Addition of Additional Accounts Sample Clauses

Addition of Additional Accounts. (a) If, from time to time, the Corporation becomes obligated to designate Additional Accounts (as such term is defined in the Pooling and Servicing Agreement) pursuant to subsection 2.09(a) of the Pooling and Servicing Agreement, then the Corporation may, at its option, give the Account Owner written notice thereof on or before the tenth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and upon receipt of such notice the Account Owner shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof the Corporation will be in compliance with the requirements of said subsection 2.09(a) of the Pooling and Servicing Agreement. Additionally, subject to subsection 2.02(b) hereof, from time to time Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of the Corporation and the Account Owner. In either event, the Account Owner shall have sole responsibility for selecting the Additional Accounts and shall determine and notify the Corporation of the Addition Cut-Off Date with respect to such Additional Accounts. (b) On the Addition Date with respect to any designation of Additional Accounts, the Corporation shall purchase the Account Owner's right, title and interest in, to and under the Receivables in Additional Accounts (as of the Addition Cut-Off Date) (and such Additional Accounts shall be deemed to be Accounts for purposes of this Agreement), subject to the satisfaction of the following conditions: i) all Additional Accounts shall be Eligible Accounts; ii) the Account Owner shall have delivered to the Corporation copies of UCC financing statements covering such Additional Accounts, if necessary to perfect the Corporation's ownership of the Receivables arising therein; iii) to the extent required of the Corporation by Section 4.03 of the Pooling and Servicing Agreement, the Account Owner shall have deposited in the Collection Account all Collections with respect to such Additional Accounts since the Addition Cut-Off Date; iv) as of each of the Addition Cut-Off Date and the Addition Date, no Insolvency Event with respect to the Account Owner shall have occurred nor shall the transfer to the Corporation of the Receivables arising in the Additional Accounts have been made in contemplation of the occurrence thereof; and v) the Account Owner shall have delivered to the Corporation an Officer's Certificate,...
AutoNDA by SimpleDocs
Addition of Additional Accounts. (a) REQUIRED ADDITIONS. If Purchaser is required, pursuant to Section 2.06 of the Pooling and Servicing Agreement or Section 2.06 of the Transfer and Servicing Agreement, to designate additional Eligible Accounts as Additional Accounts, Purchaser shall so notify RPA Seller. RPA Seller shall designate such Eligible Accounts as Additional Accounts and shall convey to Purchaser Receivables in such Additional Accounts, subject to the same qualifications and restrictions as are set forth in Section 2.06 of the Pooling and Servicing Agreement or Section 2.06 of the Transfer and Servicing Agreement, as applicable, with respect to Purchaser; provided, however, that the failure of RPA Seller to transfer Receivables to Purchaser as provided in this paragraph solely as a result of the unavailability of a sufficient amount of Eligible Receivables shall not constitute a breach of this Agreement; provided further, that any such failure which has not been timely cured will nevertheless result in the occurrence of a Pay Out Event with respect to each Series for which, pursuant to the Supplement therefor, a failure by Purchaser to convey Receivables in Additional Accounts to the Receivables Trust by the day on which it is required to convey such Receivables constitutes a Pay Out Event.
Addition of Additional Accounts. (a) If from time to time, Buyer becomes obligated to require Seller to designate Additional Accounts pursuant to Section 2.6(a) of the Servicing Agreement, then Buyer shall give Seller written notice thereof on or before the fifth Business Day (the "Notice Date") prior to the ___________ Addition Date therefor and Seller shall on or before the Addition Date designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof Buyer will be in compliance with the requirements of said Section 2.6(a). Additionally, subject to the limitations, if any, on Buyer's ability to add Additional Accounts under Section 2.6(b) of the Servicing Agreement, from time to time Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of Buyer and Seller. In either event, Seller shall have sole responsibility for select- ing the Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver a Supplemental Conveyance identifying the Additional Accounts by account number and Receivables balance as of the Addition Date, which Supplemental Conveyance shall then be effective upon receipt by Buyer.
Addition of Additional Accounts. Prior to the Transition Date, if, from time to time, the Company becomes obligated to designate Additional Accounts (as such term is defined in the Transfer and Servicing Agreement) pursuant to subsection 2.09(a) of the Transfer and Servicing Agreement, then HPLAC may, at its option, give the Bank written notice thereof on or before the fifth Business Day (the “Addition Notice Date”) prior to the Addition Date therefor, and upon receipt of such notice the Bank shall on or before such Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof HPLAC will be in compliance with the requirements of said subsection 2.09(a). Prior to the Transition Date, additionally, subject to subsections 2.09(b) and (c) of the Transfer and Servicing Agreement, from time to time Eligible Accounts may be designated to be included as Additional Accounts upon the mutual agreement of the Company, HPLAC and the Bank. In either event, the Bank shall have sole responsibility for selecting the Additional Accounts. On the Addition Date with respect to any designation of Additional Accounts, HPLAC has purchased the Bank’s right, title and interest in, to and under the Receivables in such Additional Accounts (and such Additional Accounts shall be deemed to be Accounts for purposes of this Agreement) and the related Purchased Assets.
Addition of Additional Accounts. (a) If, from time to time, Funding becomes obligated to designate Additional Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give NMG written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and NMG shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of Section 2.09 of the Pooling and Servicing Agreement. NMG shall have sole responsibility for selecting such Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from NMG to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). Upon such designation, such Automatic Additional Accounts shall be deemed to be Accounts hereunder. (b) Subject to the limitations set forth in Section 2.09(d) of the Pooling and Servicing Agreement and in any Supplement, Automatic Additional Accounts shall be included as Accounts from and after the date of creation thereof (other than any such date of creation falling during each period beginning on an Automatic Addition Termination Date or an Automatic Addition Suspension Date and ending on the day immediately preceding a Restart Date).
Addition of Additional Accounts. (a) If, from time to time, the Company becomes obligated to designate Additional Accounts pursuant to subsection 2.6(a) of the Master Pooling and Servicing Agreement, then the Company may, at its option, give HRAC written notice thereof on or before the tenth Business Day (the “Addition Notice Date”) prior to the Additional Account Closing Date therefor, and upon receipt of such notice HRAC shall on or before the Additional Account Closing Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof the Company will be in compliance with the requirements of said subsection 2.6(a). Additionally, subject to subsections 2.6(b) and (c) of the Master Pooling and Servicing Agreement and subsection 2.02(b), from time to time Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of the Company and
Addition of Additional Accounts 
AutoNDA by SimpleDocs

