Benefit of Accounts; Deposits and Withdrawals. The Collection Account and the Reserve Account and all amounts, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Collection Account, Principal Payment Account and the Reserve Account will be made in accordance with the Basic Documents.
Appears in 9 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2007-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2008-A)
Benefit of Accounts; Deposits and Withdrawals. The Collection Account and the Reserve Account and all amounts, securities, investments, financial assets and other property deposited in or credited to them will be held by the Indenture Trustee as secured party for the benefit of the Secured Parties and, after payment in full of the Notes, as agent of the Issuer and as part of the Trust Property. All deposits to and withdrawals from the Collection Account, the Principal Payment Account and the Reserve Account will be made in accordance with the Basic Documents.
Appears in 8 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2010-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2010-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2009-C)