Common use of Establishment of Deposit Accounts Clause in Contracts

Establishment of Deposit Accounts. The Bank hereby confirms and agrees that: (a) The Bank has established account numbers 10-879533 (the “Collection Account”) and 10-879534 (the “Reserve Account”) in the name “HSBC Bank USA, National Association, as Administrator on behalf of The Bank of New York, as Indenture Trustee, in trust for the registered holders of HSBC Automotive Trust (USA) 2006-2 Notes” (such accounts and any successor accounts thereof, the “Deposit Accounts”) designated as the “Collection Account” and the “Reserve Account”, respectively, pursuant to the Indenture. Except as provided in Section 12 hereof, the Bank shall not change the name, account number or designation of the Deposit Accounts without the prior written consent of the Indenture 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 the Deposit Accounts 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 Indenture Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to the Deposit Accounts; (e) All cash and money delivered to the Bank pursuant to the Indenture will be promptly credited to the Deposit Accounts in accordance with the terms of the Basic 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 Accounts. The Bank hereby confirms and agrees that: (a) The Bank has established account numbers 10-879533 879935 (the “"Collection Account”") and 10-879534 879936 (the “"Reserve Account”") in the name “"HSBC Bank USA, National Association, as Administrator on behalf of The Deutsche Bank of New YorkTrust Company Americas, as Indenture Trustee, in trust for the registered holders of HSBC Automotive Trust (USA) 20062007-2 1 Notes” " (such accounts and any successor accounts thereof, the “"Deposit Accounts”") designated as the “"Collection Account” " and the “"Reserve Account”", respectively, pursuant to the Indenture. Except as provided in Section 12 hereof, the Bank shall not change the name, account number or designation of the Deposit Accounts without the prior written consent of the Indenture 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 the Deposit Accounts and acting as Bank hereunder; (c) Each Deposit Account has been established and will be maintained as a “"deposit account”(as 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 Indenture Trustee is the Bank’s 's sole “"customer” " (within the meaning of Section 9-104 of the UCC) with respect to the Deposit Accounts; (e) All cash and money delivered to the Bank pursuant to the Indenture will be promptly credited to the Deposit Accounts in accordance with the terms of the Basic Documents; and (f) The Bank’s “'s "jurisdiction” " (within the meaning of Section 9-304 of the UCC) is the State of New York.

Establishment of Deposit Accounts. The Bank hereby confirms and agrees that: (a) The Bank has established account numbers 10-879533 879490 (the “Collection Account”) and 10-879534 879491 (the “Reserve Account”) in the name “HSBC Bank USA, National Association, as Administrator on behalf of The Bank of New York, as Indenture Trustee, in trust for the registered holders of HSBC Automotive Trust (USA) 2006-2 1 Notes” (such accounts and any successor accounts thereof, the “Deposit Accounts”) designated as the “Collection Account” and the “Reserve Account”, respectively, pursuant to the Indenture. Except as provided in Section 12 hereof, the Bank shall not change the name, account number or designation of the Deposit Accounts without the prior written consent of the Indenture 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 the Deposit Accounts 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 Indenture Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to the Deposit Accounts; (e) All cash and money delivered to the Bank pursuant to the Indenture will be promptly credited to the Deposit Accounts in accordance with the terms of the Basic 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 Accounts. The Bank hereby confirms and agrees that: (a) The Bank has established account numbers 10-879533 879781 (the “Collection Account”) and 10-879534 879782 (the “Reserve Account”) in the name “HSBC Bank USA, National Association, as Administrator on behalf of The Bank of New YorkYork Trust Company, N.A., as Indenture Trustee, in trust for the registered holders of HSBC Automotive Trust (USA) 2006-2 3 Notes” (such accounts and any successor accounts thereof, the “Deposit Accounts”) designated as the “Collection Account” and the “Reserve Account”, respectively, pursuant to the Indenture. Except as provided in Section 12 hereof, the Bank shall not change the name, account number or designation of the Deposit Accounts without the prior written consent of the Indenture 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 the Deposit Accounts 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 Indenture Trustee is the Bank’s sole “customer” (within the meaning of Section 9-104 of the UCC) with respect to the Deposit Accounts; (e) All cash and money delivered to the Bank pursuant to the Indenture will be promptly credited to the Deposit Accounts in accordance with the terms of the Basic Documents; and (f) The Bank’s “jurisdiction” (within the meaning of Section 9-304 of the UCC) is the State of New York.