Control of Trust Accounts Sample Clauses
Control of Trust Accounts. Each of the Trust Accounts (or interests therein) established hereunder has been pledged by the Issuer to the Indenture Trustee under the Indenture and shall be subject to the lien of the Indenture. In addition to the provisions hereunder, each of the Trust Accounts shall also be established and maintained pursuant to the Indenture. Amounts distributed from each Trust Account in accordance with the Indenture and this Agreement shall be released from the lien of the Indenture upon such distribution thereunder or hereunder. Subject to Sections 5.01 and 5.02 hereof, the Indenture Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in the Trust Accounts (other than the Certificate Distribution Account) and in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Trust Account Property and the Trust Estate. If, at any time, any Trust Account ceases to be an Eligible Account, the Indenture Trustee (or the Servicer on its behalf) shall, within ten Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency and the Securities Insurer may consent) (i) establish a new Trust Account as an Eligible Account, (ii) terminate the ineligible Trust Account, and (iii) transfer any cash and investments from such ineligible Trust Account to such new Trust Account. With respect to the Trust Accounts (other than the Certificate Distribution Account), the Indenture Trustee agrees, by its acceptance hereof, that each such Trust Account shall be subject to the sole and exclusive custody and control of the Indenture Trustee for the benefit of the Securityholders, the Securities Insurer and the Issuer, as the case may be, and the Indenture Trustee shall have sole signature and withdrawal authority with respect thereto. In addition to this Agreement and the Indenture, the Certificate Distribution Account established hereunder shall also be subject to and established and maintained in accordance with the Owner Trust Agreement. Subject to rights of the Indenture Trustee, the Noteholders and the Securities Insurer hereunder and under the Indenture, the Owner Trustee shall possess for the benefit of the Certificateholders and the Securities Insurer all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof (including all income thereon) and all such ...
Control of Trust Accounts. All sums paid to the Credit Union on savings or deposits (less setoff allowed by law or provided for by contract) shall be paid on proper withdrawal demand. Such demand must be made by at least one of the Trustees. The Credit Union has no obligation to follow the application of funds withdrawn from the account.
Control of Trust Accounts. Other than as set forth in any Trust Financing Agreement with respect to any Series Accounts, each of the Trust Accounts will be under the control of the Master Collateral Agent so long as the Trust Accounts remain subject to the Lien of the Master Collateral Agreement, except that the Servicer may make deposits into and direct the Master Collateral Agent to make deposits into or withdrawals from the Trust Accounts according to the Transaction Documents and the other Series Related Documents. The Servicer may direct the Master Collateral Agent to withdraw from the Collection Account and pay to the Servicer, or as directed by the Servicer, amounts that are not Group Available Funds for a Collection Period or that were deposited into the Collection Account in error. Following the release of the Trust Accounts from the Lien of the Master Collateral Agreement, the Trust Accounts will be under the control of the Trust.
Control of Trust Accounts. Each of the Trust Accounts established hereunder has been pledged by the Issuer to the Indenture Trustee under the Indenture and shall be subject to the lien of the Indenture. In addition to the provisions hereunder, each of the Trust Accounts shall also be established and maintained pursuant to the Indenture. Amounts distributed from each Trust Account in accordance with the Indenture and this Agreement shall be released from the lien of the Indenture upon such distribution thereunder or hereunder. The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts (other than the Certificate Distribution Account) and in all proceeds thereof and all such funds, investments, proceeds shall be part of the Trust Account Property and the Trust Estate. If, at any time, any Trust Account ceases to be an Eligible Account, the Indenture Trustee (or the Master Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) (i) establish a new Trust
Control of Trust Accounts. Each of the Trust Accounts established hereunder has been pledged by the Issuer to the Indenture Trustee under the Indenture and shall be subject to the Lien of the Indenture. Amounts distributed from each Trust Account in accordance with the terms of this Agreement shall be released for the benefit of the Securityholders from the Trust Estate upon such distribution thereunder or hereunder. The
(i) establish a new Trust Account as an Eligible Account, (ii) terminate the ineligible Trust Account, and (iii) transfer any cash and investments from such ineligible Trust Account to such new Trust Account. With respect to the Trust Accounts, the Issuer and the Indenture Trustee agree, that each such Trust Account shall be subject to the "control" (in accordance with Section 9-104 of the Uniform Commercial Code) of the Indenture Trustee for the benefit of the Noteholders, and, except as may be consented to in writing by the Majority Noteholders, or provided in the related Blocked Account Agreement, the Indenture Trustee shall have sole signature and withdrawal authority with respect thereto. The Servicer (unless it is also the Paying Agent) shall not be entitled to make any withdrawals or payments from the Trust Accounts.
