Common use of Custody of Receivable Files Clause in Contracts

Custody of Receivable Files. The Custodian will hold and maintain in custody the following documents for each Receivable (the “Receivable File”) for the benefit of the Issuer and the Indenture Trustee, using reasonable care and according to the Servicing Procedures: (i) the original Receivable or an authoritative copy of the Receivable, if in electronic form; (ii) the credit application signed by the Obligor; (iii) the original certificate of title or other documents evidencing the security interest of Ford Credit in the Financed Vehicle; and (iv) all other documents, notices and correspondence relating to the Receivable, the Obligor or the Financed Vehicle that the Servicer generates in the course of servicing the Receivable. Except as stated above, any document in a Receivable File may be a photocopy or in electronic format or may be converted to electronic format at any time. The Custodian will hold and maintain the Receivable Files, including any receivables systems on which the Receivable Files are electronically stored, in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Indenture Trustee to comply with the Indenture.

Custody of Receivable Files. The Custodian will hold and maintain in custody the following documents for each Receivable (the “"Receivable File”") for the benefit of the Issuer and the Indenture Trustee, using reasonable care and according to the Underwriting Procedures and the Servicing Procedures: (i) the original Receivable or an authoritative copy of the Receivable, if in electronic form; (ii) the credit application signed by the Obligor; (iii) the original certificate of title or other documents evidencing the security interest of Ford Credit in the Financed Vehicle; and (iv) all other documents, notices and correspondence relating to the Receivable, the Obligor or the Financed Vehicle that the Servicer generates in the course of servicing the Receivable. Except as stated above, any document in a Receivable File may be a photocopy or in electronic format or may be converted to electronic format at any time. The Custodian will hold and maintain the Receivable Files, including any receivables systems on which the Receivable Files are electronically stored, in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Indenture Trustee to comply with the Indenture.

Custody of Receivable Files. The Custodian will hold and maintain in custody the following documents for each Receivable (the “Receivable File”) for the benefit of the Issuer and the Indenture Trustee, using reasonable care and according to the Underwriting Procedures and the Servicing Procedures: (i) the original Receivable or an authoritative copy of the Receivable, if in electronic form; (ii) the credit application signed by the Obligor; (iii) the original certificate of title or other documents evidencing the security interest of Ford Credit in the Financed Vehicle; and (iv) all other documents, notices and correspondence relating to the Receivable, the Obligor or the Financed Vehicle that the Servicer generates in the course of servicing the Receivable. Except as stated above, any document in a Receivable File may be a photocopy or in electronic format or may be converted to electronic format at any time. The Custodian will hold and maintain the Receivable Files, including any receivables systems on which the Receivable Files are electronically stored, in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Indenture Trustee to comply with the Indenture.

Custody of Receivable Files. The Custodian will hold and maintain in custody the following documents for each Receivable (the “Receivable File”) for the benefit of the Issuer and the Indenture Trustee, using reasonable care and according to the Servicing Procedures: (i) the original Receivable or an authoritative copy of the Receivable, if in electronic form; (ii) the credit application signed by the Obligor; (iii) the original certificate of title or other documents evidencing the security interest of Ford Credit in the Financed Vehicle; and (iv) all other documents, notices and correspondence relating to the Receivable, the Obligor or the Financed Vehicle that the Servicer generates in the course of servicing the Receivable. Except as stated above, any document in a the Receivable File may be a photocopy or in electronic format or may be converted to electronic format at any time. The Custodian will hold and maintain the Receivable Files, including any receivables systems on which the Receivable Files are electronically stored, in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Indenture Trustee to comply with the Indenture.