Common use of Revocation or Termination of Assignments Under the Master Exchange Agreement Clause in Contracts

Revocation or Termination of Assignments Under the Master Exchange Agreement. If at any time the assignment of rights under Disposition Contracts to the Qualified Intermediary shall cease or if any such assignment of rights shall be revoked with respect to any Relinquished Vehicle, the Closed-End Servicer shall deposit into the Lease Funding Account or the applicable Collection Account the actual Relinquished Vehicle Proceeds received by it with respect to such Relinquished Vehicle as otherwise required under this Closed-End Servicing Agreement and any applicable Servicing Supplement.

Appears in 5 contracts

Samples: Servicing Agreement (World Omni LT), Servicing Agreement (World Omni LT), Servicing Agreement (World Omni LT)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.