Establishment of Subaccounts Sample Clauses

Establishment of Subaccounts. (a) The following subaccounts are hereby created and established as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2020 Series A subaccount of the Acquisition Account, which shall consist of the Restricted Loan Subaccount; (ii) the 2020 Series A subaccount of the Negative Arbitrage Account; (iii) the 2020 Series A subaccount of the Cost of Issuance Account; (iv) the 2020 Series A subaccount of the Revenue Fund; (v) the 2020 Series A subaccount of the Rebate Fund; (vi) the 2020 Series A subaccount of the Debt Service Reserve Fund; (vii) the 2020 Series A subaccount of the Class I Debt Service Fund; and (viii) the 2020 Series A subaccount of the Class I Special Redemption Account.
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Establishment of Subaccounts. (a) The following subaccounts are hereby created and established in connection with the 2021A Bonds as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2021 Series A subaccount of the Acquisition Account, which shall consist of the 2021 Series A Restricted Loan Subaccount; (ii) the 2021 Series A subaccount of the Negative Arbitrage Account; (iii) the 2021 Series A subaccount of the Cost of Issuance Account; (iv) the 2021 Series A subaccount of the Revenue Fund; (v) the 2021 Series A subaccount of the Rebate Fund; (vi) the 2021 Series A subaccount of the Debt Service Reserve Fund; (vii) the 2021 Series A subaccount of the Class I Debt Service Fund; and (viii) the 2021 Series A subaccount of the Class I Special Redemption Account. (b) The following subaccounts are hereby created and established in connection with the 2021B Bonds as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2021 Series B subaccount of the Acquisition Account, which shall consist of the 2021 Series B Restricted Loan Subaccount; (ii) the 2021 Series B subaccount of the Negative Arbitrage Account; (iii) the 2021 Series B subaccount of the Cost of Issuance Account; (iv) the 2021 Series B subaccount of the Revenue Fund; (v) the 2021 Series B subaccount of the Class I Debt Service Fund; and (vi) the 2021 Series B subaccount of the Class I Special Redemption Account.
Sample 1See All (7)
Establishment of Subaccounts. (a) The following subaccounts are hereby created and established as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2023 Series Q subaccount of the Acquisition Account; (ii) the 2023 Series Q subaccount of the Cost of Issuance Account; (iii) the 2023 Series Q subaccount of the Loan Recycling Account; (iv) the 2023 Series Q subaccount of the Revenue Fund; (v) the 2023 Series Q subaccount of the Debt Service Reserve Fund; (vi) the 2023 Series Q subaccount of the Class I Debt Service Fund; and (vii) the 2023 Series Q subaccount of the Class I Special Redemption Account. (b) There is also hereby created and established a Bond Purchase Fund to be held by the Paying Agent and therein a Remarketing Proceeds Account and a Standby Purchase Account.
Sample 1See All (7)
Establishment of Subaccounts. The Account of a Participant who has made an election pursuant to this Article shall be subdivided as of the Transfer Date into a Subaccount corresponding to each of the Funds maintained under the Plan into which the Participant has made an election to have his Account invested. Such Participant’s Fund Subaccounts shall each have a balance as of the Transfer Date giving effect to the percentages indicated by the Participant’s election. If a Participant has not made an election as to any Fund, such Participant’s Account shall be placed into the Fund(s) determined under Section 14.2(e) and the Participant’s Fund Subaccount(s) shall have an aggregate value equal to the Participant’s entire Account balance.
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Establishment of Subaccounts. (a) The following subaccounts are hereby created and established in connection with the 2023A Bonds as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2023 Series A subaccount of the Acquisition Account, which shall consist of the Restricted Loan Subaccount; (ii) the 2023 Series A subaccount of the Negative Arbitrage Account; (iii) the 2023 Series A subaccount of the Cost of Issuance Account; (iv) the 2023 Series A subaccount of the Revenue Fund; (v) the 2023 Series A subaccount of the Rebate Fund; (vi) the 2023 Series A subaccount of the Debt Service Reserve Fund; (vii) the 2023 Series A subaccount of the Class I Debt Service Fund; and (viii) the 2023 Series A subaccount of the Class I Special Redemption Account.
Sample 1
Establishment of Subaccounts. (a) The following subaccounts are hereby created and established in connection with the 2024B Bonds as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (i) the 2024 Series B subaccount of the Acquisition Account, which shall consist of the 2024 Series B Restricted Loan Subaccount; (ii) the 2024 Series B subaccount of the Negative Arbitrage Account; (iii) the 2024 Series B subaccount of the Cost of Issuance Account; (iv) the 2024 Series B subaccount of the Revenue Fund; (v) the 2024 Series B subaccount of the Rebate Fund; (vi) the 2024 Series B subaccount of the Debt Service Reserve Fund; (vii) the 2024 Series B subaccount of the Class I Debt Service Fund; and (viii) the 2024 Series B subaccount of the Class I Special Redemption Account.
Sample 1
Establishment of Subaccounts. The following subaccounts are hereby created and established as special trust funds within the Funds and Accounts created and established pursuant to the Master Indenture: (a) the Series 2017-III subaccount of the Acquisition Account, which shall include the Construction Loan Reserve and Costs Subaccount; (b) the Series 2017-III subaccount of the Cost of Issuance Account; (c) the Series 2017-III subaccount of the Revenue Fund; (d) the Series 2017-III subaccount of the Debt Service Reserve Fund; (e) the Series 2017-III subaccount of the Debt Service Fund; and (f) the Series 2017-III subaccount of the Special Redemption Fund.
Sample 1
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Related to Establishment of Subaccounts

