Principal Distribution Account. The Servicer will, prior to the Closing Date, establish and maintain a segregated subaccount within the Collection Account at the bank or trust company then maintaining the Collection Account, which subaccount will be designated as the "Principal Distribution Account". The Principal Distribution Account is established and maintained solely for administrative purposes.
Appears in 9 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2005-C)