Common use of Custody Procedures Clause in Contracts

Custody Procedures. it has implemented procedures certifying the existence of the Transferred Receivables and the security, guarantees and collateral attached thereto and their safe custody and that such Transferred Receivables are collected for the exclusive benefit of the FCC;

Custody Procedures. it has implemented procedures certifying the existence of the Transferred Receivables and the security, guarantees and collateral thereto attached thereto and their safe custody and that such Transferred Receivables are collected for the exclusive benefit of the FCC;