Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 66 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2021-B), Sale and Servicing Agreement (CNH Equipment Trust 2021-B), Sale and Servicing Agreement (CNH Equipment Trust 2021-A)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer CFC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 18 contracts
Samples: Sale and Servicing Agreement (Premier Auto Trust 1999-1), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2000 B), Sale and Servicing Agreement (Premier Auto Trust 1999-2)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate; provided, however, that with respect to “authoritative copies” (within the meaning of Section 9-105 of the UCC) of the Receivables constituting electronic chattel paper, if the Servicer’s appointment as custodian has been terminated in connection with the resignation or termination of the Servicer as servicer, the custodian shall transfer control of such “authoritative copies” to the successor Servicer or as otherwise instructed by the Indenture Trustee.
Appears in 17 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2024-C), Sale and Servicing Agreement (CNH Equipment Trust 2024-C), Sale and Servicing Agreement (CNH Equipment Trust 2024-B)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee Trustee, the Indenture Trustee's agent or the Indenture Trustee’s agent 's designee at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 15 contracts
Samples: Sale and Servicing Agreement (Mmca Auto Owner Trust 2001 2), Sale and Servicing Agreement (Mmca Auto Owner Trust 2001-1), Sale and Servicing Agreement (Mmca Auto Owner Trust 2001-3)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee Trustee, the Indenture Trustee's agent or the Indenture Trustee’s agent 's designee at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 14 contracts
Samples: Sale and Servicing Agreement (Mmca Auto Receivables Trust), Sale and Servicing Agreement (Mmca Auto Owner Trust 2000-2), Sale and Servicing Agreement (Mmca Auto Receivables Trust)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer DCS shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 11 contracts
Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2005-A), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2004-B), Sale and Servicing Agreement (Daimlerchrysler Services North America LLC)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 10 contracts
Samples: Sale and Servicing Agreement (CNH Capital Receivables Inc), Sale and Servicing Agreement (CNH Capital Receivables Inc), Sale and Servicing Agreement (Case Receivables Ii Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 3.7 or until this Agreement shall be terminated. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5 or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% a majority of the Note Balanceaggregate Outstanding Amount of the Notes (or, (c) with if there are no Notes outstanding, the consent Holders of Noteholders of Notes evidencing Certificates representing not less than 25% a majority of the Note Certificate Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity), in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall shall, at its expense, deliver the Receivable Files to the Indenture Trustee Issuer or the Indenture Trustee’s Issuer's agent at such place(s) place or places as the Indenture Trustee Issuer may reasonably designate. Notwithstanding the termination of the Servicer as custodian, the Owner Trustee agrees that upon any such termination, the Issuer shall provide, or cause its agent to provide, access to the Receivable Files to the Servicer for the purpose of carrying out its duties and responsibilities with respect to the servicing of the Receivables hereunder.
Appears in 9 contracts
Samples: Sale and Servicing Agreement (Chase Manhattan Auto Owner Trust 2001-B), Sale and Servicing Agreement (Chase Manhattan Auto Owner Trust 1998-C), Sale and Servicing Agreement (Chase Manhattan Bank Usa)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any Servicer Ford Credit shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) or by the Noteholders of Notes evidencing not less than 25% of the Note BalanceBalance of the Notes Outstanding or, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note BalanceBalance of the Notes Outstanding, by the Owner Trustee or (d) by Certificateholders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityAggregate Certificate Balance, in the same manner as the Indenture Trustee or such Holders Securityholders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent the Receivable Files and the related accounts and records maintained by the Servicer at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 8 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Receivables Two L P), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)
Effective Period and Termination. The Master Servicer’s 's appointment as custodian shall become effective as of the Cutoff Cut-Off Date and shall continue in full force and effect until terminated pursuant to under this Section, upon the termination of the Issuer or the repurchase of all of the Contracts by the Seller, whichever is first to occur. If any the Master Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Master Servicer shall have been terminated under pursuant to Section 8.18.01, the appointment of such the Master Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) by the Noteholders Holders of Notes evidencing not less than 25% a majority of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% Outstanding Amount of the Note BalanceNotes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% a majority of the beneficial interest in the Issuing Entityaggregate Certificate Percentage Interest, in the same manner as the Indenture Trustee, the Owner Trustee or such Holders may terminate the rights and obligations of the Master Servicer under pursuant to Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer8.01. As soon as practicable after any termination of such appointment, the Master Servicer shall shall, at its own expense, deliver the Receivable Contract Files to the Indenture Owner Trustee or its agent or as designated by the Indenture Trustee’s agent Owner Trustee at such place(s) place or places as the Indenture Owner Trustee may reasonably designatedesignate and shall cooperate in good faith to effect such delivery.
