Common use of Holding and Using Posted Collateral Clause in Contracts

Holding and Using Posted Collateral. Eligibility to Hold Posted Collateral; Custodians. Party B and its Custodian will be entitled to hold Posted Collateral, as applicable, pursuant to Paragraph 6(b); provided that the following conditions applicable to each party are satisfied:

Appears in 1 contract

Sources: Indenture Supplement (PHH Corp)

Holding and Using Posted Collateral. (i) Eligibility to Hold Posted Collateral; Custodians. Party B is not and its will not be entitled to hold Posted Collateral. Party B's Custodian will be entitled to hold Posted Collateral, as applicable, Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to each party are satisfied:Custodian for Party B shall be the same banking institution that acts as Trustee for the Certificates (as defined in the Pooling and Servicing Agreement) for Party B.

Appears in 1 contract

Sources: Isda Master Agreement (Alternative Loan Trust 2006-Oc8)