Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the Reset Rate Notes then bearing interest at a fixed rate (including, without limitation, the Reset Rate Notes that bears a fixed rate of interest during its respective initial Reset Period until and including the related Initial Reset Date), principal allocated to the Reset Rate Notes pursuant to Section 2.8(f) above will be deposited into the Accumulation Account.
Accumulation Account. The Account Bank confirms that it has opened the Accumulation Account in the name of and for the benefit of the Issuer with IBAN: XX00XXXX00000000000000 which is subject to English law and denominated in Sterling. The Accumulation Account is a cash only account and may not go into overdraft.
Accumulation Account. Series 2016-C [Insert columns for other Series]
Accumulation Account. The Issuer will on the date of this Agreement establish at the Account Bank the Accumulation Account to collect during the Revolving Period payments as set forth in the ninth item and tenth item of the Order of Priority according to clause 20.3(a). During the Revolving Period, amounts on deposit in the Accumulation Account shall be used by the Issuer for the purchase of Additional Receivables from VWFS according to the terms for the purchase of Additional Receivables as set forth in clause 4 (Sales of Additional Receivables) of the Receivables Purchase Agreement. Upon the occurrence of an Early Amortisation Event, an Enforcement Event or the end of the Revolving Period, the Accumulation Account shall be closed on the subsequent Payment Date and any amounts on deposit in the Accumulation Account (other than interest earned on the Accumulation Account) shall be transferred on the subsequent Payment Date to the Distribution Account.
Accumulation Account. On or before each Payment Date related to the Revolving Period and on the first Distribution Date during the Amortization Period, to the extent not used to purchase Receivables pursuant to Section 2.03, the Servicer will instruct the Indenture Trustee to transfer all amounts in the Accumulation Account to the Collection Account.]
Accumulation Account. Series 2017-A [Insert columns for other Series]
Accumulation Account. We authorize you as our agent and attorney in fact and as Depositors to purchase and accumulate Debt Obligations for deposit in the Trust. Debt Obligations so purchased shall be deposited in an "Accumulation Account" and shall hereafter be referred to as the "Underlying Debt Obligations." The Underlying Debt Obligations shall consist of obligations of the type and quality described in the Prospectus. We agree that you shall have no liability with respect to the issue, form, validity, legality, enforceability, value of, tax status or title to the Underlying Debt Obligations. We authorize you to execute on our behalf an appropriate "investment letter" with respect to any Underlying Debt Obligations purchased on a private placement basis. You are authorized to sell, exchange or otherwise dispose of Underlying Debt Obligations from the Accumulation Account, including those Underlying Debt Obligations purchased for the Accumulation Account but not deposited in the Trust, for such consideration as you shall deem appropriate and in the best interests of the Accumulation Account. All profits and losses from such transactions shall be included in the final computation of profit and losses of the Accumulation Account. All profits and losses from the purchase, accumulation and deposit of the Underlying Debt Obligations in the Trust, adjusted to reflect expenses and carrying charges, shall be recorded in the Accumulation Account and shall be shared among the Underwriters in accord with their respective elections set forth in Schedule B. In addition, you are authorized to deduct from the Accumulation Account the costs of any advertising that you purchase on behalf of you and all the Underwriters in accordance with Section 15 hereof. As Depositors, you shall be entitled to all remaining profit and, correspondingly, shall be obligated for all losses of the Accumulation Account not expressly allocated among the Underwriters in accord with such elections. We authorize you to purchase Underlying Debt Obligations for the Accumulation Account from any seller, including you and any of the Underwriters. Such purchases may be at the current market price then in effect (as reasonably determined by you); provided, however, if any Underwriter is a member of a syndicate underwriting an original issue and is prohibited by price restrictions of the syndicate from reselling Debt Obligations at less than a certain price, then the purchase C/M 11939.0001 406222.1 4 price of such Underlyi...
Accumulation Account. A. On the Closing Date, with respect to the Class A-5A, Class A-5B and Class A-5D Notes, and, if, on any Reset Date thereafter, one or more classes of Reset Rate Notes are reset (or continue) to bear interest at a fixed rate during the upcoming related Reset Period, the Trust shall establish or maintain an Accumulation Account for such class of Reset Rate Notes.
Accumulation Account. If the Executive has a (i) Separation from Service, other than pursuant to Section 6 of this Agreement (ii) dies, or (iii) becomes Disabled prior to attaining the maximum Accumulation Account balance specified in Section 3 of this Agreement, she will be entitled to only the Accumulation Account as determined in Section 2 of this Agreement.
Accumulation Account. In connection with the issuance of any Class A Certificates that are subject to an Accumulation Period, the Trustee may establish and maintain with a Qualified Institution, which may be the Trustee, in the name of the Trust, on behalf of the Trust, for the benefit of the Certificateholders, a segregated trust account (an "Accumulation Account") to provide for the payment of the Class A Invested Amount.