Related to Addition of Additional Accounts

  • Designation of Additional Accounts The Seller hereby delivers herewith a computer file or microfiche or written list containing a true and complete list of all such Additional Accounts specifying for each such Account, as of the Additional Cut-Off Date, its account number, the aggregate amount of Receivables outstanding in such Account and the aggregate amount of Principal Receivables in such Account. Such file or list shall, as of the date of this Assignment, supplement Schedule 1 to the Agreement.

  • Designation of Removed Accounts The Bank shall deliver to the Trustee, not later than five Business Days after the Removal Date, a computer file or microfiche list containing a true and complete list of each MasterCard and VISA account which as of the Removal Date shall be deemed to be a Removed Account, such accounts being identified by account number and by the aggregate amount of Receivables in such accounts as of the close of business on the Removal Date. Such list shall be marked as Schedule 1 to this Reassignment and shall be incorporated into and made a part of this Reassignment as of the Removal Date.

  • Payment of Additional Costs If termination of this contract is due to the failure of the Engineer to fulfill its contract obligations, the State may take over the project and prosecute the work to completion, and the Engineer shall be liable to the State for any additional cost to the State.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Master Servicer shall withdraw from the Master Servicer Collection Account (i) any expenses recoverable by the Trustee, the Master Servicer or the Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14. (c) In addition, on or before each Distribution Account Deposit Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans. (d) No later than 3:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all Available Funds on deposit in the Master Servicer Collection Account with respect to the related Distribution Date to the Trustee for deposit in the Distribution Account.

