COLT Custodian definition
Examples of COLT Custodian in a sentence
Except as otherwise expressly provided in this COLT Custodian Agreement, no other Person shall have any right or obligation hereunder.
This COLT Custodian Agreement may be executed by the parties in separate counterparts, each of which when so executed and delivered shall be an original but all such counterparts shall together constitute but one and the same instrument.
This COLT Custodian Agreement may not be modified, amended, waived, or supplemented except as provided herein.
In performing its duties hereunder, the COLT Custodian agrees to act with reasonable care, using that degree of skill and attention that the COLT Custodian exercises with respect to automotive lease files relating to comparable automotive leases that the COLT Custodian services and holds for itself or others.
Except as specifically stated otherwise herein, this COLT Custodian Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this COLT Custodian Agreement.
This COLT Custodian Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
A certified copy of a by-law or of a resolution of the appropriate governing body of COLT (or, as appropriate, a trustee on behalf of COLT) may be received and accepted by the COLT Custodian as conclusive evidence of the authority of any such officer to act and may be considered as in full force and effect until receipt of written notice to the contrary.
This COLT Custodian Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns.
The COLT Custodian and COLT further agree that the COLT Custodian shall be entitled to rely and act upon advice of counsel with respect to its performance hereunder and shall be without liability for any action reasonably taken pursuant to such advice, provided that such action is not in violation of applicable federal or state law.
The COLT Custodian hereby covenants and agrees that prior to the date which is one year and one day after the payment in full of all Secured Notes, it shall not institute against, or join any other Person in instituting against, COLT in any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the bankruptcy or similar laws of the United States or any state of the United States.