  • Establishment of Accounts (a) The Servicer shall establish and maintain an Eligible Account with the Securities Intermediary in the name of the Indenture Trustee for the benefit of (i) the Securityholders (the “Collection Account”), (ii) the Noteholders (the “Note Distribution Account”), (iii) the Securityholders (the “Reserve Fund”) and (iv) the Securityholders (the “Yield Supplement Account”), in each case, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the related Securityholders. Except as otherwise provided in this Agreement, in the event that the Indenture Trustee is no longer an Eligible Institution, the Servicer shall, with the assistance of the Indenture Trustee as necessary, cause the Accounts to be moved to an Eligible Institution. (b) To the extent permitted by applicable laws, rules and regulations, all amounts held in the Collection Account, the Reserve Fund and the Yield Supplement Account shall be either invested by the Securities Intermediary in Eligible Investments selected in writing by the Servicer or maintained in cash. No amounts held in the Note Distribution Account will be invested. Earnings on investment of funds in the Collection Account (net of losses and investment expenses) shall be paid to the Servicer as part of the Supplemental Servicing Fee and any losses and investment expenses shall be charged against the funds on deposit in the related Account. (i) Except as otherwise provided in Section 4.01(b), the Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Accounts and in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Owner Trust Estate. The Accounts shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders or the Securityholders, as the case may be. (ii) Notwithstanding anything else contained herein, the Servicer agrees that the Reserve Fund, the Yield Supplement Account and the Collection Account will be established only with an Eligible Institution which agrees substantially as follows: (A) it will comply with Entitlement Orders related to such account issued by the Indenture Trustee without further consent by the Servicer or Issuer; (B) until termination of this Agreement, it will not enter into any other agreement related to such account pursuant to which it agrees to comply with Entitlement Orders of any Person other than the Indenture Trustee; (C) all Account Property delivered or credited to it in connection with such account and all proceeds thereof will be promptly credited to such account; (D) it will treat all Account Property as Financial Assets; and (E) all Account Property will be physically delivered (accompanied by any required endorsements) to, or credited to an account in the name of, the Eligible Institution maintaining the related Account in accordance with such Eligible Institution’s customary procedures such that such Eligible Institution establishes a Security Entitlement in favor of the Indenture Trustee with respect thereto over which the Indenture Trustee (or such other Eligible Institution) has Control. (iii) The Servicer shall have the power, revocable by the Indenture Trustee or by the Owner Trustee with the consent of the Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Accounts for the purpose of permitting the Servicer or the Owner Trustee to carry out its respective duties hereunder or under the Trust Agreement or permitting the Indenture Trustee to carry out its duties under the Indenture.

