Establishment of Trust Accounts. (i) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (x) for the benefit of the Series 1999-1 Certificateholders and (y) for the benefit, subject to the prior and senior interest of the Series 1999-1 Certificateholders, of the holder of the Transferor Certificate, (A) a subaccount of the Collection Account (the "Series 1999-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 1999-1; (B) two subaccounts of the Series 1999-1 Collection Subaccount: (1) the Series 1999-1 Principal Collection Sub-subaccount, and (2) the Series 1999-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999-1 Principal Collection Sub-subaccount" and the "Series 1999-1 Non- -------------------------------------------------- ----------------- Principal Collection Sub-subaccount"); (C) a subaccount of the Series 1999-1 ----------------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as the "Trust ----- Accounts". Each Trust Account shall bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and for each such Person, to the extent) set forth in clauses (x) and (y) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- --- (ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds on deposit in a Trust ----------- --- ------------------ Account shall, at the direction of the Servicer, be invested together with funds held in other Trust Accounts. After giving effect to any distribution to the Transferor pursuant to Section 4.04(c), amounts on deposit and available for --------------- investment in the Trust Accounts shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available on or prior to the Business Day immediately preceding the related Payment Date. If the Trustee does not receive written direction from the Servicer, any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible Investments. Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------ (i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Safeguard Scientifics Inc Et Al), Pooling and Servicing Agreement (Compucom Systems Inc)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, benefit (subject to the prior and senior interest of the Series 1999-1 Certificateholders, Purchasers) of the holder of the Transferor CertificateSeries 1997-A Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 19991997-1 A Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19991997-1A; (B) two subaccounts of the Series 19991997-1 A Collection Subaccount:
: (1) the Series 19991997-1 A Principal Collection Sub-subaccount, Sub- subaccount and (2) the Series 19991997-1 A Non-Principal Collection Sub-subaccount (respectively, the "Series 19991997-1 A Principal Collection Sub-subaccount" and the "Series 19991997-1 Non- -------------------------------------------------- ----------------- A Non-Principal Collection Sub-subaccount"); , and (C) a subaccount of the Series 19991997-1 ----------------------------------- A Non-Principal Collection Sub-subaccount (the "Series 19991997-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 A Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts ; all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.02(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 2, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi) and (yii) above. ----------- ---In any case that the Company has not provided applicable written direction as to Eligible Investments to the Trustee, the Trustee shall invest in demand deposits or money market funds that constitute Eligible Investments.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (Purchasers and, for each such Person, subject to the extent) set forth in clauses (x) and (y) prior interest of Section 4.02(d)(i) above. Funds the Purchasers, of the holder of the Series 1997-A Subordinated Interest; provided, however, that funds on deposit in a Trust ----------- --- ------------------ Account that is a Sub-subaccount of the Series 1997-A Collection Subaccount shall, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.03(b)(i), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1997-A Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1997-A Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1997-A Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1997-A Non-Principal Collection Sub-subaccount and the Series 1997- A Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the subsequent Distribution Date. As of the Business Day immediately preceding such subsequent Distribution Date, all interest and other investment earnings (net of losses and investment Series 1997-A Supplement expenses) on funds deposited in the investments described Series 1997-A Accrued Interest Sub-subaccount shall be deposited in subclause the Series 1997-A Non-Principal Collection Sub-subaccount. All interest and investment earnings (ivnet of losses and investment expenses) of on funds deposited in the definition of Eligible InvestmentsSeries 1997-A Principal Collection Sub-subaccount shall be deposited in the Series 1997-A Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Pooling Agreement (American Axle & Manufacturing Holdings Inc)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 CertificateholdersPurchasers, of the holder owner of the Transferor CertificateSeries 1998-1 Subordinated Interest, (A) a subaccount of the U.S. Dollar Collection Account (the "Series 19991998-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19991998-1; (B) two subaccounts of the Series 19991998-1 Collection Subaccount:
: (1) the Series 19991998-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19991998-1 Principal Collection Sub-subaccount" and the "Series 19991998-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); (C) a subaccount of the Canada/Canadian Dollar Collection Account (the "Series 19991998-1 ----------------------------------- Canada/Canadian Dollar Collection Subaccount") and a subaccount of the Canada/U.S. Dollar Collection Account (the "Series 1998-1 Canada/U.S. Dollar Collection Subaccount") and (D) a subaccount of the Series 1998-1 Non-Principal Collection Sub-subaccount (the "Series 19991998-1 Principal Collection ---------------------------------- Subordinated Accrued Interest Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 2, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi) and (yii) above. ----------- ---.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (Purchasers and, for each such Person, subject to the extent) set forth in clauses (x) and (y) prior interest of Section 4.02(d)(i) above. Funds the Purchasers, the owner of the Series 1998-1 Subordinated Interest; provided, however, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a Sub-subaccount of a Collection Account may, at the direction of the ServicerCompany, be invested together with funds held in other Sub-subaccounts of the Collection Account. In the absence of written direction from the Company all funds held in any Trust AccountsAccount will remain uninvested. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-1 Principal Collection Sub-subaccount, the Series 1998-1 Canada/U.S. Dollar Collection Subaccount and the Series 1998-1 Canada/Canadian Dollar Collection Subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If Amounts on deposit and available for investment in the Series 1998-1 Non-Principal Collection Sub-subaccount and the Series 1998-1 Accrued Interest Sub-subaccount shall be invested by the Trustee does not receive at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-1 Accrued Interest Sub-subaccount shall be deposited in the Series 1998-1 Non-Principal Collection Sub-subaccount and (y) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-1 Principal Collection Sub-subaccount, the Series 1998-1 Canada/U.S. Dollar Collection Subaccount and the Series 1998-1 Canada/Canadian Dollar Collection Subaccount shall be deposited in the Series 1998-1 Non-Principal Collection Sub-subaccount. In the absence of written direction from the Servicer, Company all funds held in any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible InvestmentsTrust Account will remain uninvested.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders and Class A Certificateholders, (yii) for the benefit, subject to the prior and senior interest of the Series 1999-1 Class A Certificateholders, of the holder Class B Certificateholders and (iii) in the case of clauses (A), (B) and (C) below, for the benefit, subject to the prior and senior interest of the Transferor CertificateTerm Certificateholders, of the owner of the Series 1996-1 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 1996-1 Collection ------------------------ SubaccountCOLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19991996-1; (B) two subaccounts of the Series 19991996-1 Collection Subaccount:
