Securityholders. If, at any time, the institution holding the Defeasance Funding Account ceases to be a Qualified Institution, the Trustee shall within 10 Business Days establish a new Defeasance Funding Account meeting the conditions specified above with a Qualified Institution, and shall transfer any cash or any investments to such new Defeasance Funding Account. From the date such new Defeasance Funding Account is established, it shall be the "Defeasance Funding Account." The Trustee and the Transferor shall have the right to make deposits to the Defeasance Funding Account in accordance with Section 4.18. The Trustee, at the written direction of the Servicer, shall (i) make withdrawals from the Defeasance Funding Account from time to time, in the amounts and for the purposes set forth in this Series Supplement, and (ii) on each Transfer Date from and after the commencement of the Defeasance and prior to termination of the Defeasance Funding Account make a deposit into the Principal Account in the amount specified in, and otherwise in accordance with, subsection 4.12 of the Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Federated Department Stores Inc /De/), Pooling and Servicing Agreement (Federated Department Stores Inc /De/), Pooling and Servicing Agreement (Fingerhut Receivables Inc)
