Trust Collection Account definition

Trust Collection Account shall have the meaning assigned to such term in Section 5.01(c).

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Trust Collection Account means the trust account designated as such established and maintained pursuant to Section 8.2(a) of the Indenture.

Trust Collection Account means an Eligible Account established by the Owner Trustee pursuant to Section 5.01(a) of the Trust Agreement.

Examples of Trust Collection Account in a sentence

• Except as otherwise expressly provided herein, the Trust Collection Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders.

• Upon the release from the Lien of the Indenture of amounts on deposit in the Collection Account or any other portion of the Owner Trust Estate, the Owner Trustee will cause such property to be properly deposited into the Trust Collection Account under the control of the Owner Trustee pursuant to Section 5.01(a) or distributed to the Certificateholders in accordance with the provisions of this Agreement, as the case may be.

• The Trust Collection Account shall be established and maintained as an Eligible Deposit Account, and, subject to provisions of the Sale and Servicing Agreement, bearing a designation clearly indicating that, subject to Section 5.01(b), the funds deposited therein are held by the Trust for the benefit of the Certificateholders, in each case in accordance with Section 5.01 of the Sale and Servicing Agreement.

• If, at any time, the Trust Collection Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Administrator on behalf of the Owner Trustee, if the Trust Collection Account is not then held by the Owner Trustee or an affiliate thereof) shall within 10 Business Days establish a new equivalent Eligible Deposit Account and shall transfer any cash and/or any investments to such new account.

• Subject to Section 5.01(b), the Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Trust Collection Account and in all proceeds thereof (other than any net investment earnings on Eligible Investments held therein).

• The Closed-End Exchange Note shall, following the Notice of Redemption, on the Exchange Note Redemption Date cease to be Outstanding for purposes of this Exchange Note Supplement and shall thereafter represent only the right to receive the applicable Exchange Note Redemption Price and the Trust Collection Account Shortfall Amount, if any.

• From and after the date on which the Notes of all Classes have been paid in full, on each Distribution Date, the Owner Trustee shall distribute to the Certificateholders amounts on deposit in the Trust Collection Account that are distributable to the Certificateholders in accordance with the instructions of the Servicer pursuant to Section 5.06 of the Sale and Servicing Agreement.

• Any Paying Agent shall have the revocable power to withdraw funds from the Trust Collection Account for the purpose of making the distributions referred to above.

• The Trust Collection Account shall be under the sole dominion and control of the Indenture Trustee until the Outstanding Note Amount has been reduced to zero.

• Net investment earnings on any Account shall be deposited into the Trust Collection Account.

More Definitions of Trust Collection Account

Trust Collection Account. As defined in Section 3.4(a).

Trust Collection Account means the trust account designated as such established and maintained pursuant to Section 8.2 of this Indenture.

Trust Collection Account means securities account number 33480100 established at the Collateral Agent in the State of Minnesot▇, ▇▇ ▇▇e name of the Borrower for the benefit of the Secured Parties and subject to the sole dominion and control of the Collateral Agent pursuant to a control agreement in form and substance acceptable to the Administrative Agent, which account has been designated as the Trust Collection Account, and any other account designated Appendix A-16 as such by the Collateral Agent, together with any securities account related thereto that may be established at the Collateral Agent.