Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture.
Appears in 15 contracts
Samples: Trust Agreement (Mmca Auto Owner Trust 2001-3), Trust Agreement (Mmca Auto Owner Trust 2001-3), Trust Agreement (Mmca Auto Receivables Trust)
Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee at which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture.
Appears in 6 contracts
Samples: Trust Agreement (Mmca Auto Receivables Trust), Trust Agreement (Mmca Auto Receivables Inc), Trust Agreement (Mmca Auto Receivables Trust)
Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e4.1(c) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture.
Appears in 4 contracts
Samples: Trust Agreement (Mmca Auto Owner Trust 2001-1), Trust Agreement (Mmca Auto Owner Trust 2001-1), Trust Agreement (Mmca Auto Owner Trust 2001 2)
Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee at which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture.. SECTION 5.2
Appears in 1 contract
Samples: Mmca Auto Receivables Inc
Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e4.1(c) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee at which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture.
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Establishment of Certificate Distribution Account. Pursuant to Section 4.1(e4.1(c) of the Sale and Servicing Agreement, there has been established and there shall be maintained a segregated trust account in the name of the Owner Trustee at which shall be designated as the "Certificate Distribution Account." The Certificate Distribution Account shall be held in trust in the name of the Owner Trustee for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement and the Sale and Servicing Agreement or the Indenture. SECTION 5.2.
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