Common use of Collateral Procedures Clause in Contracts

Collateral Procedures. The Borrower shall deliver to the Agent the Required Consumer Loan Documents from time to time to such locations and in such manner acceptable to the Agent as the Agent shall reasonably determine. The Borrower shall take any actions required by the Agent to obtain the release of any lien or security interest in favor of any party other than the Agent in any Consumer Loan Collateral. The Borrower shall pay to the Agent all custodial costs incurred, as determined by the Agent. With the prior consent of the Agent in each instance, in its sole discretion, the Borrower shall be entitled to effect delivery to the Agent by delivery to the Collateral Custodian or a successor custodian approved by the Agent. All consumer loans delivered by the Borrower to the Agent or the Collateral Custodian shall be accompanied by the Required Consumer Loan Documents, and the Borrower shall be deemed to represent and warrant in connection with all such loans delivered to the Agent or the Collateral Custodian that the certifications required to be included in the Consumer Loan Cover Sheet are true even if no such cover sheet shall be delivered by the Borrower. The Borrower shall promptly deliver to the Agent or the Collateral Custodian any additional documents related to any Consumer Loan Collateral which the Borrower acquires after delivery to the Agent or the Collateral Custodian of the Required Consumer Loan Documents.

Collateral Procedures. The Borrower shall deliver to the Agent the Required Consumer Loan Documents and the Required Eligible Inventory Documents from time to time to such locations and in such manner acceptable to the Agent as the Agent shall reasonably determine. The Borrower shall take any actions required by the Agent to obtain the release of any lien or security interest in favor of any party other than the Agent in any Consumer Loan Collateral or Inventory Collateral. The Borrower shall pay to the Agent all custodial costs incurred, as determined by the Agent. With the prior consent of the Agent in each instance, in its sole discretion, the Borrower shall be entitled to effect delivery to the Agent by delivery to the Collateral Custodian or a successor custodian approved by the Agent. All consumer loans delivered by the Borrower to the Agent or the Collateral Custodian shall be accompanied by the Required Consumer Loan Documents, and the Borrower shall be deemed to represent and warrant in connection with all such loans delivered to the Agent or the Collateral Custodian that the certifications required to be included in the Consumer Loan Cover Sheet are true even if no such cover sheet shall be delivered by the Borrower. The Borrower shall promptly deliver to the Agent or the Collateral Custodian any additional documents related to any Consumer Loan Collateral or Inventory Collateral which the Borrower acquires after delivery to the Agent or the Collateral Custodian of the Required Consumer Loan Documents or the Required Eligible Inventory Documents, as applicable.