Common use of Accounts; Deposits to and Distributions from Accounts Clause in Contracts

Accounts; Deposits to and Distributions from Accounts. On or before the Effective Date, the Issuer will cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection Account") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. All Collections received from the CARCO Trust pursuant to Article V of the Pooling and Servicing Agreement as supplemented by the Series 2002-CC Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series or class of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The Collection Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured Parties. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will be the "Collection Account." Supplemental Accounts will be created as specified in the applicable Indenture Supplement. Any Supplemental Account will receive deposits as set forth in the applicable Indenture Supplement.

Appears in 4 contracts

Samples: Indenture (Daimlerchrysler Master Owner Trust), Pooling and Servicing Agreement (Daimlerchrysler Wholesale Receivables LLC), Indenture (Daimlerchrysler Wholesale Receivables LLC)

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Accounts; Deposits to and Distributions from Accounts. On or ----------------------------------------------------- before the Effective Date, the Issuer will cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection Account") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative CounterpartyNoteholders. All Collections collections received from the CARCO Master Trust pursuant to Article V Section ------- 5.01 of the Pooling and Servicing Agreement as supplemented by the Series 2002-CC 2001- ---- __ Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series series, class or class tranche of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The Collection ------------ -------- Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured PartiesNoteholders. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will be the "Collection Account." Supplemental Accounts will be created as specified in the applicable Indenture SupplementSupplement or terms document. Any Supplemental Account will receive deposits as set forth in the applicable Indenture SupplementSupplement or terms document.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mbna Credit Card Master Note Trust)

Accounts; Deposits to and Distributions from Accounts. On or before the Effective Date, the Issuer will shall cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection Account") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. All Collections collections received from the CARCO Master Trust pursuant to Article V Section 5.01 of the Pooling and Servicing Agreement as supplemented by the Series 20022004-CC MC Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series or class of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The Collection Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured PartiesIndenture Trustee, the Noteholders and any applicable Derivative Counterparty. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will shall within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will shall be the "Collection Account." Supplemental Accounts will shall be created as specified in the applicable Indenture Supplement. Any Supplemental Account will shall receive deposits as set forth in the applicable Indenture Supplement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Accounts; Deposits to and Distributions from Accounts. On or ----------------------------------------------------- before the Effective Date, the Issuer will cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection ---------- Account") in the name of the Indenture Trustee, bearing a designation clearly ------- indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative CounterpartySecured Parties. All Collections collections received from the CARCO Master Trust pursuant to Article V Section 5.01 of the Pooling and Servicing Agreement as supplemented by the ------------ Series 2002-CC 2001-__ Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series series, class or class tranche of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The --------------------- Collection Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured Parties. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will be the "Collection Account." Supplemental Accounts will be created as specified in the applicable Indenture SupplementSupplement or terms document. Any Supplemental Account will receive deposits as set forth in the applicable Indenture SupplementSupplement or terms document.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mbna Credit Card Master Note Trust)

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Accounts; Deposits to and Distributions from Accounts. On or before the Effective Date, the Issuer will shall cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection Account") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. All Collections collections received from the CARCO Master Trust pursuant to Article V Section 5.01 and 5.02 of the Pooling and Servicing Agreement as supplemented by the Series 20022004-CC MC Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series or class of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The Collection Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured PartiesIndenture Trustee, the Noteholders and any applicable Derivative Counterparty. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will shall within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will shall be the "Collection Account." Supplemental Accounts will shall be created as specified in the applicable Indenture Supplement. Any Supplemental Account will shall receive deposits as set forth in the applicable Indenture Supplement.

Appears in 1 contract

Samples: Master Note Trust (Mellon Premium Finance Loan Owner Trust)

Accounts; Deposits to and Distributions from Accounts. On or before the Effective Date, the Issuer will cause to be established and maintained one or more Qualified Accounts (collectively, the "Collection Account") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. All Collections collections received from the CARCO Master Trust pursuant to Article V Section 5.01 of the Pooling and Servicing Agreement as supplemented by the Series 20022001-CC D Supplement shall be deposited into the Collection Account. From time to time in connection with the issuance of a series series, class or class tranche of Notes, the Indenture Trustee may establish one or more Qualified Accounts denominated as "Supplemental Accounts" in the name of the Indenture Trustee. The Collection Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured PartiesIndenture Trustee, the Noteholders and any applicable Derivative Counterparty. If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account that is a Qualified Account and shall transfer any cash and/or investments to such new Collection Account. From the date such new Collection Account is established, it will be the "Collection Account." Supplemental Accounts will be created as specified in the applicable Indenture Supplement. Any Supplemental Account will receive deposits as set forth in the applicable Indenture Supplement.

Appears in 1 contract

Samples: Indenture (BA Credit Card Trust)

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