Common use of Accounts; Investments by Trustee Clause in Contracts

Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the Noteholders. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago or such other Lock-Box Bank as the Servicer may select; PROVIDED, HOWEVER, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; and

Appears in 3 contracts

Samples: Indenture (Dvi Receivables Corp Viii), Indenture (Dvi Receivables Corp Viii), Indenture (Dvi Receivables Corp Viii)

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Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the Noteholders. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago or such other Lock-Box Bank as the Servicer may select; PROVIDED, HOWEVER, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; and

Appears in 1 contract

Samples: Indenture (Dvi Receivables Corp)

Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the NoteholdersNoteholders and the Swap Providers. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago Chicago, Firstar Bank N.A. or such other Lock-Box Bank as the Servicer may select; PROVIDED, HOWEVER, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders Noteholders, the Swap Providers and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; (iii) Reserve Account; and

Appears in 1 contract

Samples: Indenture (Dvi Receivables Corp Viii)

Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the Noteholders. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago or such other Lock-Box Bank as the Servicer may select; PROVIDEDprovided, HOWEVERhowever, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; and

Appears in 1 contract

Samples: Indenture (Dvi Receivables Corp Viii)

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Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the Noteholders. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago _____________________ or such other Lock-Box Bank as the Servicer may select; PROVIDED, HOWEVER, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; and

Appears in 1 contract

Samples: Indenture (Dvi Receivables Corp Viii)

Accounts; Investments by Trustee. (a) The Servicer, pursuant to a Lock-Box Agreement, shall establish a Lock-Box Account, which account shall be an Eligible Deposit Account, in the name of the Trustee for the benefit of the Noteholders. Each Lock-Box Account shall be a segregated account initially established and maintained with First Union National Bank, First National Bank of Chicago or such other Lock-Box Bank as the Servicer may select; PROVIDED, HOWEVER, that the Servicer (i) shall give the Trustee and the Rating Agencies written notice of any change in the location of a Lock-Box Account and (ii) shall give at least 10 days' prior written notice of the new location to each Obligor. In addition, on or before the Closing Date, the Trustee shall establish in the name of the Trustee for the benefit of the Noteholders and the Issuer to the extent of their interests therein as provided in this Amended and Restated Indenture and in the Amended and Restated Contribution and Servicing Agreement, the following accounts, which accounts shall be trust accounts maintained at the Corporate Trust Office: (i) Collection Account; (ii) Distribution Account; (iii) Reserve Account; and

Appears in 1 contract

Samples: Indenture (Dvi Receivables Corp Viii)

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