The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Seller), a non-interest bearing segregated demand deposit account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (BA Credit Card Trust), Pooling and Servicing Agreement (BA Credit Card Trust)
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the TrustTrustee, with an office or branch of a Qualified Institution (other than BANA or the SellerTransferor), a non-interest bearing segregated demand deposit trust account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and exclusive control of the Trustee for the benefit of the Investor Certificateholders.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the TrustTrustee, with an office or branch of a Qualified Institution (other than BANA or the SellerTransferor), a non-interest non‑interest bearing segregated demand deposit trust account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and exclusive control of the Trustee for the benefit of the Investor Certificateholders.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (BA Credit Card Trust), Pooling and Servicing Agreement (BA Master Credit Card Trust II)
The Distribution Account. The Trustee, for the benefit of the Investor ------------------------ Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Seller)Institution, a non-interest bearing segregated demand deposit account (the “"Distribution Account”") bearing a -------------------- designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account , and the Trustee shall be under the have sole dominion and control of such account, funds and proceeds. The Paying Agent shall have the Trustee for revocable authority to make withdrawals from the benefit of the Investor CertificateholdersDistribution Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Consumers Master Trust), Pooling and Servicing Agreement (First Consumers Master Trust)
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the TrustTrustee, with an office or branch of a Qualified Institution (other than FIA, BACCS, or the SellerTransferor), a non-interest bearing segregated demand deposit trust account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and exclusive control of the Trustee for the benefit of the Investor Certificateholders.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (BA Master Credit Card Trust II)
The Distribution Account. The Trustee, for the benefit of the Investor CertificateholdersCertificateholders of each Series, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the SellerFNBO), a non-interest interest-bearing segregated demand deposit account (the “"Distribution Account”") bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Bankcard Master Credit Card Trust)
