Common use of Establishment of the Collection Account Clause in Contracts

Establishment of the Collection Account. The Borrower established before the Effective Date an account in the name of the Borrower for the purpose of receiving Collections from the Collateral (the “Collection Account”), which shall be maintained with an office or branch of U.S. Bank National Association in accordance with the Account Control Agreement and which shall be subject to the lien of the Administrative Agent. The account number with respect to the Collection Account shall be set forth on Schedule VIII, as updated from time to time with the prior written consent of the Administrative Agent. In addition, the Borrower shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower shall from time to time deposit into the Interest Collection Subaccount, promptly upon receipt thereof, all Interest Collections received by the Borrower. The Borrower shall deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including all Principal Collections received by the Borrower. All amounts deposited from time to time in the Collection Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided. The Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the Collection Account. On or after the date of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided and (ii) the Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC Account.

Establishment of the Collection Account. The Borrower Servicer, for the benefit of the Beneficiaries, shall cause to be established before the Effective Date an account and maintained in the name of the Borrower Trust an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the purpose benefit of receiving Collections the Beneficiaries (the "Collection Account"). 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 Collection Account and in all proceeds thereof. The Collection Account shall be under the sole dominion and control of the Trustee for the benefit of the Beneficiaries. If, at any time, the Collection Account ceases to be an Eligible Deposit Account, the Servicer shall establish a substitute Eligible Deposit Account as the Collection Account, instruct the Trustee to transfer any cash and/or any Eligible Investments to such new Collection Account and, from the Collateral (date any such substitute account is established, such account shall be the “Collection Account”). Pursuant to the authority granted to the Servicer in Section 3.01 hereof, which the Servicer shall have the power, revocable by the Trustee, to instruct the Trustee to make withdrawals and payments from the Collection Account for the purposes of carrying out the duties of the Servicer or the Trustee as specified in this Agreement. All Eligible Investments shall be maintained with an office or branch of U.S. Bank National Association in accordance with held by the Account Control Agreement and which shall be subject to Trustee for the lien benefit of the Administrative AgentBeneficiaries. The account number with respect to Funds on deposit in the Collection Account shall, at the written direction of the Servicer, be invested by the Trustee solely in Eligible Investments that will mature so that such funds will be available at the close of business on or before the next Business Day. Each Business Day, all interest and other investment income (net of losses and investment expenses) earned on funds on deposit in the Collection Account shall be set forth on released to the Depositor. Schedule VIIIII, as updated from time to time with the prior written consent which is hereby incorporated into and made part of the Administrative Agent. In additionthis Agreement, the Borrower shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower shall from time to time deposit into the Interest Collection Subaccount, promptly upon receipt thereof, all Interest Collections received by the Borrower. The Borrower shall deposit promptly upon receipt thereof all other amounts remitted to identifies the Collection Account into by setting forth the Principal Collection Subaccount including all Principal Collections received by account number of such account, the Borroweraccount designation of such account and the name of the institution with which such account has been established. All amounts deposited from time to time in the If a substitute Collection Account is established pursuant to this Agreement Section 4.02, the Servicer shall be held as part of the Collateral and shall be applied provide to the purposes herein provided. The Administrative Agent shall at all times have “control” within Trustee an amended Schedule II, setting forth the meaning of the applicable UCC over the relevant information for such substitute Collection Account. On or after the date of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided and (ii) the Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC Account.

Establishment of the Collection Account. The Borrower Servicer, for the benefit of the Certificateholders and the other Beneficiaries, shall cause to be established before the Effective Date an account and maintained in the name of the Borrower Trust an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the purpose benefit of receiving Collections the Certificateholders and the other Beneficiaries (the "Collection Account"). 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 Collection Account and in all proceeds thereof. The Collection Account shall be under the sole dominion and control of the Trustee for the benefit of the Certificateholders and the other Beneficiaries. If, at any time, the Collection Account ceases to be an Eligible Deposit Account, the Servicer shall, within 10 days after such occurrence, establish a substitute Eligible Deposit Account as the Collection Account, instruct the Trustee to transfer any cash and/or any Eligible Investments to such new Collection Account and, from the Collateral (date any such substitute account is established, such account shall be the “Collection Account”). Neither the Seller nor the Servicer, which nor any Person claiming by, through or under the Seller or Servicer, shall have any right, title or interest in, or any right to withdraw any amount from, the Collection Account. Pursuant to the authority granted to the Servicer in Section 3.1, the Servicer shall have the power, revocable by the Trustee, to instruct the Trustee to make withdrawals and payments from the Collection Account for the purposes of carrying out the Servicer's or Trustee's duties specified in this Agreement. All Eligible Investments shall be maintained with an office or branch of U.S. Bank National Association in accordance with held by the Account Control Agreement and which shall be subject to Trustee for the lien benefit of the Administrative AgentCertificateholders and the other Beneficiaries. The account number with Funds on deposit in the Collection Account shall at the direction of the Servicer be invested by the Trustee solely in Eligible Investments that will mature so that such funds will be available at the close of business on or before the Business Day next preceding the following Distribution Date (or on or before 10:00 a.m. on such following Distribution Date in the case of Eligible Investments in respect of which the Trustee is the obligor). Any request by the Servicer to invest funds in the Collection Account shall be set forth on Schedule VIII, as updated from in writing and shall certify that the requested investment is an Eligible Investment that matures at or prior to the time to time with the prior written consent required hereby. As of the Administrative Agent. In addition, the Borrower shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower shall from time to time deposit into the Interest Collection Subaccount, promptly upon receipt thereofeach Determination Date, all Interest Collections received by the Borrower. The Borrower shall interest and other investment earnings (net of losses and investment expenses) on funds on deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including all Principal Collections received by the Borrower. All amounts deposited from time to time in the Collection Account pursuant to this Agreement received on such Determination Date shall be held as part of the Collateral and shall be applied credited to the purposes herein provided. The Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the Collection Account. On or after Schedule 2, which is hereby incorporated into and made part of this Agreement, identifies the date Collection Account by setting forth the account number of such account, the account designation of such account and the name of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Eligible Institution with which such account has been established. If a substitute Collection Account is established pursuant to this Agreement Section 4.2, the Servicer shall be held as part of the Collateral and shall be applied provide to the purposes herein provided and (ii) Trustee an amended Schedule 2, setting forth the Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC relevant information for such substitute Collection Account.

