Establishment of Note Distribution Account. The Servicer, on behalf of the Issuer and the Indenture Trustee (for the benefit of the Noteholders), will establish and maintain or cause to be established and maintained, in the name of the Indenture Trustee, an Eligible Deposit Account (the "Note Distribution Account") bearing a designation clearly indicating that the funds deposited in such account are held in trust for the benefit of the Noteholders. The Note Distribution Account will be established and maintained with the Indenture Trustee.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Trans Leasing International Inc), Pooling and Servicing Agreement (Tl Lease Funding Corp Iv)