Yield Supplement Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 1997-1 Certificateholders, an Eligible Deposit Account (the "Yield Supplement Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-1 Certificateholders. The Servicer does hereby transfer, assign, set over and otherwise convey to the Trustee for the benefit of the Series 1997-1 Certificateholders, without recourse, all of its right, title and interest in, to and under the Yield Supplement Account, any Eligible Investments on deposit therein and any proceeds of the foregoing. The Yield Supplement Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Yield Supplement Account and in all proceeds thereof. The Yield Supplement Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-1
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Credit Card Receivables Funding Corp), Pooling and Servicing Agreement (Partners First Receivables Funding Corp)