Common use of Establishment of Collection Account Clause in Contracts

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities Insurer, shall cause to be established and maintained one or more Collection Accounts, which shall be separate Eligible Accounts, which may be interest-bearing, entitled "COLLECTION ACCOUNT, FIRST BANK NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIES, SERIES 1997-1". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities Insurer. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.08. As of the Closing Date, the Collection Account shall be established with the Indenture Trustee, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible Account.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities Insurer, Servicer shall cause ----------------------------------- to be established and maintained in the name of the Securities Intermediary one or more Collection AccountsAccounts which shall be pledged to the Indenture Trustee for the benefit of Securityholders, which shall be separate Eligible Accounts, which may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONU.S. Bank National Association, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE in trust for the FIRSTPLUS ASSET BACKED SECURITIESAsset Backed Securities, SERIES 1997Series 1998-1". The Collection Account may be maintained with the Indenture Trustee or or, subject to the following paragraph, any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.06. As of the Closing Date, the Collection Account shall be established with the Indenture Trustee, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible Account.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "Collection Account"), which shall be separate Eligible Accounts, which Accounts and may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONU.S. Bank National Association, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESin trust for the Empire Funding Home Loan Asset Backed Notes, SERIES Series 1997-14". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities InsurerIndenture Trustee. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.03 hereof. As The Collection Account shall be established, as of the Closing Date, the Collection Account shall be established with the Indenture TrusteeTrustee as an Eligible Account pursuant to the definition thereof. The Collection Account may, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Indenture Trustee.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "Collection Account"), which shall be separate Eligible Accounts, which may be interest-bearing, Accounts entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONLaSalle National Bank, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESin trust for the FFCA Franchise Loan Backed Notes, SERIES 1997Series 1998-1". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.08SECTION 5.03 hereof. As of the Closing Date, the The Collection Account shall be established with established, as of the Indenture Trusteedate hereof, and thereafter as an Eligible Account pursuant to the definition thereof. The Collection Account may, upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Majority Noteholders.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "Collection Account"), which shall be separate Eligible Accounts, which Accounts and may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONNorwest Bank Minnesota, AS INDENTURE TRUSTEENational Association, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESas Indenture Trustee, SERIES in trust for the Life Financial Home Loan Asset Backed Notes, Series 1997-13". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between certification, substantially in the Form of Exhibit D attached hereto, by the Servicer and acknowledged by the depository institution acceptable to the Securities Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.03 hereof. As The Collection Account shall be established, as of the Closing Date, the Collection Account shall be established with the Indenture TrusteeTrustee as an Eligible Account pursuant to the definition thereof. The Collection Account may, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon in accordance with the prior written consent of the Securities Insurerpreceding paragraph, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Indenture Trustee.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders Noteholders and the Securities Note Insurer, shall cause to be established and maintained one or more Collection Accounts, which shall be separate Eligible Accounts, which may be interest-bearing, entitled "COLLECTION ACCOUNT, FIRST BANK NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE, IN TRUST FOR THE FIRSTPLUS ASSET FUNDING TRUST ASSET-BACKED SECURITIESNOTES, SERIES 1997-11997A". The Any Collection Account may be maintained with the Indenture Trustee or or, subject to the following paragraph, any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities Note Insurer. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Note Insurer and, upon request of any SecurityholderNoteholder, to such SecurityholderNoteholder. Funds in the each Collection Account shall be invested in accordance with Section 5.08. As of the Closing Date, the Collection Account shall be established with the Indenture Trustee, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Note Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible Account.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "COLLECTION ACCOUNT"), which shall be separate Eligible Accounts, which may be interest-bearing, Accounts entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONLaSalle National Bank, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESin trust for the FFCA Franchise Loan Backed Notes, SERIES 1997Series 1998-1". The Collection Account may be maintained with -77- the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.08SECTION 5.03 hereof. As of the Closing Date, the The Collection Account shall be established with established, as of the Indenture Trusteedate hereof, and thereafter as an Eligible Account pursuant to the definition thereof. The Collection Account may, upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Majority Noteholders.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities Insurer, Servicer shall cause to be established and maintained in the name of the Securities Intermediary one or more Collection AccountsAccounts which shall be pledged to the Indenture Trustee for the benefit of Securityholders, which shall be separate Eligible Accounts, which may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONU.S. Bank National Association, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE in trust for the FIRSTPLUS ASSET BACKED SECURITIESAsset Backed Securities, SERIES 1997Series 1998-15". The Collection Account may be maintained with the Indenture Trustee or or, subject to the following paragraph, any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.06. As of the Closing Date, the Collection Account shall be established with the Indenture Trustee, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible Account.

Establishment of Collection Account. The Servicer, Servicer shall cause to ----------------------------------- be established and maintained in the name of the Securities Intermediary one or more Collection Accounts which shall be pledged to the Indenture Trustee for the benefit of the Securityholders and the Securities Insurer, shall cause to be established and maintained one or more Collection AccountsSecurityholders, which shall be separate Eligible Accounts, which may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONU.S. Bank National Association, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE in trust for the FIRSTPLUS ASSET BACKED SECURITIESAsset Backed Securities, SERIES 1997Series 1998-14". The Collection Account may be maintained with the Indenture Trustee or or, subject to the following paragraph, any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.06. As of the Closing Date, the Collection Account shall be established with the Indenture Trustee, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible Account.

Establishment of Collection Account. The Servicer, for the ----------------------------------- benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "Collection Account"), which shall be separate Eligible Accounts, which Accounts and may be interest-bearing, entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONFirst Bank National Association, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESin trust for the Empire Funding Home Loan Asset Backed Securities, SERIES Series 1997-12". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities InsurerIndenture Trustee. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.085.03 hereof. As ------------ The Collection Account shall be established, as of the Closing Date, the Collection Account shall be established with the Indenture TrusteeTrustee as an Eligible Account pursuant to the definition thereof. The Collection Account may, and thereafter upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Indenture Trustee.

Establishment of Collection Account. The Servicer, for the benefit of the Securityholders and the Securities InsurerSecurityholders, shall cause to be established and maintained one or more Collection AccountsAccounts (collectively, the "COLLECTION ACCOUNT"), which shall be separate Eligible Accounts, which may be interest-bearing, Accounts entitled "COLLECTION ACCOUNTCollection Account, FIRST BANK NATIONAL ASSOCIATIONLaSalle National Bank, AS INDENTURE TRUSTEEas Indenture Trustee, IN TRUST FOR THE FIRSTPLUS ASSET BACKED SECURITIESin trust for the FFCA Franchise Loan Backed Notes, SERIES 1997Series 1998-1". The Collection Account may be maintained with the Indenture Trustee or any other depository institution which satisfies the requirements set forth in the definition of Eligible Account. The creation of any Collection Account other than one maintained with the Indenture Trustee shall be evidenced by a letter agreement between the Servicer and the depository institution acceptable to the Securities InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Securities Insurer Trustee and, upon request of any Securityholder, to such Securityholder. Funds in the Collection Account shall be invested in accordance with Section 5.08SECTION 5.03 hereof. As of the Closing Date, the The Collection Account shall be established with established, as of the Indenture Trusteedate hereof, and thereafter as an Eligible Account pursuant to the definition thereof. The Collection Account may, upon written notice to the Issuer and the Indenture Trustee, and upon the prior written consent of the Securities Insurer, the Collection Account may be transferred by the Servicer to a different depository institution so long as such transfer is to an Eligible AccountAccount acceptable to the Majority Noteholders.