Control of Trust Accounts. Each of the Trust Accounts established hereunder has been pledged by the issuer to the Indenture Trustee under the Indenture and shall
(i) establish a new Trust Account as an Eligible Account, (ii) terminate the ineligible Trust Account, and (iii) transfer any cash and investments from such ineligible Trust Account to such new Trust Account. With respect to the Trust Accounts, the Issuer and the Indenture Trustee agree, that each such Trust Account shall be subject to the “control” (in accordance with Section 9-104 of the Uniform Commercial Code) of the Indenture Trustee for the benefit of the Noteholders, and, except as may be consented to in writing by the Majority Noteholders, or provided in the related Blocked Account Agreement, the Indenture Trustee shall have sole signature and withdrawal authority with respect thereto. The Servicer (unless it is also the Paying Agent) shall not be entitled to make any withdrawals or payments from the Trust Accounts.
Control of Trust Accounts. Each of the Trust Accounts established hereunder has been pledged by the Borrower to the Collateral Custodian under the Guarantee and Security Agreement and shall be subject to the lien of the Guarantee and Security Agreement. Amounts distributed from each Trust Account in accordance with the terms of this Agreement shall be released for the benefit of the Lenders from the Collateral upon such distribution thereunder or hereunder. The Collateral Custodian shall possess all right, title and interest in and to all funds on deposit from time to time in the Trust Accounts and in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Trust Account Property and the Collateral. With respect to the Trust Accounts, the Borrower and the Administrative Agent agree that:
(1) the Collection Account, the Principal Collections Account and the FX Accounts shall, until all of the obligations under the Credit Agreement and the other Basic Documents have been paid in full, be subject to the sole and exclusive dominion, custody and control of the Collateral Custodian for the benefit of the Administrative Agent and the Lenders (provided that the Servicer, unless terminated as such, shall be entitled to withdraw funds therefrom in the manner and to the extent provided in this Agreement); and
(2) the Distribution Account shall be subject to the sole and exclusive dominion, custody and control of the Paying Agent on behalf of the Collateral Custodian for the benefit of the Administrative Agent and the Lenders, and the Paying Agent (on behalf of the Collateral Custodian) shall have sole signature and withdrawal authority with respect thereto.
Control of Trust Accounts. The Depositor has conveyed all of its right, title and interest in each of the Trust Accounts established hereunder to the Owner Trustee for the benefit of the Certificateholders. Amounts distributed from each Trust Account in accordance with the terms of this Agreement shall be released from the Owner Trust Estate upon such distribution thereunder or hereunder. The Owner Trustee shall possess all right,
(i) establish a new Trust Account as an Eligible Account, (ii) terminate the ineligible Trust Account, and (iii) transfer any cash and investments from such ineligible Trust Account to such new Trust Account. With respect to the Trust Accounts, the Owner Trustee agrees, by its acceptance hereof, that each such Trust Account shall be subject to the sole and exclusive dominion, custody and control of the Owner Trustee for the benefit of the Certificateholders, and, except as may be consented to in writing by the Majority Certificateholders, the Owner Trustee shall have sole signature and withdrawal authority with respect thereto. The Servicer shall have the power, revocable by the Majority Certificateholder or by the Owner Trustee, to instruct the Owner Trustee to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer to carry out its duties hereunder.
Control of Trust Accounts. The Trust has delivered to the Administrative Agent and the Trustee a fully executed Trust Account Instruction Letter relating to each Trust Account. Pursuant to the Trust Agreement and the Trust Account Instruction Letter, the Trustee has agreed to comply with the instructions originated by the Administrative Agent directing the disposition of funds in each Trust Account without further consent by the Trust, any Originator, any Servicer or any other Person.
Control of Trust Accounts. Each of the Trust Accounts established hereunder has been pledged by the issuer to the Indenture Trustee under the Indenture and shall be subject to the lien of the Indenture. Amounts distributed from each Trust Account in
(i) establish a new Trust Account as an Eligible Account, (ii) terminate the ineligible Trust Account, and (iii) transfer any cash and investments from such ineligible Trust Account to such new Trust Account. With respect to the Trust Accounts, the Issuer and the Indenture Trustee agree, that each such Trust Account shall be subject to the "control" (in accordance with Section 9-104 of the UCC) of the Indenture Trustee for the benefit of the Noteholders, and, except as may be consented to in writing by the Majority Noteholders or provided in the related Blocked Account Agreement, the Indenture Trustee shall have sole signature and withdrawal authority with respect thereto. The Servicer (unless it is also the Paying Agent) shall not be entitled to make any withdrawals or payments from the Trust Accounts.