Common use of Establishment of Collection Account Clause in Contracts

Establishment of Collection Account. The Servicer, for the benefit of the Noteholders and the 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 FUNDING TRUST ASSET-BACKED NOTES, SERIES 1997A". Any Collection Account may be maintained with the Indenture Trustee 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 Note Insurer. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer and, upon request of any Noteholder, to such Noteholder. Funds in 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 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 Noteholders and the Note 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 FUNDING TRUST ASSETAsset Backed Securities, Series 1998-BACKED NOTES, SERIES 1997A1". Any The Collection Account may be maintained with the Indenture Trustee 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 Note Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 Noteholders and the Note 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 FUNDING TRUST ASSETAsset Backed Securities, Series 1998-BACKED NOTES, SERIES 1997A5". Any The Collection Account may be maintained with the Indenture Trustee 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 Note Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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, 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 Noteholders and the Note 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 FUNDING TRUST ASSETAsset Backed Securities, Series 1998-BACKED NOTES, SERIES 1997A4". Any The Collection Account may be maintained with the Indenture Trustee 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 Note Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 Noteholders and the Note 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 FUNDING TRUST ASSETin trust for the FFCA Franchise Loan Backed Notes, Series 1998-BACKED NOTES, SERIES 1997A1". Any The Collection Account may be maintained with -77- the Indenture Trustee or, subject to the following paragraph, 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 Note InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 AccountAccount acceptable to the Majority Noteholders.

Establishment of Collection Account. The Servicer, for the benefit of the Noteholders and the Note 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 FUNDING TRUST ASSETin trust for the FFCA Franchise Loan Backed Notes, Series 1998-BACKED NOTES, SERIES 1997A1". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 AccountAccount acceptable to the Majority Noteholders.

Establishment of Collection Account. The Servicer, for the benefit of the Noteholders and the Note 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 FUNDING TRUST ASSETin trust for the FFCA Franchise Loan Backed Notes, Series 1998-BACKED NOTES, SERIES 1997A1". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note InsurerMajority Noteholders. A copy of such letter agreement shall be furnished to the Majority Noteholders and the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 AccountAccount acceptable to the Majority Noteholders.

Establishment of Collection Account. The Servicer, for the benefit of the Noteholders and the Note 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 FUNDING TRUST ASSETin trust for the Empire Funding Home Loan Asset Backed Notes, Series 1997-BACKED NOTES, SERIES 1997A4". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note InsurerIndenture Trustee. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 AccountAccount acceptable to the Indenture Trustee.

Establishment of Collection Account. The Servicer, for the benefit of the Noteholders and the Note 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 FUNDING TRUST ASSETas Indenture Trustee, in trust for the Life Financial Home Loan Asset Backed Notes, Series 1997-BACKED NOTES, SERIES 1997A3". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note Insurerinstitution. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 Note 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 Noteholders Securityholders and the Note 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 FUNDING TRUST ASSET-ASSET BACKED NOTESSECURITIES, SERIES 1997A1997-1". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note Securities Insurer. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Securities Insurer and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 Note 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 Noteholders and the Note 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 FUNDING TRUST ASSETin trust for the Empire Funding Home Loan Asset Backed Securities, Series 1997-BACKED NOTES, SERIES 1997A2". Any The Collection Account may be maintained with the Indenture Trustee or, subject to the following paragraph, 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 Note InsurerIndenture Trustee. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and, upon request of any NoteholderSecurityholder, to such NoteholderSecurityholder. Funds in each 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 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 AccountAccount acceptable to the Indenture Trustee.