Common use of Benefit of Accounts; Deposits and Withdrawals Clause in Contracts

Benefit of Accounts; Deposits and Withdrawals. The Trust Accounts and all cash, money, securities, investments, financial assets and other property deposited in or credited to them will be held by the Master Collateral Agent as secured party for the benefit of the Secured Parties (except that any Trust Accounts established pursuant to a Trust Financing Agreement will be solely for the benefit of the related Series and may be held by the Paying Agent for such Series) and, after the release of the Trust Accounts from the Lien of the Master Collateral Agreement pursuant to Article IX of the Master Collateral Agreement, as agent of the Trust and as part of the Trust Account Property. All deposits to and withdrawals from the Trust Accounts will be made according to the Transaction Documents and the other Series Related Documents.

Appears in 5 contracts

Samples: Master Collateral Agency and Intercreditor Agreement (Verizon Master Trust), Master Collateral Agency and Intercreditor Agreement (Verizon Master Trust), Transfer and Servicing Agreement (Verizon Master Trust)

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