Common use of Custody of Documentation Clause in Contracts

Custody of Documentation. In connection with the transfer, assignment and conveyance of the Receivables in the Scheduled Accounts and related Collateral Security to the Issuing Entity hereunder, GMAC, as Custodian under the Custodian Agreement, agrees to act as Custodian thereunder for the benefit of the Issuing Entity. The Issuing Entity hereby accepts and agrees to the terms and provisions of the Custodian Agreement and designates GMAC as custodian with respect to the documents and instruments (as more fully described in the Custodian Agreement) associated with the Receivables related to the Scheduled Accounts subject to termination of GMAC as Custodian under the terms of the Custodian Agreement.