Common use of Company Account Clause in Contracts

Company Account. The Closed-End Servicer will establish and maintain, in the name of the Titling Trust, and with respect to the Closed-End Collateral Specified Interest, a Deposit Account to be designated as the “World Omni LT Company Account.” The Company Account shall be under the sole dominion and control of the Initial Beneficiary; provided, however, that, so long as World Omni shall remain the Closed-End Servicer or the Titling Trust Administrator, World Omni (acting in such capacity) shall have the right to make deposits to, and withdrawals from, such account, in a manner not inconsistent with the terms of this Closed-End Servicing Agreement and the other Basic Documents. Notwithstanding the foregoing, the rights of the Initial Beneficiary and the Closed-End Servicer with respect to control over the Company Account as set forth in this subsection (c) shall be subject to the right of the Closed-End Collateral Agent to exercise sole dominion and control over the Company Account, under the circumstances set forth in the Collateral Agency Agreement and the Company Account Agreement. No funds other than funds constituting Closed-End Warehouse Collections and any other amounts withdrawn from the Lease Funding Account and deposited therein, proceeds of such funds and Permitted Investments shall be deposited into the Company Account.

Company Account. The Closed-End Servicer will establish and maintain, in the name of the Titling Trust, and with respect to the Closed-End Collateral Specified Interest, a Deposit Account to be designated as the “"World Omni LT Company Account.” " The Company Account shall be under the sole dominion and control of the Initial Beneficiary; provided, however, that, so long as World Omni shall remain the Closed-End Servicer or the Titling Trust Administrator, World Omni (acting in such capacity) shall have the right to make deposits to, and withdrawals from, such account, in a manner not inconsistent with the terms of this Closed-End Servicing Agreement and the other Basic Documents. Notwithstanding the foregoing, the rights of the Initial Beneficiary and the Closed-End Servicer with respect to control over the Company Account as set forth in this subsection (c) shall be subject to the right of the Closed-End Collateral Agent to exercise sole dominion and control over the Company Account, under the circumstances set forth in the Collateral Agency Agreement and the Company Account Agreement. No funds other than funds constituting Closed-End Warehouse Collections and any other amounts withdrawn from the Lease Funding Account and deposited therein, proceeds of such funds and Permitted Investments shall be deposited into the Company Account.