  • Establishment of Collateral Accounts Securities Intermediary acknowledges and agrees that: (i) it has established and is maintaining on its books and records the accounts identified on the attached Schedule 1 (each such account, together with any replacements thereof or substitutions therefor, the “Collateral Account” and such accounts, collectively, the “Collateral Accounts”) in the name of the Borrower; (ii) each Collateral Account is a “securities account” (within the meaning of Section 8-501(a) of the UCC) in respect of which Securities Intermediary is a “securities intermediary” (within the meaning of Section 8-102(a)(14) of the UCC and, with respect to any Book-Entry Security, within the meaning of Federal Book-Entry Regulations) and the Security Agent is the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC); provided, however, that if, notwithstanding the intention of the parties hereto, all or any portion of the Collateral Account is determined to be a “deposit account” (within the meaning of Section 9-102 of the UCC) rather than a “securities account,” then the Securities Intermediary represents, warrants, covenants and agrees that it is a “bank” (as defined in Section 9-102(a)(8) of the UCC) and will treat the Borrower as its customer (within the meaning of Section 9-104(a)(3) of the UCC) with respect to the Collateral Accounts (or portion thereof); (iii) all property delivered, or to be delivered, to Securities Intermediary pursuant to this Agreement is, and will be, promptly credited to the Collateral Accounts; (iv) it does not know of any claim to or interest in any Collateral Account or any assets or funds therein, except for claims and interests of the parties to this Agreement as set forth herein; and (v) it shall not change the name or account number of any Collateral Account without the prior written consent of the Security Agent. Except as provided in Section 2(b), Securities Intermediary agrees that it shall not take “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104(a)(2) of the UCC) with respect to the Collateral Accounts or any assets or funds therein from any Person other than the Security Agent.

  • Establishment of Collection Account (a) The Servicer, on behalf of the Issuer and the Indenture Trustee, shall establish the Collection Account in the name of the Indenture Trustee for the benefit of the Securityholders. The Collection Account shall be an Eligible Deposit Account initially established with the Indenture Trustee and maintained with the Indenture Trustee. Except as otherwise provided in this Agreement, in the event that the Collection Account maintained with the Indenture Trustee is no longer an Eligible Deposit Account, then the Servicer shall, with the Indenture Trustee’s assistance, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution within thirty days. (b) For so long as the Collection Account is maintained as an Eligible Deposit Account, all amounts held in these accounts shall, to the extent permitted by applicable laws, rules and regulations, be invested, as directed in writing by the Servicer, in Eligible Investments; otherwise such amounts shall be maintained in cash. Earnings on investment of funds in these accounts (net of losses and investment expenses) shall be paid to the Servicer on each Payment Date as servicing compensation, and any losses and investment expenses shall be charged against the funds on deposit in the related account. (c) For so long as Deutsche Bank Trust Company Americas is the Indenture Trustee, the Collection Account shall be maintained with Deutsche Bank Trust Company Americas as an Eligible Deposit Account. In the event that the long-term debt rating of the Indenture Trustee does not satisfy clause (a) of the definition of Eligible Deposit Account, the Servicer shall, with the assistance of the Indenture Trustee, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution or an account otherwise satisfying the requirements of clause (b) of the definition of Eligible Deposit Account (which may be an account with the Indenture Trustee) within thirty days. (d) The Indenture Trustee shall transfer all amounts remaining on deposit in the Collection Account on the Payment Date on which the Notes of all Classes have been paid in full (or substantially all of the Trust Estate is otherwise released from the lien of the Indenture) to the Issuer for the benefit of the Certificateholder, and to take all necessary or appropriate actions to transfer all of its right, title and interest in the Collection Account, all funds or investments held or to be held therein and all proceeds thereof, to the Issuer for the benefit of the Certificateholder, subject to the limitations set forth in the Indenture with respect to amounts held for payment to the Noteholders that do not promptly deliver a Note for payment on such Payment Date. (e) With respect to the Collection Account and all property held therein, the Issuer agrees, by its acceptance hereof that, on the terms and conditions set forth in the Indenture, for so long as Notes of any Class remain outstanding, the Indenture Trustee shall possess all right, title and interest therein (excluding interest or investment income thereon payable to the Servicer), and that such account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders and the Certificateholder, as set forth in the Indenture. The parties hereto agree that the Servicer shall have the power, revocable by the Indenture Trustee upon an Event of Default resulting in an acceleration of the Notes or liquidation of the Trust Estate or by the Owner Trustee with the consent of the Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Collection Account for the purpose of permitting the Servicer, Indenture Trustee or the Owner Trustee to carry out its respective duties hereunder or under the Indenture or the Trust Agreement, as the case may be.

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