Appears in 8 contracts
Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer DCFS shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 8 contracts
Samples: Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2006-D), Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2006-C), Sale and Servicing Agreement (DaimlerChrysler Financial Services Americas LLC)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.
Appears in 7 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2013-B Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2013-B Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2013-a Owner Trust)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this SectionSection 3.06. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.
Appears in 6 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii), Sale and Servicing Agreement (Nissan Auto Receivables 2014-B Owner Trust)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the [Initial] Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate. [The Issuing Entity shall give notification to the Counterparties upon termination of the Servicer as custodian.]
Appears in 6 contracts
Samples: Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Capital Receivables LLC)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate. The Issuing Entity shall give notification to the Counterparties upon termination of the Servicer as custodian.
Appears in 5 contracts
Samples: Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Capital Receivables LLC)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (CNH Capital Receivables Inc), Sale and Servicing Agreement (CNH Capital Receivables Inc), Sale and Servicing Agreement (CNH Equipment Trust 2005-A)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Cut-off Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer JDCC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) Certificateholders evidencing not less than 25% of by the beneficial interest in the Issuing EntityCertificateholder, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) place or places as the Indenture Trustee may reasonably designate. The Servicer shall pay the fees of any other Person acting as custodian of the Receivables Files.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (John Deere Owner Trust 2009), Sale and Servicing Agreement (John Deere Owner Trust 2007), Sale and Servicing Agreement (John Deere Owner Trust 2009-B)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2009-B), Sale and Servicing Agreement (CNH Equipment Trust 2006-A), Sale and Servicing Agreement (CNH Capital Receivables LLC)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Cut-off Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer JDCC shall resign as Servicer in accordance with this the provisions of the Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) Certificateholders evidencing not less than 25% of by the beneficial interest in the Issuing EntityCertificateholder, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate. The Servicer shall pay the fees of any other Person acting as custodian of the Receivables Files.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Deere John Receivables Inc), Sale and Servicing Agreement (Deere John Receivables Inc), Sale and Servicing Agreement (John Deere Owner Trust 2006)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer CFSA shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and the Backup Servicer and, and without cause cause, upon 30 days’ prior written notification to the Servicer and the Backup Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Sale and Servicing Agreement (Chrysler Financial Services Americas LLC)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Cut-off Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer JDCC shall resign as Servicer in accordance with this the provisions of the Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) Certificateholders evidencing not less than 25% of by the beneficial interest in the Issuing EntityCertificateholder, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) place or places as the Indenture Trustee may reasonably designate. The Servicer shall pay the fees of any other Person acting as custodian of the Receivables Files.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (Deere John Receivables Inc), Sale and Servicing Agreement (Deere John Receivables Inc), Sale and Servicing Agreement (Deere John Receivables Inc)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer DCFS shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2007-A), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-B), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-A)
Effective Period and Termination. The Master Servicer’s 's appointment as custodian shall become effective with respect to each (i) Initial Contract as of the Cutoff Initial Cut-Off Date and (ii) Subsequent Contract as of the related Subsequent Cut-Off Date and shall continue in full force and effect until terminated pursuant to under this Section, upon the termination of the Issuer or the repurchase of all of the Contracts by the Seller, whichever is first to occur. If any the Master Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Master Servicer shall have been terminated under pursuant to Section 8.18.01, the appointment of such the Master Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) by the Noteholders Holders of Notes evidencing not less than 25% a majority of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% Outstanding Amount of the Note BalanceNotes of the Controlling Class, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% a majority of the beneficial interest in the Issuing Entityaggregate Certificate Percentage Interest, in the same manner as the Indenture Trustee, the Owner Trustee or such Holders may terminate the rights and obligations of the Master Servicer under pursuant to Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer8.01. As soon as practicable after any termination of such appointment, the Master Servicer shall shall, at its own expense, deliver the Receivable Contract Files to the Indenture Owner Trustee or its agent or as designated by the Indenture Trustee’s agent Owner Trustee at such place(s) place or places as the Indenture Owner Trustee may reasonably designatedesignate and shall cooperate in good faith to effect such delivery.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (WFS Financial 2005-3 Owner Trust), Sale and Servicing Agreement (WFS Financial 2005-2 Owner Trust), Sale and Servicing Agreement (WFS Receivables Corp 3)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: :
(a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (Case Receivables Ii Inc), Sale and Servicing Agreement (Case Receivables Ii Inc), Sale and Servicing Agreement (Case Receivables Ii Inc)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this SectionSection 3.06. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.. 33 (Nissan 2015-C Sale and Servicing Agreement)
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this SectionSection 3.06. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.. 33 (Nissan 2015-B Sale and Servicing Agreement)
