Common use of Issuer Accounts Clause in Contracts

Issuer Accounts. (a) On or before the date hereof the Issuer shall cause to be established and maintained for Asset Pool One, one or more Eligible Deposit Accounts (each such account, a "Collection Account" and collectively, the "Collection Accounts") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the applicable Asset Pool One Noteholders. All collections and distributions received pursuant to Section 3.1 shall be deposited into the Collection Account. From time to time in connection with the issuance of a Series, Class or Tranche of Notes, the Issuer may cause the Indenture Trustee to establish one or more Eligible Deposit Accounts denominated as "Supplemental Issuer Accounts" in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the Asset Pool One Noteholders. The Collection Account and any Supplemental Issuer Account shall be under the control (within the meaning of Section 9-104 or 9-106, as applicable, of the UCC) of the Indenture Trustee for the benefit of the Indenture Trustee and the applicable Asset Pool One Noteholders. If, at any time, the institution holding the Collection Account or any Supplemental Issuer Account ceases to be an Eligible Institution, the Issuer shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account or Supplemental Issuer Account, as applicable, that is an Eligible Deposit Account and shall transfer any cash and/or investments from such Collection Account or Supplemental Issuer Account, as applicable, to such new Collection Account or Supplemental Issuer Account, as applicable. From the date each such new Collection Account is established, it shall be the "Collection Account." From the date each such new Supplemental Issuer Account is established, it shall be a "Supplemental Issuer Account." Any Supplemental Issuer Account will receive deposits as set forth herein, in the Indenture and in the applicable Indenture Supplement.

Issuer Accounts. (a) On or before the date hereof Closing Date, the Issuer shall Indenture Trustee will cause to be established and maintained for Asset Pool One, one or more six Eligible Deposit Accounts (each such account, a "Collection denominated as follows: the “DiscoverSeries Collections Account" ,” the “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” and collectively, the "Collection Accounts") “Class D Reserve Account” in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the applicable Asset Pool One Noteholders. All collections and distributions received pursuant to Section 3.1 shall be deposited into the Collection Account. From time to time in connection with the issuance of a SeriesSeries Noteholders (or, Class or Tranche of Notes, the Issuer may cause the Indenture Trustee to establish one or more Eligible Deposit Accounts denominated as "Supplemental Issuer Accounts" in the name case of the Indenture TrusteeClass C Reserve Account, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee Class C Noteholders or, in the case of the Class D Reserve Account, for the benefit of the Class D Noteholders). The DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Asset Pool One Noteholders. The Collection Class D Reserve Account constitute Issuer Accounts, shall be maintained in accordance with Article IV of the Indenture , and any Supplemental Issuer Account shall be under the sole dominion and control (within the meaning of Section 9-104 or 9-106, as applicable, of the UCC) of the Indenture Trustee for the benefit of the Indenture Trustee and Series Noteholders (or, in the applicable Asset Pool One case of the Class C Reserve Account, for the benefit of the Class C Noteholders or, in the case of the Class D Reserve Account, for the benefit of the Class D Noteholders). If, at any time, the institution holding any of the Collection DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account or any Supplemental Issuer the Class D Reserve Account ceases to be an Eligible Institution, the Issuer shall will within 10 ten (10) Business Days (or such longer period, not to exceed 30 thirty (30) calendar days, as to which each the applicable Note Rating Agency Agencies may consent in writingconsent) establish a new Collection DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Supplemental Issuer Class D Reserve Account, as applicablethe case may be, that is an Eligible Deposit Account and shall transfer any cash and/or investments from and other property to such Collection new DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Supplemental Issuer Class D Reserve Account, as applicable, to such new Collection Account or Supplemental Issuer Account, as applicablethe case may be. From the date each such new Collection DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account is established, it shall will be the "Collection “DiscoverSeries Collections Account." From ,” the date “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” or the “Class D Reserve Account,” as the case may be. Each Tranche of Notes will have its own Subaccount within the Interest Funding Account, the Principal Funding Account and the Accumulation Reserve Account; each such new Supplemental Issuer Tranche of Class C Notes will have its own Subaccount within the Class C Reserve Account, if applicable; and each Tranche of Class D Notes will have its own Subaccount within the Class D Reserve Account, if applicable. The DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account is established, it shall be a "Supplemental Issuer Account." Any Supplemental Issuer and the Class D Reserve Account will receive deposits as set forth herein, in the Indenture and in the applicable Indenture Supplementpursuant to Article III.

