Lockboxes; Lockbox Account; Collection Account. None of the Lockboxes, the Lockbox Account nor any interest therein is currently pledged or assigned to any party. The Collection Account or any interest therein has not been pledged or assigned to any party other than the Administrative Agent. (p)
Lockboxes; Lockbox Account; Collection Account. The Servicer shall not create or participate in the creation of, or solely in the case of the initial Servicer, permit to exist, any Liens (other than Permitted Liens) with respect to the Lockboxes, the 103
Lockboxes; Lockbox Account; Collection Account. None of the Lockboxes, the Lockbox Account nor any interest therein is currently pledged or assigned to any party. The Collection Account or any interest therein has not been pledged or assigned to any party other than the Administrative Agent." (g) Section 5.03 is amended by deleting clause (j) thereof in its entirety and replacing it with the following: "(j)
Lockboxes; Lockbox Account; Collection Account. The Servicer shall not create or participate in the creation of, or solely in the case of the initial Servicer, permit to exist, any Liens (other than Permitted Liens) with respect to the Lockboxes, the Lockbox Account or the Collection Account. The Servicer shall not enter into any "control agreement" (as defined in the relevant UCC) with respect to the Lockboxes, the Lockbox Account or the Collection Account (other than the Control Agreement). Without the prior written Consent of the Administrative Agent, the Servicer shall not move the Lockboxes, the Lockbox Account or the Collection Account to an institution other than the one at which it is held as of the Closing Date." (i) Section 7.03 is amended by deleting sub-clauses (c)(ii) and (c)(iv) thereof in their entirety and replacing them, respectively, with the following: "(ii) Consistent with the Credit and Collection Policy, if any Receivable is past due or delinquent, in whole or in part, the Servicer will make reasonable and customary efforts to contact the Obligor. The Servicer shall continue its efforts to obtain payment from an Obligor who is past due or delinquent on a Receivable until the related Financed Vehicle has been repossessed and sold or the Servicer has determined that all amounts collectable on the Receivable have been collected. The Servicer shall use commercially reasonable efforts, consistent with the Credit and Collection Policy and the standard of care set forth in Section 7.03(a), to collect funds on a Defaulted Receivable and by the close of business on the second Business Day following receipt of such Collections to cause such Collections to be deposited into the Collection Account." "(iv) The Servicer shall deposit or cause to be deposited by electronic funds transfer all Collections to the Collection Account no later than two Business Days after the earlier of the deposit of such amounts into the Lockbox Account or the receipt of such amounts by or on behalf of the Servicer or the Borrower. Notwithstanding the foregoing, in no event shall any Successor Servicer be obligated to transfer funds in excess of the available funds in the Lockbox Account." (j) Section 8.02 is amended by deleting clause (b) thereof in its entirety and replacing it with the following: "(b) The Administrative Agent may take any action permitted under the Basic Documents, including, without limitation, delivering any shifting control or similar notice under the Control Agreement." (k) Schedule E is amend...
Lockboxes; Lockbox Account; Collection Account. The Servicer shall not create or participate in the creation of, or solely in the case of the initial Servicer, permit to exist, any Liens (other than Permitted Liens) with respect to the Lockboxes, the Lockbox Account or the Collection Account. The Servicer shall not enter into any "control agreement" (as defined in the relevant UCC) with respect to the Lockboxes, the Lockbox Account (other than the Blocked Account Control Agreement) or the Collection Account (other than the Control Agreement). Without the prior written Consent of the Administrative Agent, the Servicer shall not move the Lockboxes, the Lockbox Account or the Collection Account to an institution other than the one at which it is held as of the Closing Date. (b) Change of Name or Location of Receivable Files. The initial Servicer shall not change its name or its state of organization, move the location of its principal place of business and chief executive office, and the offices where it keeps records concerning the Receivables (including the Receivable Files) from the location referred to in Section 13.02, unless the initial Servicer has given at least 30 days' prior written notice to the Administrative Agent and has taken all actions required under the UCC of each relevant jurisdiction in order to continue the first priority perfected security interest of the Administrative Agent, as agent for the Secured Parties, in the Collateral. (c)
Lockboxes; Lockbox Account; Collection Account
