Class A-2 Holder Collateral Account Sample Clauses

Class A-2 Holder Collateral Account. (a) On or prior to the Closing Date, the Issuer shall establish initially with the Trustee and cause to be maintained a segregated trust account, in the name of the Trustee in trust for the benefit of the Issuer, the Securityholders and the Liquidity Providers and in which no other Person shall have any legal or beneficial interest, which account shall be designated the “Class A-2 Holder Collateral Account” (the “Class A-2 Holder Collateral Account”). If at any time any Holder of a Class A-2 Note shall be required to deposit funds into the Class A-2 Holder Collateral Account pursuant to the terms of the Class A-2 Purchase Agreement, then (i) the Servicer shall direct the Trustee to and the Trustee shall create a segregated subaccount of the Class A-2 Holder Collateral Account for such Class A-2 Holder (each, a “Holder Subaccount”) and (ii) the Servicer shall deposit all funds received from such Holder into such Holder Subaccount. All payments of principal of the Class A-2 Notes otherwise payable to such Holder shall be deposited in such Holder Subaccount to the extent provided in the Class A-2 Purchase Agreement. The only permitted withdrawal from or application of funds credited to a Holder Subaccount shall, notwithstanding the occurrence of any Event of Default, be to satisfy such Holder’s obligations under the Class A-2 Purchase Agreement, as specified in this Section 10.08 and to return such amounts to such Holder in accordance with Section 10.08(d). (b) The deposit of funds into a Holder Subaccount pursuant to Section 10.08(a) by any Holder of a Class A-2 Note shall not constitute a Draw by the Issuer and shall not constitute a utilization of the Class A-2 Commitment of such Holder, and the funds so deposited shall not constitute principal outstanding under such Class A-2 Note. However, from and after the establishment of a Holder Subaccount with respect to any Holder of Class A-2 Notes until otherwise provided below, (i) the obligation of such Holder to advance funds under its Class A-2 Notes as part of any Draw under this Indenture and the Class A-2 Purchase Agreement shall be satisfied by the Servicer withdrawing funds from such Holder Subaccount in the amount of such Holder’s share of such Draw (determined in accordance with the Class A-2 Purchase Agreement), and (ii) all payments of principal with respect to advances made by such Holder under its Class A-2 Notes (whether or not originally funded from such Holder Subaccount) (and, in the case of a...
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Related to Class A-2 Holder Collateral Account

  • Facility LC Collateral Account The Borrower agrees that it will, upon the request of the Agent or the Required Lenders and until the final expiration date of any Facility LC and thereafter as long as any amount is payable to the LC Issuer or the Lenders in respect of any Facility LC, maintain a special collateral account pursuant to arrangements satisfactory to the Agent in its Permitted Discretion (the “Facility LC Collateral Account”) at the Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Agent, for the benefit of the Lenders and in which the Borrower shall have no interest other than as set forth in Section 8.1. Nothing in this Section 2.1.2(j) shall either obligate the Agent to require the Borrower to deposit any funds in the Facility LC Collateral Account or limit the right of the Agent to release any funds held in the Facility LC Collateral Account in each case other than as required by Section 8.1. The Borrower hereby pledges, assigns and grants to the Agent, on behalf of and for the ratable benefit of the Lenders and the LC Issuer, a security interest in all of the Borrower’s right, title and interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure the prompt and complete payment and performance of the Secured Obligations. The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of Chase having a maturity not exceeding thirty days.

  • Original Class A Percentage Section 11.05 Original Principal Balances of the Classes of Class A Certificates............................................

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • 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.