Issuer Accounts. (a) On or before the date hereof hereof, the Issuer shall cause to be established and maintained for Asset Pool One, 1 one or more Eligible Deposit Accounts (each such account, a "Collection Account" and collectively, the "Collection Accounts") in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the applicable Asset Pool One 1 Noteholders. All collections and distributions received pursuant to Section 3.1 shall be deposited into the Collection Account. From time to time in connection with the issuance of a Series, Class or Tranche of Notes, the Issuer may cause the Indenture Trustee to establish one or more Eligible Deposit Accounts denominated as "Supplemental Issuer Accounts" in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the Asset Pool One 1 Noteholders. The Collection Account and any Supplemental Issuer Account shall be under the control (within the meaning of Section 9-104 or 9-106, as applicable, of the UCC) of the Indenture Trustee for the benefit of the Indenture Trustee and the applicable Asset Pool One 1 Noteholders. If, at any time, the institution holding the Collection Account or any Supplemental Issuer Account ceases to be an Eligible Institution, the Issuer shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Note Rating Agency may consent in writing) establish a new Collection Account or Supplemental Issuer Account, as applicable, that is an Eligible Deposit Account and shall transfer any cash and/or investments from such Collection Account or Supplemental Issuer Account, as applicable, to such new Collection Account or Supplemental Issuer Account, as applicable. From the date each such new Collection Account is established, it shall be the "Collection Account." From the date each such new Supplemental Issuer Account is established, it shall be a "Supplemental Issuer Account." Any Supplemental Issuer Account will receive deposits as set forth herein, in the Indenture and in the applicable Indenture Supplement.

Issuer Accounts. (a) On or before the date hereof Effective Date, the Issuer shall Indenture Trustee will cause to be established and maintained for Asset Pool One, one or more six Eligible Deposit Accounts (each such account, a "Collection denominated as follows: the “DiscoverSeries Collections Account" ,” the “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” and collectively, the "Collection Accounts") “Class D Reserve Account” in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee and the applicable Asset Pool One Noteholders. All collections and distributions received pursuant to Section 3.1 shall be deposited into the Collection Account. From time to time in connection with the issuance of a SeriesSeries Noteholders (or, Class or Tranche of Notes, the Issuer may cause the Indenture Trustee to establish one or more Eligible Deposit Accounts denominated as "Supplemental Issuer Accounts" in the name case of the Indenture TrusteeClass C Reserve Account, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee Class C Noteholders or, in the case of the Class D Reserve Account, for the benefit of the Class D Noteholders). The DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Asset Pool One Noteholders. The Collection Class D Reserve Account constitute Issuer Accounts, shall be maintained in accordance with Article IV of the Indenture, and any Supplemental Issuer Account shall be under the sole dominion and control (within the meaning of Section 9-104 or 9-106, as applicable, of the UCC) of the Indenture Trustee for the benefit of the Indenture Trustee and Series Noteholders (or, in the applicable Asset Pool One case of the Class C Reserve Account, for the benefit of the Class C Noteholders or, in the case of the Class D Reserve Account, for the benefit of the Class D Noteholders). If, at any time, the institution holding any of the Collection DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account or any Supplemental Issuer the Class D Reserve Account ceases to be an Eligible Institution, the Issuer shall will within 10 ten (10) Business Days (or such longer period, not to exceed 30 thirty (30) calendar days, as to which each the applicable Note Rating Agency Agencies may consent in writingconsent) establish a new Collection DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Supplemental Issuer Class D Reserve Account, as applicablethe case may be, that is an Eligible Deposit Account and shall transfer any cash and/or investments from and other property to such Collection new DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Supplemental Issuer Class D Reserve Account, as applicable, to such new Collection Account or Supplemental Issuer Account, as applicablethe case may be. From the date each such new Collection DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account is established, it shall will be the "Collection “DiscoverSeries Collections Account." From ,” the date “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” or the “Class D Reserve Account,” as the case may be. Each Tranche of Notes will have its own Subaccount within the Interest Funding Account, the Principal Funding Account and the Accumulation Reserve Account; each such new Supplemental Issuer Tranche of Class C Notes will have its own Subaccount within the Class C Reserve Account, if applicable; and each Tranche of Class D Notes will have its own Subaccount within the Class D Reserve Account, if applicable. The DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account is established, it shall be a "Supplemental Issuer Account." Any Supplemental Issuer and the Class D Reserve Account will receive deposits as set forth herein, in the Indenture and in the applicable Indenture Supplementpursuant to Article III.