Common use of ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS Clause in Contracts

ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS. (a) On or prior to the Closing Date relating to a Series, the Collateral Agent shall establish with respect to such Series, at its office or at another depository institution or trust company an Eligible Account, designated, "Spread Account--Series [insert Series designation] --Norwest Bank Minnesota, National Association, as Collateral Agent for Financial Security Assurance Inc. and another Secured Party" (the "Spread Account"). The Spread Accounts established under this Agreement may be maintained at one or more depository institutions (which depository institutions may be changed from time to time in accordance with this Agreement). If any Spread Account established with respect to a Series ceases to be an Eligible Account, the Collateral Agent shall, within five Business Days, establish a new Eligible Account for such Series.

Appears in 3 contracts

Samples: Spread Account Agreement (Arcadia Financial LTD), Spread Account Agreement (Arcadia Financial LTD), Execution Copy Spread Account Agreement (Arcadia Financial LTD)

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ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS. (a) On or prior to the Closing Date relating to a Series, the Collateral Agent shall establish with respect to such Series, at its office or at another depository institution or trust company an Eligible Account, designated, "Spread Account--Account -- Series [insert Series designation] --Norwest -- Norwest Bank Minnesota, National Association, as Collateral Agent for Financial Security Assurance Inc. and another Secured Party" (the "Spread Account"). The All Spread Accounts established under this Agreement may from time to time shall be maintained at one or more the same depository institutions institution (which depository institutions institution may be changed from time to time in accordance with this Agreement). If any Spread Account established with respect to a Series ceases to be an Eligible Account, the Collateral Agent shall, within five Business Days, establish a new Eligible Account for such Series.

Appears in 3 contracts

Samples: Spread Account Agreement (Arcadia Financial LTD), Spread Account Agreement (Olympic Financial LTD), Spread Account Agreement (Olympic Financial LTD)

ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS. (a) On or prior to the Closing Date relating to a Series, the Collateral Agent shall establish with respect to such Series, at its office or at another depository institution or trust company an Eligible Account, designated, "Spread Account--Account -- Series [insert Series designation] --Norwest -- Norwest Bank Minnesota, National Association, as Collateral Agent for Financial Security 16 Assurance Inc. and another Secured Party" (the "Spread Account"). The All Spread Accounts established under this Agreement may from time to time shall be maintained at one or more the same depository institutions institution (which depository institutions institution may be changed from time to time in accordance with this Agreement). If any Spread Account established with respect to a Series ceases to be an Eligible Account, the Collateral Agent shall, within five Business Days, establish a new Eligible Account for such Series.

Appears in 1 contract

Samples: Spread Account Agreement (Olympic Financial LTD)

ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS. (a) On or prior to the Closing Date relating to a Series, the Collateral Agent shall establish with respect to such Series, at its office or at another depository institution or trust company an Eligible Account, designated, "Spread Account--Account -- Series [insert Series designation] --Norwest -- Norwest Bank Minnesota, National Association, as Collateral Agent for Financial Security Assurance Inc. and another Secured Party" (the "Spread Account"). The Spread Accounts established under this Agreement may be maintained at one or more depository institutions (which depository institutions may be changed from time to time in accordance with this Agreement). If any Spread Account established with respect to a Series ceases to be an Eligible Account, the Collateral Agent shall, within five Business Days, establish a new Eligible Account for such Series.

Appears in 1 contract

Samples: Spread Account Agreement (Arcadia Financial LTD)

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ESTABLISHMENT OF SPREAD ACCOUNTS; INITIAL DEPOSITS INTO SPREAD ACCOUNTS. (a) On or prior to the Closing Date relating to a Series, the Collateral Agent shall establish with respect to such Series, at its office or at another depository institution or trust company an Eligible Account, designated, "Spread Account--Series [insert Series designation] --Norwest designation]--Norwest Bank Minnesota, National Association, as Collateral Agent for Financial Security Assurance Inc. and another Secured Party" (the "Spread Account"). The Spread Accounts established under this Agreement may be maintained at one or more depository institutions (which depository institutions may be changed from time to time in accordance with this Agreement). If any Spread Account established with respect to a Series ceases to be an Eligible Account, the Collateral Agent shall, within five Business Days, establish a new Eligible Account for such Series.

Appears in 1 contract

Samples: Spread Account Agreement (Arcadia Financial LTD)

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