Common use of Safekeeping Clause in Contracts

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold the Receivable Files in such a manner as to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 of the UCC). The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Entity, the Owner Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or othersitself. The Servicer covenants and agrees that it shall hold the Receivable Files in such a manner as to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 of the UCC). The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit of the Issuing Entity Issuer and the Indenture Trustee and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Issuer to comply with this Agreement. In performing its duties as custodian custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive equipment receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files and the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Issuer, the Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Entity, the Owner Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity Issuer and the Trustee and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Issuer to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian on behalf of the Trustee for the benefit of the Issuing Entity all present and future Certificateholders and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Servicer and the Trustee to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity Issuer and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Issuer to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Issuer, the Owner Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Entity, the Owner Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity Issuer and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Issuer to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Issuer, the Owner Trustee or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian on behalf of the Trust for the use and benefit of all Certificateholders and the Issuing Entity Surety Bond Issuer, and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Servicer to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement, and of the related accounts, records and computer systems, in such a manner as would enable the Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer Servicer, in its capacity as custodian, shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity Owner and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity Servicer to comply with this Agreement. In performing its duties as custodian custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer it exercises with respect to the receivable files relating to all of comparable automotive defaulted receivables that the Servicer services for itself or othersitself. The Servicer covenants and agrees that it shall hold conduct, or cause to be conducted, periodic examinations of the files of receivables owned or serviced by it, which shall include Receivable Files held by it under this Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Owner to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer's record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee Owner any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files.

Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit on behalf of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself or others. The Servicer covenants and agrees that it ​ shall hold conduct, or cause to be conducted, periodic audits of the Receivable Files held by it under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to prevent any other Person from obtaining “control” of any “electronic chattel paper” included therein (as such terms are used in section 9-105 verify the accuracy of the UCC)Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity Entity, the Owner Trustee or the Indenture Trustee of the Receivable Files.