Common use of MASTER SERVICER AS AGENT AND BAILEE OF THE GRANTOR TRUST CERTIFICATEHOLDER Clause in Contracts

MASTER SERVICER AS AGENT AND BAILEE OF THE GRANTOR TRUST CERTIFICATEHOLDER. Solely for purposes of perfection by possession under the Uniform Commercial Code or other similar applicable law, rule or regulation of the state in which such property is held by the Master Servicer, the Grantor Trustee hereby acknowledges that the Master Servicer is acting as agent and bailee of the Grantor Trust Certificateholder in holding amounts on deposit in the Custodial Account pursuant to Section 3.02 of the Servicing Agreement that are allocable to the Grantor Trust Certificate, as well as its agent and bailee in holding any Related Documents released to the Master Servicer pursuant to Section 3.06(c) of the Servicing Agreement, and any other items constituting a part of the Trust Estate which from time to time come into the possession of the Master Servicer. It is intended that, by the Master Servicer's acceptance of such agency pursuant to Section 3.02 of the Servicing Agreement, the Grantor Trustee will be deemed to have possession of such Related Documents, such monies and such other items for purposes of the Uniform Commercial Code of the state in which such property is held by the Master Servicer.

MASTER SERVICER AS AGENT AND BAILEE OF THE GRANTOR TRUST CERTIFICATEHOLDER. Solely for purposes of perfection by possession under the Uniform Commercial Code or other similar applicable law, rule or regulation of the state in which such property is held by the Master Servicer, the Grantor Trustee hereby acknowledges that the Master Servicer is acting as agent and bailee of the Grantor Trust Certificateholder Certificateholders in holding amounts on deposit in the Custodial Master Servicer Collection Account pursuant to Section 3.02 of the Servicing Agreement that are allocable to the Grantor Trust CertificateCertificates, as well as its agent and bailee in holding any Related Documents released to the Master Servicer pursuant to Section 3.06(c) 2.07 of the Servicing Agreement, and any other items constituting a part of the Grantor Trust Estate which from time to time come into the possession of the Master Servicer. It is intended that, by the Master Servicer's acceptance of such agency pursuant to Section 3.02 ’s execution and delivery of the Servicing Agreement, the Grantor Trustee will be deemed to have possession of such Related Documents, such monies and such other items for purposes of the Uniform Commercial Code of the state in which such property is held by the Master Servicer.

MASTER SERVICER AS AGENT AND BAILEE OF THE GRANTOR TRUST CERTIFICATEHOLDER. Solely for purposes of perfection by possession under the Uniform Commercial Code or other similar applicable law, rule or regulation of the state in which such property is held by the Master Servicer, the Grantor Trustee hereby acknowledges that the Master Servicer is acting as agent and bailee of the Grantor Trust Certificateholder Certificateholders in holding amounts on deposit in the Custodial Master Servicer Collection Account pursuant to Section 3.02 of the Servicing Agreement that are allocable to the Grantor Trust CertificateCertificates, as well as its agent and bailee in holding any Related Documents released to the Master Servicer pursuant to Section 3.06(c) 2.07 of the Servicing Agreement, and any other items constituting a part of the Trust Estate which from time to time come into the possession of the Master Servicer. It is intended that, by the Master Servicer's acceptance of such agency pursuant to Section 3.02 execution and delivery of the Servicing Agreement, the Grantor Trustee will be deemed to have possession of such Related Documents, such monies and such other items for purposes of the Uniform Commercial Code of the state in which such property is held by the Master Servicer.