Common use of Supplemental Float Account Clause in Contracts

Supplemental Float Account. On or prior to the first Distribution Date, the Servicer shall establish and maintain in its name, a separate account to be held by the Servicer for the benefit of the holders of the LIBOR Certificates (the "Supplemental Float Account"). On or before the Remittance Date, to the extent required pursuant to Section 3.21(c), the Servicer shall remit and report any interest or investment income earned on funds deposited in the Collection Account and the Servicer shall deposit such interest or investment income into the Supplemental Float Account. Funds on deposit in the Supplemental Float Account will be delivered by the Servicer to the Trustee for distribution by the Trustee on the Distribution Date in the following order of priority:

Supplemental Float Account. On or prior to the first Distribution Date, the Servicer shall establish and maintain in its name, a separate account to be held by the Servicer for the benefit of the holders of the LIBOR Certificates (the "Supplemental Float Account")) . On or before the Remittance Date, to the extent required pursuant to Section 3.21(c), the Servicer shall remit and report any interest or investment income earned on funds deposited in the Collection Account and the Servicer shall deposit such interest or investment income into the Supplemental Float Account. Funds on deposit in the Supplemental Float Account will be delivered by the Servicer to the Trustee for distribution by the Trustee on the Distribution Date in the following order of priority: