Common use of Trustee to Cooperate Clause in Contracts

Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Contract, the Servicer will notify the Trustee by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Contract to the Servicer in accordance with Section 1.3 of the Custodian Agreement. Upon receipt of such delivery request, the Custodian shall, within 7 days of such request by the Servicer, release such Contract to the Servicer in accordance with the Custodian Agreement. Upon release of such Contract, the Servicer is authorized to execute an instrument in satisfaction of such Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor thereunder and, if applicable, release any security interest in the Credits related thereto. The Servicer shall determine when a Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the Indenture, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the Noteholders' rights and remedies with respect to Contracts.

Appears in 3 contracts

Samples: Servicing Agreement (Trendwest Resorts Inc), Servicing Agreement (Trendwest Resorts Inc), Servicing Agreement (Trendwest Resorts Inc)

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Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Lease Contract, the Servicer will notify the Trustee on the next succeeding Determination Date by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Collection Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Lease Contract to the Servicer in accordance with Section 1.3 of the Custodian AgreementServicer. Upon receipt of such delivery request, the Custodian shall, Trustee shall within 7 days of such request by the Servicer, Servicer release such Lease Contract to the Servicer in accordance with the Custodian AgreementServicer. Upon release of such Lease Contract, the Servicer is authorized to execute an instrument in satisfaction of such Lease Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor Customer thereunder and, if applicable, release any security interest in the Credits Equipment related thereto. The Servicer shall determine when a Lease Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the IndentureTrust and Security Agreement, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the NoteholdersCertificateholders' rights and remedies with respect to Lease Contracts.

Appears in 2 contracts

Samples: Servicing Agreement (Granite Financial Inc), Servicing Agreement (Granite Financial Inc)

Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Contract, Contract the Servicer will notify the Trustee by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Local Bank Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the such Contract to the Servicer in accordance with Section 1.3 of the Custodian Agreement. Upon receipt of such delivery request, the Custodian shall, within 7 days of such request by the Servicer, release such Contract to the Servicer in accordance with the Custodian Agreement. Upon release of such Contract, the Servicer is authorized to execute an instrument in satisfaction of such Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor thereunder and, if applicable, release any security interest in the Credits Related Security related thereto. The Servicer shall determine when a Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the Indenture, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the Noteholders' rights and remedies with respect to Contracts.

Appears in 2 contracts

Samples: Servicing Agreement (Trendwest Resorts Inc), Servicing Agreement (Trendwest Resorts Inc)

Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Lease Contract, the Servicer will notify the Trustee on the next succeeding Determination Date by written certification (which certification certificate shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Collection Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Lease Contract to the Servicer in accordance with Section 1.3 of the Custodian Agreementapplicable provisions. Upon receipt of such delivery request, the Custodian shall, Trustee shall within 7 60 days of such request by the Servicer, Servicer release such Lease Contract to the Servicer in accordance with the Custodian Agreementapplicable provisions. Upon release of such Lease Contract, the Servicer is authorized to execute an instrument in satisfaction of such Lease Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor Customer thereunder and, if applicable, release any security interest in the Credits Equipment or Leased Vehicle related thereto. The Servicer shall determine when a Lease Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the IndentureTrust and Security Agreement, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the NoteholdersCertificateholders' and the Bond Insurer's rights and remedies with respect to Lease Contracts.

Appears in 1 contract

Samples: Servicing Agreement (T&w Financial Corp)

Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Lease Contract, the Servicer will notify the Trustee by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Collection Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Lease Contract to the Servicer in accordance with Section 1.3 of the Custodian AgreementServicer. Upon receipt of such delivery request, the Custodian Trustee shall, within 7 seven (7) days of such request request, in proper form, by the Servicer, release such Lease Contract to the Servicer in accordance with the Custodian AgreementServicer. Upon release of such Lease Contract, the Servicer is authorized to execute an instrument in satisfaction of such Lease Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor Customer thereunder and, if applicable, release any security interest in the Credits Equipment related thereto. The Servicer shall determine when a Lease Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the Indenture, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the Noteholders' rights and remedies with respect to Lease Contracts. Subject to the terms of the Indenture, the Trustee has no liability for the acts of the Servicer hereunder.

Appears in 1 contract

Samples: Servicing Agreement (Sunrise Resources Inc\mn)

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Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Lease Contract, the Servicer will notify the Trustee on the next succeeding Determination Date by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Collection Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Lease Contract to the Servicer in accordance with Section 1.3 of the Custodian AgreementServicer. Upon receipt of such delivery request, the Custodian shall, Trustee shall within 7 days of such request by the Servicer, Servicer release such Lease Contract to the Servicer in accordance with the Custodian AgreementServicer. Upon release of such Lease Contract, the Servicer is authorized to execute an instrument in satisfaction of such Lease Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor Customer thereunder and, if applicable, release any security interest in the Credits Equipment related thereto. The Servicer shall determine when a Lease Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the IndentureTrust and Security Agreement, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the NoteholdersCertificateholders' rights and remedies with respect to Lease Contracts.. ARTICLE 5 THE SERVICER Section 5.01

Appears in 1 contract

Samples: Servicing Agreement (Granite Financial Inc)

Trustee to Cooperate. Upon payment (including through application of any prepayment) in full of any Contract, the Servicer will notify the Trustee by written certification (which certification shall include a statement to the effect that all amounts received in connection with such payments in full which are required to be deposited in the Clearing Local Bank Account pursuant to Section 3.03 hereof have been so deposited) of a Servicing Officer and shall request delivery of the Contract to the Servicer in accordance with Section 1.3 of the Custodian Collateral Agent Agreement. Upon receipt of such delivery request, the Custodian Collateral Agent shall, within 7 days of such request by the Servicer, release such Contract to the Servicer in accordance with the Custodian Collateral Agent Agreement. Upon release of such Contract, the Servicer is authorized to execute an instrument in satisfaction of such Contract and to do such other acts and execute such other documents as it deems necessary to discharge the Obligor thereunder and, if applicable, release any security interest in the Vacation Credits related thereto. The Servicer shall determine when a Contract has been paid in full. Upon the written request of a Servicing Officer and subject to the Trustee's rights to indemnity contained herein and in the Indenture, the Trustee shall perform such other acts as reasonably requested in writing by the Servicer and otherwise cooperate with the Servicer in enforcement of the Noteholders' rights and remedies with respect to Contracts.

Appears in 1 contract

Samples: Servicing Agreement (Trendwest Resorts Inc)

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