Establishment of Trust Accounts. (a) The Owner Trustee, for the benefit of the Certificateholder, shall cause the Certificate Paying Agent to establish and maintain in the name of the Trust a distribution non-interest bearing account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholder. The Certificate Distribution Account shall be maintained as an Eligible Deposit Account.
Appears in 82 contracts
Samples: Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2019-2), Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2018-4), Trust Agreement (AFS SenSub Corp.)
Establishment of Trust Accounts. (a) The Owner TrusteeCertificate Paying Agent, for the benefit of the CertificateholderCertificateholders, shall cause the Certificate Paying Agent to establish and maintain in the name of the Trust a distribution non-interest bearing bearing, uninvested account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the CertificateholderCertificateholders. The Certificate Distribution Account shall be maintained as an Eligible Deposit Account.
Appears in 33 contracts
Samples: Trust Agreement (Exeter Automobile Receivables Trust 2023-2), Trust Agreement (Exeter Automobile Receivables Trust 2022-1), Trust Agreement (Exeter Automobile Receivables Trust 2021-4)
Establishment of Trust Accounts. (a) The Owner Trustee, for the benefit of the CertificateholderCertificateholders, shall cause the Certificate Paying Agent to establish and maintain in the name of the Trust a distribution non-interest bearing account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the CertificateholderCertificateholders. The Certificate Distribution Account shall be maintained as an Eligible Deposit Account.
Appears in 14 contracts
Samples: Trust Agreement (AmeriCredit Automobile Receivables Trust 2011-3), Trust Agreement (AmeriCredit Automobile Receivables Trust 2011-2), Trust Agreement (Americredit Automobile Receivables Trust 2011-5)
Establishment of Trust Accounts. (a) The Owner TrusteeCertificate Paying Agent, for the benefit of the CertificateholderCertificateholders, shall cause the Certificate Paying Agent to establish and maintain in the name of the Trust a distribution non-interest bearing account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the CertificateholderCertificateholders. The Certificate Distribution Account shall be maintained as an Eligible Deposit Account.
Appears in 1 contract
Samples: Trust Agreement (Efcar, LLC)
