Common use of Transaction Asset; Security Interest Clause in Contracts

Transaction Asset; Security Interest. (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Transaction Asset Documents as exclusive bailee and agent for the Buyer pursuant to terms of the Custodial Agreement and shall deliver Trust Receipts (as defined in the Custodial Agreement) to the Buyer, each to the effect that it has reviewed such Transaction Asset Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Transaction Asset Documents as so reviewed.

Transaction Asset; Security Interest. (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Transaction Asset Documents as exclusive bailee and agent for the Buyer pursuant to terms of the Custodial Agreement and shall deliver Trust Receipts (as defined in the Custodial Agreement) to the Buyer, each to the effect that it has reviewed such Transaction Asset Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Transaction Asset Documents as so reviewed.