Common use of The Distribution Account Clause in Contracts

The Distribution Account. The Trustee, for the benefit of the Series 1997-3 Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, a non-interest bearing segregated account (the "Distribution Account") bearing a designation clearly indi- cating that the funds deposited therein are held in trust for the benefit of the Series 1997-3 Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-3 Certificateholders."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Inc)

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The Distribution Account. The Trustee, for the benefit of the Series 1997-3 5 Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, a non-interest bearing segregated account (the "Distribution Account") bearing a designation clearly indi- cating indicating that the funds deposited therein are held in trust for the benefit of the Series 1997-3 5 Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-3 5 Certificateholders."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust)

The Distribution Account. The Trustee, for the benefit of the Series 1997-3 Investor Certificateholders, shall cause to be established and maintained in the name of the TrustTrustee, with an office or branch of a Qualified Institution (other than BANA, BACCS, or the Transferor), which shall initially be the Paying Agent, a non-interest non‑interest bearing segregated trust account (the "Distribution Account") bearing a designation clearly indi- cating indicating that the funds deposited therein are held in trust for the benefit of the Series 1997-3 Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and exclusive control of the Trustee for the benefit of the Series 1997-3 Investor Certificateholders."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BA Master Credit Card Trust II)

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The Distribution Account. The Trustee, for the benefit of the Series 1997-3 4 Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, a non-interest bearing segregated account (the "Distribution Account") bearing a designation clearly indi- cating that the funds deposited therein are held in trust for the benefit of the Series 1997-3 4 Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-3 4 Certificateholders."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Inc)

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