Custody of Receivable Files. (a) In connection with the sale, transfer and assignment of the Receivables to the Depositor pursuant to the Pooling Agreement and the First Step Receivables Assignment, the Depositor, simultaneously with the execution and delivery of the Pooling Agreement and this Agreement, shall enter into the Custodian Agreement with the Custodian, pursuant to which the Depositor shall revocably appoint the Custodian, and the Custodian shall accept such appointment, to act as the agent of the Depositor as Custodian of the following documents or instruments which shall be constructively delivered to the Depositor with respect to each Receivable:
Appears in 76 contracts
Samples: Servicing Agreement (Ally Auto Receivables Trust 2018-3), Servicing Agreement (Ally Auto Receivables Trust 2023-1), Servicing Agreement (Ally Auto Receivables Trust 2016-1)
Custody of Receivable Files. (a) In connection with the sale, transfer and assignment of the Receivables to the Depositor pursuant to the Pooling Agreement and the First Step [Initial] Receivables Assignment, the Depositor, simultaneously with the execution and delivery of the Pooling Agreement and this Agreement, shall enter into the Custodian Agreement with the Custodian, pursuant to which the Depositor shall revocably appoint the Custodian, and the Custodian shall accept such appointment, to act as the agent of the Depositor as Custodian of the following documents or instruments which shall be constructively delivered to the Depositor with respect to each Receivable:
Appears in 4 contracts
Samples: Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC)
