Not Required to Segregate Clause Samples
The "Not Required to Segregate" clause establishes that a party is not obligated to keep certain assets, funds, or property separate from its own or from those of other clients. In practice, this means that the party may commingle client assets with its own or with those of other clients, rather than maintaining distinct accounts or physical separation. This clause is commonly used in financial or custodial agreements to clarify that the service provider is not acting as a trustee or fiduciary with respect to segregation. Its core function is to limit the administrative burden on the party holding assets and to clarify that clients do not have a claim to specific, segregated property, thereby reducing operational complexity and potential liability for the holder.
Not Required to Segregate. The Indenture Trustee need not segregate any funds held by it in trust under this Indenture from other funds unless required by Law, this Indenture or the Transfer and Servicing Agreement.
Not Required to Segregate. The Administrative Agent need not segregate any funds held by it in trust under this Agreement from other funds unless required by law, this Agreement, an Exchange Note Supplement or a Servicing Supplement.
Not Required to Segregate. Money held in trust by the Indenture Trustee need not be segregated from other money unless required by law, this Indenture or the Sale and Servicing Agreement.