Common use of Establishment of Note Distribution Account Clause in Contracts

Establishment of Note Distribution Account. No later than the Closing Date, the Servicer, for the benefit of the Securityholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Distribution Accounts, which shall be separate Eligible Accounts, which may be interest-bearing and which shall be entitled "NOTE DISTRIBUTION ACCOUNT, FIRST BANK NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE, IN TRUST FOR THE "FIRSTPLUS ASSET BACKED SECURITIES, SERIES 1996-4". Funds in the Note Distribution Account shall be invested in accordance with Section 5.08.

Establishment of Note Distribution Account. No later than the Closing Date, the Servicer, for the benefit of the Securityholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Distribution Accounts, which shall be separate Eligible Accounts, which may be interest-bearing and which shall be entitled "NOTE DISTRIBUTION ACCOUNT, FIRST BANK NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE, IN TRUST FOR THE "FIRSTPLUS ASSET BACKED SECURITIES, SERIES 19961997-41". Funds in the Note Distribution Account shall be invested in accordance with Section 5.08.

Establishment of Note Distribution Account. No later than the Closing Date, the Servicer, for the benefit of the Securityholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Distribution Accounts, which shall be separate Eligible Accounts, which may be interest-bearing and which shall be entitled "NOTE DISTRIBUTION ACCOUNT, FIRST BANK NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE, IN TRUST FOR THE "FIRSTPLUS ASSET BACKED SECURITIES, SERIES 1996-43". Funds in the Note Distribution Account shall be invested in accordance with Section 5.08.