Common use of Document Custodian Clause in Contracts

Document Custodian. The Company shall retain and enter into and, at all times, be a party to a Custodial Agreement with a document custodian (the “Document Custodian”) who is a Qualified Custodian, and such Document Custodian shall at all times have custody and possession of the Notes and other Custodial Documents. At no time shall the Company have more than one Document Custodian. The fees and expenses paid to the Document Custodian shall be no more than market rates and the Custodial Agreement shall be terminable by the Company or the Participant upon no more than thirty (30) days’ notice, without cause thereunder. In the event that the Company (or the Servicer) removes any original Notes or other Custodial Documents from the possession of the Document Custodian (which shall be done only in accordance with the Custodial Agreement), (i) any loss or destruction of or damage to such Notes or Custodial Documents shall be the liability of the Company (who, along with the Servicer, shall be responsible for safeguarding such Notes and Custodial Documents) and (ii) such Notes shall be returned to the Document Custodian within the time provided under the applicable Uniform Commercial Code to maintain the Participant’s perfection thereof by possession. If any Notes or other Custodial Documents are removed in connection with the modification or restructuring of a Loan, the modified or restructured Notes and other Custodial Documents removed in connection therewith shall be returned to the Document Custodian as soon as possible following the completion of the restructuring or modification (and, in any event, in accordance with clause (ii) of the immediately preceding sentence). The Company shall ensure that the Participant receives a copy of each demand, notice or other communication given under the Custodial Agreement at the time that such notice or other communication is given thereunder.

Document Custodian. The Company shall retain and enter into and, at all times, be a party to a Custodial Agreement with a document custodian (the “Document Custodian”) who is a Qualified Custodian, Custodian and such Document Custodian shall at all times have custody and possession of the Notes and other Custodial Documents. At no time shall the Company have more than one Document Custodian. The fees and expenses paid to the Document Custodian shall be no more than market rates and the Custodial Agreement shall be terminable by the Company or the and Participant upon no more than thirty (30) days’ days notice, without cause thereunder. In the event that the Company (or the its Servicer) removes any original Notes or other Custodial Documents from the possession of the Document Custodian (which shall be done only in accordance with the Custodial Agreement), (i) any loss or destruction of or damage to such Notes or Custodial Documents shall be the liability of the Company (who, along with the Servicer, its Servicer shall be responsible for safeguarding such Notes and Custodial Documents) ), and (ii) such Notes shall be returned to the Document Custodian within the time provided under the applicable Uniform Commercial Code to maintain the Participant’s perfection thereof by possession. If any Notes or other Custodial Documents are removed in connection with the modification or restructuring of a Loan, the modified or restructured Notes and other any Custodial Documents removed in connection therewith shall be returned to the Document Custodian as soon as possible following the completion of the restructuring or modification (and, in any event, in accordance with clause (ii) of the immediately preceding sentence). The Company shall ensure that the Participant receives a copy of each demand, notice or other communication given under the Custodial Agreement at the time that such notice or other communication is given thereunder.clause

Document Custodian. The Company shall retain and enter into and, at all times, be a party to a Custodial Agreement with a document custodian (the “Document Custodian”) who is a Qualified Custodian, Custodian and such Document Custodian shall at all times have custody and possession of the Notes and other Custodial Documents. At no time shall the Company have more than one Document Custodian. The fees and expenses paid to the Document Custodian shall be no more than market rates and the Custodial Agreement Document Custodian shall be terminable by the Company or the and by Participant upon no more than thirty (30) days’ noticedays notice provided by either, without cause thereunder. In the event that the Company (or the any Servicer) removes any original Notes or other Custodial Documents from the possession of the Document Custodian (which shall be done only in accordance with the Custodial Agreement), (i) any loss or destruction of or damage to such Notes or Custodial Documents shall be the liability of the Company (who, along with the Servicer, Servicer shall be responsible for safeguarding such Notes and Custodial Documents) ), and (ii) such Notes shall be returned to the Document Custodian within the time provided under the applicable Uniform Commercial Code to maintain the Participant’s perfection thereof by possession. If any Notes or other Custodial Documents are removed in connection with the modification or restructuring of a Loan, the modified or restructured Notes and other Custodial Documents removed in connection therewith shall be returned to the Document Custodian as soon as possible following the completion of the restructuring or modification (and, in any event, in accordance with clause (ii) of the immediately preceding sentence). The Company shall ensure that the Participant receives a copy of each demand, notice or other communication given under the Custodial Agreement at the time that such notice or other communication is given thereunder.