Common use of Certificateholders Clause in Contracts

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the “Pre-Funding Account.” In addition, after five days notice to the Trustee, the Seller may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be, for the Series 2007-1 Certificates, the “Pre-Funding Account.” The Trustee, at the direction of the Servicer, shall make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s or Trustee’s duties hereunder.

Appears in 2 contracts

Samples: Servicing Agreement (Alliance Data Systems Corp), Pooling and Servicing Agreement (Charming Shoppes Inc)

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Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days days' notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be, for the Series 20071999-1 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be, for the Series 20071997-1 2 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Metris Receivables Inc), Pooling and Servicing Agreement (Metris Receivables Inc)

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Pre- Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Pre- Funding Account is established, it shall be, for the Series 20071996-1 2 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days days' notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Pre- Funding Account is established, it shall be, for the Series 20071998-1 2 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

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Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days days" notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be, for the Series 20071998-1 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Floorplan Recievables Master Trust)

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days days' notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Pre- Funding Account is established, it shall be, for the Series 20072001-1 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Floorplan Recievables Master Trust)

Certificateholders. If, at any time, the institution holding the Pre-Funding Account ceases to be a Qualified Depository Institution, the Seller Transferor shall direct the Servicer to establish within 10 Business Days a new Pre-Funding Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be the "Pre-Funding Account." In addition, after five days days' notice to the Trustee, the Seller Transferor may direct the Servicer to establish a new Pre-Funding Account meeting the conditions specified above with a different Qualified Depository Institution, transfer any cash and/or investments to such new Pre-Funding Account and from the date such new Pre-Funding Account is established, it shall be, for the Series 20071998-1 2 Certificates, the "Pre-Funding Account.” The " Pursuant to the authority granted to the Servicer in subsection 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, at to make withdrawals and payments or to instruct the direction of the Servicer, shall Trustee to make withdrawals and payments from the Pre-Funding Account for the purposes of carrying out the Servicer’s 's or Trustee’s 's duties hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

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