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate. The Issuing Entity shall give notification to the Counterparty upon termination of the Servicer as custodian.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2007-A), Sale and Servicing Agreement (CNH Equipment Trust 2006-B)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer DFS shall resign as Servicer in accordance with Article VII of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under pursuant to Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with if Notes have been paid in full, by the consent Owner Trustee or by Holders of Noteholders of Notes Certificates evidencing not less than 25% of the Note Certificate Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp), Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this SectionSection 3.06. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.. 31 (Nissan 2013-C Sale and Servicing Agreement)
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2013-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2013-C Owner Trust)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date Cut-off Date, and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer NMAC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer NMAC as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by the Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee Issuer may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to 31 (Nissan 2012-B Sale and Servicing Agreement) the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Relevant Trustee or the Indenture Trustee’s agent thereof at such place(s) place or places as the Indenture Relevant Trustee may reasonably designate.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2012-B Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2012-B Owner Trust)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Closing Date and shall continue in full force and effect until terminated pursuant to this Section. If any the Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% the Outstanding Amount of the Notes or, with the consent of Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.reasonably
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bond Securitization LLC)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any the Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders Holders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) the Certificateholders holding Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders Noteholders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s 's appointment as custodiancustodian of the Receivable Files, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Case Receivables Ii Inc)
Effective Period and Termination. (a) The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect unless and until terminated pursuant to this SectionSection 3.08(a). If LSI or any successor Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of LSI or any successor Servicer shall have been terminated under Section 8.18.02, the appointment of such Servicer as custodian shall may be terminated by: (a) by the Note Insurer, the Issuer, the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or by Holders (cother than the Seller or an affiliate thereof) with the consent of Noteholders of Notes Certificates evidencing not less than 25% of the Note Certificate Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Note Insurer, the Indenture Trustee or such Holders Securityholders may terminate the rights and obligations of the Servicer under Section 8.18.02. The Indenture Trustee or, or with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, Servicer and without cause upon 30 days’ prior cause, only by written notification to the ServicerServicer pursuant to Section 8.02. As soon as practicable after any termination of such appointment (but in no event more than 10 Business Days after any such termination of appointment), the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate.the
Appears in 1 contract
Samples: Sale and Servicing Agreement (First Merchants Acceptance Corp)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer DCS shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2003-B)
Effective Period and Termination. The Servicer’s appointment of the Servicer as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 6.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.17.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than twenty-five percent (25% %) of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than twenty-five percent (25% %) of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than twenty-five percent (25% %) of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer7.1. As soon as practicable after any termination of such appointment, the Servicer (at its own expense) shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee or an agent or designee of the Indenture Trustee’s agent Trustee (including any Successor Servicer) at such place(s) place or places as the Indenture Trustee may reasonably designate.. 29 35
Appears in 1 contract
Samples: Sale and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)
Effective Period and Termination. The Servicer’s appointment of the Servicer as custodian shall become effective as of the Cutoff Cut-off Date and shall continue in full force and effect until for the term of the Trust unless terminated earlier pursuant to this SectionSection 3.6. If any the Servicer shall resign as Servicer in accordance with this Agreement the provisions of Section 8.5 or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.19.1, the appointment of such the Servicer and the Sub-Servicer as custodian shall may be terminated by: (a1) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes Certificates evidencing not less than 25% a majority of the Note Certificate Principal Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee oreither case, with the consent of the Indenture TrusteeCertificate Insurer or (ii) by the Certificate Insurer, by written notification to the Servicer. The Trustee with the consent of the Certificate Insurer may or, at the direction of the Certificate Insurer, shall terminate the Servicer’s 's appointment as custodian, custodian with cause, cause at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to in which case the Sub-Servicer shall also be terminated as a custodian. The Trustee shall notify the Rating Agencies of any termination of the Servicer's appointment as custodian pursuant to this Section 3.6. As soon as practicable after any termination of such appointment, the Servicer and the Sub-Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer CFC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Premier Auto Trust 1996-4)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer _______ shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Citigroup Vehicle Securities Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25[__]% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25[__]% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25[__]% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ days prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (CNH Capital Receivables Inc)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the [Initial] Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate. The Issuing Entity shall give notification to the Counterparties upon termination of the Servicer as custodian.
