Deposit Irrevocable. Any deposit made into the Reserve Account hereunder shall, except as otherwise provided herein, be irrevocable and the amount of such deposit and any money, instruments, investment property, or other property credited to carried in, or deposited in the Reserve Account hereunder and all interest thereon shall be held in trust by the Trustee and applied solely as provided herein.
Appears in 7 contracts
Samples: Indenture and Servicing Agreement (Wyndham Destinations, Inc.), Indenture and Servicing Agreement (Wyndham Worldwide Corp), Indenture and Servicing Agreement (Wyndham Worldwide Corp)
Deposit Irrevocable. Any deposit made into the Reserve Account hereunder shall, except as otherwise provided herein, be irrevocable irrevocable, and the amount of such deposit and any money, instruments, investment property, or other property credited to to, carried in, or deposited in the Reserve Account hereunder and all interest thereon shall be held in trust by the Trustee and applied solely as provided herein.
Appears in 6 contracts
Samples: Indenture and Servicing Agreement (Wyndham Worldwide Corp), Indenture and Servicing Agreement (Wyndham Worldwide Corp), Indenture and Servicing Agreement (Wyndham Worldwide Corp)
Deposit Irrevocable. Any deposit made into the Reserve Account hereunder shall, except as otherwise provided herein, be irrevocable and the amount of such deposit and any money, instruments, investment property, or other property credited to to, carried in, or deposited in the Reserve Account hereunder and all interest thereon shall be held in trust by the Trustee and applied solely as provided herein.
Appears in 5 contracts
Samples: Indenture and Servicing Agreement (Cendant Corp), Indenture and Servicing Agreement (Cendant Corp), Indenture and Servicing Agreement (Cendant Corp)
Deposit Irrevocable. Any deposit made into the Reserve Account hereunder shall, except as otherwise provided herein, be irrevocable and the amount of such deposit and any money, instruments, investment property, Letter of Credit or other property credited to carried in, or deposited in the Reserve Account hereunder and all interest thereon shall be held in trust by the Trustee and applied solely as provided herein; provided, however, that, notwithstanding the foregoing, the Issuer may replace a Letter of Credit with another Eligible Letter of Credit.
Appears in 1 contract
Samples: Indenture and Servicing Agreement (Travel & Leisure Co.)
Deposit Irrevocable. Any deposit made into the Reserve Account hereunder shall, except as otherwise provided herein, be irrevocable irrevocable, and the amount of such deposit and any money, instruments, investment property, earnings on permitted investments, or other property credited to to, carried in, or deposited in the Reserve Account hereunder and all interest thereon shall be held in trust by the Trustee and applied solely as provided herein.
Appears in 1 contract
Samples: Indenture and Servicing Agreement (Wyndham Worldwide Corp)
