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Title: |
Pooling and Servicing Agreement |
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Entities: |
Avaya Inc.; CIT Group Inc.; D Loren Robert W; Deutsche Bank Trust Company Americas; Lucent Technologies Inc.; Federal National Mortgage Association; McDermott, Will & Emery |
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Date: |
2006 |
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Size: |
Preview shows 29KB of 304KB total |
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Price: |
$73 |
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ID: |
#2646488 |
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Start of Preview |
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POOLING AND SERVICING AGREEMENT
among
CIT EQUIPMENT COLLATERAL 2006-VT2,
as Trust,
CIT FUNDING COMPANY, LLC,
as Depositor, and
CIT FINANCIAL USA, INC.,
in its individual capacity, and as Servicer
Dated as of October 1, 2006
TABLE OF CONTENTS
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ARTICLE I |
DEFINITIONS |
1 |
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Section 1.01 |
Definitions |
1 |
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Section 1.02 |
Usage of Terms |
37 |
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Section 1.03 |
Section References |
37 |
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Section 1.04 |
Accounting Terms |
37 |
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Section 1.05 |
Undefined Capitalized Terms |
37 |
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ARTICLE II |
FUNDINGS OF TRUST; TRANSFERS OF CONTRACTS |
37 |
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Section 2.01 |
Creation and Funding of Trust; Transfer of Transferred Assets to Trust |
37 |
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Section 2.02 |
Acceptance by Trust |
39 |
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Section 2.03 |
Conveyance of Substitute Contracts |
39 |
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Section 2.04 |
Release of Excluded Amounts |
40 |
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Section 2.05 |
Waiver |
41 |
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ARTICLE III |
REPRESENTATIONS AND WARRANTIES |
41 |
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Section 3.01 |
Representations and Warranties of CFUSA |
41 |
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Section 3.02 |
Representations and Warranties of the Depositor |
42 |
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Section 3.03 |
Representations and Warranties of the Servicer |
44 |
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ARTICLE IV |
PERFECTION OF TRANSFERS AND PROTECTION OF SECURITY INTERESTS |
46 |
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Section 4.01 |
Custody of Contracts |
46 |
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Section 4.02 |
Filings |
47 |
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Section 4.03 |
Name Change or Relocation |
47 |
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ARTICLE V |
SERVICING OF CONTRACTS |
48 |
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Section 5.01 |
Initial Servicers Appointment and Acceptance; Responsibility for Contract Administration |
48 |
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Section 5.02 |
General Duties |
48 |
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Section 5.03 |
Assignment or Replacement |
49 |
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Section 5.04 |
Disposition Upon Termination of Contract |
49 |
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Section 5.05 |
Subservicers |
49 |
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Section 5.06 |
Further Assurance |
50 |
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Section 5.07 |
Notice to Obligors |
50 |
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Section 5.08 |
Collection Efforts; Modification of Contracts |
50 |
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Section 5.09 |
Prepayments of Certain Contracts |
51 |
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Section 5.10 |
Certain Extensions; Acceleration |
51 |
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Section 5.11 |
Taxes and Other Amounts |
52 |
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Section 5.12 |
Suits by Servicer |
52 |
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Section 5.13 |
Remittances |
52 |
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TABLE OF CONTENTS
(continued)
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Section 5.14 |
Servicer Advances |
52 |
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Section 5.15 |
Realization Upon Defaulted Contract |
52 |
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Section 5.16 |
Maintenance of Insurance Policies |
53 |
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Section 5.17 |
Certain Other Duties With Respect to Trust |
53 |
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Section 5.18 |
Servicing Compensation |
53 |
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Section 5.19 |
Payment of Certain Expenses by Servicer |
53 |
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Section 5.20 |
Records |
54 |
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Section 5.21 |
Inspection |
54 |
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Section 5.22 |
Trust To Cooperate in Releases |
54 |
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Section 5.23 |
Separate Entity Existence |
55 |
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Section 5.24 |
Assignment of Servicing |
55 |
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Section 5.25 |
Optional Repurchase of Defaulted Contracts |
55 |
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ARTICLE VI |
COVENANTS OF THE DEPOSITOR |
55 |
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Section 6.01 |
LLC Existence |
55 |
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Section 6.02 |
Contracts Not to be Evidenced by Promissory Notes |
55 |
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Section 6.03 |
Security Interests |
55 |
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Section 6.04 |
Delivery of Collections |
56 |
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Section 6.05 |
Regulatory Filings |
56 |
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Section 6.06 |
Compliance With Law |
56 |
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Section 6.07 |
Activities |
56 |
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Section 6.08 |
Indebtedness |
56 |
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Section 6.09 |
Guarantees |
56 |
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Section 6.10 |
Investments |
57 |
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Section 6.11 |
Merger; Transfers |
57 |
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Section 6.12 |
Payments |
57 |
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Section 6.13 |
Other Agreements |
57 |
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Section 6.14 |
Separate Entity Existence |
57 |
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Section 6.15 |
Location; Records |
59 |
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Section 6.16 |
Liability of Depositor; Indemnities |
59 |
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Section 6.17 |
Bankruptcy Limitations |
61 |
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Section 6.18 |
Limitation on Liability of Depositor and Others |
61 |
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ARTICLE VII |
ESTABLISHMENT OF ACCOUNTS; PAYMENTS |
61 |
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Section 7.01 |
Trust Accounts; Collections |
61 |
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Section 7.02 |
Reserve Account |
62 |
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Section 7.03 |
Trust Account Procedures |
63 |
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Section 7.04 |
Securityholder Payments |
64 |
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Section 7.05 |
Allocations and Payments |
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