Appears in 1 contract
Samples: Sale and Servicing Agreement (CNH Capital Receivables LLC)
Effective Period and Termination. The Master Servicer’s 's appointment as custodian shall become effective as of the Cutoff Cut-Off Date and shall continue in full force and effect until terminated pursuant to under this Section, upon the termination of the Issuer or the repurchase of all of the Contracts by the Seller, whichever is first to occur. If any the Master Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Master Servicer shall have been terminated under pursuant to Section 8.18.01, the appointment of such the Master Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) by the Noteholders Holders of Notes evidencing not less than 2551% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% Outstanding Amount of the Note BalanceNotes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 2551% of the beneficial interest in the Issuing Entityaggregate Certificate Percentage Interest, in the same manner as the Indenture Trustee, the Owner Trustee or such Holders may terminate the rights and obligations of the Master Servicer under pursuant to Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer8.01. As soon as practicable after any termination of such appointment, the Master Servicer shall shall, at its own expense, deliver the Receivable Contract Files to the Indenture Owner Trustee or its agent or as designated by the Indenture Trustee’s agent Owner Trustee at such place(s) place or places as the Indenture Owner Trustee may reasonably designatedesignate and shall cooperate in good faith to effect such delivery.
Appears in 1 contract
Samples: Sale and Servicing Agreement (WFS Receivables Corp 3)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer CFC shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.. Administration and Servicing of Receivables
Appears in 1 contract
Samples: Sale and Servicing Agreement (Premier Auto Trust 1998-1)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee Trustee, the Indenture Trustee's agent or the Indenture Trustee’s agent 's designee at such place(s) place or places as the Indenture Trustee may reasonably designate.. ARTICLE III
Appears in 1 contract
Samples: Sale and Servicing Agreement (Mmca Auto Receivables Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer World Omni shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Outstanding Amount of the beneficial interest in Notes, by the Issuing EntityOwner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (World Omni Auto Receivables LLC)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section SECTION 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section SECTION 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (CNH Capital Receivables Inc)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer shall resign as Servicer in accordance with this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.1, the appointment of such Servicer as custodian shall be terminated by: (a) the Indenture Trustee, (b) the Noteholders of Notes evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityIssuer, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (CNH Equipment Trust 2005-B)
Effective Period and Termination. The Servicer’s 's -------------------------------- appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer _______ shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes or, (c) with the consent of Noteholders Holders of the Notes evidencing not less than 25% of the Note BalanceOutstanding Amount of the Notes, by the Owner Trustee or (d) by Certificateholders evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.18.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s 's appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ ' prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Morgan Stanley Abs Capital Ii Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee Trustee, the Indenture Trustee's agent or the Indenture Trustee’s agent 's designee at such place(s) place or places as the Indenture Trustee may reasonably designate.. ARTICLE III
Appears in 1 contract
Samples: Sale and Servicing Agreement (Mmca Auto Receivables Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 2.8. If any the Servicer shall resign as Servicer in accordance with this Agreement under Section 7.5, or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.1, the appointment of such the Servicer as custodian shall hereunder may be terminated by: (a) by the Indenture Trustee, (b) Trustee or by the Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes or, (c) with the consent of Noteholders Holders of Notes evidencing not less than 25% of the Note Balanceprincipal amount of the then Outstanding Notes, by the Owner Trustee or (d) Certificateholders by Holders of Certificates evidencing not less than 25% of the beneficial interest in the Issuing EntityCertificate Balance, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, with the consent of the Indenture Trustee, the Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee Trustee, the Indenture Trustee's agent or the Indenture Trustee’s agent 's designee at such place(s) place or places as the Indenture Trustee may reasonably designate.. ARTICLE III ADMINISTRATION