(1) the Series 19991996-1 Principal Collection Sub-subaccount, Sub- subaccount and (2) the Series 19991996-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 1996-1 Principal Collection SubPRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 1996-1 Non- -------------------------------------------------- ----------------- Principal Collection SubNON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); , (C) a subaccount of the Series 19991996-1 ----------------------------------- Principal Collection Sub-subaccount (the "Series 1999SERIES 1996-1 Principal Collection ---------------------------------- Subordinated SubCOLLECTION SUBORDINATED SUB-subaccountSUBACCOUNT"); , and (D) a subaccount of the Series 19991996-1 Non- --------------------------- Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 1996-1 Accrued Interest Sub- ---------------------------------- subaccountACCRUED INTEREST SUB-SUBACCOUNT"). The subaccounts and sub-subaccounts ; all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 1, collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi), (ii) and (yiii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi), (ii) and (yiii) above. ----------- ---.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xA), (B), (C) and (yD) of Section 4.02(d)(isubsection 3A.2(a) above. Funds and, subject to the prior interest of such Persons, the owner of the Series 1996-1 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a Sub-subaccount of a Collection Account may, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1996-1 Principal Collection Sub-subaccount and the Series 1996-1 Collection Subordinated Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1996-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1996-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1996-1 Non-Principal Collection Sub-subaccount and the Series 1996-1 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the investments described Series 1996-1 Accrued Interest Sub-subaccount shall be deposited in subclause the Series 1996-1 Non-Principal Collection Sub-subaccount and (ivy) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the definition of Eligible InvestmentsSeries 1996-1 Principal Collection Sub-subaccount and the Series 1996-1 Collection Subordinated Sub-subaccount shall be deposited in the Series 1996-1 Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 CertificateholdersPurchasers, of the holder owner of the Transferor CertificateSeries 1998-1 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 1998-1 Collection ------------------------ SubaccountCOLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19991998-1; (B) two subaccounts of the Series 19991998-1 Collection Subaccount:
: (1) the Series 19991998-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 1998-1 Principal Collection SubPRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 1998-1 Non- -------------------------------------------------- ----------------- Principal Collection SubNON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); ) and (C) a subaccount of the Series 19991998-1 ----------------------------------- Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 1998-1 Principal Collection ---------------------------------- Subordinated SubACCRUED INTEREST SUB-subaccountSUBACCOUNT"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as subsection 3A.2(a), collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---
(ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xi) and (y) of Section 4.02(d)(iii) above. Funds .
(b) All Eligible Investments in the Trust Accounts shall be delivered to the Trustee in accordance with the definition of "Delivery" and shall be held by the Trustee or its nominee (including the Securities Intermediary) for the exclusive benefit of the Purchasers and, subject to the prior interest of the Purchasers, the owner of the Series 1998-1 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a sub-subaccount of a Collection Account may, at the direction of the Servicer, be invested together with funds held in other Trust Accountssub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. Amounts on deposit and available for investment in the Series 1998-1 Non-Principal Collection Sub-subaccount and the Series 1998-1 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-1 Accrued Interest Sub-subaccount shall be deposited in the Series 1998-1 Non-Principal Collection Sub-subaccount and (y) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-1 Principal Collection Sub-subaccount shall be deposited in the Series 1998-1 Non-Principal Collection Sub-subaccount. If the Servicer fails to give the Trustee does not receive written direction from the Servicer, any such investment instructions with respect to amounts on deposit in any Series 1998-1 Collection Subaccount or any subaccount thereof, such amounts shall remain uninvested.
(c) Any securities intermediary maintaining a securities account for the Trustee for the benefit of the Purchasers, and The Chase Manhattan Bank as initial Securities Intermediary, hereby represents that it is as of the date hereof and shall be invested in for so long as it is the investments described in subclause (iv) of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
Securities Intermediary hereunder a bank or broker-dealer that (i) The Servicer will allocate, pay or deposit all Collections in the ordinary course of its business maintains securities accounts for others and is acting in that capacity hereunder and (ii) maintains a Participant's Securities Account (as defined in the United States Regulations) with respect to the Receivables for each Business Day as described in this Article -------a Federal
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 VFC Certificateholders and (y) for the benefit, subject to the prior and senior interest of the Series 1999-1 VFC Certificateholders, of the holder of the Transferor Subordinated Certificate, (A) a subaccount of the Collection Account (the "Series 19991996-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19991996-1, 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; (Bii) 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 19991996-1 Collection Subaccount:
(1) : the Series 19991996-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991996-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19991996-1 Principal Collection Sub-subaccount" and the "Series 19991996-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); (C) a subaccount of the Series 1999-1 ----------------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as the "Trust ----- Accounts". Each Trust Account shall bear , each bearing a designation clearly indicating that the -------- funds deposited therein are held for the benefit of the Persons (VFC Certificateholders and for each such Personthe benefit, subject to the extent) set forth in clauses (x) prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; and (yiii) above. The ----------- --- Trusteefor the benefit of the VFC Certificateholders, on behalf a subaccount of the Series 19991996-1 CertificateholdersNon-Principal Collection Sub-subaccount (the "Series 1996-1 Accrued Interest Sub-subaccount"; all accounts established pursuant to this subsection 3B.2(a) and listed on Schedule 2, collectively, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person VFC Certificateholders and to the extent) set forth in clauses (x) and (y) above. ----------- ---extent applicable, subject to the prior interest of the VFC Certificateholders, to the holder of the Subordinated Certificate.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, Trustee for the exclusive benefit of the Persons (VFC Certificateholders and, for each such Person, subject to the extent) set forth in clauses (x) and (y) prior interest of Section 4.02(d)(i) above. Funds the VFC Certificateholders, of the holder of the Subordinated Certificate; provided, however, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a Sub-subaccount of the Collection Account may, at the direction of the Master Servicer, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3B.3(c), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1996-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Revolving Period, on or prior to the next Business Day immediately preceding and (ii) in the case of any such investment made during the Amortization Period, on or prior to the subsequent Determination Date. Amounts on deposit and available for investment in the Series 1996-1 Non-Principal Collection Sub-subaccount and the Series 1996-1 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the subsequent Determination Date. As of the Determination Date, all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the Series 1996-1 Accrued Interest Sub-subaccount shall be deposited in the Series 1996-1 Non-Principal Collection Sub-subaccount. All interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 1996-1 Principal Collection Sub-subaccount shall be deposited in the Series 1996-1 Non-Principal Collection Sub-subaccount. The Trustee shall not in any way be held liable by reason of any insufficiency in any Trust Account for Series 1996-1 held by the Trustee resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or except to the extent such insufficiency occurred as a result of the Trustee's gross negligence or willful misconduct).
