Fidelity Bond and Errors and Omissions Policy. The Servicer or such Eligible Subservicer that is performing the servicing duties of the Servicer, has obtained, and shall continue to maintain in full force and effect, a Fidelity Bond and Errors and Omissions Policy of a type and in such amount as is customary for servicers engaged in the business of servicing motor vehicle receivables.
Appears in 5 contracts
Sources: Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-3), Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-1), Sale and Servicing Agreement (HSBC Auto Receivables Corp)