GENERAL PROVISIONS REGARDING PLEDGED ACCOUNTS OR FUNDS. (a) Each Pledged Account or Fund shall relate solely to the Bonds and to the Student Loans and other property securing the Bonds. Funds and other property in each Pledged Account or Fund shall be at all times separately accountable on the internal books and records of the Trustee. Funds and other property in each Pledged Account or Fund shall not be commingled with any other funds or property of the Issuer or any Affiliate thereof. Notwithstanding the foregoing, the Trustee may hold any funds or other property received or held by it as part of a Pledged Account or Fund in collective accounts maintained by it in the normal course of its business and containing funds or property held by it for other Persons (which may include the Issuer or an Affiliate), provided that such accounts are under the sole control of the Trustee and the Trustee maintains adequate records indicating the ownership of all such funds or property and the portions thereof held for credit to each Pledged Account or Fund.
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Samples: Custodial Agreement (National Collegiate Trust 1996-S2), Custodial Agreement (National Collegiate Trust 1996-S2), Indenture (National Collegiate Trust 1996-S2)
