Common use of Servicer to Act as Custodian Clause in Contracts

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 in accordance with the standard set forth in Section 4.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the Insurer, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the Insurer. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer shall xxxx conspicuously its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the Insurer, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the Servicer agrees to maintain the Leases at its office at 0000 Xxxx Xxxx, Xxxxx, Xxxxxxx or at such other offices of the Servicer as shall from time to time be identified by prior written notice to the

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 1.05 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment Sales and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx conspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at either its office at 0000 Xxxx Xxxxin Mt. Laurel, XxxxxNew Jersey or Mahwah, Xxxxxxx New Jersey or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx conspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at its office at 0000 Xxxx Xxxxin Mt. Laurel, XxxxxNew Jersey or Mahwah, Xxxxxxx New Jersey or Moberly, Missouri or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 1.05 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment Sales and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx mark conspicuously each original contractual document with a Xxxxxx, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at either its office at 0000 Xxxx Xxxxin Mt. Laurel, XxxxxNew Jersey or Mahwah, Xxxxxxx New Jersey or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 1.05 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx conspicuously mark xxxspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at its office at 0000 Xxxx Xxxxin Mt. Laurel, XxxxxNew Jersey or Mahwah, Xxxxxxx New Jersey or Moberly, Missouri or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 in accordance with the standard set forth in Section 4.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx mark conspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to (other than the Issuer and pledged by the Issuer to the Trustee as provided Seller's ownership interest in the Indenture, and (iiEquipment) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at either its office at 0000 Xxxx Xxxxin [Macon, Xxxxx, Xxxxxxx Georgia] or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by ; provided that the Trustee in accordance with Section 3.03(b) shall not be liable for the action, inaction of omission of the IndentureServicer. (b) The Servicer shall perform its duties under this Section 1.04 6.07 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx conspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer granted to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the IndentureTransaction Document. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at either its office at 0000 Xxxx Xxxxin New York, Xxxxx, Xxxxxxx New York or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities. (e) The Servicer will indicate in its records that it is servicing and administering each Lease in its capacity as Servicer hereunder, and to the extent it is in possession of any original Lease agreement, will hold such Lease, subject to the provisions of the Indenture as custodian for the Trustee.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 6.07 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and the InsurerNoteholders, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerNoteholders. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders shall xxxx mark conspicuously each original contractual document with a Xxxxxx, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer granted to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the IndentureTransaction Document. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at either its office at 0000 Xxxx Xxxxin New York, Xxxxx, Xxxxxxx New York or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities. (e) The Servicer will indicate in its records that it is servicing and administering each Lease in its capacity as Servicer hereunder, and to the extent it is in possession of any original Lease agreement, will hold such Lease, subject to the provisions of the Indenture as custodian for the Trustee.

Servicer to Act as Custodian. (a) The Servicer shall hold and acknowledges that it is holding the Leases and all other assets in the Asset Pool Granted Assets that it may from time to time receive hereunder as custodian for the Trustee, excluding any amounts distributed to the Servicer by the Trustee in accordance with Section 3.03(b) of the Indenture. (b) The Servicer shall perform its duties under this Section 1.04 in accordance with the standard set forth in Section 4.01 3.01 as such standard applies to servicers acting as custodial agents. The Servicer shall promptly report to the Trustee any failure by it to hold the complete Leases as herein provided and shall promptly take appropriate action to remedy any such failure but only to the extent (i) any such failure is caused by the acts or omissions of the Servicer and (ii) such remedial action is otherwise within its capabilities or control. As custodian, the Servicer shall have and perform the following powers and perform the following duties: (A) hold the Leases on behalf of the Trustee for the benefit of the Noteholders and for the Insurerbenefit of the Swap Counterparty, maintain accurate records pertaining to each Lease to enable it to comply with the terms and conditions of this Assignment and Servicing Agreement, and maintain a current inventory thereof; (B) implement policies and procedures in accordance with the Servicer's normal business practices with respect to the handling and custody of the Leases so that the integrity and physical possession of the Leases will be maintained; and (C) attend to all details in connection with maintaining custody of the Leases on behalf of the Issuer and for the Trustee on behalf of the Noteholders and the InsurerSwap Counterparty. (c) In acting as custodian of the Leases, the Servicer agrees further that it does not and will not have or assert any beneficial ownership interest in such Leases. The Servicer on behalf of the Noteholders and the Swap Counterparty shall xxxx conspicuously each original contractual document with a Lessee, and its master data processing records evidencing each Lease with a legend, acceptable to the Trustee and the InsurerTrustee, evidencing that (i) all right, title and interest in the Leases has been contributed and transferred to the Issuer and pledged by the Issuer to the Trustee as provided in the Indenture, and (ii) a security interest in all right, title and interest of the Seller in and to the related Equipment has been granted by the Seller to the Issuer hereunder and pledged by the Issuer to the Trustee as provided in the Indenture. (d) Subject to the provisions of this Assignment and Servicing Agreement, the The Servicer agrees to maintain the Leases at its office at 0000 Xxxx Xxxxin Mt. Laurel, XxxxxNew Jersey or Mahwah, Xxxxxxx New Jersey or Moberly, Missouri or at such other offices of the Servicer as shall from time to time be identified by prior written notice to thethe Trustee. Subject to the foregoing, the Servicer may temporarily move individual Leases or any portion thereof without notice as necessary to conduct collection and other servicing activities.