Spread Account. (a) The Spread Account will be held for the benefit of the Noteholders and the Insurer. On the Closing Date, the Seller shall deposit into the Spread Account an amount equal to the Initial Cash Deposit from the proceeds of the sale of the Notes.
Appears in 14 contracts
Samples: Sale and Servicing Agreement (Onyx Acceptance Owner Trust 2005-B), Sale and Servicing Agreement (Onyx Acceptance Owner Trust 2005-A), Sale and Servicing Agreement (Onyx Acceptance Financial Corp)
Spread Account. (a) The Spread Account will be held for the benefit of the Noteholders and the Insurer. On or prior to the Closing Date, the Seller Issuer shall deposit into the Spread Account or cause to have deposited an amount equal to the Spread Account Initial Cash Deposit into the Spread Account from the net proceeds of the sale of the Notes.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Auto Nations Receivables Corp), Sale and Servicing Agreement (Auto Nations Receivables Corp), Sale and Servicing Agreement (Auto Nations Receivables Corp)
Spread Account. (a) On or prior to the Closing Date, the Seller shall deposit the Spread Account Initial Deposit into the Spread Account. The Spread Account will be held for the benefit of the Noteholders Securityholders and the Insurer. On Insurer in order to effectuate the Closing Date, subordination of the Seller shall deposit into rights of the Spread Account an amount equal Securityholders to the Initial Cash Deposit from the proceeds of the sale of the Notesextent described above.
Appears in 1 contract
Samples: Sale and Servicing Agreement (WFS Receivables Corp 2)
