Common use of Investor Accounts Clause in Contracts

Investor Accounts. (a) The ------------------------------------------------ --- Finance Charge Account, the Principal Account and the Principal Funding Account. ------------------------------------------------------------------------------- The Servicer, for the benefit of the Series 1999-1 Investor Certificateholders, shall establish and maintain with a Qualified Trust Institution, initially Bankers Trust Company, in the name of the Trustee, on behalf of the Trust, three segregated trust accounts maintained in the corporate trust department of such Qualified Trust Institution, and held in trust by such Qualified Trust Institution (the "Finance Charge Account", the "Principal Account" and the "Principal Funding Account", respectively), bearing a designation clearly indicating that the funds therein are held in trust for the benefit of the Series 1999-1 Investor Certificateholders. The Servicer, on behalf of the Trustee (or the Trustee so long as the Finance Charge Account, the Principal Account or the Principal Funding Account, are established with the Trustee), at all times shall maintain accurate records reflecting each transaction in the Principal Account, the Finance Charge Account and the Principal Funding Account, and that funds held therein shall at all times be held in trust for the benefit of the Series 1999-1 Investor Certificateholders. Pursuant to the authority granted to it pursuant to subsection 3.1(b), the Servicer shall have the power, revocable by the Trustee, to withdraw funds, and to instruct the Trustee to withdraw funds, from the Finance Charge Account, Principal Account and the Principal Funding Account for the purpose of carrying out its duties hereunder. All such instructions from the Servicer to the Trustee shall be in writing; provided, however, that the Servicer is entitled to give instructions to the -------- ------- Trustee by facsimile.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank)

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Investor Accounts. (a) ------------------------------------------------ The ------------------------------------------------ --- Finance Charge Account, the Principal Account and the Principal Funding --------------------------------------------------------------------------- Account. ------------------------------------------------------------------------------- The Servicer, for the benefit of the Series 19991998-1 Investor ------- Certificateholders, shall establish and maintain with a Qualified Trust Institution, initially Bankers Trust Company, in the name of the Trustee, on behalf of the Trust, three segregated trust accounts maintained in the corporate trust department of such Qualified Trust Institution, and held in trust by such Qualified Trust Institution (the "Finance Charge Account", " and the "Principal Account" ", and the "Principal Funding Account", respectively), bearing a designation clearly indicating that the funds therein are held in trust for the benefit of the Series 19991998-1 Investor Certificateholders. The Servicer, on behalf of the Trustee (or the Trustee so long as the Finance Charge Account, the Principal Account or the Principal Funding Account, are established with the Trustee), ) at all times shall maintain accurate records reflecting each transaction in the Principal Account, the Finance Charge Account and the Principal Funding Account, and that funds held therein shall at all times be held in trust for the benefit of the Series 19991998-1 Investor Certificateholders. Pursuant to the authority granted to it pursuant to subsection 3.1(b), the Servicer shall have the power, revocable by the Trustee, to withdraw funds, and to instruct the Trustee to withdraw funds, from the Finance Charge Account, Principal Account and the Principal Funding Account for the purpose of carrying out its duties hereunder. All such instructions from the Servicer to the Trustee shall be in writing; provided, however, that the Servicer is -------- ------- entitled to give instructions to the -------- ------- Trustee by facsimile.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

Investor Accounts. (a) The ------------------------------------------------ --- Finance Charge Account, the Principal Account and the Principal Funding Account. ------------------------------------------------------------------------------- The Servicer, for the benefit of the Series 1999-1 Investor Certificateholders, shall establish and maintain with a Qualified Trust Institution, initially Bankers Trust Company, in the name of the Trustee, on behalf of the Trust, three segregated trust accounts maintained in the corporate trust department of such Qualified Trust Institution, and held in trust by such Qualified Trust Institution (the "Finance Charge Account", the "Principal Account" and the "Principal Funding Account", respectively), bearing a designation clearly indicating that the funds therein are held in trust for the benefit of the Series 1999-1 Investor Certificateholders. The Servicer, on behalf of the Trustee (or the Trustee so long as the Finance Charge Account, the Principal Account or the Principal Funding Account, are established with the Trustee), at all times shall maintain accurate records reflecting each transaction in the Principal Account, the Finance Charge Account and the Principal Funding Account, and that funds held therein shall at all times be held in trust for the benefit of the Series 1999-1 Investor Certificateholders. Pursuant to the authority granted to it pursuant to subsection 3.1(b), the Servicer shall have the power, revocable by the Trustee, to withdraw funds, and to instruct the Trustee to withdraw funds, from the Finance Charge Account, Principal Account and the Principal Funding Account for the purpose of carrying out its duties hereunder. All such instructions from the Servicer to the Trustee shall be in writing; provided, -------- however, that the Servicer is entitled to give instructions to the -------- ------- Trustee by ------- facsimile.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank)

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Investor Accounts. (a) The ------------------------------------------------ --- Finance Charge Account, the Principal Account and the Principal Funding Account. ------------------------------------------------------------------------------- The Servicer, for the benefit of the Series 19991997-1 Investor Certificateholders, shall establish and maintain with a Qualified Trust Institution, initially Bankers Trust Company, in the name of the Trustee, on behalf of the Trust, three segregated trust accounts maintained in the corporate trust department of such Qualified Trust Institution, and held in trust by such Qualified Trust Institution (the "Finance Charge Account", " and the "Principal Account" ", and the "Principal Funding Account", respectively), bearing a designation clearly indicating that the funds therein are held in trust for the benefit of the Series 19991997-1 Investor Certificateholders. The Servicer, on behalf of the Trustee (or the Trustee so long as the Finance Charge Account, the Principal Account or the Principal Funding Account, are established with the Trustee), ) at all times shall maintain accurate records reflecting each transaction in the Principal Account, the Finance Charge Account and the Principal Funding Account, and that funds held therein shall at all times be held in trust for the benefit of the Series 19991997-1 Investor Certificateholders. Pursuant to the authority granted to it pursuant to subsection 3.1(b), the Servicer shall have the power, revocable by the Trustee, to withdraw funds, and to instruct the Trustee to withdraw funds, from the Finance Charge Account, Principal Account and the Principal Funding Account for the purpose of carrying out its duties hereunder. All such instructions from the Servicer to the Trustee shall be in writing; provided, however, that the Servicer is entitled to give instructions to the -------- ------- Trustee by facsimile.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

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