Pre-Funding Period Reserve Account. (a) The Servicer shall cause the Trust Collateral Agent to establish and maintain an Eligible Deposit Account (the "Pre-Funding Period Reserve Account") with the Trust Collateral Agent, bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Noteholders and the Insurer. On or prior to the Closing Date, the Seller shall deposit an amount equal to the Pre-Funding Period Reserve Account Initial Deposit into the Pre-Funding Period Reserve Account.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (National Auto Finance Co Inc), Sale and Servicing (National Auto Finance Co Inc), Sale and Servicing Agreement (National Financial Auto Funding Trust)
Pre-Funding Period Reserve Account. (a) The Servicer shall cause the Trust Collateral Agent to establish and maintain an Eligible Deposit Account (the "Pre-Funding Period Reserve Account") with the Trust Collateral Agent, bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Noteholders and the Insurer. On or prior to the Closing Date, the Seller shall deposit an amount equal to the Pre-Funding Period Reserve Account Initial Deposit into the Pre-Funding Period Reserve Account.
Appears in 1 contract
Samples: Sale and Servicing Agreement (National Financial Auto Funding Trust)
