Common use of Effective Period and Termination of Custodian Clause in Contracts

Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 34 contracts

Samples: Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2021-2), Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2021-2), Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2021-1)

AutoNDA by SimpleDocs

Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Receivables Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 32 contracts

Samples: Sale and Servicing Agreement (AFS SenSub Corp.), Sale and Servicing Agreement (AFS SenSub Corp.), Sale and Servicing Agreement (AFS SenSub Corp.)

Effective Period and Termination of Custodian. AmeriCreditGM Financial’s appointment as custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit GM Financial is serving as Custodian, any termination of AmeriCredit GM Financial as Servicer hereunder shall terminate AmeriCredit GM Financial as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 30 contracts

Samples: Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2021-3), Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2021-3), Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2021-2)

Effective Period and Termination of Custodian. AmeriCreditGM Financial’s appointment as custodian Custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit GM Financial is serving as Custodian, any termination of AmeriCredit GM Financial as Servicer hereunder shall terminate AmeriCredit GM Financial as Custodian. As soon as practicable after termination of its appointment as custodianCustodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian Custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 26 contracts

Samples: Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2024-4), Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2024-4), Sale and Servicing Agreement (GM Financial Consumer Automobile Receivables Trust 2024-3)

Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian Custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodianCustodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian Custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 12 contracts

Samples: Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2024-1), Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2024-1), Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2023-2)

Effective Period and Termination of Custodian. AmeriCreditGM Financial’s appointment as custodian Custodian is effective as of the [Initial] Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit GM Financial is serving as Custodian, any termination of AmeriCredit GM Financial as Servicer hereunder shall terminate AmeriCredit GM Financial as Custodian. As soon as practicable after termination of its appointment as custodianCustodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian Custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Afs Sensub Corp.), Sale and Servicing Agreement (Afs Sensub Corp.)

AutoNDA by SimpleDocs

Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian Custodian is effective as of the [Initial] Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodianCustodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian Custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Afs Sensub Corp.), Sale and Servicing Agreement (Afs Sensub Corp.)

Effective Period and Termination of Custodian. AmeriCreditGM Financial’s appointment as custodian is effective as of the [Initial] Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit GM Financial is serving as Custodian, any termination of AmeriCredit GM Financial as Servicer hereunder shall terminate AmeriCredit GM Financial as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Afs Sensub Corp.), Sale and Servicing Agreement (AFS SenSub Corp.)

Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian is effective as of the [Initial] Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

Appears in 1 contract

Samples: Sale and Servicing Agreement (AFS SenSub Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!