Common use of Establishment and Administration of Collection Account Clause in Contracts

Establishment and Administration of Collection Account. (a) The Collection Account. The Trustee, for the benefit of the Beneficiaries, shall cause to be established and maintained in the name of the Trust with an Eligible Institution (which may be the Trustee) a segregated trust account (“Collection Account”), bearing a designation clearly indicating that the funds and Eligible Investments deposited therein are held for the benefit of the Beneficiaries.