Establishment of the Collection Account. The Borrower established before the Effective Date an account in the name of the Borrower for the purpose of receiving Collections from the Collateral (the “Collection Account”), which shall be maintained with an office or branch of U.S. Bank National Association in accordance with the Account Control Agreement and which shall be subject to the lien of the Administrative Agent. The account number with respect to the Collection Account shall be set forth on Schedule VIII, as updated from time to time with the prior written consent of the Administrative Agent. In addition, the Borrower shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower shall from time to time deposit into the Interest Collection Subaccount, promptly upon receipt thereof, all Interest Collections received by the Borrower. The Borrower shall deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including all Principal Collections received by the Borrower. All amounts deposited from time to time in the Collection Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided. The Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the Collection Account. On or after the date of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided and (ii) the ​ Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC Account.

Establishment of the Collection Account. The Borrower Servicer, for the benefit of the Certificateholders and the other Beneficiaries, shall cause to be established before the Effective Date an account and maintained in the name of the Borrower Trust an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held for the purpose benefit of receiving Collections the Certificateholders and the other Beneficiaries (the "Collection Account"). 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 Collection Account and in all proceeds thereof. The Collection Account shall be under the sole dominion and control of the Trustee for the benefit of the Certificateholders and the other Beneficiaries. If, at any time, the Collection Account ceases to be an Eligible Deposit Account, the Servicer shall, within 10 days after such occurrence, establish a substitute Eligible Deposit Account as the Collection Account, instruct the Trustee to transfer any cash and/or any Eligible Investments to such new Collection Account and, from the Collateral (date any such substitute account is established, such account shall be the “Collection Account”). Neither the Seller nor the Servicer, which nor any Person claiming by, through or under the Seller or Servicer, shall have any right, title or interest in, or any right to withdraw any amount from, the Collection Account. Pursuant to the authority granted to the Servicer in Section 3.1, the Servicer shall have the power, revocable by the Trustee, to instruct the Trustee to make withdrawals and payments from the Collection Account for the purposes of carrying out the Servicer's or Trustee's duties specified in this Agreement. All Eligible Investments shall be maintained with an office or branch held by the Trustee for the benefit of U.S. Bank National Association the Certificateholders and the other Beneficiaries. Funds on deposit in accordance with the Collection Account Control Agreement and which shall at the direction of the Servicer be invested by the Trustee solely in Eligible Investments that shall mature so that such funds shall be subject available at the close of business on or before the Business Day next preceding the following Distribution Date (or on or before 10:00 a.m. on such following Distribution Date in the case of Eligible Investments in respect of which the Trustee is the obligor). Any request by the Servicer to the lien of the Administrative Agent. The account number with respect to invest funds in the Collection Account shall be set forth on Schedule VIII, as updated from in writing and shall certify that the requested investment is an Eligible Investment that matures at or prior to the time to time with the prior written consent required hereby. As of the Administrative Agent. In addition, the Borrower shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower shall from time to time deposit into the Interest Collection Subaccount, promptly upon receipt thereofeach Determination Date, all Interest Collections received by the Borrower. The Borrower shall interest and other investment earnings (net of losses and investment expenses) on funds on deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including all Principal Collections received by the Borrower. All amounts deposited from time to time in the Collection Account pursuant to this Agreement received on such Determination Date shall be held as part of the Collateral and shall be applied credited to the purposes herein provided. The Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the Collection Account. On or after Schedule 2, which is hereby incorporated into and made part of this Agreement, identifies the date Collection Account by setting forth the account number of such account, the account designation of such account and the name of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Eligible Institution with which such account has been established. If a substitute Collection Account is established pursuant to this Agreement Section 4.2, the Servicer shall be held as part of the Collateral and shall be applied provide to the purposes herein provided and (ii) Trustee an amended Schedule 2, setting forth the Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC relevant information for such substitute Collection Account.

Establishment of the Collection Account. The Borrower or the Servicer on its behalf established before the Effective Date an account in the name of the Borrower for the purpose of receiving Collections from the Collateral (the “Collection Account”), which shall be maintained with an office or branch of U.S. Bank National Association in accordance with the Account Control Agreement and which shall be subject to the lien of the Administrative Agent. The account number with respect to the Collection Account shall be set forth on Schedule VIIIXIV, as updated from time to time with the prior written consent of the Administrative Agent. In addition, the Borrower or the Servicer on its behalf shall establish two segregated subaccounts within the Collection Account, one of which will be designated the “Interest Collection Subaccount” and one of which will be designated the “Principal Collection Subaccount”. The Borrower Servicer shall from time to time deposit into the Interest Collection Subaccount, promptly immediately upon receipt thereof, all Interest Collections received by the BorrowerServicer. The Borrower Servicer shall deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including all Principal Collections received by the BorrowerServicer. All amounts deposited from time to time in the Collection Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided. The Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the Collection Account. On or after the date of the initial Advance hereunder, (i) all amounts deposited from time to time in the CIBC Account pursuant to this Agreement shall be held as part of the Collateral and shall be applied to the purposes herein provided and (ii) the Administrative Agent shall at all times have “control” within the meaning of the applicable UCC over the CIBC Account.