Common use of GRANTOR TRUST DISTRIBUTION ACCOUNT Clause in Contracts

GRANTOR TRUST DISTRIBUTION ACCOUNT. (a) The Grantor Trustee shall establish and maintain in the name of the Grantor Trustee, for the benefit of the Certificateholders, the Grantor Trust Distribution Account as a segregated trust account or accounts. The Grantor Trustee will deposit in the Grantor Trust Distribution Account any amounts paid to the Grantor Trust by the Underlying Trust to or with respect to the Underlying Certificates pursuant to the Underlying Pooling and Servicing Agreement and any amounts paid to the Grantor Trust pursuant to either Swap Agreement. (b) All amounts deposited to the Grantor Trust Distribution Account shall be held by the Grantor Trustee in the name of the Grantor Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. (c) The Grantor Trust Distribution Account shall constitute a trust account of the Trust Fund segregated on the books of the Grantor Trustee and held by the Grantor Trustee in trust in its Corporate Trust Office, and the Grantor Trust Distribution Account and the funds deposited therein shall not be subject to, and shall be protected from, all claims, liens, and encumbrances of any creditors or depositors of the Grantor Trustee (whether made directly, or indirectly through a liquidator or receiver of the Grantor Trustee). The amount at any time credited to the Grantor Trust Distribution Account shall be uninvested.

GRANTOR TRUST DISTRIBUTION ACCOUNT. (a) The Grantor Trustee shall establish and maintain in the name of the Grantor Trustee, for the benefit of the Certificateholders, the Grantor Trust Distribution Account as a segregated trust account or accounts. The Grantor Trustee will deposit in the Grantor Trust Distribution Account any amounts paid to the Grantor Trust by the Underlying Trust to or with respect to the Underlying Certificates pursuant to the Underlying Pooling and Servicing Agreement and any amounts paid to the Grantor Trust pursuant to either the Swap Agreement. (b) All amounts deposited to the Grantor Trust Distribution Account shall be held by the Grantor Trustee in the name of the Grantor Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. (c) The Grantor Trust Distribution Account shall constitute a trust account of the Trust Fund segregated on the books of the Grantor Trustee and held by the Grantor Trustee in trust in its Corporate Trust Office, and the Grantor Trust Distribution Account and the funds deposited therein shall not be subject to, and shall be protected from, all claims, liens, and encumbrances of any creditors or depositors of the Grantor Trustee (whether made directly, or indirectly through a liquidator or receiver of the Grantor Trustee). The amount at any time credited to the Grantor Trust Distribution Account shall be uninvested.

GRANTOR TRUST DISTRIBUTION ACCOUNT. (a) The Grantor Trustee Securities Administrator shall establish and maintain in the name of the Grantor Trustee, for the benefit of the Certificateholders, the Grantor Trust Distribution Account as a segregated trust account or accounts. The Grantor Trustee Securities Administrator will deposit in the Grantor Trust Distribution Account any amounts paid to the Grantor Trust by the Underlying Trust to or received with respect to the Underlying Class I-A Certificates pursuant to the Underlying Pooling and Servicing Agreement and any amounts paid to the Grantor Trust pursuant to either Swap Agreementon each Distribution Date. (b) All amounts deposited to the Grantor Trust Distribution Account shall be held by the Grantor Trustee Securities Administrator in the name of the Grantor Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. (c) The Grantor Trust Distribution Account shall constitute a trust account of the Grantor Trust Fund segregated on the books of the Grantor Trustee Securities Administrator and held by the Grantor Trustee Securities Administrator in trust in its Corporate Trust Office, and the Grantor Trust Distribution Account and the funds deposited therein shall not be subject to, and shall be protected from, all claims, liens, and encumbrances of any creditors or depositors of the Grantor Trustee Securities Administrator (whether made directly, or indirectly through a liquidator or receiver of the Grantor TrusteeSecurities Administrator). The amount at any time credited to the Grantor Trust Distribution Account shall be (i) fully insured by the FDIC to the maximum coverage provided thereby or (ii) uninvested. With respect to the Grantor Trust Distribution Account and the funds deposited therein, the Securities Administrator shall take such action as may be necessary to ensure that the Certificateholders shall be entitled to the priorities afforded to such a trust account (in addition to a claim against the estate of the Securities Administrator) as provided by 12 U.S.C. § 92a(e), if applicable, or any applicable comparable state statute applicable to state chartered banking corporations.