Common use of Establishment of Series 2009-1 Distribution Account Clause in Contracts

Establishment of Series 2009-1 Distribution Account. The Trustee have established and maintained, and shall continue to maintain, in the name of the Trustee for the benefit of the Series 2009-1 Noteholders an account (the “Series 2009-1 Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2009-1 Noteholders. The Series 2009-1 Distribution Account shall be an Eligible Deposit Account. If the Series 2009-1 Distribution Account is at any time no longer an Eligible Deposit Account, HVF shall, within 10 Business Days of obtaining knowledge that the Series 2009-1 Distribution Account is no longer an Eligible Deposit Account, establish a new Series 2009-1 Distribution Account that is an Eligible Deposit Account. If a new Series 2009-1 Distribution Account is established, HVF shall instruct the Trustee in writing to transfer all cash and investments from the non-qualifying Series 2009-1 Distribution Account into the new Series 2009-1 Distribution Account. Initially, the Series 2009-1 Distribution Account will be established with the Trustee.

Appears in 2 contracts

Samples: Cinelease, LLC, Hertz Global Holdings Inc

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Establishment of Series 2009-1 Distribution Account. The Trustee have established shall establish and maintained, and shall continue to maintain, maintain in the name of the Trustee for the benefit of the Series 2009-1 Noteholders an account (the “Series 2009-1 Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2009-1 Noteholders. The Series 2009-1 Distribution Account shall be an Eligible Deposit Account. If the Series 2009-1 Distribution Account is at any time no longer an Eligible Deposit Account, HVF shall, within 10 Business Days of obtaining knowledge that the Series 2009-1 Distribution Account is no longer an Eligible Deposit Account, establish a new Series 2009-1 Distribution Account that is an Eligible Deposit Account. If a new Series 2009-1 Distribution Account is established, HVF shall instruct the Trustee in writing to transfer all cash and investments from the non-qualifying Series 2009-1 Distribution Account into the new Series 2009-1 Distribution Account. Initially, the Series 2009-1 Distribution Account will be established with the Trustee.

Appears in 1 contract

Samples: Hertz Global Holdings Inc

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Establishment of Series 2009-1 Distribution Account. The Trustee have established and maintained, and shall continue to maintain, in the name of the Trustee for the benefit of the Series 2009-1 Noteholders an account (the “Series 2009-1 Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2009-1 Noteholders. The Series 2009-1 Distribution Account shall be an Eligible Deposit Account. If the Series 2009-1 Distribution Account is at any time no longer an Eligible Deposit Account, HVF shall, within 10 Business Days of obtaining knowledge that the Series 2009-1 Distribution Account is no longer an Eligible Deposit Account, establish a new Series 2009-1 Distribution Account that is an Eligible Deposit Account. If a new Series 2009-1 Distribution Account is established, HVF shall instruct the Trustee in writing to transfer all cash and investments from the non-qualifying Series 2009-1 Distribution Account into 65 the new Series 2009-1 Distribution Account. Initially, the Series 2009-1 Distribution Account will be established with the Trustee.

Appears in 1 contract

Samples: Hertz Global Holdings Inc

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