Common use of No Segregation of Monies; No Interest Clause in Contracts

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 2012-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A)

AutoNDA by SimpleDocs

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122021-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122018-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122019-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122021-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 2012-A 201[__]-[__] Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Daimler Trust), Trust Agreement (Daimler Trust)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122018-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122023-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122019-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122016-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 2012-A 20[__]-[_] Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Daimler Trust), Trust Agreement (Daimler Trust)

AutoNDA by SimpleDocs

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder may be held in a non-interest bearing trust account, need not be segregated in any manner except to the extent required by the 20122020-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 2 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122013-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2013-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122014-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2014-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122015-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2015-A)

No Segregation of Monies; No Interest. Subject to Section 5.01Sections 5.1 and 5.2, monies received by the Owner Trustee or the Paying Agent hereunder may be held in a non-interest bearing trust account and need not be segregated in any manner except to the extent required by law or the 2012-A Basic Documents or Applicable Law, Sale and Servicing Agreement and may be deposited under such general conditions as may be prescribed by Applicable Law law, and the Owner Trustee or the Paying Agent, as applicable, shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (CNH Equipment Trust 2024-A)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122015-A B Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2015-B)

No Segregation of Monies; No Interest. Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the 20122013-A Basic Documents or Applicable Law, and may be deposited under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

Appears in 1 contract

Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2013-A)

Time is Money Join Law Insider Premium to draft better contracts faster.