Common use of Qualified Institutions Clause in Contracts

Qualified Institutions. In the event the Servicer has received notice from the Facility Agent or otherwise has actual knowledge that a depositary holding any of the Transaction Accounts ceases to be a Qualified Institution, then the Servicer shall give notice thereof to the Facility Agent (if applicable), the Securities Custodian and the Rating Agency and within 60 days shall cause such Transaction Account to become established and maintained with a Qualified Institution.

Qualified Institutions. In the event the Servicer has received notice from the Facility Agent or otherwise has actual knowledge that a depositary holding any of the Transaction Accounts ceases to be a Qualified Institution, then the Servicer shall give notice thereof to the Facility Agent (if applicable), ) and the Securities Custodian and the Rating Agency and within 60 days shall cause such Transaction Account to become established and maintained with a Qualified Institution.