Custody of Lease Documents and Certificates of Title Sample Clauses

Custody of Lease Documents and Certificates of Title. (a) To reduce administrative costs and ensure uniform quality in the servicing of the 2022-1 Leases and BMW FS’ own portfolio of leases, the Vehicle Trust hereby appoints the Servicer as its agent, bailee and custodian of the 2022-1 Leases, the certificates of title relating to the 2022-1 Vehicles, the insurance policies and insurance records and other documents related to the 2022-1 Leases and the related Lessees and 2022-1 Vehicles (collectively, the “Lease Files”). Such documents will not be physically segregated from other leases, certificates of title, insurance policies and insurance records or other documents related to other leases and vehicles owned or serviced by the Servicer, including leases and vehicles which are not part of the 2022-1 SUBI Assets. The accounting records and computer systems of BMW FS will reflect the allocation of the 2022-1 Leases and 2022-1 Vehicles to the 2022-1 SUBI, and the interest of the holders of the 2022-1 SUBI Certificate therein. The Servicer may appoint one or more agents to act as subcustodians of certain items relating to the 2022-1 Leases, the certificates of title relating to the 2022-1 Vehicles, the insurance policies and insurance records and other documents related to the 2022-1 Leases and the related Lessees and 2022-1 Vehicles so long as the Servicer remains primarily responsible for their safekeeping.
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Custody of Lease Documents and Certificates of Title. To reduce administrative costs and ensure uniform quality in the servicing of the 2011-1 Leases and BMW FS’ own portfolio of leases, the Trust hereby appoints the Servicer as its agent, bailee and custodian of the 2011-1 Leases, the certificates of title relating to the 2011-1 Vehicles, the insurance policies and insurance records and other documents related to the 2011-1 Leases and the related Lessees and 2011-1 Vehicles. Such documents will not be physically segregated from other leases, certificates of title, insurance policies and insurance records or other documents related to other leases and vehicles owned or serviced by the Servicer, including leases and vehicles which are not part of the 2011-1 SUBI Assets. The accounting records and computer systems of BMW FS will reflect the allocation of the 2011-1 Leases and 2011-1 Vehicles to the SUBI, and the interest of the holders of the SUBI Certificate therein. The Servicer may appoint one or more agents to act as subcustodians of certain items relating to the 2011-1 Leases, the certificates of title relating to the 2011-1 Vehicles, the insurance policies and insurance records and other documents related to the 2011-1 Leases and the related Lessees and 2011-1 Vehicles so long as the Servicer remains primarily responsible for their safekeeping.
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Custody of Lease Documents and Certificates of Title. (a) To reduce administrative costs and ensure uniform quality in the servicing of the 2015-2 Leases and BMW FS’ own portfolio of leases, the Trust hereby appoints the Servicer as its agent, bailee and custodian of the 2015-2 Leases, the certificates of title relating to the 2015-2 Vehicles, the insurance policies and insurance records and other documents related to the 2015-2 Leases and the related Lessees and 2015-2 Vehicles (collectively, the “Lease Files”). Such documents will not be physically segregated from other leases, certificates of title, insurance policies and insurance records or other documents related to other leases and vehicles owned or serviced by the Servicer, including leases and vehicles which are not part of the 2015-2 SUBI Assets. The accounting records and computer systems of BMW FS will reflect the allocation of the 2015-2 Leases and 2015-2 Vehicles to the SUBI, and the interest of the holders of the SUBI Certificate therein. The Servicer may appoint one or more agents to act as subcustodians of certain items relating to the 2015-2 Leases, the certificates of title relating to the 2015-2 Vehicles, the insurance policies and insurance records and other documents related to the 2015-2 Leases and the related Lessees and 2015-2 Vehicles so long as the Servicer remains primarily responsible for their safekeeping.
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Custody of Lease Documents and Certificates of Title. (a) To reduce administrative costs and ensure uniform quality in the servicing of the 20[__]-[__] Leases and BMW FS’ own portfolio of leases, the Trust hereby appoints the Servicer as its agent, bailee and custodian of the 20[__]-[__] Leases, the certificates of title relating to the 20[__]-[__] Vehicles, the insurance policies and insurance records and other documents related to the 20[__]-[__] Leases and the related Lessees and 20[__]-[__] Vehicles. Such documents will not be physically segregated from other leases, certificates of title, insurance policies and insurance records or other documents related to other leases and vehicles owned or serviced by the Servicer, including leases and vehicles which are not part of the 20[__]-[__] SUBI Assets. The accounting records and computer systems of BMW FS will reflect the allocation of the 20[__]-[__] Leases and 20[__]-[__] Vehicles to the SUBI, and the interest of the holders of the SUBI Certificate therein. The Servicer may appoint one or more agents to act as subcustodians of certain items relating to the 20[__]-[__] Leases, the certificates of title relating to the 20[__]-[__] Vehicles, the insurance policies and insurance records and other documents related to the 20[__]-[__] Leases and the related Lessees and 20[__]-[__] Vehicles so long as the Servicer remains primarily responsible for their safekeeping.
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Custody of Lease Documents and Certificates of Title. To reduce administrative costs and ensure uniform quality in the servicing of the 20[__]-[__] Leases and BMW FS’ own portfolio of leases, the Trust hereby appoints the Servicer as its agent, bailee and custodian of the 20[__]-[__] Leases, the certificates of title relating to the 20[__]-[__] Vehicles, the insurance policies and insurance records and other documents related to the 20[__]-[__] Leases and the related Lessees and 20[__]-[__] Vehicles. Such documents will not be physically segregated from other leases, certificates of title, insurance policies and insurance records or other documents related to other leases and vehicles owned or serviced by the Servicer, including leases and vehicles which are not part of the 20[__]-[__] SUBI Assets. The accounting records and computer systems of BMW FS will reflect the allocation of the 20[__]-[__] Leases and 20[__]-[__] Vehicles to the SUBI, and the interest of the holders of the SUBI Certificate therein. The Servicer may appoint one or more agents to act as subcustodians of certain items relating to the 20[__]-[__] Leases, the certificates of title relating to the 20[__]-[__] Vehicles, the insurance policies and insurance records and other documents related to the 20[__]-[__] Leases and the related Lessees and 20[__]-[__] Vehicles so long as the Servicer remains primarily responsible for their safekeeping.
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Related to Custody of Lease Documents and Certificates of Title

