Establishment of the Note Accounts. (a) (i) The Servicer, for the benefit of the Noteholders, shall establish and maintain with the Indenture Trustee and in the name of the Indenture Trustee, on behalf of the Issuer, an Eligible Deposit Account bearing a designation clearly indicating that such account is the “Collection Account” hereunder and that the funds and other property credited thereto are held for the benefit of the Noteholders (the “Collection Account”).
Appears in 5 contracts
Samples: Indenture (Springleaf Holdings, Inc.), Indenture (Springleaf Finance Corp), Indenture (OneMain Financial Holdings, Inc.)
Establishment of the Note Accounts. (a) (i) The Servicer, for the benefit of the Noteholders, shall establish and maintain with the Indenture Trustee and in the name of the Indenture Trustee, on behalf of the Issuer, an Eligible Deposit Account bearing a designation clearly indicating that such account is the “Collection Account” hereunder and that the funds and other property credited thereto are held for the benefit of the Noteholders (the “Collection Account”). Funds in the Collection Account shall not bear interest, except to the extent invested in Eligible Investments.
Appears in 3 contracts
Samples: Note Purchase Agreement (Conns Inc), Note Purchase Agreement (Conns Inc), Conns Inc