No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2, monies received by the Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and need not be segregated in any manner except to the extent required by law or the Sale and Servicing Agreement and may be deposited under such general conditions as may be prescribed by law, and the Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 3 contracts
Samples: Trust Agreement (CNH Equipment Trust 2024-C), Trust Agreement (CNH Equipment Trust 2024-B), Trust Agreement (CNH Equipment Trust 2024-A)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2024-A Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, 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 Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 20[__]-[_] Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, 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 Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2021-A Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-A)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2023-A Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, 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)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2019-A Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-A)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2020-B Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2021-B Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2019-B Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2020-A Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-A)
No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2Section 5.01, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and account, need not be segregated in any manner except to the extent required by law the 2024-B Basic Documents or the Sale and Servicing Agreement Applicable Law, and may be deposited under such general conditions as may be prescribed by law, Applicable Law and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B)