Common use of Principal Payment Account Clause in Contracts

Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)

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Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)

Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]879443. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-C)

Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]879496. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2007-B)

Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]879433. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-B)

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Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]879481. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2007-A)

Principal Payment Account. The Servicer will, before the Closing Date, establish and maintain a segregated subaccount within the Collection Account or a separate trust account that is designated as the "Principal Payment Account". The Principal Payment Account will initially be subaccount or account number [__________]879414. The Principal Payment Account is established and maintained solely for administrative purposes.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2006-A)

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