Establishment of Series Accounts. To the extent specified in the Series Supplement with respect to any Series of Notes, the Trustee may establish and maintain one or more Series Accounts and/or administrative accounts of any such Series Account in accordance with the terms of such Series Supplement.
Establishment of Series Accounts. If so provided in the related Indenture Supplement, the Issuer, for the benefit of the Noteholders and other Person as may be identified in such Indenture Supplement, shall establish and maintain with the Indenture Trustee or its nominee in the name of the Indenture Trustee one or more Series Accounts, which Series Accounts also shall be Qualified Accounts (unless such requirement is waived in the related Indenture Supplement). Each such Series Account shall bear a designation clearing indicating that the funds deposited therein are held for the benefit of Noteholders of such Series.
Establishment of Series Accounts. (a) The Servicer, for the benefit of the Series 1997-1 Certificateholders, shall establish and maintain an Eligible Deposit Account in the name of the Trustee, on behalf of the Trust (the "Series 1997-1 Trustee's Account"), which shall be identified as the "Series 1997-1 Trustee's Account for the Federal-Mogul Trade Receivables Master Trust, Series 1997-1" and shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-1 Certificateholders. The Series 1997-1 Trustee's Account initially shall be established as a segregated trust account at The Chase Manhattan Bank.
(b) At the direction of the Servicer (which may be a standing direction), funds on deposit in the Series 1997-1 Trustee's Account shall be invested by the Trustee in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Trustee for the benefit of the Series 1997-1 Certificateholders. On each Distribution Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Series 1997-1 Trustee's Account shall be applied as set forth in Section 4.05 of this Series Supplement. Funds on deposit in the Series 1997-1 Trustee's Account shall be invested at the written direction of the Servicer in Eligible Investments that will mature so that such funds will be available on or before the close of business on the Business Day next preceding the following Distribution Date. Funds deposited in the Series 1997-1 Trustee's Account on a Business Day which immediately precedes a Distribution Date upon the maturity of any Eligible Investments are not required to be invested overnight.
(i) The Trustee shall possess all right, title and interest in and to all funds on deposit from time to time in, and all Eligible Investments credited to, the Series 1997-1 Trustee's Account and in all proceeds thereof. The Series 1997-1 Trustee's Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-1
Establishment of Series Accounts. The Obligors shall in the respective Series Supplement direct the Trustee to establish and maintain with respect to each Series such Series Accounts as the Obligors shall deem to be appropriate.
Establishment of Series Accounts. (a) The Trustee shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, (i) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, a subaccount of the Collection Account (the "Series 1998-1 Collection Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 1998-1, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; (ii) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, two subaccounts of the Series 1998-1 Collection Subaccount: the Series 1998-1 Principal Collection Sub-subaccount and the Series 1998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1998-1 Principal Collection Sub-subaccount" and the "Series 1998-1 Non-Principal Collection Sub-subaccount"), each bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; and (iii) for the benefit of the VFC Certificateholders, a subaccount of the Series 1998-1 Non-Principal Collection Sub-subaccount (the "Series 1998-1 Accrued Interest Sub-subaccount"; all accounts established pursuant to this subsection 3C.2(a) being referred to herein collectively as the "Series Accounts" and the accounts listed on Schedule 1 being referred to herein, collectively as the "Trust Accounts"). The Trustee shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Series Accounts and Trust Accounts and in all proceeds thereof. The Trust Accounts and the Series Accounts shall be under the sole dominion and control of the Trustee for, in the case of the Series Accounts, the exclusive benefit of the VFC Certificateholders and to the extent applicable, subject to the prior interest of the VFC Certificateholders, to the holder of the Subordinated Certificate.
(b) All Eligible Investments in the Series Accounts shall be held by...
Establishment of Series Accounts. To the extent specified in the Series Supplement with respect to any Series of Notes, the Trustee may establish and maintain one or more Series Accounts and/or administrative accounts of any such Series Account in accordance with the terms of such Series Supplement. In addition, the Trustee shall continue to maintain the Insurer Premiums Account for the purpose of disbursing any amounts deposited therein on or prior to the Closing Date, and shall disburse such amounts to any of the Insurers or to their counsel pursuant to instructions delivered by the Co-Issuers to the Trustee.
Establishment of Series Accounts. 43 Section 7.02. Investment of Funds in the Series Accounts.................... 43
Establishment of Series Accounts. 18 SECTION 4.02.
Establishment of Series Accounts. 20 SECTION 4.05 Application of Series 1997-1 Collections and Investment Proceeds . . . . . . .
Establishment of Series Accounts. 26 TABLE OF CONTENTS (CONTINUED)