(a) The portion of Aggregate Daily Collections allocated to the VFC Certificateholders pursuant to Article III of the Agreement shall be allocated and distributed as set forth in this Article III.
(i) On each Business Day, an amount equal to the Accrued Expense Amount for such day shall be transferred from the Series 1996-1 Collection Subaccount to the Series 1996-1 Non-Principal Collection Sub-subaccount.
(ii) If, on any Business Day during the Revolving Period, the Enhancement Provider has provided the Trustee with written notice that the Enhancement Provider has not been reimbursed pursuant to the Insurance Agreement for any interest payments made under the Principal/Interest Surety Bond, an amount equal to the lesser of (A) the remaining amount on deposit in the Series 1996-1 Collection Subaccount on such day and (B) the amount of such reimbursement then due to the Enhancement Provider for interest payments made under the Principal/Interest Surety Bond plus accrued and unpaid interest thereon at the rate stated in respect thereof in the Insurance Agreement shall be transferred from the Series 1996-1 Collection Subaccount and paid to the Enhancement Provider.
(iii) Following the transfers pursuant to clauses (i) and (ii) above, any remaining funds on deposit in the Series 1996-1 Collection Subaccount shall be transferred to the Series 1996-1 Principal Collection Sub-subaccount.
(i) On each Business Day during the Revolving Period (including Distribution Dates), amounts on deposit in the Series 1996-1 Principal Collection Sub-subaccount shall be distributed by the Trustee to the Company (but only to the extent that the Trustee has received a Daily Report which reflects the receipt of the Collections on deposit therein); provided that such distribution shall be made only to the extent that, after giving effect to such distribution, the Target Receivables Amount would not exceed the Allocated Receivables Amount as indicated in the Daily Report; provided further that if the Company (or the Master Servicer, on behalf of the Company) shall have given the Trustee irrevocable written notice in accordance with subsection 2.6(a) the Company or the Master Servicer may instruct the Trustee in writing (specifying the related Payment Date. If the Trustee does not receive written direction from the Servicer, any amount) to withdraw all or a portion of such amounts on deposit in the Series 1996-1 Principal Collection Sub-subaccount and apply such withdrawn amounts (together with, to the extent that the Company so directs the Trustee, any amounts which the Company is otherwise entitled to receive as a result of its ownership of Investor Certificates issued pursuant to the Series 1994-1 Supplement) toward the reduction of the Invested Amount and the Subordinated Certificate Amount in accordance with Section 2.6; and provided further that such distribution shall not, in any event, be made if a Cure Period Trigger Date has occurred and is continuing (and the breach or violation giving rise to such Cure Period Trigger Date has not been cured or waived as of such date). Amounts distributed to the Company hereunder shall be deemed to be paid first from Collections received directly by any Servicing Party and second from Collections received in the Lockboxes.
(i) On each Business Day during an Amortization Period (including Distribution Dates), funds deposited in the Series 1996-1 Principal Collection Sub-subaccount shall be invested in Eligible Investments that mature on or prior to the investments described next Determination Date. No amounts on deposit in subclause (iv) of the definition of Eligible InvestmentsSeries 1996-1 Principal Collection Sub-subaccount shall be distributed by the Trustee to the Company during an Amortization Period.
Section 4.03 (a)(id) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for On each Business Day as described in an amount equal to the Daily Interest Deposit for such day shall be transferred from the Series 1996-1 Non-Principal Collection Sub-subaccount to the Series 1996-1 Accrued Interest Sub-subaccount.
(e) The allocations to be made pursuant to this Article -------Section 3B.3 are subject to the provisions of Sections 2.6, 7.2 and 9.1 of the Agreement.
Appears in 1 contract
Samples: Supplement (Specialty Foods Corp)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 Certificateholders38 Purchasers, of the holder owner of the Transferor CertificateSeries 1998-1 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 1998-1 Collection ------------------------ SubaccountCOLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19991998-1; (B) two subaccounts of the Series 19991998-1 Collection Subaccount:
: (1) the Series 19991998-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 1998-1 Principal Collection SubPRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 1998-1 Non- -------------------------------------------------- ----------------- Principal Collection SubNON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); ) and (C) a subaccount of the Series 19991998-1 ----------------------------------- Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 1998-1 Principal Collection ---------------------------------- Subordinated SubACCRUED INTEREST SUB-subaccountSUBACCOUNT"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 3A.2(a), collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---
(ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xi) and (y) of Section 4.02(d)(iii) above. Funds .
