Common use of No Segregation of Monies; No Interest Clause in Contracts

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 2023-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

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No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232024-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 2023-A 201[__]-[__] Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Daimler Trust), Trust Agreement (Daimler Trust)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232017-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2017-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2017-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232012-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232016-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232018-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 2023-A 20[__]-[_] Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Daimler Trust), Trust Agreement (Daimler Trust)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232018-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232015-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2015-A)

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No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232013-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2013-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232015-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2015-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232024-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232013-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2013-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20232014-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2014-A)

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