  • Certificates of Title Upon the request of Secured Party, if a certificate of title is issued or outstanding with respect to any Vehicle or other Collateral with a fair market value of at least $50,000, cause the Security Interest to be properly noted thereon.

  • Custody of Mortgage Documents Section 2.1. Custodian to Act as Agent;

  • Custody of Mortgage Loan Documents The originals of all of the Mortgage Loan Documents (other than the Non-Lead Securitization Note) (a) prior to the Lead Securitization will be held by the Initial Agent and (b) after the Lead Securitization, will be held by the Lead Securitization Note Holder (in the name of the Trustee and held by a duly appointed custodian therefor in accordance with the Lead Securitization Servicing Agreement), in each case, on behalf of the registered holders of the Notes.

  • Documents and Property All records, files, documents and other materials or copies thereof relating to the business of the Employer and its Affiliates, which Executive shall prepare, receive, or use, shall be and remain the sole property of the Employer and, other than in connection with performance by Executive of his duties hereunder, shall not be removed from the premises of the Employer or any of its Affiliates without the Employer’s prior written consent, and shall be promptly returned to the Employer upon Executive’s termination of employment together with all copies (including copies or recordings in electronic form), abstracts, notes or reproductions of any kind made from or about the records, files, documents or other materials.

  • Documents and Certificates GM shall have received such documents and certificates as GM or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower and each of the Guarantors, the authorization of the transactions under this Amendment and any other legal matters relating to the Borrower and each of the Guarantors, this Amendment or the transactions contemplated hereunder, all in form and substance reasonably satisfactory to GM and its counsel.

  • Documents of Title Not sign or authorize the signing of any financing statement or other document naming Borrower as debtor or obligor, or acquiesce or cooperate in the issuance of any xxxx of lading, warehouse receipt or other document or instrument of title with respect to any Collateral, except those negotiated to Lender, or those naming Lender as secured party, or if solely to create, perfect or maintain a Permitted Lien.

  • Delivery of Instruments, Securities, Chattel Paper and Documents Such Grantor will (a) deliver to the Administrative Agent promptly (but in any event within five Business Days) upon execution of this Security Agreement the originals of all Chattel Paper, Securities and Instruments constituting Collateral owned by it that on an individual basis bears a face amount of at least $5,000,000 (if any then exist), (b) hold in trust for the Administrative Agent upon receipt and promptly (but in any event within five Business Days) thereafter deliver to the Administrative Agent any such Chattel Paper, Securities and Instruments constituting Collateral owned by it that on an individual basis bears a face amount of at least $5,000,000, (c) promptly upon the Administrative Agent’s request, deliver to the Administrative Agent (and thereafter hold in trust for the Administrative Agent upon receipt and promptly (but in any event within five Business Days) deliver to the Administrative Agent) any Document evidencing or constituting Collateral that on an individual basis bears a face amount of at least $5,000,000 and (d) promptly upon the Administrative Agent’s request, deliver to the Administrative Agent a duly executed amendment to this Security Agreement, in the form of Exhibit A hereto (the “Amendment”), pursuant to which such Grantor will pledge such additional Collateral. Such Grantor hereby authorizes the Administrative Agent to attach each Amendment to this Security Agreement and agrees that all additional Collateral owned by it set forth in such Amendments shall be considered to be part of the Collateral.

  • Possession of Mortgage Loan Documents From and after the date of this Assignment, the Bank shall no longer hold the duly executed originals of the Mortgage Loan Documents on its own behalf or as custodian for Assignor, but shall hold the same as custodian for Assignee, pursuant to the terms of (i) the custodial agreement dated as of February 22, 2006 by and between the Bank and Assignee and (ii) the Amended and Restated Servicing Agreement dated as of June 28, 2005 by and between the Bank and Assignee.

  • Documents, Instruments, and Chattel Paper The Borrower represents and warrants to the Agent and the Lenders that (a) all documents, instruments, and chattel paper describing, evidencing, or constituting Collateral, and all signatures and endorsements thereon, are and will be complete, valid, and genuine, and (b) all goods evidenced by such documents, instruments, and chattel paper are and will be owned by the Borrower, free and clear of all Liens other than Permitted Liens.

  • Certificates and Documents The Company shall have delivered to the Purchasers:

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