(b) All Eligible Investments in the Trust Accounts shall be delivered to the Trustee in accordance with the definition of "Delivery" and shall be held by the Trustee or its nominee (including the Securities Intermediary) for the exclusive benefit of the Purchasers and, subject to the prior interest of the Purchasers, the owner of the Series 1998-1 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a sub-subaccount of a Collection Account may, at the direction of the Servicer, be invested together with funds held in other Trust Accountssub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(c3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1998-1 Non-Principal Collection Sub-subaccount and the Series 1998-1 Accrued Interest Sub-subaccount shall be invested in by the investments described in subclause (iv) Trustee at the written direction of the definition Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocatethe holder thereof, pay on or deposit all Collections with respect prior to the Receivables for each Business Day as described in this Article -------immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date,
Appears in 1 contract
Samples: Second Amended and Restated Series 1998 1 Supplement (United Stationers Supply Co)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders and Class A Certificateholders, (yii) for the benefit, subject to the prior and senior interest of the Series 1999-1 Class A Certificateholders, of the holder Class B Certificateholders and (iii) in the case of clauses (A), (B) and (C) below, for the benefit, subject to the prior and senior interest of the Transferor CertificateTerm Certificateholders, of the owner of the Series 1998-1 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 1998-1 Collection ------------------------ SubaccountCOLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19991998-1; (B) two subaccounts of the Series 19991998-1 Collection Subaccount:
: (1) the Series 19991998-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 1998-1 Principal Collection SubPRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 1998-1 Non- -------------------------------------------------- ----------------- Principal Collection SubNON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); and (C) a subaccount of the Series 19991998-1 ----------------------------------- Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 1998-1 Principal Collection ---------------------------------- Subordinated SubACCRUED INTEREST SUB-subaccountSUBACCOUNT"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 1, collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi), (ii) and (yiii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi), (ii) and (yiii) above. ----------- ---.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xA), (B) and (yC) of Section 4.02(d)(isubsection 3A.2(a) above. Funds and, subject to the prior interest of such Persons, the owner of the Series 1998-1 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a Sub-subaccount of a Collection Account may, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1998-1 Non-Principal Collection Sub-subaccount and the Series 1998-1 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the investments described Series 1998-1 Accrued Interest Sub-subaccount shall be deposited in subclause the Series 1998-1 Non-Principal Collection Sub-subaccount and (ivy) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the definition of Eligible InvestmentsSeries 1998-1 Principal Collection Sub-subaccount shall be deposited in the Series 1998-1 Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders and Class A Certificateholders, (yii) for the benefit, subject to the prior and senior interest of the Series 1999-1 Class A Certificateholders, of the Class B Certificateholders, (iii) for the benefit, subject to the prior and senior interests of the Class A Certificateholders and the Class B Certificateholders, of the Class C Certificateholders and (iv) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interests of the Term Certificateholders, of the holder of the Transferor CertificateSeries 1997-1 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 19991997-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19991997-1; (B) two subaccounts of the Series 19991997-1 Collection Subaccount:Series 1997-1 Supplement 42
(1) the Series 19991997-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991997-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19991997-1 Principal Collection Sub-subaccount" and the "Series 19991997-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); and (C) a subaccount of the Series 19991997-1 ----------------------------------- Non-Principal Collection Sub-subaccount (the "Series 19991997-1 Principal Collection ---------------------------------- Subordinated Accrued Interest Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.02(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 1, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi), (ii), (iii) and (yiv) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (xi), (ii), (iii) and (yiv) above. ----------- ---In any case where the Company has not provided applicable written direction as to Eligible Investments to the Trustee, the Trustee shall invest in demand deposits or money market funds that constitute Eligible Investments.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xi), (ii), (iii) and (yiv) of Section 4.02(d)(isubsection (a) above. Funds on deposit in a Trust ----------- --- ------------------ Account that is a Sub-subaccount of the Collection Account shall, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.03(c), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1997-1 Principal Collection Sub-subaccount shall be invested by the Trustee, at the written direction of the Company, in Eligible Investments that mature, or that are payable or Series 1997-1 Supplement 43 redeemable upon demand of the holder thereof, (i) in the case of any such investment made during the Series 1997-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1997-1 Amortization Period, on or prior to the Business Day immediately preceding the next Distribution Date. Amounts on deposit and available for investment in the Series 1997-1 Non-Principal Collection Sub-subaccount and the Series 1995-1 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available on or prior to the Business Day immediately preceding the related Payment subsequent Distribution Date. If As of the Trustee does not receive written direction from Business Day immediately preceding the ServicerSettlement Report Date, any such amounts all interest and other investment earnings (net of losses and investment expenses) on deposit funds deposited in the Series 1997-1 Accrued Interest Sub-subaccount shall be invested deposited in the investments described Series 1997-1 Non-Principal Collection Sub-subaccount and all interest and investment earnings (net of losses and investment expenses) on funds deposited in subclause (iv) of the definition of Eligible InvestmentsSeries 1997-1 Principal Collection Sub-subaccount shall be deposited in the Series 1997-1 Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Pooling Agreement (Lifestyle Furnishings International LTD)
Establishment of Trust Accounts. (ia) The Trustee shall cause the following accounts (together with the accounts listed on Schedule 1, the "Trust Accounts") to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, :
(x) for the benefit of the Series 1999-1 Certificateholders and (y) for the benefit, subject to the prior and senior interest of the Series 1999-1 Certificateholders, of the holder of the Transferor Certificate, (Ai) a subaccount of the Collection Account (the "Series 19992001-1 VFC Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 1999-1; and
(Bii) two subaccounts of the Series 19992001-1 VFC Collection Subaccount:
: (1x) the Series 19992001-1 Principal Collection Sub-subaccount, and (2) the Series 1999-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999-1 Principal Collection Sub-subaccount" and the "Series 1999-1 Non- -------------------------------------------------- ----------------- Principal Collection Sub-subaccount"); (C) a subaccount of the Series 1999-1 ----------------------------------- VFC Principal Collection Sub-subaccount (the "Series 19992001-1 VFC Principal Collection ---------------------------------- Subordinated Sub-Sub- subaccount"); , and (Dy) a subaccount of the Series 19992001-1 Non- --------------------------- VFC Non-Principal Collection Sub-subaccount (the "Series 19992001- VFC Non-1 Accrued Interest Sub- ---------------------------------- Principal Collection Sub-subaccount"). The subaccounts and sub-subaccounts established pursuant to this ---------- Section 4.02(d)(iEach account specified in clauses (i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall (ii) above will be referred to collectively as the "Trust ----- Accounts". Each Trust Account shall held (and will bear a designation clearly indicating that the -------- funds deposited therein are held held) (A) for the benefit of the Persons VFC Certificateholders and (and B) for each such Personthe benefit, subject to the extent) set forth in clauses (x) and (y) aboveprior interests of the VFC Certificateholders, of the holder of the Subordinated Company Certificate. The ----------- --- Trustee, Trustee on behalf of the Series 19992001-1 Certificateholders, VFC Certificateholders shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of (i) the Persons (andVFC Certificateholders, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---
(ii) All Eligible Investments in subject to the Trust Accounts shall be held by the Trustee, on behalf prior interest of the Series 1999-1 VFC Certificateholders, for the exclusive benefit holder of the Persons Subordinated Company Certificate.
