Common use of Establishment and Location of Accounts Clause in Contracts

Establishment and Location of Accounts. On or before each issue of a particular Series of Notes, or within a Series of Notes, of a particular Class of Notes, the Trust will establish or cause to be established and thereafter maintain the Related Distribution Account and the Indenture Trustee will establish and maintain or cause to be established and maintained as an Eligible Deposit Account, the Related Note Liquidation Accounts. Upon the occurrence of an Event of Default with respect to a particular Series of Notes or Notes, the Indenture Trustee will establish as an Eligible Deposit Account, the Related Collateral Account. Each of the Related Distribution Accounts, Related Note Liquidation Accounts and Related Collateral Accounts shall be maintained, (i) if RBC has the High Rating, at RBC; and (ii) if RBC does not have the High Rating, at a Canadian chartered bank or trust company which has the High Rating, which may include Affiliates of the Issuer Trustee or the Indenture Trustee and the Issuer Trustee or the Indenture Trustee itself, as applicable.