DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS. SECTION 4.1 Accounts; Lock-Box A ount ...........................................55 SECTION 4.2. Collections .........................................................57 SECTION 4.3. Application of Collections ..........................................57 SECTION 4.4. Payaheads ...........................................................58 SECTION 4.5. Additional Deposits .................................................58 SECTION 4.6. Distributions; Policy Claims ........................................58 SECTION 4.7. Class B Reserve Account .............................................65 SECTION 4.8. Statements to Certificateholders; Tax Returns .......................69 SECTION 4.9. [Reserved] ..........................................................72 SECTION 4.10 Reliance on Information from the Servicer ...........................72 SECTION 4.11. Optional Deposits by the Certificate Insurer ........................72 SECTION 4.12. Spread Account ......................................................72 SECTION 4.13. Policy ..............................................................73 SECTION 4.14. Withdrawals from Spread Account .....................................73 SECTION 4.15. Claims Under Policy .................................................73 SECTION 4.16. Preference Claims; Direction of Proceedings .........................75 SECTION 4.17. Surrender of Policy .................................................76 SECTION 4.18. Simple Interest Advances ............................................76 SECTION 4.19. Pre-Funding Account .................................................76 SECTION 4.20. Capitalized Interest Account ........................................77
DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS. Section 5.01. Accounts . . . . . . . 35 Section 5.02. Collections. . . . . . 36 Section 5.03. Application of Collections. . . . . . . . . . . 36 Section 5.04. Miscellaneous Servicer Collections . . . . . . 36 Section 5.05. Additional Deposits. . 36 Section 5.06. Distributions. . . . . 37 Section 5.07.
DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS. SECTION 4.1. Accounts; Lock-Box Account...........................................................51 SECTION 4.2. Collections..........................................................................53 SECTION 4.3. Application of Collections...........................................................53 SECTION 4.4. Payaheads 54 SECTION 4.5.
DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS. SECTION 4.1. ACCOUNTS; LOCK-BOX ACCOUNT. xi) The Servicer has established the Lock-Box Account as two Eligible Accounts, one established with the Trustee entitled "Long Beach Acceptance Corp., Chase Bank of Texas Agent Account -- Auto Loan Programs," account number 00100916395, and one established with Bank of America National Trust and Savings Association entitled "Long Beach Acceptance Corp., Chase Bank of Texas Agent Account -- Auto Loan Programs," account number 14572-02900; PROVIDED, that the Servicer, with the prior written consent of the Certificate Insurer, may from time to time (a) establish additional or substitute Lock-Box Accounts, each of which shall be an Eligible Account, and (b) close or terminate the use of any of the aforementioned accounts or any subsequently established accounts, each of which accounts, at such time, shall no longer be deemed to be a Lock-Box Account; PROVIDED, FURTHER, that pursuant to the Lock-Box Agreement, the Lock-Box Processor and no other person, save the Trustee or the Servicer, has authority to direct disposition of funds related to the Receivables on deposit in the Lock-Box Account consistent with the provisions of this Agreement and the Lock-Box Agreement. The Trustee shall have no liability or responsibility with respect to the Lock-Box Processor's or the Servicer's directions or activities as set forth in the preceding sentence. The Lock-Box Account shall be established pursuant to and maintained in accordance with the Lock-Box Agreement and shall be a demand deposit account which shall at all times be an Eligible Account, initially established and maintained with Chase Texas or, at the request of the Certificate Insurer, an Eligible Account satisfying clause (i) of the definition thereof. The Servicer has established and shall maintain the Lock-Box at a United States Post Office Branch. Notwithstanding the Lock-Box Agreement or any of the provisions of this Agreement relating to the Lock-Box and the Lock-Box Agreement, the Servicer shall remain obligated and liable to the Trustee and the Certificateholders for servicing and administering the Receivables and the other Trust Assets in accordance with provisions of this Agreement without diminution of such obligation or liability by virtue thereof. In the event the Servicer shall for any reason no longer be acting as such, the Lock-Box Agreement shall terminate in accordance with its terms and funds on deposit in the Lock-Box Account shall be distributed by C...
DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS. Section 5.01. Accounts . . . . . . . . . . . . . . . 35 Section 5.02. Collections. . . . . . . . . . . . . . . . 36 Section 5.03. Application of Collections. . . . . . . . . . 36 Section 5.04. Miscellaneous Servicer Collections . . . . . . 36 Section 5.05. Additional Deposits. . . . . . . . . . . . . .36 Section 5.06. Distributions. . . . . . . . . . . . . . . . .37 Section 5.07. Reserve Fund . . . . . . . . . . . . . . . . .39 Section 5.08. Funding Account. . . . . . . . . . . . . . . .39 Section 5.09. Statements to Certificateholders; Tax Returns. 39 Section 5.10. Reliance on Information from the Servicer. . . 43
DISTRIBUTIONS; ACCOUNTS; STATEMENTS TO CERTIFICATEHOLDERS