(and, for each such Person, to the extentb) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds on deposit in a Trust ----------- --- ------------------ Account shall, at the direction of the Servicer, be invested together with funds held in other Trust Accounts. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(c3.3(c), amounts on deposit and available for --------------- investment in the Trust Accounts Series 2001-VFC Principal Collection Sub- subaccount shall be invested by the Trustee at the written direction of the Master Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 2001-VFC Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 2001-VFC Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Funding Change Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 2001-VFC Non-Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Master Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the subsequent Distribution Date. All interest and investment earnings (net of losses and investment expenses) on funds deposited in the investments described Series 2001-VFC Principal Collection Sub- subaccount shall be deposited in subclause (iv) the Series 2001-VFC Non-Principal Collection Sub-subaccount. All Eligible Investments in the Trust Accounts shall be held by the Trustee for the exclusive benefit of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect the VFC Certificateholders and (ii) subject to the Receivables for each Business Day as described in this Article -------prior interest of the VFC Certificateholders, the Certificateholder of the Subordinated Company Certificate.
Appears in 1 contract
Samples: Series Supplement Agreement (General Cable Corp /De/)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, :
(xi) (A) for the benefit of the Series 1999-1 Certificateholders and Class A Certificateholders, (yB) for the benefit, subject to the prior and senior interest of the Series 1999-1 Class A Certificateholders, of the Class B Certificateholders, and (C) for the benefit, subject to the prior interests of the Term Certificateholders, of the holder of the Transferor Series 2001-1 Subordinated Certificate, (A) a subaccount of the Collection Account (the "Series 19992001-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19992001-1; , bearing a designation clearly indicating that the funds deposited therein are held (A) for the benefit of the Class A Certificateholders, (B) two for the benefit, subject to the prior interest of the Class A Certificateholders, of the Class B Certificateholders, and (C) for the benefit, subject to the prior interests of the Term Certificateholders, of the holder of the Series 2001-1 Subordinated Certificate;
(ii) (A) for the benefit of the Class A Certificateholders, (B) for the benefit, subject to the prior interest of the Class A Certificateholders, of the Class B Certificateholders, (C) for the benefit, subject to prior interests of the Term Certificateholders, of the holder of the Series 2001-1 Subordinated Certificate, three subaccounts of the Series 19992001-1 Collection Subaccount:
: (1x) the Series 19992001-1 Principal Collection Sub-subaccount, and (2y) the Series 19992001-1 Accrued Interest Sub- subaccount; and (z) the Series 2001-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19992001-1 Principal Collection Sub-subaccount", the "Series 2001-1 Accrued Interest Sub- subaccount" and the "Series 19992001-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); , each bearing a designation clearly indicating that the funds deposited therein are held (A) for the benefit of the Class A Certificateholders, (B) for the benefit, subject to the prior interest of the Class A Certificateholders, of the Class B Certificateholders, and (C) a subaccount for the benefit, subject to the prior interest of the Term Certificateholders, of the holder of the Series 19992001-1 ----------------------------------- Principal Collection Sub-subaccount Subordinated Certificate; and
(the "Series 1999-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (Diii) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts All accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be 1, are collectively referred to collectively as as, the "Trust ----- Accounts". Each Trust Account shall bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and for each such Person, to the extent) set forth in clauses (x) and (y) above). The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of (A) the Persons Class A Certificateholders, (and, for each such Person B) subject to the extent) set forth in clauses (x) prior interest of the Class A Certificateholders, the Class B Certificateholders, and (yC) above. ----------- ---
(ii) All Eligible Investments in subject to the Trust Accounts shall be held by prior interest of the TrusteeTerm Certificateholders, on behalf the holder of the Series 19992001-1 Certificateholders, for the exclusive benefit of the Persons Subordinated Certificate.
(and, for each such Person, to the extentb) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds on deposit in a Trust ----------- --- ------------------ Account shall, at the direction of the Servicer, be invested together with funds held in other Trust Accounts. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 2001-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Master Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 2001-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 2001-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment Date. If the Trustee does not receive written direction from the Servicer, any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------next
Appears in 1 contract
Samples: Master Pooling and Servicing Agreement (General Cable Corp /De/)
Establishment of Trust Accounts. (i) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (x) for the benefit of the Series 1999-1 Certificateholders and (y) for the benefit, subject to the prior and senior interest of the Series 1999-1 Certificateholders, of the holder of the Transferor Certificate, (A) a subaccount of the Collection Account (the "Series 1999-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect ---------- to Series 1999-1; (B) two subaccounts of the Series 1999-1 Collection Subaccount:
(1) the Series 1999-1 Principal Collection Sub-subaccount, and (2) the Series 1999-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999-1 Principal Collection Sub-subaccount" and the "Series 1999-1 Non- -------------------------------------------------- ----------------- ------------------------------------------------- ------------------ Principal Collection Sub-subaccount"); (C) a subaccount of the Series 1999-1 ----------------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- ----------------------------------- subaccount"). The subaccounts and sub-subaccounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as the "Trust ----- Accounts". Each Trust Account shall bear a designation indicating that the funds -------- funds deposited therein are held for the benefit of the Persons (and for each such Person, to the extent) set forth in clauses (x) and (y) above. The ----------- --- Trustee, on ----------- --- behalf of the Series 1999-1 Certificateholders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---
(ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds on deposit in a Trust ----------- --- ------------------ Account shall, at the direction of the Servicer, be invested together with funds held in other Trust Accounts. After giving effect to any distribution to the Transferor pursuant to Section 4.04(c), amounts on deposit and available for --------------- investment in the Trust Accounts shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available on or prior to the Business Day immediately preceding the related Payment Date. If the Trustee does not receive written direction from the Servicer, any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Compucom Systems Inc)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Class A Certificateholders and, (ii) in the case of clauses (A) and (yB) below, for the benefit, subject to the prior and senior interest interests of the Series 1999-1 Term Certificateholders, of the holder of the Transferor CertificateSeries 1994-2 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 19991994-1 2 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19991994-12; (B) two subaccounts of the Series 19991994-1 2 Collection Subaccount:
