Common use of Establishment of and Deposits in Distribution Accounts Clause in Contracts

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [End of Article V]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Finance Pass Through Cert Series 1999b)

AutoNDA by SimpleDocs

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998B (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998B (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [(End of Article V])

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Pass Throu Cert Ser 1998b)

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998A (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998A (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [(End of Article V])

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Man Ho Co Se Su Pa Th Ce Se 1998a)

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1999C (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1999C (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [End of Article V]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pas THR Cert Ser 1999c)

AutoNDA by SimpleDocs

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 2000A (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 2000A (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". ." The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Remittance Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [End of Article V]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fi Inc Man Ho Co Se Su Pas Th Ce Se 2000a)

Establishment of and Deposits in Distribution Accounts. On or before the Closing Date, the Trustee shall have established, and thereafter shall maintain, with respect to each Certificate Group, a Distribution Account which is an Eligible Account, in the form of one or more separate custodial accounts, titled (i) in the case of the Group I Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998C (Vanderbilt Mortgage and Finance, Inc., Seller), Group I, in trust for the Trustee" and (ii) in the case of the Group II Certificates, "Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B 1998C (Vanderbilt Mortgage and Finance, Inc., Seller), Group II, in trust for the Trustee". The moneys in the Distribution Accounts shall not be invested. One Business Day prior to each Distribution Date, the Trustee shall deposit in each Distribution Account the related Available Distribution Amount. [End of Article V]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc MFR HSG Sr Sub Pa Th Ce Sr 1998c)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!