Common use of Servicing Releases Clause in Contracts

Servicing Releases. (a) From time to time upon request of a Servicer for release or delivery of any Specified Document, which request to a Custodian (if the Custodian is not the same entity as such Servicer) shall be substantially in the form of Exhibit B hereto, such Custodian shall release and make delivery of such Specified Documents within its possession as so instructed. By a delivery of any such request, such Servicer shall be deemed to have certified that the release or delivery of such Specified Document is consistent with the requirements of this Agreement and the other Transaction Documents. Shipment of the Specified Documents may be made by courier, delivery or personal delivery (confirmation receipt requested) or such other means as shall be directed by such Servicer. All Specified Documents so released or delivered shall be held by such Servicer, or under its control, in trust for the benefit of the Agent and the Purchasers. Such Servicer shall return such documents to such Custodian when such Servicer’s servicing need no longer exists, unless such release is in connection with the liquidation of the related Receivable or payment in full of the related Receivable in accordance with its terms. (b) In no event shall any Custodian have any liability for risks associated with the shipment or delivery of any Specified Documents, absent such Custodian’s gross negligence or willful misconduct. (c) At the request of the Servicer, a Custodian shall provide to the Servicer copies of Specified Documents held by such Custodian.

Servicing Releases. (ad) From time to time upon request of a Servicer for release or delivery of any Specified Document, which request to a Custodian (if the Custodian is not the same entity as such Servicer) shall be substantially in the form of Exhibit B hereto, such Custodian shall release and make delivery of such Specified Documents within its possession as so instructed. By a delivery of any such request, such Servicer shall be deemed to have certified that the release or delivery of such Specified Document is consistent with the requirements of this Agreement and the other Transaction Documents. Shipment of the Specified Documents may be made by courier, delivery or personal delivery (confirmation receipt requested) or such other means as shall be directed by such Servicer. All Specified Documents so released or delivered shall be held by such Servicer, or under its control, in trust for the benefit of the Agent and the Purchasers. Such Servicer shall return such documents to such Custodian when such Servicer’s servicing need no longer exists, unless such release is in connection with the liquidation of the related Receivable or payment in full of the related Receivable in accordance with its terms. (ba) In no event shall any Custodian have any liability for risks associated with the shipment or delivery of any Specified Documents, absent such Custodian’s gross negligence or willful misconduct. (cb) At the request of the Servicer, a Custodian shall provide to the Servicer copies of Specified Documents held by such Custodian.