: (1) the Series 19991994-1 2 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991994-1 2 Non-Principal Collection Sub-subaccount (respectively, the "Series 19991994-1 2 Principal Collection Sub-subaccount" and the "Series 19991994-1 Non- -------------------------------------------------- ----------------- 2 Non-Principal Collection Sub-subaccount"); and (C) a subaccount of the Series 19991994-1 ----------------------------------- 2 Non-Principal Collection Sub-subaccount (the "Series 19991994-1 Principal Collection ---------------------------------- Subordinated 2 Accrued Interest Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3.01(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 1, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (xi) and (yii) above. ----------- ---In any case where the Company has not provided applicable written direction as to Eligible Investments to the Trustee, the Trustee shall invest in demand deposits or money market funds that constitute Eligible Investments.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xi) and (yii) of Section 4.02(d)(isubsection (a) above. Funds on deposit in a Trust ----------- --- ------------------ Account that is a Sub-subaccount of the Collection Account shall, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3.02(c), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1994-2 Principal Collection Sub-subaccount shall be invested by the Trustee Trustee, at the written direction of the Servicer Company, in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1994-2 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1994-2 Amortization Period, on or prior to the Business Day immediately preceding the related next Payment Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1994-2 Non-Principal Collection Sub-subaccount and the Series 1994-2 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the subsequent Payment Date. As of the Business Day immediately preceding the Settlement Report Date, all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the investments described Series 1994-2 Accrued Interest Sub-subaccount shall be deposited in subclause the Series 1994-2 Non-Principal Collection Sub-subaccount and all interest and investment earnings (ivnet of losses and investment expenses) of on funds deposited in the definition of Eligible InvestmentsSeries 1994-2 Principal Collection Sub-subaccount shall be deposited in the Series 1994-2 Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Amended and Restated Series Supplement (Ingram Micro Inc)
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 CertificateholdersPurchasers, of the holder owner of the Transferor CertificateSeries 1998-2 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 1998-1 Collection ------------------------ Subaccount2 COLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19991998-12; (B) two subaccounts of the Series 19991998-1 2 Collection Subaccount:
: (1) the Series 19991998-1 2 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 2 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 1998-1 Principal Collection Sub2 PRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 1998-1 Non- -------------------------------------------------- ----------------- Principal Collection Sub2 NON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); ) and (C) a subaccount of the Series 19991998-1 ----------------------------------- 2 Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 1998-1 Principal Collection ---------------------------------- Subordinated Sub2 ACCRUED INTEREST SUB-subaccountSUBACCOUNT"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 2, collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi) and (yii) above. ----------- ---.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (Purchasers and, for each such Person, subject to the extent) set forth in clauses (x) and (y) prior interest of Section 4.02(d)(i) above. Funds the Purchasers, the owner of the Series 1998-2 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a Sub-subaccount of a Collection Account may, at the direction of the ServicerCompany, be invested together with funds held in other Sub-subaccounts of the Collection Account. In the absence of written direction from the Company all funds held in any Trust AccountsAccount will remain uninvested. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-2 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-2 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-2 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If Amounts on deposit and available for investment in the Series 1998-2 Non-Principal Collection Sub-subaccount and the Series 1998-2 Accrued Interest Sub-subaccount shall be invested by the Trustee does not receive at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-2 Accrued Interest Sub-subaccount shall be deposited in the Series 1998-2 Non-Principal Collection Sub-subaccount and (y) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-2 Principal Collection Sub-subaccount shall be deposited in the Series 1998-2 Non-Principal Collection Sub-subaccount. In the absence of written direction from the Servicer, Company all funds held in any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible InvestmentsTrust Account will remain uninvested.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee ------------------------------- shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Agent and the Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 CertificateholdersAgent and the Purchasers, of the holder of the Transferor Series 1998-1 Subordinated Certificate, (A) a subaccount of the Collection Account (the "Series 19991998-1 Collection ------------------------ Subaccount"), which subaccount is the ----------------------------------- Series Collection Subaccount with respect to Series 19991998-1; (B) two subaccounts of the Series 19991998-1 Collection Subaccount:
: (1) the Series 19991998-1 Principal Collection Sub-subaccount, subaccount and (2) the Series 19991998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19991998-1 Principal Collection Sub-Sub- --------------------------------------- subaccount" and the "Series 19991998-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); , ---------- ----------------------------------------------------- and (C) a subaccount of the Series 19991998-1 ----------------------------------- Non-Principal Collection Sub-Sub- subaccount (the "Series 19991998-1 Principal Collection ---------------------------------- Subordinated Accrued Interest Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts --------------------------------------------- established pursuant to this ---------- Section 4.02(d)(isubsection 3C.2(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 1, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation -------------- indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in in, to and under all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts Accounts, and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi) and (yii) above. ----------- ---.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, for the exclusive benefit of the Persons (Agent and the Purchasers, and, for each such Person, subject to the extent) set forth in clauses (x) prior interest of the Agent and (y) the Purchasers, the holder of Section 4.02(d)(i) above. Funds the Series 1998-1 Subordinated Certificate; provided, -------- however, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a sub-subaccount of a ------- Collection Account may, at the direction of the ServicerCompany, be invested together with funds held in other Trust Accountssub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3C.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1998-1 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1998-1 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1998-1 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next subsequent Funding Period Settlement Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1998-1 Non-Principal Collection Sub- subaccount and the Series 1998-1 Accrued Interest Sub-subaccount shall be invested in by the investments described in subclause (iv) Trustee at the written direction of the definition Company in Eligible Investments that mature, or that are payable or redeemable upon demand of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocatethe holder thereof, pay on or deposit all Collections with respect prior to the Receivables for Business Day immediately preceding the next subsequent Distribution Date or Funding Period Settlement Date, whichever is earliest. As of each Business Day as described immediately preceding a Distribution Date or Funding Period Settlement Date, all interest and other investment earnings (net of losses and investment expenses) on funds deposited in this Article -------the Series 1998-1 Accrued Interest Sub-subaccount shall be deposited in the Series 1998-1 Non- Principal Collection Sub-subaccount. All interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 1998-1 Principal Collection Sub-subaccount shall be deposited in the Series 1998-1 Non- Principal Collection Sub-subaccount.
