No Bond Required of Trustees Sample Clauses

No Bond Required of Trustees. No Trustee shall, as such, be obligated to give any bond or other security for the performance of any of his duties hereunder.
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No Bond Required of Trustees. No bond or other security shall be required of any trustee for the due performance of his duties hereunder unless a majority of the trustees shall from time to time determine otherwise.

Related to No Bond Required of Trustees

  • Maintenance of Security Interests in Financed Vehicles The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason.

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