investor Certificateholders. The Trustee shall have no responsibility or liability for any acts or omissions or any negligence or wilful misconduct of the Servicer as such custodian.
(b) In performing its duties under this Section 8.9, the Servicer agrees to act with that degree of skill and care that it exercises with respect to similar documents, instruments or records that evidence or relate to receivables owned or serviced by it.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)