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Committed Purchaser and (yii) in the case of clauses (A) and (B) below, for the benefit, subject to the prior and senior interest of the Series 1999-1 CertificateholdersCommitted Purchaser, of the holder owner of the Transferor CertificateSeries 2000-2 Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999SERIES 2000-1 Collection ------------------------ Subaccount2 COLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 19992000-12; (B) two subaccounts of the Series 19992000-1 2 Collection Subaccount:
: (1) the Series 19992000-1 2 Principal Collection Sub-subaccount, subaccount and (2) the Series 19992000-1 2 Non-Principal Collection Sub-subaccount (respectively, the "Series 1999SERIES 2000-1 Principal Collection Sub2 PRINCIPAL COLLECTION SUB-subaccountSUBACCOUNT" and the "Series 1999SERIES 2000-1 Non- -------------------------------------------------- ----------------- Principal Collection Sub2 NON-subaccountPRINCIPAL COLLECTION SUB-SUBACCOUNT"); ) and (C) a subaccount of the Series 19992000-1 ----------------------------------- 2 Non-Principal Collection Sub-subaccount (the "Series 1999SERIES 2000-1 Principal Collection ---------------------------------- Subordinated Sub2 ACCRUED INTEREST SUB-subaccountSUBACCOUNT"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as subsection 3A.2(a), collectively, the "Trust ----- AccountsTRUST ACCOUNTS". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 Certificateholders, 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 Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---
(ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 1999-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (xi) and (y) of Section 4.02(d)(iii) above. Funds .
(b) All Eligible Investments in the Trust Accounts shall be delivered to the Trustee in accordance with the definition of "Delivery" and shall be held by the Trustee or its nominee (including the Securities Intermediary) for the exclusive benefit of the Committed Purchaser and, subject to the prior interest of the Committed Purchaser, the owner of the Series 2000-2 Subordinated Interest; PROVIDED, HOWEVER, that funds on deposit in a Trust ----------- --- ------------------ Account shallwhich is a sub-subaccount of a Collection Account may, at the direction of the Servicer, be invested together with funds held in other Trust Accountssub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.3(b), amounts on deposit and available for --------------- investment in the Trust Accounts Series 2000-2 Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 2000-2 Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 2000-2 Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. Amounts on deposit and available for investment in the Series 2000-2 Non Principal Collection Sub-subaccount and the Series 2000-2 Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the next Distribution Date. As of the Business Day immediately preceding such next Distribution Date, (x) all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the Series 2000-2 Accrued Interest Sub-subaccount shall be deposited in the Series 2000-2 Non-Principal Collection Sub-subaccount and (y) all interest and investment earnings (net of losses and investment expenses) on funds deposited in the Series 2000-2 Principal Collection Sub-subaccount shall be deposited in the Series 2000-2 Non-Principal Collection Sub-subaccount. If the Servicer fails to give the Trustee does not receive written direction from the Servicer, any such investment instructions with respect to amounts on deposit in any Series 2000-2 Collection Subaccount or any subaccount thereof, such amounts shall remain uninvited.
(c) Any securities intermediary maintaining a securities account for the Trustee for the benefit of the Committed Purchaser, and The Chase Manhattan Bank as initial Securities Intermediary, hereby represents that it is as of the date hereof and shall be invested in for so long as it is the investments described in subclause (iv) of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
Securities Intermediary hereunder a bank or broker-dealer that (i) in the ordinary course of its business maintains securities accounts for others and is acting in that capacity hereunder and (ii) maintains a Participant's Securities Account (as defined in the United States Regulations) with a Federal Reserve Bank. The Servicer will allocateSecurities Intermediary shall agree (and The Chase Manhattan Bank as initial Securities Intermediary hereby agrees) with the parties hereto that (x) the Collection Account (including any sub-accounts thereof) is a securities account to which financial assets may be credited, pay or deposit all Collections (y) the Trustee shall be entitled to exercise rights that comprise such financial assets and to exercise the ordinary rights of an entitlement holder, (z) the "securities intermediary's jurisdiction" as defined in the UCC of the Securities Intermediary with respect to the Receivables for each Business Day Eligible Investments credited to the Collection Account (including any subaccounts thereof) shall be the State of New York. The Securities Intermediary shall represent and covenant (and The Chase Manhattan Bank hereby represents and covenants) that it is not and will not be (as described in long as it is the Securities Intermediary hereunder) a party to any agreement that is inconsistent with the provisions of this Article -------Agreement. The Securities Intermediary shall covenant (and The Chase Manhattan Bank hereby covenants) that it will not take any action inconsistent with the provisions of this Agreement applicable to it. It is the intent of the Trustee, the Servicer and the Company that the Collection Account (including any sub-accounts thereof) shall be a securities account of the Trustee and not an account of the Company or the Servicer. If despite such intent, the Collection Account (including any sub-accounts thereof) is determined to be an account of the Company or the Servicer, then the Securities Intermediary agrees to comply with entitlement orders originated by the Trustee without further consent by the Company or the Servicer.
