Custody of Loan Files Clause Samples
Custody of Loan Files. In connection with the sale, transfer and assignment of Loans to the Seller from ALS pursuant to the Purchase Agreement, the sale, transfer and assignment to the Issuer pursuant to this Agreement and the execution and delivery of the Indenture, the Servicer, the Issuer and the Indenture Trustee simultaneously with the execution and delivery of this Agreement, shall enter into the Custodial Agreement with the Custodian, pursuant to which the Indenture Trustee shall revocably appoint the Custodian, at the expense of the Servicer, and the Custodian shall accept such appointment, to act as the agent of the Indenture Trustee as Custodian of the following documents or instruments (collectively, the "Collateral Documents"):
(a) the fully executed original of the Equipment Note for any such Loan (which shall not bear any transfer or encumbrance legend or, if it shall bear such a legend, shall be accompanied by an unconditional release from the party or parties named in such legend);
(b) the original, fully executed Guaranty executed in respect of such Loan (unless the Loan Schedule certifies that such document does not exist with respect to the applicable Loan);
(c) the original, fully executed security agreement executed for such Loan;
(d) the original file-stamped UCC-1 financing statement with recording information indicated thereon for such Loan filed by the Originator against the Obligor with respect to the related Equipment (unless, solely with respect to the Initial Loans, the Loan Schedule certifies that such document does not exist with respect to the applicable Loan and is not required to be delivered to the Custodian pursuant to this Agreement) or a copy thereof and related certificates (as provided in the second paragraph below);
(e) the Delivery and Acceptance Receipt for such Loan (unless the Loan Schedule certifies that such document does not exist with respect to the applicable Loan) or a copy thereof and related certification (as provided in the second paragraph below); and
(f) the assignment of lease, landlord waiver, mortgagee waiver or deed, in each case, with respect to the real property on which the related Equipment is located (unless the Loan Schedule certifies that such document does not exist with respect to the applicable Loan and is not required to be delivered to the Custodian pursuant to this Agreement). The Seller shall or shall cause the Servicer to deliver to the Custodian all of the Collateral Documents (but shall retain copies th...
Custody of Loan Files. To assure uniform quality in servicing the loans and to reduce administrative costs, the Cooperative hereby appoints CFC as servicing agent of the loans, and the CFC hereby accepts such appointment, to act for the benefit of the Cooperative as custodian of the following documents or instruments (which are hereby constructively delivered to CFC) with respect to each loan:
a.) the fully executed original of each loan agreement, promissory note, and security agreement;
b.) the original credit application fully executed by the borrower; and
c.) any and all other documents that CFC, as servicing agent, shall keep on file, in accordance with its customary procedures, relating to a Loan; Provided, however: That upon appointment of a successor servicing agent, the CFC shall promptly deliver all such documents or instruments with respect to any loan in its possession to such successor servicing agent. (07-07-99) PN 307 RD Instruction 2000-KKK Exhibit A
Custody of Loan Files. After the Service Start Date, Servicer shall act as custodian of the following documents or instruments (collectively the “Student Loan Files”):
(a) all electronic records evidencing each Loan, including historical Loans (the “Loan Documents”);
(b) any and all other documents and computerized records that Servicer shall keep on file, in accordance with Servicer’s customary procedures, relating to each Loan, including historical Loans, or any obligor with respect thereto; and
(c) all Loan files in Navient’s vault prior to the Service Start Date and all Loan files on the Servicer Systems; for avoidance of doubt, the foregoing does not include any hard copy Loan files that as of the Service Start Date were kept off-site and not in space leased by Servicer pursuant to the Leases unless such Loan files are subsequently furnished to Servicer and relate to any Loan(s) serviced by Servicer pursuant hereto.
Custody of Loan Files