Common use of Principal Funding Account; Controlled Accumulation Period Clause in Contracts

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 2018-2 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-2 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

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Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 2018-2 20[__]-[_] Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-2 20[__]-[_] Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 20182017-2 4 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 20182017-2 4 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 20182022-2 4 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 20182022-2 4 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Series (American Express Receivables Financing Corp Iii LLC)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 2018-2 5 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-2 5 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 20182019-2 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 20182019-2 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

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Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 2018201[ ]-2 [ ] Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018201[ ]-2 [ ] Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 20182014-2 5 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 20182014-2 5 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Principal Funding Account; Controlled Accumulation Period. (a) (i) The Servicer, for the benefit of the Series 2018-2 20[__]-[__] Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-2 20[__]-[__] Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York MellonYork.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

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