Common use of Benefit of Accounts; Deposits and Withdrawals Clause in Contracts

Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts and all cash, money, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts will be made according to the Transaction Documents.

Appears in 40 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2016-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2017-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2018-B)

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Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts Collection Account and the Reserve Account and all cash, moneyamounts, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the IndentureNotes, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts Collection Account, the Principal Payment Account and the Reserve Account will be made according to in accordance with the Transaction Documents.

Appears in 30 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2011-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2012-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2014-C)

Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts and all cash, money, securities, investments, financial assets and other property deposited in or credited to them will be held by the Note Paying Agent for the benefit of the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts will be made according to the Transaction Documents.

Appears in 24 contracts

Samples: Transfer and Servicing Agreement (Verizon ABS LLC), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B)

Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts Collection Account and the Reserve Account and all cash, moneyamounts, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the IndentureNotes, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts Collection Account, Principal Payment Account and the Reserve Account will be made according to in accordance with the Transaction Basic Documents.

Appears in 9 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-C)

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Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts Collection Account and the Reserve Account and all cash, moneyamounts, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the IndentureNotes, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts Collection Account, the Principal Payment Account and the Reserve Account will be made according to in accordance with the Transaction Basic Documents.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2010-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2008-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2009-E)

Benefit of Accounts; Deposits and Withdrawals. The Bank Accounts and all cash, money, securities, investments, financial assets and other property deposited in or credited to them will be held maintained by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Bank Accounts will be made according to the Transaction Documents.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2022-B)

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