Establishment of Deposit Account. (a) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the "Deposit Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders. The Servicer shall establish the Reserve Account as part of the Deposit Account.
Appears in 14 contracts
Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2001 B), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2000 B), Sale and Servicing Agreement (Daimlerchrysler Services North America LLC)
Establishment of Deposit Account. (a) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the "Deposit Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders. The Servicer shall establish the Note Principal Distribution Account and the Reserve Account as subaccounts that are part of the Deposit Account.
Appears in 14 contracts
Samples: Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2006-C), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2005-B), Sale and Servicing Agreement (Daimlerchrysler Services North America LLC)
Establishment of Deposit Account. (a) The Servicer, for the benefit of the Noteholders and the CertificateholdersNoteholders, shall establish cause to be established and maintain maintained in the name of the Indenture Trustee an Eligible Deposit Account (the "“Deposit Account"”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the CertificateholdersNoteholders. The Servicer shall establish cause to be established the Note Principal Distribution Account and the Reserve Account as part of and shall name such accounts subaccounts to the Deposit Account.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Form of Sale and Servicing Agreement (Chrysler Financial Services Americas LLC)
Establishment of Deposit Account. (a) The Servicer, for the benefit of the Noteholders and the CertificateholdersHedge Counterparty, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the "“Deposit Account"”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the CertificateholdersHedge Counterparty. The Servicer shall establish the Note Principal Distribution Account and the Reserve Account as subaccounts that are part of the Deposit Account.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-B), Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2007-A)
Establishment of Deposit Account. (a) The Servicer, for the benefit of the Noteholders and the CertificateholdersHedge Counterparty, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the "“Deposit Account"”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the CertificateholdersHedge Counterparty. The Servicer shall establish the Note Principal Distribution Account and the Reserve Account as part of and shall name such accounts subaccounts to the Deposit Account.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-A)
