Common use of Custody of Storm Recovery Property Records Clause in Contracts

Custody of Storm Recovery Property Records. To assure uniform quality in servicing the Storm Recovery Property and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act as the agent of the Issuer as custodian of any and all documents and records relating to the Storm Recovery Property, which are hereby constructively delivered to the Trustee, as pledgee of the Issuer, with respect to all Storm Recovery Property.

Appears in 5 contracts

Samples: Servicing Agreement (Cleco Power LLC), Recovery Property Servicing Agreement (Cleco Power LLC), Servicing Agreement (Cleco Power LLC)

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Custody of Storm Recovery Property Records. To assure uniform quality in servicing the Storm Storm-Recovery Property and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act as the agent of the Issuer and each Trustee as custodian of any the Storm-Recovery Property Records, all of which are the sole property of the Issuer and all documents and records relating to the Storm Recovery Property, which are hereby constructively delivered to the each Trustee, as pledgee of the Issuer, Issuer with respect to all Storm Storm-Recovery Property.

Appears in 3 contracts

Samples: Property Servicing Agreement (FPL Recovery Funding LLC), Florida Power & Light Co, FPL Recovery Funding LLC

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