Common use of Replacement of Ineligible Accounts Clause in Contracts

Replacement of Ineligible Accounts. If, at any time, either of the Series 2017-1 Class A-1 Distribution Account or the Series 2017-1 Class A-2 Distribution Account shall cease to be an Eligible Account (each, a “Series 2017-1 Ineligible Account”), the Master Issuer or any other Co-Issuer shall (i) within five (5) Business Days of obtaining knowledge thereof, notify the Control Party thereof and (ii) within sixty (60) days of obtaining knowledge thereof, (A) establish, or cause to be established, a new account that is an Eligible Account in substitution for such Series 2017-1 Ineligible Account, (B) following the establishment of such new Eligible Account, transfer or, with respect to the Trustee Accounts maintained at the Trustee, instruct the Trustee in writing to transfer all cash and investments from such Series 2017-1 Ineligible Account into such new Eligible Account and (C) pledge, or cause to be pledged, such new Eligible Account to the Trustee for the benefit of the Secured Parties and, if such new Eligible Account is not established with the Trustee, cause such new Eligible Account to be subject to an Account Control Agreement in form and substance reasonably acceptable to the Control Party and the Trustee.

Replacement of Ineligible Accounts. If, at any time, either of the Series 20172022-1 Class A-1 A‑1 Distribution Account or the Series 20172022-1 Class A-2 A‑2 Distribution Account shall cease to be an Eligible Account (each, a “Series 20172022-1 Ineligible Account”), the Master Issuer or any other Co-Issuer shall (i) within five (5) Business Days of obtaining knowledge Actual Knowledge thereof, notify the Control Party thereof and (ii) within sixty (60) days of obtaining knowledge Actual Knowledge thereof, (A) establish, or cause to be established, a new account that is an Eligible Account in substitution for such Series 20172022-1 Ineligible Account, (B) following the establishment of such new Eligible Account, transfer or, with respect to the Trustee Series 2022-1 Distribution Accounts maintained at the Trustee, instruct the Trustee in writing to transfer all cash and investments from such Series 20172022-1 Ineligible Account into such new Eligible Account and (C) pledge, or cause to be pledged, such new Eligible Account to the Trustee for the benefit of the Secured Parties Series 2022-1 Class A-1 Noteholders or the Series 2022-1 Class A-2 Noteholders, as applicable, and, if such new Eligible Account is not established with the Trustee, cause such new Eligible Account to be subject to an Account Control Agreement in form and substance reasonably acceptable to the Control Party and the Trustee.

Replacement of Ineligible Accounts. If, at any time, either of the Series 20172025-1 Class A-1 Distribution Account or the Series 20172025-1 Class A-2 Distribution Account shall cease to be an Eligible Account (each, a “Series 20172025-1 Ineligible Account”), the Master Issuer or any other Co-Issuer Issuers shall (i) within five (5) Business Days of obtaining knowledge Actual Knowledge thereof, notify the Control Party and the Trustee thereof and (ii) within sixty (60) days of obtaining knowledge Actual Knowledge thereof, (A) establish, or cause to be established, a new account that is an Eligible Account in substitution for such Series 20172025-1 Ineligible Account, (B) following the establishment of such new Eligible Account, transfer or, with respect to the Trustee Accounts maintained at the Trustee, instruct the Trustee in writing to transfer all cash and investments from such Series 20172025-1 Ineligible Account into such new Eligible Account and (C) pledge, or cause to be pledged, such new Eligible Account to the Trustee for the benefit of the Secured Parties and, if such new Eligible Account is not established with the Trustee, cause such new Eligible Account to be subject to an Account Control Agreement in form and substance reasonably acceptable Agreement. The Trustee shall have no obligation to the Control Party and the Trusteedetermine whether a Series 2025-1 Distribution Account is or continues to be an Eligible Account.