Common use of THE SUBORDINATION SPREAD ACCOUNTS Clause in Contracts

THE SUBORDINATION SPREAD ACCOUNTS. Upon the execution of this --------------------------------- Agreement by the parties hereto, there is hereby created (i) a trust account for the benefit of the Class A Certificateholders (the "Class A Subordination Spread Account") to include the money and other property deposited and held therein and (ii) a trust account for the benefit of the Class B Certificateholders (the "Class B Subordination Spread Account," and collectively with the Class A Subordination Spread Account, the "Subordination Spread Accounts") to include the money and other property deposited and held therein, each as described herein. On the date hereof, the Seller shall deposit the Subordination Initial Deposit into the Class A Subordination Spread Account and the Class B Specified Subordination Spread Account Balance into the Class B Subordination Spread Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De), Custody and Pledge Agreement (Nissan Auto Receivables Corp /De)

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THE SUBORDINATION SPREAD ACCOUNTS. Upon the execution of this --------------------------------- Agreement by the parties hereto, there is hereby created (i) a trust account for the benefit of the Class A Certificateholders (the "Class A Subordination Spread Account") to include the money and other property deposited and held therein and (ii) a trust account for the benefit of the Class B Certificateholders (the "Class B Subordination Spread Account," and collectively with the Class A Subordination Spread Account, the "Subordination Spread Accounts") to include the money and other property deposited and held therein, each as described herein. On the date hereof, the Seller shall deposit the Subordination Initial Deposit into the Class A Subordination Spread Account and the Class B Specified Subordination Spread Account Balance into the Class B Subordination Spread Account.

Appears in 2 contracts

Samples: Custody and Pledge Agreement (Nissan Auto Receivables 1998-a Grantor Trust), Custody and Pledge Agreement (Nissan Auto Receivables Corp /De)

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THE SUBORDINATION SPREAD ACCOUNTS. Upon the execution of --------------------------------- this --------------------------------- Agreement by the parties hereto, there is hereby created (i) a trust account for the benefit of the Class A Certificateholders (the "Class A Subordination Spread Account") to include the money and other property deposited and held therein and (ii) a trust account for the benefit of the Class B Certificateholders (the "Class B Subordination Spread Account," and collectively with the Class A Subordination Spread Account, the "Subordination Spread Accounts") to include the money and other property deposited and held therein, each as described herein. On the date hereof, the Seller shall deposit the Subordination Initial Deposit into the Class A Subordination Spread Account and the Class B Specified Subordination Spread Account Balance into the Class B Subordination Spread Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De), Custody and Pledge Agreement (Nissan Auto Receivables Corp /De)

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