Spread Account. (a) On or prior to the Closing Date, WFSRC3 shall deposit the Spread Account Initial Amount into the Spread Account. The Spread Account will be held for the benefit of the Securityholders in order to effectuate the subordination of the rights of the Securityholders to the extent described above.
Appears in 13 contracts
Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3)
Spread Account. (a) On or prior to the Closing Date, WFSRC3 WFSRC shall deposit the Spread Account Initial Amount into the Spread Account. The Spread Account will be held for the benefit of the Securityholders and the Insurer in order to effectuate the subordination of the rights of the Securityholders to the extent described above.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (WFS Receivables Corp), Sale and Servicing Agreement (WFS Receivables Corp), Sale and Servicing Agreement (WFS Receivables Corp)
Spread Account. (a) On or prior to the Closing Date, WFSRC3 WFSRC4 shall deposit the Spread Account Initial Amount into the Spread Account. The Spread Account will be held for the benefit of the Securityholders in order to effectuate the subordination of the rights of the Securityholders to the extent described above.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (WFS Receivables Corp 4), Sale and Servicing Agreement (WFS Receivables Corp 4)
Spread Account. (a) On or prior to the Closing Date, WFSRC3 WFSRC2 shall deposit the Spread Account Initial Amount into the Spread Account. The Spread Account will be held for the benefit of the Securityholders and the Insurer in order to effectuate the subordination of the rights of the Securityholders to the extent described above.
Appears in 1 contract
Samples: Sale and Servicing Agreement (WFS Receivables Corp 2)
