Common use of Principal Funding Account Clause in Contracts

Principal Funding Account. (a) (i) The Receivables Trustee shall establish and will maintain with a Qualified Institution, in the name of the Receivables Trustee, held on Absolute Bare Trust for the benefit of the Investor Beneficiary, a Trust Account with such Qualified Institution (the "PRINCIPAL FUNDING ACCOUNT"), bearing a designation clearly indicating that the funds deposited therein are held on Absolute Bare Trust for the benefit of the Loan Note Issuer.

Principal Funding Account. (a) (i) The Receivables Trustee shall establish and will maintain with a Qualified Institution, in the name of the Receivables Trustee, held on Absolute Bare Trust for the benefit of the Series 03-2 Investor Beneficiary and the Transferor Beneficiary, by way of separate trust, a Trust Account with such Qualified Institution (the "PRINCIPAL FUNDING ACCOUNT"), bearing a designation clearly indicating that the funds deposited therein are held on Absolute Bare Trust trust for the benefit of the Loan Note IssuerSeries 03-2 Investor Beneficiary and the Transferor Beneficiary.

Principal Funding Account. (a) (i) The Receivables Trustee shall establish and will maintain with a Qualified Institution, in the name of the Receivables Trustee, held on Absolute Bare Trust for the benefit of the Series 04-2 Investor Beneficiary and the Transferor Beneficiary, by way of separate trust, a Trust Account with such Qualified Institution (the "PRINCIPAL FUNDING ACCOUNT"), bearing a designation clearly indicating that the funds deposited therein are held on Absolute Bare Trust trust for the benefit of the Loan Note IssuerSeries 04-2 Investor Beneficiary and the Transferor Beneficiary.

Principal Funding Account. (a) (i) The Receivables Trustee shall establish and will maintain with a Qualified Institution, in the name of the Receivables Trustee, held on Absolute Bare Trust for the benefit of the Series 02-1 Investor Beneficiary and the Transferor Beneficiary, by way of separate trust, a Trust Account with such Qualified Institution (the "PRINCIPAL FUNDING ACCOUNT"), bearing a designation clearly indicating that the funds deposited therein are held on Absolute Bare Trust trust for the benefit of the Loan Note IssuerSeries 02-1 Investor Beneficiary and the Transferor Beneficiary.