Appears in 1 contract
Establishment of Trust Accounts. (ia) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (xi) for the benefit of the Series 1999-1 Certificateholders Purchasers and (yii) in the case of clauses (A) and (B) below, for the benefit, benefit (subject to the prior and senior interest of the Series 1999-1 Certificateholders, Purchasers) of the holder of the Transferor CertificateSeries 1999-A Subordinated Interest, (A) a subaccount of the Collection Account (the "Series 1999-1 A Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 1999-1A; (B) two subaccounts of the Series 1999-1 A Collection Subaccount:
: (1) the Series 1999-1 A Principal Collection Sub-subaccount, subaccount and (2) the Series 1999-1 A Non-Principal Collection Sub-subaccount (respectively, the "Series 1999-1 A Principal Collection Sub-subaccount" and the "Series 1999-1 Non- -------------------------------------------------- ----------------- A Non-Principal Collection Sub-subaccount"); , and (C) a subaccount of the Series 1999-1 ----------------------------------- A Non-Principal Collection Sub-subaccount (the "Series 1999-1 Principal Collection ---------------------------------- Subordinated A Accrued Interest Sub-subaccount"); and (D) a subaccount of the Series 1999-1 Non- --------------------------- Principal Collection Sub-subaccount (the "Series 1999-1 Accrued Interest Sub- ---------------------------------- subaccount"). The subaccounts and sub-subaccounts all accounts established pursuant to this ---------- Section 4.02(d)(isubsection 3A.02(a) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 1999-1 shall be referred to collectively as 2, collectively, the "Trust ----- Accounts". Each ), each Trust Account shall to bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and and, for each such Person, to the extent) set forth in clauses (xi) and (yii) above. The ----------- --- Trustee, on behalf of the Series 1999-1 CertificateholdersHolders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person Person, to the extent) set forth in clauses (xi) and (yii) above. ----------- ---In any case that the Company has not provided applicable written direction as to Eligible Investments to the Trustee, the Trustee shall invest in demand deposits or money market funds that constitute Eligible Investments.
(iib) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Holders, for the benefit of the Purchasers and, subject to the prior interest of the Purchasers, of the holder of the Series 1999-1 CertificateholdersA Subordinated Interest; provided, for the exclusive benefit of the Persons (andhowever, for each such Person, to the extent) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds that funds on deposit in a Trust ----------- --- ------------------ Account that is a Sub-subaccount of the Series 1999-A Collection Subaccount shall, at the direction of the ServicerCompany, be invested together with funds held in other Trust AccountsSub-subaccounts of the Collection Account. After giving effect to any distribution to the Transferor Company pursuant to Section 4.04(csubsection 3A.03(b)(i), amounts on deposit and available for --------------- investment in the Trust Accounts Series 1999-A Principal Collection Sub-subaccount shall be invested by the Trustee at the written direction of the Servicer Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available (i) in the case of any such investment made during the Series 1999-A Revolving Period, on or prior to the next Business Day and (ii) in the case of any such investment made during the Series 1999-A Amortization Period, on or prior to the Business Day immediately preceding the related Payment next Distribution Date. If the Trustee does not receive written direction from the Servicer, any such amounts Amounts on deposit and available for investment in the Series 1999-A Non-Principal Collection Sub-subaccount and the Series 1999-A Accrued Interest Sub-subaccount shall be invested by the Trustee at the written direction of the Company in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, on or prior to the Business Day immediately preceding the subsequent Distribution Date. As of the Business Day immediately preceding such subsequent Distribution Date, all interest and other investment earnings (net of losses and investment expenses) on funds deposited in the investments described Series 1999-A Accrued Interest Sub-subaccount shall be deposited in subclause the Series 1999-A Non-Principal Collection Sub-subaccount. All interest and investment earnings (ivnet of losses and investment expenses) of on funds deposited in the definition of Eligible InvestmentsSeries 1999-A Principal Collection Sub-subaccount shall be deposited in the Series 1999-A Non-Principal Collection Sub-subaccount.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Pooling Agreement (American Axle & Manufacturing Inc)
Establishment of Trust Accounts. (i) The Trustee shall cause to ------------------------------- be established and maintained in the name of the Trustee, on behalf of the Trust, (x) for the benefit of the Series 19992000-1 Certificateholders and (y) for the benefit, subject to the prior and senior interest of the Series 19992000-1 Certificateholders, of the holder of the Transferor Certificate, (A) a subaccount of the Collection Account (the "Series 19992000-1 Collection ------------------------ Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19992000-1; (B) two subaccounts of the Series 19992000-1 Collection Subaccount:
(1) the Series 19992000-1 Principal Collection Sub-subaccount, and (2) the Series 19992000-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19992000-1 Principal Collection Sub-subaccount" and the "Series 19992000-1 Non- -------------------------------------------------- ----------------- Non-Principal Collection Sub-subaccount"); (C) a subaccount of the Series 19992000-1 ----------------------------------- Principal Collection Sub-subaccount (the "Series 19992000-1 Principal Collection ---------------------------------- Subordinated Sub-subaccount"); and (D) a subaccount of the Series 19992000-1 Non- --------------------------- Non-Principal Collection Sub-subaccount (the "Series 19992000-1 Accrued Interest Sub- ---------------------------------- Sub-subaccount"). The subaccounts and sub-subaccounts established pursuant to this ---------- Section 4.02(d)(i) and listed on Schedule 2 attached to the Supplement with ------------------ ---------- respect to Series 19992000-1 shall be referred to collectively as the "Trust ----- Accounts". Each Trust Account shall bear a designation indicating that the -------- funds deposited therein are held for the benefit of the Persons (and for each such Person, to the extent) set forth in clauses (x) and (y) above. The ----------- --- Trustee, on behalf of the Series 19992000-1 Certificateholders, shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Trust Accounts and in all proceeds thereof. The Trust Accounts shall be under the sole dominion and control of the Trustee for the exclusive benefit of the Persons (and, for each such Person to the extent) set forth in clauses (x) and (y) above. ----------- ---.
(ii) All Eligible Investments in the Trust Accounts shall be held by the Trustee, on behalf of the Series 19992000-1 Certificateholders, for the exclusive benefit of the Persons (and, for each such Person, to the extent) set forth in clauses (x) and (y) of Section 4.02(d)(i) above. Funds on deposit in a Trust ----------- --- ------------------ Account shall, at the direction of the Servicer, be invested together with funds held in other Trust Accounts. After giving effect to any distribution to the Transferor pursuant to Section 4.04(c), amounts on deposit and available for --------------- investment in the Trust Accounts shall be invested by the Trustee at the written direction of the Servicer in Eligible Investments that mature, or that are payable or redeemable upon demand of the holder thereof, so that funds will be available on or prior to the Business Day immediately preceding the related Payment Date. If the Trustee does not receive written direction from the Servicer, any such amounts on deposit shall be invested in the investments described in subclause (iv) of the definition of Eligible Investments.
Section 4.03 (a)(i) is modified in its entirety to read as follows: ------------------
(i) The Servicer will allocate, pay or deposit all Collections with respect to the Receivables for each Business Day as described in this Article -------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Compucom Systems Inc)
