Common use of Custodian to Act as Agent; Acceptance of Loan Files Clause in Contracts

Custodian to Act as Agent; Acceptance of Loan Files. (A) From time to time ACAS shall deliver possession of “instruments” (within the meaning of Article 9 of the UCC) not constituting part of “chattel paper” (within the meaning of such Article 9) that evidence or relate to certain Loans, including the related Underlying Notes, and other portions of the Loan Files relating to such Loans to the Custodian at the address set forth on Annex B attached hereto, along with a “Deposit Letter” in the form of Exhibit A attached hereto. ACAS shall also identify on the Loan Checklist for the related Loan File whether such Loan is evidenced by such instruments.