Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with The Bank of New York. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (American Express Centurion Bank), Pooling and Servicing Agreement (American Express Centurion Bank), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with ~~The Bank of New York~~the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust), Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with ~~The Bank of New York~~the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection ~~4.07(j~~4.07(i).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (At&t Universal Funding Corp), Pooling and Servicing Agreement (At&t Universal Card Master Trust), Series (Universal Card Services Corp)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-7 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-7 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-7 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-6 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-6 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-6 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-1 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-1 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-1 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-8 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-8 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-8 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2024-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2024-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2024-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Series (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall ~~establish and maintain~~establish, in the name of the ~~Trustee~~Trust, on behalf of the Trust, for the benefit of the ~~Class A~~ Series 2000-1 Certificateholders and the Collateral Interest Holder, as their interests appear herein, a "RESERVE ACCOUNT" which shall be an Eligible Deposit ~~Account (the "Reserve~~ Account") , bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class A~~ Series 2000-1 Certificateholders and the Collateral Interest Holder~~. The Reserve Account shall initially be established with The Bank of New York~~. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A~~ Series 2000-1 Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) ~~shall~~ shall, within 10 ten (10) Business Days (or such longer period, not to exceed 30 thirty calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).the

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Reserve Account. (a) The Servicer shall ~~establish and maintain~~establish, in the name of the ~~Trustee~~Trust, on behalf of the Trust, for the benefit of the ~~Class A~~ Series 2001-1 Certificateholders and the Collateral Interest Holder, as their interests appear herein, a "RESERVE ACCOUNT" which shall be an Eligible Deposit ~~Account (the "Reserve~~ Account") , bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class A~~ Series 2001-1 Certificateholders and the Collateral Interest Holder~~. The Reserve Account shall initially be established with The Bank of New York~~. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A~~ Series 2001-1 Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) ~~shall~~ shall, within 10 ten (10) Business Days (or such longer period, not to exceed 30 thirty calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to ~~the~~ termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, ~~subsection 4.07(j~~SECTION 4.07(i).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-8 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-8 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-8 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-6 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-6 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-6 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-1 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-1 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-1 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2023-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2018-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2019-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2017-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2015-1 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2015-1 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2015-1 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Series 2012 (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-4 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-4 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-4 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-5 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-5 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-5 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Series 2012 (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2009-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2009-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2009-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-8 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-8 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-8 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with The Bank of New York. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve (Series 2003-3 Supplement) 26 Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-1 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-1 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-1 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 199[ ]-[ ] Certificateholders, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 199[ ]-[ ] Certificateholders. The Reserve Account shall initially be established with ~~The Bank of New York~~[the Trustee]. The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 199[ ]-[ ] Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business 42 Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, ~~subsection~~ Section 4.07(j).

Appears in 1 contract

Samples: Asset Backed Securities Corp

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class~~ Series 1998-A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class~~ Series 1998-A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with ~~The Bank of New York~~the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class~~ Series 1998-A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency ~~shall~~ may consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or and/or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time ~~in an amount up to the Available Reserve Account Amount at such time,~~ for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection ~~4.07(j~~4.7(l).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Advanta Credit Card Master Trust Ii)

Reserve Account. (a) The ~~Servicer~~ Indenture Trustee shall establish and ~~maintain~~maintain with an Eligible Institution, which may be the Indenture Trustee in the name of the ~~Trustee~~Trust, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 20[ ]-[ ] Noteholders, ~~an Eligible Deposit Account~~ a segregated trust account (the "“Reserve Account") ”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 20[ ]-[ ] Noteholders. The ~~Reserve Account shall initially be established with The Bank of New York. The~~ Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 20[ ]-[ ] Noteholders. If at any time the institution holding the Reserve Account ceases to be an Eligible ~~Deposit Account~~Institution, the Transferor shall notify the Indenture Trustee, and the Indenture Trustee upon being notified (or the Servicer on its behalf) ~~shall~~ shall, within 10 ten (10) Business ~~Days (or such longer period~~Days, ~~not to exceed 30 calendar days, as to which each Rating Agency shall consent)~~ establish a new Reserve Account meeting the conditions specified above as with an Eligible ~~Deposit Account~~Institution, and shall transfer any cash or any investments to such new Reserve Account. The Indenture Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Indenture Supplement, and (ii) on each ~~Distribution~~ Transfer Date (from and after the Reserve Account Funding Date) prior to ~~the~~ termination of the Reserve ~~Account~~ Account, make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection ~~4.07(j~~4.4(a)(xi).

Appears in 1 contract

Samples: World Financial Network Credit Card Master Note Trust

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-5 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-5 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-5 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2014-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-3 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-7 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-7 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-7 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2012-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall ~~establish and maintain~~establish, in the name of the ~~Trustee~~Trust, on behalf of the Trust, for the benefit of the ~~Class A~~ Series 2002-1 Certificateholders and the Collateral Interest Holder, as their interests appear herein, a "RESERVE ACCOUNT" which shall be an Eligible Deposit ~~Account (the "Reserve~~ Account") , bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the ~~Class A~~ Series 2002-1 Certificateholders and the Collateral Interest Holder~~. The Reserve Account shall initially be established with The Bank of New York~~. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A~~ Series 2002-1 Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) ~~shall~~ shall, within 10 ten (10) Business Days (or such longer period, not to exceed 30 thirty calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to ~~the~~ termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, ~~subsection 4.07(j~~SECTION 4.07(i).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with ~~The Bank of New York~~the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection ~~4.07(j~~4.7(i).

Appears in 1 contract

Samples: Credit Card Receivables Funding Corp

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-2 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-2 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2013-2 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Class A Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class A Certificateholders and the Collateral Interest Holder. The Reserve Account shall initially be established with ~~The Bank of New York~~the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders and the Collateral Interest Holder. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).. (SERIES 2000-5 SUPPLEMENT) 26

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 201[ ]-[ ] Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 201[ ]-[ ] Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 201[ ]-[ ] Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-9 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-9 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2008-9 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Reserve Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-1 Certificateholders, an Eligible Deposit Account (the "“Reserve Account"”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-1 Certificateholders. The Reserve Account shall initially be established with The Bank of New ~~York~~York Mellon. The Trustee shall possess all right, title and interest in all funds ~~on deposit~~ and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the ~~Class A Certificateholders and the Collateral Interest Holder~~Series 2011-1 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.07(j).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Common use of Reserve Account Clause in Contracts