Common use of Duties of Servicer as Custodian Clause in Contracts

Duties of Servicer as Custodian. (a) Safekeeping. The Servicer, in its capacity as custodian, shall hold the Receivable Files for the benefit of the Issuer and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuer to comply with this Agreement. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that it exercises with respect to the receivable files of comparable motor vehicle receivables (including automobiles and light-duty trucks) that the Servicer services for itself or others. The Servicer shall conduct, or cause to be conducted, periodic examinations of the files of all receivables owned or serviced by it which shall include the Receivable Files held by it under this Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to verify the accuracy of the Servicer’s record keeping. The Servicer shall promptly report to the Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review of the Receivable Files by the Issuer or the Indenture Trustee.

Duties of Servicer as Custodian. (a<R>(a) Safekeeping. The ServicerServicer shall hold, at one of the locations listed on Schedule B or at such other office as shall be specified to the Owner Trustee and the Indenture Trustee as provided in its capacity as custodiansection 3.03(b), shall hold the Receivable Files as custodian for the benefit of the Issuer and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuer to comply with this Agreement. The Servicer covenants and agrees that it shall hold the Receivable Files in such a manner as to prevent any other Person from obtaining control of any electronic chattel paper (as defined in the UCC) included therein, within the meaning of section 9-105 of the UCC. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that it the Servicer exercises with respect to the receivable files of relating to comparable motor vehicle automotive receivables (including automobiles and light-duty trucks) that the Servicer services for itself or others. The Servicer shall conduct, or cause to be conducted, periodic examinations of the files of all receivables owned or serviced by it which shall include the Receivable Files held by it under this Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to verify the accuracy of the Servicer’s record keeping. The Servicer shall promptly report to the Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuer, the Owner Trustee or the Indenture Trustee of the Receivable Files by the Issuer or the Indenture Trustee.Files.</R>

Duties of Servicer as Custodian. (ai) Safekeeping. The Servicer, in its capacity as custodian, Servicer shall hold the Receivable Files on ----------- behalf of the Trustee for the use and benefit of the Issuer all present and future Certificateholders, and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuer Trustee to comply with this the Agreement. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that it the Servicer exercises with respect to the receivable files of relating to all comparable motor vehicle automotive receivables (including automobiles and light-duty trucks) that the Servicer services for itself or others. The In accordance with its customary practices with respect to its retail installment sale contracts, the Servicer shall conduct, or cause to be conducted, periodic examinations audits of the files of all receivables owned or serviced by it which shall include the Receivable Files held by it under this the Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to verify the accuracy of the Servicer’s 's record keeping. The Servicer shall promptly report to the Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Trustee of the Receivable Files by the Issuer or the Indenture TrusteeFiles.

Duties of Servicer as Custodian. (a) Safekeeping. The Servicer, in its capacity as custodian, shall hold the Receivable Files for the benefit on behalf of the Issuer Issuer, and maintain such accurate and complete accounts, records (either original execution documents or copies of such originally executed documents shall be sufficient) and computer systems pertaining to each Receivable File the Receivables as shall enable the Issuer to comply with its obligations pursuant to this Agreement. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that it the Servicer exercises with respect to the receivable files of comparable motor vehicle new or used automobile receivables (including automobiles and light-duty trucks) that the Servicer services for itself or othersitself. The Servicer shall conduct, or cause to be conducted, periodic examinations audits of the files of all receivables owned or serviced by it the Servicer which shall include the Receivable Files held by it under this Agreement, Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer Owner Trustee or the Indenture Trustee to verify identify all Receivable Files and such related accounts, records and computer systems and to verify, if the Owner Trustee or the Indenture Trustee so elects, the accuracy of the Servicer’s record keeping's recordkeeping. The Servicer shall promptly report to the Issuer and Owner Trustee or the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records records, and computer systems as herein provided provided, and promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review of the Receivable Files by the Issuer or the Indenture Trustee.