Establishment of Distribution Account. The Servicer, for the benefit of the Noteholders, shall cause to be established and maintained, one or more Distribution Accounts (collectively, the “Distribution Account”), which shall be separate Eligible Accounts, entitled “Option One Owner Trust 2003-5 Distribution Account, Wxxxx Fargo Bank Minnesota, National Association, as Indenture Trustee, for the benefit of the Option One Owner Trust 2003-5
Establishment of Distribution Account. The Paying Agent, for the benefit of the Noteholders, shall cause to be established and maintained with the Paying Agent, a non-interest bearing segregated trust account that is a Qualified Account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of Noteholders. The Paying Agent shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Paying Agent for the benefit of Noteholders. If the Distribution Account ceases at any time to be a Qualified Account, the Indenture Trustee shall within 10 Business Days (or such longer period, not to exceed 30 calendar days) establish a new Distribution Account which is a Qualified Account, transfer any funds on deposit in the existing Distribution Account to such new Distribution Account and from the date such new Distribution Account is established, it shall be the “Distribution Account.”
Establishment of Distribution Account. The Indenture Trustee, for the benefit of the Noteholders, shall cause to be established and maintained, one or more Distribution Accounts (collectively, the “Distribution Account”), which shall be separate Eligible Accounts, entitled “CapitalSource Funding II Trust Distribution Account.” The Distribution Account shall be maintained with a depository institution and shall satisfy the requirements set forth in the definition of Eligible Account. Funds in the Distribution Account shall remain uninvested.
Establishment of Distribution Account. No later than the date hereof, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with LaSalle National Bank one or more Distribution Accounts (collectively, the "Distribution Account"), which shall be separate Eligible Accounts and may be interest bearing, entitled "Distribution Account, LaSalle National Bank, as Indenture Trustee, in trust for the FFCA Franchise Loan Backed Notes, Series 1998-1." Funds in the Distribution Account shall not be invested.
Establishment of Distribution Account. No later than the date hereof, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with Bankers Trust Company of California, N.A., one or more Distribution Accounts (collectively, the "Distribution Account"), which shall be separate Eligible Accounts, entitled "Distribution Account, Bankers Trust Company of California, N.A., as Indenture Trustee, for the benefit of the Advanta Home Equity Loan Owner Trust 1998-MS1."
Establishment of Distribution Account. (a) (i) The Trustee, for the benefit of the Series 2004-NTC Certificateholder, shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Distribution Account”) which shall be identified as the “Distribution Account” for the Distribution Financial Services Floorplan Master Trust, Series 2004-NTC” and shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2004-NTC Certificateholder.
Establishment of Distribution Account. The Paying Agent, for ------------------------------------- the benefit of the Noteholders, shall cause to be established and maintained with the Paying Agent, a non-interest bearing segregated trust account that is a Qualified Account (the "Distribution Account") bearing a designation clearly --------------------- indicating that the funds deposited therein are held in trust for the benefit of Noteholders. The Paying Agent shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Paying Agent for the benefit of Noteholders. If the Distribution Account ceases at any time to be a Qualified Account, the Paying Agent shall within 10 Business Days (or such longer period, not to exceed 30 calendar days) establish a new Distribution Account which is a Qualified Account, transfer any funds on deposit in the existing Distribution Account to such new Distribution Account and from the date such new Distribution Account is established, it shall be the "Distribution Account."
Establishment of Distribution Account. The Administrative Agent, for the benefit of the Lenders, shall cause to be established and maintained one or more Distribution Accounts (collectively, the “Distribution Account”), which shall be separate Eligible Accounts, entitled “CapitalSource Funding V Trust Distribution Account”. Funds in the Distribution Account shall remain uninvested.
Establishment of Distribution Account. The Depositor shall cause to be established, and the Indenture Trustee shall maintain, at the Corporate Trust Office of the Indenture Trustee, a Distribution Account to be held by the Indenture Trustee in the name of the Issuer for the benefit of the Indenture Trustee, the Noteholders and the Insurer, as their interests may appear. Such account shall be an Eligible Account. The Indenture Trustee shall hold funds in the Distribution Account uninvested or may invest such funds in Eligible Investments selected by the Indenture Trustee, all in its discretion. All income and gain realized from the Indenture Trustee's holding or investment of the funds in the Distribution Account shall be for the benefit of the Indenture Trustee and shall be subject to its withdrawal from time to time. Any withdrawal of funds from the Distribution Account by the Indenture Trustee shall be made for the following purposes:
(i) If not received by the Servicer pursuant to the Master Servicing Agreement, to the Servicer in payment of the Servicing Fee;
(ii) To withdraw and retain any earnings on or investment income with respect to funds in or credited to the Distribution Account;
(iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture;
(iv) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Distribution Account; and
(v) Upon termination of the Trust, to make any payments required by Section 7.01. If the Servicer deposits in the Distribution Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non payment, the Indenture Trustee shall, upon request of the Servicer, immediately withdraw such amount from the Distribution Account, and any such amounts shall not be included in the amounts to be deposited in the Distribution Account pursuant to this Agreement, any provision herein to the contrary notwithstanding.
Establishment of Distribution Account. No later than the date hereof, the Servicer, for the benefit of the Certificateholders, shall cause to be established and maintained with Wilmington Trust Company one or more Distribution Accounts (collectively, the "Distribution Account"), which shall be separate Eligible Accounts, entitled "Distribution Account, Wilmington Trust Company, as Owner Trustee, for the benefit of the FINOVA -101- 109 Commercial Mortgage Loan Asset-Backed Certificates, Series 1998-1." Funds in the Distribution Account shall be invested in accordance with Section 7.03 hereof.
