Safekeeping of Contracts Sample Clauses

Safekeeping of Contracts. The Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to Section 7.03(k)(v) below, shall hold the Receivable Files (including any original physical Contract (or, in the case of Convenience Checks, in physical or electronic form)) for the benefit of the Borrower and the Secured Parties, as pledgee of the Borrower or the Trust, as applicable; provided that, that the Servicer, in its capacity as custodian, shall ensure that the Electronic Contracts are maintained by the Electronic Vault Provider as a designated custodian of the Administrative Agent (for the benefit of the Secured Parties) in the Electronic Vault; provided, further that if a Contract is Exported from the Electronic Vault, the Servicer in its capacity as custodian shall hold such Contract in physical form in accordance with its customary servicing practices and with this Agreement. The Electronic Vault will be controlled by the Servicer in its capacity as custodian hereunder. In performing its duties as custodian, the Servicer shall act in accordance with its customary servicing practices. The Servicer will promptly report to the Borrower, the Administrative Agent and the Lenders any failure on its part (or, if applicable, a subcustodian’s part) to hold any portion of the Receivable Files (including Electronic Contracts, but not including Convenience Checks) and maintain its account, records, and computer systems as herein provided or promptly take appropriate action to remedy any such failure. Nothing herein will be deemed to require an initial review or any periodic review by the Borrower, the Administrative Agent or the Secured Parties of the Receivable Files. The Servicer may, in accordance with its customary servicing practices, maintain all or a portion of a Receivable File in electronic form in the Electronic Vault and/or maintain custody of all or any portion of a Receivable File with one or more Persons to whom the Servicer has delegated responsibilities in accordance with Section 7.03(e). The Servicer will maintain each Receivable File in the United States (it being understood that (i) the Receivable Files, or any part thereof, may be maintained at the offices of any Person to whom the Servicer has delegated responsibilities in accordance with Section 7.03(e) and (ii) Electronic Contracts shall be maintained in the Electronic Vault). The Servicer will make available to the Administrative Agent and each Lender or their duly auth...
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Safekeeping of Contracts. The Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to paragraph (k)(v) below, shall hold the Receivable Files for the benefit of the Secured Parties, as pledgee of the Borrower. In performing its duties as custodian, the Servicer shall act in accordance with its customary servicing practices. The Servicer will promptly report to the Administrative Agent and the Lenders any failure on its part (or, if applicable, a subcustodian’s part) to hold the Receivable Files and maintain its account, records, and computer systems as herein provided or promptly take appropriate action to remedy any such failure. Nothing herein will be deemed to require an initial review or any periodic review by the Secured Parties of the Receivable Files. The Servicer will maintain each Receivable File in the United States (it being understood that the Receivable Files, or any part thereof, may be maintained at the offices of any Person to whom the Servicer has delegated responsibilities in accordance with Section 7.03(e)). The Servicer will make available to the Administrative Agent and each Lender or their duly authorized representatives, attorneys or auditors a list of locations of the Receivable Files upon reasonable request.
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Safekeeping of Contracts. The Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to paragraph (i)(v) below, shall hold the Receivable Files (including any original physical Contract) for the benefit of the Borrower, the Borrower Loan Trustee and the Secured Parties, as pledgee of the Borrower and the Borrower Loan Trustee for the benefit of the Borrower; provided that, that the Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to paragraph (i)(v) below, shall ensure that, following satisfaction of the Electronic Chattel Paper Condition, the Electronic Contracts (other than Specified Electronic Contracts) are maintained by the Electronic Vault Provider as a designated custodian of the Collateral Agent (for the benefit of the Secured Parties) in the Electronic Vault. In performing its duties as custodian, the Servicer shall act in accordance with its customary servicing practices. The Servicer will promptly report to the Borrower, the Borrower Loan Trustee for the benefit of the Borrower, the Collateral Agent, the Administrative Agent and the Lenders any failure on its part or on the part of a Subservicer acting as subcustodian to hold the Receivable Files and maintain its account, records, and computer systems as herein provided or promptly take appropriate action to remedy any
Sample 1
Safekeeping of Contracts. The Subservicer, as subcustodian shall hold the Receivable Files for the benefit of the Trust (other than any Electronic Contracts, which shall be held in the Electronic Vault). In performing its duties as subcustodian, the Subservicer shall act in accordance with its customary servicing practices. The Subservicer will promptly report to the 2017-1A SUBI Servicer any failure on its part to hold the Receivable Files and maintain its account, records, and computer systems as herein provided or promptly take appropriate action to remedy any such failure. The Subservicer will maintain each Receivable File (other than any Electronic Contracts) in the United States. The Subservicer will make available to the 2017-1A SUBI Servicer, or cause to be made available to Administrative Agent and each Lender or their duly authorized representatives, attorneys or auditors a list of locations of the Receivable Files upon reasonable request.”
Sample 1
Safekeeping of Contracts. The Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to paragraph (i)(v) below, shall hold the Receivable Files (including any original physical Contract) for the benefit of the Borrower, the Borrower Loan Trustee and the Secured Parties, as pledgee of the Borrower and the Borrower Loan Trustee for the benefit of the Borrower; provided that, that the Servicer, in its capacity as custodian, or a Subservicer appointed by the Servicer as subcustodian pursuant to paragraph 108
Sample 1

