Common use of The Finance Charge and Principal Accounts Clause in Contracts

The Finance Charge and Principal Accounts. The Trustee, for the ----------------------------------------- benefit of the Investor Certificateholders, shall establish and maintain in the State of New York with the Paying Agent in the name of the Trust two Eligible Deposit Accounts (the "Finance Charge Account" and the "Principal Account", ---------------------- ----------------- respectively), bearing a designation clearly indicating that the funds therein are held for the benefit of the Investor Certificateholders; provided, however, -------- ------- that each of such accounts may be established as sub-accounts of the Collection Account. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account and the Principal Account and in all proceeds thereof. The Finance Charge Account and the Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders. Pursuant to authority granted to it hereunder, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Finance Charge Account and Principal Account for the purpose of carrying out the Servicer's duties hereunder. The Trustee at all times shall maintain accurate records reflecting each transaction in the Principal Account and the Finance Charge Account and that funds held therein shall at all times be held in trust for the benefit of the Investor Certificateholders.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa), Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

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The Finance Charge and Principal Accounts. The Trustee, for the ----------------------------------------- benefit of the Investor CertificateholdersSecured Parties, shall establish and maintain in the State of New York city in which the Corporate Trust Office is located, with the Paying Agent a Qualified Institution, in the name of the Trust Trustee, two Eligible Deposit Accounts non-interest bearing segregated trust accounts (the "Finance Charge Account" and the "Principal Account", ---------------------- ----------------- " respectively), each bearing a designation clearly indicating that the funds therein are held for the benefit of the Investor Certificateholders; provided, however, -------- ------- that each of such accounts may be established as sub-accounts of the Collection AccountSecured Parties. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account and the Principal Account and in all proceeds thereof. The Trustee shall be the entitlement holder of both the Finance Charge Account and the Principal Account and, subject to the next sentence, the Finance Charge Account and the Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor CertificateholdersSecured Parties. Pursuant to authority granted to it hereunderhereunder and in the Servicing Agreement, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Finance Charge Account and Principal Account for the purpose of carrying out the Servicer's duties hereunderunder the Servicing Agreement. The Trustee at all times shall maintain accurate records reflecting each transaction in the Principal Account and the Finance Charge Account and that funds held therein shall at all times be held in trust for the benefit of the Investor CertificateholdersSecured Parties.

Appears in 1 contract

Samples: Indenture (Conns Inc)

The Finance Charge and Principal Accounts. The Trustee, for the ----------------------------------------- benefit of the Investor Series 1999-_ Certificateholders, shall establish and maintain in the State of New York with the Paying Agent in the name of the Trust with a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, two Eligible Deposit Accounts segregated trust accounts (the "Finance Charge Account" and the "Principal Account", ---------------------- ----------------- ," respectively), bearing a designation clearly indicating that the funds therein are held for the benefit of the Investor Series 1999-_ Certificateholders; provided, however, -------- ------- that each of such accounts may be established as sub-accounts of the Collection Account. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account and the Principal Account and in all proceeds thereof. The Finance Charge Account and the Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Series 1999-_ Certificateholders. Pursuant to authority granted to it hereunder, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Finance Charge Account and the Principal Account for the purpose of carrying out the Servicer's or the Trustee's duties hereunder. The Trustee at all times shall maintain accurate records copies of all written reports and instructions that it receives reflecting each transaction in the Principal Account and the Finance Charge Account and that funds held therein shall at all times be held in trust for the benefit of the Investor Series 1999-_ Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust)

The Finance Charge and Principal Accounts. The Trustee, for the ----------------------------------------- --------------------------------------------------------------- benefit of the Investor Series 1998-6 Certificateholders, shall establish and maintain in the State of New York with the Paying Agent in the name of the Trust with a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, two Eligible Deposit Accounts segregated trust accounts (the "Finance Charge Account" and the ------------------------ "Principal Account", ---------------------- ----------------- ," respectively), bearing a designation clearly -------------------- indicating that the funds therein are held for the benefit of the Investor Series 1998-6 Certificateholders; provided, however, -------- ------- that each of such accounts may be established as sub-accounts of the Collection Account. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account and the Principal Account and in all proceeds thereof. The Finance Charge Account and the Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Series 1998-6 Certificateholders. Pursuant to authority granted to it hereunder, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Finance Charge Account and the Principal Account for the purpose of carrying out the Servicer's or the Trustee's duties hereunder. The Trustee at all times shall maintain accurate records copies of all written reports and instructions that it receives reflecting each transaction in the Principal Account and the Finance Charge Account and that funds held therein shall at all times be held in trust for the benefit of the Investor Series 1998-6 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust)

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The Finance Charge and Principal Accounts. The Trustee, for the ----------------------------------------- ------------------------------------------ benefit of the Investor Series 1998-8 Certificateholders, shall establish and maintain in the State of New York with the Paying Agent in the name of the Trust with a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, two Eligible Deposit Accounts segregated trust accounts (the "Finance Charge Account" and the -------- ------ -------- "Principal Account", ---------------------- ----------------- ," respectively), bearing a designation clearly ---------- -------- indicating that the funds therein are held for the benefit of the Investor Series 1998-8 Certificateholders; provided, however, -------- ------- that each of such accounts may be established as sub-accounts of the Collection Account. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account and the Principal Account and in all proceeds thereof. The Finance Charge Account and the Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Series 1998-8 Certificateholders. Pursuant to authority granted to it hereunder, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Finance Charge Account and the Principal Account for the purpose of carrying out the Servicer's or the Trustee's duties hereunder. The Trustee at all times shall maintain accurate records copies of all written reports and instructions that it receives reflecting each transaction in the Principal Account and the Finance Charge Account and that funds held therein shall at all times be held in trust for the benefit of the Investor Series 1998-8 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust)

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