Common use of Revenue Reduction Account Clause in Contracts

Revenue Reduction Account. The Issuer shall establish with the Trustee and the Trustee shall maintain a segregated trust account (the "Revenue Reduction Account") which shall be in the name of the Trustee "as trustee on behalf of the Holders of the IP Holdings LLC Asset-Backed Notes," and which shall be in an Eligible Financial Institution. All payments relating to the Issuer Revenue Reduction Cure shall be deposited by the Issuer into the Revenue Reduction Account. If the bank with which the Revenue Reduction Account is held ceases to be an Eligible Financial Institution, the Trustee shall within five (5) days of obtaining actual knowledge of such cessation and the identity of the replacement Eligible Financial Institution selected by the Issuer, transfer the Revenue Reduction Account to an account maintained with a replacement Eligible Financial Institution selected by the Issuer (unless an Event of Default shall have occurred and not been waived, in which case, such Eligible Financial Institution shall be selected by the Trustee). The Issuer shall promptly (within two Business Days) notify the Trustee of any such selection. Funds in the Revenue Reduction Account shall not be commingled with any other monies. All moneys deposited from time to time in the Revenue Reduction Account pursuant to this Indenture shall be held by the Trustee as part of the related Collateral as herein provided. Any interest or other earnings realized on funds on deposit in the Revenue Reduction Account shall be transferred and credited to the Collection Account within one Business Day of receipt by the Trustee. Investments on deposit in the Revenue Reduction Account, which were specifically intended by the Issuer to be liquidated in order to effect an Issuer Revenue Reduction Cure, shall be liquidated and transferred pursuant to a direction of the Servicer by the Trustee to the Collection Account on each Payment Date as may be necessary to pay the Issuer's obligations in connection with an Issuer Revenue Reduction.

Revenue Reduction Account. The Issuer shall establish with the Trustee and the Trustee shall maintain a segregated trust account (the "“Revenue Reduction Account"”) which shall be in the name of the Trustee "“as trustee on behalf of the Holders of the IP Holdings LLC Asset-Backed Notes," ” and which shall be in an Eligible Financial Institution. All payments relating to the Issuer Revenue Reduction Cure shall be deposited by the Issuer into the Revenue Reduction Account. If the bank with which the Revenue Reduction Account is held ceases to be an Eligible Financial Institution, the Trustee shall within five (5) days of obtaining actual knowledge of such cessation and the identity of the replacement Eligible Financial Institution selected by the Issuer, transfer the Revenue Reduction Account to an account maintained with a replacement Eligible Financial Institution selected by the Issuer (unless an Event of Default shall have occurred and not been waived, in which case, such Eligible Financial Institution shall be selected by the Trustee). The Issuer shall promptly (within two Business Days) notify the Trustee of any such selection. Funds in the Revenue Reduction Account shall not be commingled with any other monies. All moneys deposited from time to time in the Revenue Reduction Account pursuant to this Indenture shall be held by the Trustee as part of the related Collateral as herein provided. Any interest or other earnings realized on funds on deposit in the Revenue Reduction Account shall be transferred and credited to the Collection Account within one Business Day of receipt by the Trustee. Investments on deposit in the Revenue Reduction Account, which were specifically intended by the Issuer to be liquidated in order to effect an Issuer Revenue Reduction Cure, shall be liquidated and transferred pursuant to a direction of the Servicer by the Trustee to the Collection Account on each Payment Date as may be necessary to pay the Issuer's ’s obligations in connection with an Issuer Revenue Reduction.