Series 20 Accounts. (a) The Servicer will, before the Closing Date, establish and maintain a Qualified Account in the name “The Bank of New York Mellon, as Indenture Trustee, as secured party for Ford Credit Floorplan Master Owner Trust A in respect of Series 20__-_” that is designated as the “Series 20__-_ Principal Funding Account”, which account will be beneficially owned by the Issuer. The Series 20__-_ Principal Funding Account will initially be account number _________.
(b) The Servicer will, before the Closing Date, establish and maintain a Qualified Account in the name “The Bank of New York Mellon, as Indenture Trustee, as secured party for Ford Credit Floorplan Master Owner Trust A in respect of Series 20__-_” that is designated as the “Series 20__-_ Reserve Account”, which account will be beneficially owned by the Issuer. The Series 20__-_ Reserve Account will initially be account number __________.
(i) The Series 20__-_ Reserve Account will be funded by the Depositors on the Closing Date in the amount equal to the Series 20__-_ Reserve Account Required Amount for such date and will be increased and decreased as described in this Indenture Supplement.
(ii) On or prior to the first day of any Subordination Step-up Period, the Depositors may elect to increase the Series 20__-_ Reserve Account Required Percentage for such Subordination Step-up Period in lieu of increasing the Subordination Factor as contemplated by the definition thereof, by (i) notifying the Servicer and the Indenture Trustee of such election and (ii) depositing the amount of the related increase of the Series 20__-_ Reserve Account Required Amount into the Series 20__-_ Reserve Account; provided, that, if the Depositors fail to deposit the amount of such increase into the Series 20__-_ Reserve Account on or prior to the Payment Date of such Subordination Step-up Period, the Subordination Factor will automatically increase in accordance with the definition thereof.
(iii) Upon the earlier to occur of (A) the payment in full of the Series 20__-_ Notes, and (B) the Series 20__-_ Final Maturity Date, any funds remaining in the Series 20__-_ Reserve Account will be treated as Available Investor Principal Collections. The Series 20__-_ Reserve Account will, following such occurrence, be deemed to have terminated for the purposes of this Indenture Supplement.
(c) The Servicer will, before the Closing Date, establish and maintain a Qualified Account in the name “The Bank of New York Mellon, as Indenture Trust...
Series 20 Accounts
