Exchange Note Accounts Clause Samples

Exchange Note Accounts. On or before each Exchange Note Issuance Date, the Closed-End Servicer will establish, in each case in the name of the Closed-End Collateral Agent or such other entity as may be specified in the applicable Servicing Supplement, at a Qualified Institution or Qualified Trust Institution: (i) a segregated trust account to be designated as the “Exchange Note Collection Account” with respect to the related Reference Pool, into which an amount equal to Closed-End Collections with respect to such Reference Pool will be deposited from time to time; and (ii) if so required under the related Exchange Note Supplement, a segregated trust account to be designated as the “Exchange Note Reserve Account” with respect to the related Reference Pool. The accounts established pursuant to the foregoing clauses (i) and (ii) for any Reference Pool are referred to together as the “Exchange Note Accounts.” The right to make withdrawals from and deposits to, and to exercise other control rights with respect to, the Exchange Note Accounts established with respect to any Reference Pool will be governed by the terms of the related Servicing Supplement.