Common use of Establishment of Deposit Account Clause in Contracts

Establishment of Deposit Account. The Bank hereby confirms and agrees that: (a) The Bank has established account number 10-880247 designated as the “Collection Account” pursuant to Section 3.02(b) of the Pooling and Servicing Agreement and account number 10-880248, designated as the “Carryover Reserve Fund” pursuant to Section 4.04 of the Pooling and Servicing Agreement, each in the name “HSBC Bank USA, National Association, as Administrator on behalf of U.S. Bank National Association, as Trustee, in trust for the Certificateholders of HSBC Home Equity Loan Trust (USA) 2007-2, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2007-2” (each such account and any successor account thereof, a “Deposit Account”). Except as provided in Section 12 hereof, the Bank shall not change a name, account number or designation of a Deposit Account without the prior written consent of the Trustee and without prior written notice to the Servicer, which notice shall state the proposed effective date of any such change; (b) The Bank is an organization engaged in the business of banking and is acting in such capacity in maintaining each Deposit Account and acting as Bank hereunder; (c) Each Deposit Account has been established and will be maintained as a “deposit account” (as defined in Section 9-102(29) of the UCC) and is not evidenced by an “instrument” (as defined in Section 9-102(47) of the UCC); (d) The Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to each Deposit Account; (e) All cash and money delivered to the Bank pursuant to the Pooling and Servicing Agreement will be promptly credited to each Deposit Account in accordance with the terms of the Transaction Documents; and (f) The Bank’s “jurisdiction” (within the meaning of Section 9-304 of the UCC) is the State of New York.

Establishment of Deposit Account. The Bank hereby confirms and agrees that: (a) The Bank has established account number 10-880247 880216 designated as the “Collection Account” pursuant to Section 3.02(b) of the Pooling and Servicing Agreement and account number 10-880248880217, designated as the “Carryover Reserve Fund” pursuant to Section 4.04 of the Pooling and Servicing Agreement, each in the name “HSBC Bank USA, National Association, as Administrator on behalf of U.S. Bank National Association, as Trustee, in trust for the Certificateholders of HSBC Home Equity Loan Trust (USA) 2007-21, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2007-21” (each such account and any successor account thereof, a “Deposit Account”). Except as provided in Section 12 hereof, the Bank shall not change a name, account number or designation of a Deposit Account without the prior written consent of the Trustee and without prior written notice to the Servicer, which notice shall state the proposed effective date of any such change; (b) The Bank is an organization engaged in the business of banking and is acting in such capacity in maintaining each Deposit Account and acting as Bank hereunder; (c) Each Deposit Account has been established and will be maintained as a “deposit account” (as defined in Section 9-102(29) of the UCC) and is not evidenced by an “instrument” (as defined in Section 9-102(47) of the UCC); (d) The Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to each Deposit Account; (e) All cash and money delivered to the Bank pursuant to the Pooling and Servicing Agreement will be promptly credited to each Deposit Account in accordance with the terms of the Transaction Documents; and (f) The Bank’s “jurisdiction” (within the meaning of Section 9-304 of the UCC) is the State of New York.

Establishment of Deposit Account. The Bank hereby confirms and agrees that: (a) The Bank has established account number 10-880247 879860 designated as the “Collection Account” pursuant to Section 3.02(b) of the Pooling and Servicing Agreement and account number 10-880248879861, designated as the “Carryover Reserve Fund” pursuant to Section 4.04 of the Pooling and Servicing Agreement, each in the name “HSBC Bank USA, National Association, as Administrator on behalf of U.S. Bank National Association, as Trustee, in trust for the Certificateholders of HSBC Home Equity Loan Trust (USA) 20072006-24, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20072006-24” (each such account and any successor account thereof, a “Deposit Account”). Except as provided in Section 12 hereof, the Bank shall not change a name, account number or designation of a Deposit Account without the prior written consent of the Trustee and without prior written notice to the Servicer, which notice shall state the proposed effective date of any such change; (b) The Bank is an organization engaged in the business of banking and is acting in such capacity in maintaining each Deposit Account and acting as Bank hereunder; (c) Each Deposit Account has been established and will be maintained as a “deposit account” (as defined in Section 9-102(29) of the UCC) and is not evidenced by an “instrument” (as defined in Section 9-102(47) of the UCC); (d) The Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to each Deposit Account; (e) All cash and money delivered to the Bank pursuant to the Pooling and Servicing Agreement will be promptly credited to each Deposit Account in accordance with the terms of the Transaction Documents; and (f) The Bank’s “jurisdiction” (within the meaning of Section 9-304 of the UCC) is the State of New York.

Establishment of Deposit Account. The Bank hereby confirms and agrees that: (a) The Bank has established account number 10-880247 880568 designated as the “Collection Account” pursuant to Section 3.02(b) of the Pooling and Servicing Agreement and account number 10-880248880569, designated as the “Carryover Reserve Fund” pursuant to Section 4.04 of the Pooling and Servicing Agreement, each in the name “HSBC Bank USA, National Association, as Administrator on behalf of U.S. Bank National Association, as Trustee, in trust for the Certificateholders of HSBC Home Equity Loan Trust (USA) 2007-23, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2007-23” (each such account and any successor account thereof, a “Deposit Account”). Except as provided in Section 12 hereof, the Bank shall not change a name, account number or designation of a Deposit Account without the prior written consent of the Trustee and without prior written notice to the Servicer, which notice shall state the proposed effective date of any such change; (b) The Bank is an organization engaged in the business of banking and is acting in such capacity in maintaining each Deposit Account and acting as Bank hereunder; (c) Each Deposit Account has been established and will be maintained as a “deposit account” (as defined in Section 9-102(29) of the UCC) and is not evidenced by an “instrument” (as defined in Section 9-102(47) of the UCC); (d) The Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to each Deposit Account; (e) All cash and money delivered to the Bank pursuant to the Pooling and Servicing Agreement will be promptly credited to each Deposit Account in accordance with the terms of the Transaction Documents; and (f) The Bank’s “jurisdiction” (within the meaning of Section 9-304 of the UCC) is the State of New York.