SERVICER ACTING AS CUSTODIAN. The Servicer acknowledges that any collections or proceeds from the Contracts in the Master Collections Account, or otherwise in the possession or control of the Servicer, are the Company's property. In holding such proceeds and collections, the Servicer agrees to act as custodian and bailee of the Company and the Additional Lender, if any, at all times.
Appears in 8 contracts
Samples: Indenture (Transition Auto Finance Ii Inc), Indenture (Transition Auto Finance Ii Inc), Subsidiary Agreement (Transition Auto Finance Iii Inc)
SERVICER ACTING AS CUSTODIAN. The Servicer acknowledges that any collections or proceeds from the Contracts in the Master Collections Account, or otherwise in the possession or control of the Servicer, are the Company's property. In holding such proceeds and collections, the Servicer agrees to act as custodian and bailee of the Company and the Additional Lender, if any, at all times.
Appears in 4 contracts
Samples: Indenture (Sovereign Credit Finance Ii Inc), Indenture (Sovereign Credit Finance I Inc), Tamarack Funding Corp
SERVICER ACTING AS CUSTODIAN. The Servicer acknowledges that any collections or proceeds from the Contracts in the Master Collections Account, or otherwise in the possession or control of the Servicer, are the Company's property. In holding such proceeds and collections, the Servicer agrees to act as custodian and bailee of the Company and the Additional Lender, if any, at all times.
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