Transaction Accounts. (a) On or prior to the Closing Date, the Servicer on behalf of the Issuer shall establish and maintain, in the name of the Trustee, for the benefit of the Noteholders, and the Certificateholder, the Transaction Accounts (other than the Principal and Interest Accounts which shall be in the name of the Servicer) as provided in Section 7.01 of the Sale and Servicing Agreement.
Transaction Accounts. The Securities Intermediary shall establish and maintain as required therein or herein, as applicable, the Collection Account, the Reserve Account and the Distribution Account specified in Sections 7.01, 7.02 and 7.03 of the Sale and Servicing Agreement. The Issuer shall establish as required therein or herein, as applicable, the Lockbox Account specified in Section 7.01 of the Sale and Servicing Agreement. Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 and as provided in Section 3.05, from moneys on deposit in the Distribution Account in accordance with the instructions of the Servicer pursuant to Section 7.05 of the Sale and Servicing Agreement.
Transaction Accounts. (a) On or prior to the Closing Date, the Securities Intermediary on behalf of the Issuer shall establish and maintain, in the name of the Securities Intermediary, for the benefit of the Securityholders, the Distribution Account, the Reserve Account and the Collection Account and the Issuer shall establish the Lockbox Account as a non-interest bearing, segregated account at the Lockbox Bank and in the name of the Securities Intermediary for the benefit of the Securityholders, in each case, as provided in Sections 7.01, 7.02 and 7.03 of the Sale and Servicing Agreement.
Transaction Accounts. Evidence that the Transaction Accounts have been established with the Account Bank (or the Disbursements Account Bank, as the case may be).
Transaction Accounts. (a) On or prior to the Closing Date, the Trustee on behalf of the Issuer shall establish and maintain, in the name of the Issuer, for the benefit of the Trustee and the Noteholders, the Lockbox Account, the Distribution Account, the Reinvestment Account, the Reserve Account and the Collection Account, in each case, as provided in Sections 7.01, 7.02, 7.03 and 7.04 of the Sale and Servicing Agreement.
Transaction Accounts. The Trustee shall establish and maintain as required therein or herein, as applicable, the Lockbox Account, the Collection Account, the Reserve Account, the Reinvestment Account and the Distribution Account specified in Sections 7.01, 7.02, 7.03, and 7.04 of the Sale and Servicing Agreement. On the Closing Date, the Issuer will deposit, or cause to be deposited, an initial deposit of $625,000 from proceeds of the issuance and sale of the Notes into the BUSINESS.29147457.3 TABLE OF CONTENTS (continued) Page Reserve Account. Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 and as provided in Section 3.05, from moneys on deposit in the Distribution Account in accordance with the instructions of the Servicer pursuant to Section 7.06 of the Sale and Servicing Agreement.
Transaction Accounts. A Customer shall open a transaction account for the purpose of receipt of regular income and making of payment transactions.
Transaction Accounts. 8892 Section 8.04 The Revolving Reserve Account; Fundings. 8993
Transaction Accounts. (a) GE Capital shall record on its books and records the face amount of each Letter of Credit Issued hereunder, any unpaid L/C Reimbursement Obligation, all interest accrued and unpaid thereon and any fees, costs, expenses or other Obligations that have accrued and/or become payable pursuant to this Agreement. GE Capital shall deliver to the Lead Applicant on a monthly basis a statement setting forth such record for Table of Contents the immediately preceding calendar month. Such record shall, absent manifest error, be conclusive evidence of the amount of the L/C Reimbursement Obligations and other Obligations of the Applicants. Any failure to so record or any error in doing so, or any failure to deliver such statement shall not, however, limit or otherwise affect the L/C Reimbursement Obligations or the other Obligations of the Applicants or provide the basis for any claim against GE Capital.
Transaction Accounts. (a) Prior to the occurrence of a Xxxxxxxx Termination Event, on each MTN Expected Maturity Date the Master Servicer shall notify the Cash Manager if on any Business Day there are insufficient funds standing to the credit of any Master Purchaser Transaction Account to redeem the Xxxxxxxx US Notes maturing on such date and shall instruct the Cash Manager to arrange for the payment of amounts standing to the credit of the relevant US Master Purchaser MTN Principal Reserve Account in accordance with Clause 7.3(c) of the Cash Management Agreement.
