Investor Certificateholders. The Qualified Trust Institution shall maintain, either on its own or through its nominee or custodian for the benefit of the Series 1999-1 Investor Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments described in clause (a) of the definition thereof relating to the Collection Account from the time of purchase thereof until the time of maturity. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, shall instruct the Trustee in writing with respect to the investment of funds on deposit in the Series 1999-1
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Peoples Bank), Pooling and Servicing Agreement (Peoples Bank)
Investor Certificateholders. The Qualified Trust Institution shall maintain, either on its own or through its nominee or custodian for the benefit of the Series 19991997-1 2 Investor Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments described in clause (a) of the definition thereof relating to the Collection Account from the time of purchase thereof until the time of maturity. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, shall instruct the Trustee in writing with respect to the investment of funds on deposit in the Series 19991997-12
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Investor Certificateholders. The Qualified Trust Institution shall maintain, either on its own or through its nominee or custodian for the benefit of the Series 19991997-1 Investor Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments described in clause (a) of the definition thereof relating to the Collection Account from the time of purchase thereof until the time of maturity. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, shall instruct the Trustee in writing with respect to the investment of funds on deposit in the Series 19991997-1
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)