Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a Collateral Account will not be subject to deduction, set-off, recoupment, banker’s lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.
Appears in 103 contracts
Samples: Account Control Agreement (Ford Credit Auto Owner Trust 2022-A), Account Control Agreement (Ford Credit Auto Owner Trust 2022-A), Titling Company Account Control Agreement (Ford Credit Auto Lease Trust 2021-B)
Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a the Collateral Account will not be subject to deduction, set-off, recoupment, banker’s lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.
Appears in 27 contracts
Samples: Account Control Agreement (Ford Credit Auto Lease Trust 2023-A), Account Control Agreement (Ford Credit Auto Lease Trust 2023-A), Account Control Agreement (Ford Credit Auto Lease Trust 2021-B)
Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a Collateral Account will not be subject to deduction, set-off, recoupment, banker’s 's lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.
Appears in 12 contracts
Samples: Account Control Agreement (Ford Credit Auto Owner Trust 2023-A), Account Control Agreement (Ford Credit Auto Owner Trust 2023-A), Titling Company Account Control Agreement (Ford Credit Auto Lease Trust 2023-A)
Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a Collateral Account will not be subject to deduction, set-off, recoupment, banker’s 's lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the a Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the a Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the a Collateral Account.
Appears in 10 contracts
Samples: Account Control Agreement (Ford Credit Auto Owner Trust 2024-A), Account Control Agreement (Ford Credit Auto Owner Trust 2024-A), Titling Company Account Control Agreement (Ford Credit Auto Lease Trust 2024-A)
Set-off and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a the Collateral Account will not be subject to deduction, set-off, recoupment, banker’s 's lien, or other right in favor of a Person other than the Secured Party. However, the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.
Appears in 7 contracts
Samples: Account Control Agreement (Ford Credit Auto Lease Trust 2024-A), Account Control Agreement (Ford Credit Auto Lease Trust 2024-A), Account Control Agreement (Ford Credit Auto Lease Trust 2023-B)