DEPOSITS TO AND WITHDRAWALS FROM THE CREDIT ENHANCEMENT ACCOUNT. (a) The proceeds of the Loan made by the Credit Enhancement Provider to the Trust pursuant to Section 2 hereof, for the benefit of the Investor Certificateholders of the Series, on the Series Closing Date and the proceeds of any additional loan made by the Credit Enhancement Provider pursuant to Section 8 hereof, shall be deposited into the Credit Enhancement Account. In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.
DEPOSITS TO AND WITHDRAWALS FROM THE CREDIT ENHANCEMENT ACCOUNT. (a) The proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2 hereof, and the proceeds of any additional loan made by the Credit Enhancement Provider pursuant to Section 8 hereof, shall be deposited into the Credit Enhancement Account. In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.
DEPOSITS TO AND WITHDRAWALS FROM THE CREDIT ENHANCEMENT ACCOUNT. (a) The proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2 hereof, and the proceeds of any additional loan made by the Credit Enhancement Provider pursuant to Section 8 hereof, shall be deposited into the Credit Enhancement Account. In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the
DEPOSITS TO AND WITHDRAWALS FROM THE CREDIT ENHANCEMENT ACCOUNT. (a) The proceeds of the Loan made by the Credit Enhancement Provider pursuant to Section 2 hereof, and the proceeds of any additional loan made by the Credit Enhancement Provider pursuant to Section 8 hereof, shall be deposited into the Credit
DEPOSITS TO AND WITHDRAWALS FROM THE CREDIT ENHANCEMENT ACCOUNT. (a) The proceeds of the Loan made by the Credit Enhancement Provider to the Trust pursuant to Section 2 hereof, for the benefit of the Investor Certificateholders of the Series, on the Series Closing Date and the proceeds of any additional loan made by the Credit Enhancement Provider pursuant to Section 8 hereof, shall be deposited into the Credit Enhancement Account. In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee. (b) Any withdrawals from the Credit Enhancement Account for the benefit of the Investor Certificateholders pursuant to Section 9 of the Series Supplement may be made by the Master Servicer or by the Trustee as administrator of the Credit Enhancement and shall be deemed to be made first from amounts on deposit in the Credit Enhancement Account as a result of payments of Series Excess Servicing and other amounts to the Trustee as administrator of the Credit Enhancement to fund the Total Available Credit Enhancement Amount, including any Series Excess Servicing or other such amounts on deposit in the Credit Enhancement Account as a result of an Alternative Credit Support Election having been made or as a result of the occurrence of a Supplemental Credit Enhancement Event, and only after such amounts are exhausted shall any such withdrawals be deemed to be made from amounts on deposit in the Credit Enhancement Account that are attributable to the Loan. (c) On or before any Distribution Date on which Discover Bank is the Master Servicer, all payments made pursuant to this Agreement or the Series Supplement between the Master Servicer or the Holder of the Seller Certificate and the Credit Enhancement Account, may be aggregated for such Distribution Date such that Discover Bank, acting as Master Servicer and as agent of the Holder of the Seller Certificate, may make only one payment to the Credit Enhancement Account in satisfaction of all payments of the Master Servicer and the Holder of the Seller Certificate pursuant to this Agreement or the Series Supplement, to the extent that all payment obligations of the Master Servicer and the Holder of the Seller Certificate to the Credit Enhancement Account on such Distribution Date exce...