Related to Safekeeping of Contracts

  • Servicing of Contracts ..54 Section 5.01 Initial Servicer's Appointment and Acceptance; Responsibility for Contract Administration..........................................................................54 Section 5.02

  • Delivery of Contracts The Company has made available to Parent accurate and complete copies of all written Material Contracts identified in Part 2.11(a) of the Disclosure Schedule, including all amendments thereto. Part 2.11(b) of the Disclosure Schedule provides an accurate and complete description of the material terms of each Material Contract that is not in written form. Each Contract identified in Part 2.11(a) of the Disclosure Schedule is valid and in full force and effect, and is enforceable by the Company in accordance with its terms, subject to: (i) laws of general application relating to bankruptcy, insolvency and the relief of debtors; and (ii) rules of law governing specific performance, injunctive relief and other equitable remedies.

  • Administration and Servicing of Contracts Section 6.01 [Reserved].

  • Termination of Contracts Neither the Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any material contract or agreement referred to or described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus or filed as an exhibit to the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or by any other party to any such contract or agreement.

  • Contracts Loans Checks and Deposits SECTION 1 – LOANS At the discretion of the BOD loans may be contracted.

  • Status of Contracts Except as set forth in Schedule 5.17, each of the Seller Agreements constitutes a valid and binding obligation of the parties thereto and is in full force and effect and (except for those Seller Agreements which by their terms will expire prior to the Closing Date or are otherwise terminated prior to the Closing Date in accordance with the provisions hereof) may be transferred to Buyer pursuant to this Agreement and will continue in full force and effect thereafter, in each case without breaching the terms thereof or resulting in the forfeiture or impairment of any rights thereunder and without the consent, approval or act of, or the making of any filing with, any other party. Each Seller Party has fulfilled and performed in all material respects its obligations under each of the Seller Agreements, and each Seller Party is not in, or alleged to be in, material breach or default under, nor to the Knowledge of Seller is there or is there alleged to be any basis for termination of, any of the Seller Agreements. To the Knowledge of Seller, (i) no other party to any of the Seller Agreements has materially breached or defaulted thereunder, and (ii) no event has occurred and no condition or state of facts exists which, with the passage of time or the giving of notice or both, would constitute such a default or breach by any Seller Party or by any such other party. No Seller Party is currently renegotiating any of the Seller Agreements or paying liquidated damages in lieu of performance thereunder. Complete and correct copies of each of the Seller Agreements have heretofore been made available to Buyer by Seller.

  • Validity of Contracts The fact that:

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