Appears in 1 contract
Samples: Sale and Servicing Agreement (Mmca Auto Receivables Inc)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 7.07. If any the Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.114.01, the appointment of such the Servicer as custodian shall may be terminated by: (ai) by the Indenture TrusteeTrustee with the consent of the Insurer, which consent shall not be unreasonably withheld, (bii) by the Noteholders Holders of Notes Certificates evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than Certificate Balance and 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Notional Principal Amount of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, Class I Certificates with the consent of the Indenture Insurer, which consent shall not be unreasonably withheld, or (iii) by the Insurer, without the consent of the Holders of the Certificates (and, as to the rights of the Insurer under (i), (ii) or (iii), so long as the Insurer is not in default of its obligations under the Policy). The Trustee, on behalf of the Trustee Trust, may terminate the Servicer’s 's appointment as custodian, custodian with cause, cause at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee Trustee, with the consent of the Insurer, may reasonably designate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bay View Securitization Corp)
Effective Period and Termination. The Servicer’s 's appointment as custodian shall become effective as of the Cutoff Date and shall continue in full force and effect until terminated pursuant to this SectionSection 7.07. If any the Servicer shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any the Servicer shall have been terminated under Section 8.114.01, the appointment of such the Servicer as custodian shall may be terminated by: (ai) by the Indenture TrusteeTrustee with the consent of the Surety Bond Issuer, which consent shall not be unreasonably withheld, (bii) by the Noteholders Holders of Notes Certificates evidencing not less than 25% of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than Certificate Balance and 25% of the Note Balance, the Trustee or (d) Certificateholders evidencing not less than 25% Notional Principal Amount of the beneficial interest in the Issuing Entity, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.1. The Indenture Trustee or, Class I Certificates with the consent of the Indenture Surety Bond Issuer, which consent shall not be unreasonably withheld, or (iii) by the Surety Bond Issuer, without the consent of the Holders of the Certificates (and, as to the rights of the Surety Bond Issuer under (i), (ii) or (iii), so long as the Surety Bond Issuer is not in default of its obligations under the Surety Bond). The Trustee, on behalf of the Trustee Trust, may terminate the Servicer’s 's appointment as custodian, custodian with cause, cause at any time upon written notification to the Servicer, and without cause upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s 's agent at such place(s) place or places as the Indenture Trustee Trustee, with the consent of the Surety Bond Issuer, may reasonably designate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bay View Securitization Corp)
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Cut-Off Date and shall continue in full force and effect until terminated pursuant to this Section. If any Servicer E*Trade Consumer Finance shall resign as Servicer in accordance with this Agreement Article VII or if all of the rights and obligations of any Servicer shall have been terminated under pursuant to Section 8.18.01, the appointment of such Servicer as custodian shall be terminated by: (a) by the Indenture Trustee, (b) Trustee acting at the Noteholders written direction of the Holders of Notes evidencing not less than 25% a majority of the Note Balance, (c) with the consent of Noteholders of Notes evidencing not less than 25% Balance of the Note BalanceNotes of the Controlling Class (or, if all the Notes have been paid in full, by the Owner Trustee or (d) Certificateholders evidencing not less than 25% of by the beneficial interest in the Issuing EntityResidual Interestholder, in the same manner as the Indenture Trustee or such Holders of Notes may terminate the rights and obligations of the Servicer under Section 8.18.01). The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written notification to the ServicerServicer and, and without cause cause, upon 30 days’ prior written notification to the Servicer. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place(s) place or places as the Indenture Trustee may reasonably designate.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp)