Yield Supplement Account. On the Closing Date, the Seller will deposit the Yield Supplement Account Deposit to the Yield Supplement Account from the net proceeds of the sale of the Notes. The Yield Supplement Account shall be the property of the Issuer subject to the rights of the Indenture Trustee for the benefit of the Securityholders.
Yield Supplement Account. (a) In order to assure that sufficient amounts to make required distributions of interest to Noteholders will be available, the Owner Trustee will, pursuant to the Securities Account Control Agreement and the Yield Supplement Agreement, establish and maintain with the Securities Intermediary a segregated trust account (the “Yield Supplement Account”) in the name of the Indenture Trustee which will include the money and other property deposited and held therein pursuant to the Yield Supplement Agreement and this Section 5.08.
(b) On or prior to the Closing Date, the Seller shall make a capital contribution to the Trust by depositing an amount equal to the Initial Yield Supplement Amount into the Yield Supplement Account pursuant to the Yield Supplement Agreement. On each Distribution Date, to the extent amounts then on deposit in the Yield Supplement Account are sufficient therefor, the Relevant Trustee will withdraw amounts then on deposit in the Yield Supplement Account in an amount equal to the Yield Supplement Deposit with respect to such Distribution Date and deposit such amounts into the Collection Account for application pursuant to Section 5.06. On each Distribution Date, if the amount on deposit in the Yield Supplement Account (after giving effect to all deposits thereto or withdrawals therefrom on such Distribution Date) is greater than the Required Yield Supplement Amount, the Relevant Trustee will deposit such excess into the Collection Account for distribution by the Relevant Trustee in accordance with the terms of Section 5.06(c). Upon payment in full of the Notes under the Indenture, as directed in writing by the Servicer, the Indenture Trustee will release any amounts remaining on deposit in the Yield Supplement Account, and all rights to the Yield Supplement Account and all other collateral registered or held therein to the Seller.
(c) All amounts held in the Yield Supplement Account shall be invested by the Relevant Trustee, as directed in writing by the Servicer, in Eligible Investments; provided that if (x) the Servicer shall have failed to give investment directions for any funds on deposit in the Yield Supplement Account to the Indenture Trustee by 5:00 p.m. Eastern Time (or such other time as may be agreed by the Servicer and the Indenture Trustee) on any Business Day, or (y) a Default or Event of Default shall have occurred and be continuing with respect to the Notes but the Notes shall not have been declared due and payable pursuant...
Yield Supplement Account. 45 SECTION 5.09 Statements to Certificateholders and Noteholders..................................... 47 SECTION 5.10 Net Deposits......................................................................... 48 SECTION 5.11 Swap Agreement....................................................................... 48 ARTICLE VI THE SELLER
Yield Supplement Account. On each Distribution Date prior to the beginning of the Accumulation Period and prior to the occurrence of an Early Amortization Event, the Trustee shall deposit Non-Principal Collections and Investment Proceeds, if any--to the extent available pursuant to Section 4.6(a)(x)--into the Yield Supplement Account in an amount equal to the Yield Supplement Account Deposit Amount, if any, for that Distribution Date. If the Class A Monthly Interest, Class B Monthly Interest or Class C Monthly Interest for any Distribution Date, determined as if the interest rate were based on LIBOR plus the applicable margin, exceeds the applicable monthly interest determined on the basis of the related Net Receivables Rate, the Servicer shall direct the Trustee to withdraw (and the Trustee shall withdraw) funds from the Yield Supplement Account, to the extent available, and apply those funds to deposit the amount of such excess into the Interest Funding Account first, for the benefit of the Class A Certificates, second, for the benefit of the Class B Certificates, and third, for the benefit of the Class C Certificates. Any funds on deposit in the Yield Supplement Account at the beginning of the Accumulation Period or upon the occurrence of an Early Amortization Event shall be deposited in the Principal Funding Account.
Yield Supplement Account. The Series 1999-1 Yield Supplement Ac-count shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Series 1999-1 Investor Noteholders. The Indenture Trustee and the Series 1999-1 Investor Noteholders shall have no interest in any amounts withdrawn from the Series 1999-1 Yield Supplement Account and deposited in the Series 0000-0 Xxxxxxxxx Member Distribution Account.
Yield Supplement Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 1997-1 Certificateholders, an Eligible Deposit Account (the "Yield Supplement Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-1 Certificateholders. The Servicer does hereby transfer, assign, set over and otherwise convey to the Trustee for the benefit of the Series 1997-1 Certificateholders, without recourse, all of its right, title and interest in, to and under the Yield Supplement Account, any Eligible Investments on deposit therein and any proceeds of the foregoing. The Yield Supplement Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Yield Supplement Account and in all proceeds thereof. The Yield Supplement Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-1
Yield Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Yield Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Yield Supplement Account. On each Payment Date for any Receivable that became a Liquidated Receivable during the related Collection Period, the Servicer will instruct the Indenture Trustee to withdraw from the Yield Supplement Account and deposit into the Collection Account an amount equal to the Available Yield Supplement Amount for such Receivable, as calculated immediately prior to such default or prepayment. Funds on deposit in the Yield Supplement Account may be withdrawn and paid to the Seller on any day if each Rating Agency has confirmed that such action will not result in a withdrawal or downgrade of its rating of any Class of Notes.
Yield Supplement Account. (a) In order to assure that sufficient amounts to make required distributions of interest to Noteholders will be available, the Owner Trustee will, pursuant to the Securities Account Control Agreement and the Yield Supplement Agreement, establish and maintain with the Securities Intermediary a segregated trust account (the "Yield Supplement Account") in the name of the Indenture Trustee which will include the money and other property deposited and held therein pursuant to the Yield Supplement Agreement and this Section 5.08.
(b) On or prior to the Closing Date, the Seller shall make a capital contribution to the Trust by depositing an amount equal to the Initial Yield Supplement Amount into the Yield Supplement Account pursuant to the Yield Supplement (Nissan 2003-A Sale and Servicing Agreement)
Yield Supplement Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 1998-2 Securityholders, an Eligible Deposit Account (the "Yield Supplement Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1998-2
Yield Supplement Account. 40 Section 6.02. Custody and Pledge Agreement...................................42 Section 6.03. Limitations on the Trust.......................................42 ARTICLE VII THE CERTIFICATES
