Common use of TRUSTEE ACQUISITION ACCOUNT Clause in Contracts

TRUSTEE ACQUISITION ACCOUNT. (i) The Receivables Trustee has opened a bank account in its name for the benefit of the Beneficiaries of the Receivables Trust, at the Operating Bank (the "TRUSTEE ACQUISITION ACCOUNT") bearing a designation clearly indicating that the funds deposited therein are held on trust for the benefit of the Beneficiaries of the Receivables Trust. (ii) The Receivables Trustee, as trustee of the Receivables Trust, shall possess all legal right, title and interest in all funds on deposit from time to time in the Trustee Acquisition Account and in all proceeds thereof. (iii) The Receivables Trustee at all times shall maintain accurate records reflecting each transaction in the Trustee Acquisition Account and all debits and credits recorded in any ledger relating thereto.

TRUSTEE ACQUISITION ACCOUNT. (i) The Receivables Trustee has opened a bank account in its name which it will hold and operate for the benefit of the Beneficiaries Undivided Bare Trust beneficiaries of the Receivables Trust, at the Operating Bank (the "TRUSTEE ACQUISITION ACCOUNT") bearing a designation clearly indicating that the funds deposited therein are held on trust for the benefit of the Beneficiaries beneficiaries of the Receivables Trust. (ii) The Receivables Trustee, as trustee of the Receivables Trust, shall possess all legal right, title and interest in all funds on deposit from time to time in the Trustee Acquisition Account and in all proceeds thereof. (iii) The Receivables Trustee at all times shall maintain accurate records reflecting each transaction in the Trustee Acquisition Account and all debits and credits recorded in any ledger relating thereto.