  • Acquisition of Warrant for Personal Account The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its account for investment and not with a view to or for sale or distribution of said Warrant or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares the Holder is acquiring is being acquired for, and will be held for, its account only.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date): (a) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (b) all payments on account of interest on the Mortgage Loans adjusted to the related Mortgage Loan Remittance Rate; (c) all Liquidation Proceeds; (d) all proceeds received by the Seller under any title insurance policy, hazard insurance policy, Primary Mortgage Insurance Policy or other insurance policy other than proceeds to be held in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or released to the Mortgagor in accordance with Customary Servicing Procedures; (e) all awards or settlements in respect of condemnation proceedings or eminent domain affecting any Mortgaged Property which are not released to the Mortgagor in accordance with Customary Servicing Procedures; (f) any amount required to be deposited in the Custodial Account pursuant to Subsections 11.15 and 11.19; (g) any amount required to be deposited by the Seller in connection with any REO Property pursuant to Subsection 11.13; (h) all amounts required to be deposited by the Seller in connection with shortfalls in principal amount of Substitute Mortgage Loans pursuant to Subsection 7.03; (i) with respect to each Full Prepayment and each Partial Prepayment, an amount (to be paid by the Seller out of its own funds) equal to the Prepayment Interest Shortfall; provided, however, that the Seller’s aggregate obligations under this paragraph for any month shall be limited to the total amount of Servicing Fees actually received with respect to the Mortgage Loans by the Seller during such month; and (j) amounts required to be deposited by the Seller in connection with the deductible clause of any hazard insurance policy. The foregoing requirements for deposit in the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, assumption fees and other ancillary fees need not be deposited by the Seller in the Custodial Account. The Seller may invest the funds in the Custodial Account in Eligible Investments designated in the name of the Seller for the benefit of the Purchaser, which shall mature not later than the Business Day next preceding the earlier of (i) the Servicing Transfer Date or (ii) the Remittance Date next following the date of such investment (except that (A) any investment in the institution with which the Custodial Account is maintained may mature on the Servicing Transfer Date or such Remittance Date, as applicable, and (B) any other investment may mature on the Servicing Transfer Date or such Remittance Date, as applicable, if the Seller shall advance funds on the Servicing Transfer Date or such Remittance Date, as applicable, pending receipt thereof to the extent necessary to make distributions to the Purchaser) and shall not be sold or disposed of prior to maturity. Notwithstanding anything to the contrary herein and above, all income and gain realized from any such investment shall be for the benefit of the Seller and shall be subject to withdrawal by the Seller. The amount of any losses incurred in respect of any such investments shall be deposited in the Custodial Account by the Seller out of its own funds immediately as realized.

  • Designation of Additional Agents The Administrative Agent shall have the continuing right, for purposes hereof, at any time and from time to time to designate one or more of the Lenders (and/or its or their Affiliates) as “syndication agents,” “documentation agents,” “book runners,” “lead arrangers,” “arrangers,” or other designations for purposes hereto, but such designation shall have no substantive effect, and such Lenders and their Affiliates shall have no additional powers, duties or responsibilities as a result thereof.

  • Personal accounts With a personal account you can send and request money from friends and family and pay online for purchases. Holders of certain existing personal accounts may be required to upgrade their accounts (which may include providing further information to PayPal) to be able to use all of the current functionality available in a personal account. To use your PayPal account primarily to sell things, you must open a business account or convert your personal account to a business account. You should take reasonable steps to stop your PayPal account being misused. You must maintain adequate security and control of any and all devices, items, IDs, passwords and personal identification numbers / codes that you use to access your PayPal account and the PayPal services. You must comply with all reasonable instructions we may issue regarding how you can keep your Payment Instrument safe. We may require you to authenticate any instruction relating to your account (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your instruction. You must keep your postal address, email address, phone number of a phone to which you are the primary user and other contact information current in your PayPal account profile. You may expressly grant, remove and manage permissions for some third parties to take certain actions on your behalf. In some cases you can do this when logged into your account – in other cases you can do this directly with the third party. You acknowledge that if you grant permission for a third party to take actions on your behalf, we may disclose certain information about your Account to this third party. You may permit third party service providers licensed by applicable law to: • provide account information services to access information about your account on your behalf; • confirm whether an amount necessary for the execution of a card-based payment transaction is available on your account; or • provide payment initiation services to initiate payments from your account on your behalf. Granting permission to any third party to access your account in any way does not relieve you of any of your responsibilities under this user agreement. You are liable to us for the actions that you authorise the third parties to carry out. You will not hold us responsible for, and you will indemnify us from, any liability arising from the actions or inactions of such third parties in connection with the permissions you granted, subject to your mandatory legal rights.

  • Certification of Adjustments Whenever an adjustment is made as provided in Sections 11 and 13 hereof, the Company shall (a) promptly prepare a certificate signed by its Chief Executive Officer, its President or any Vice President and by the Treasurer or any Assistant Treasurer or the Secretary or any Assistant Secretary of the Company setting forth such adjustment and a brief statement of the facts giving rise to such adjustment, (b) promptly file with the Rights Agent and with each transfer agent for the Preferred Stock and the Common Stock a copy of such certificate and (c) mail a brief summary thereof to each holder of a Right Certificate (or, if prior to the Distribution Date, to each holder of a certificate representing shares of Common Stock) in accordance with Section 26 hereof. Notwithstanding the foregoing sentence, the failure of the Company to give such notice shall not affect the validity of or the force or effect of or the requirement for such adjustment. The Rights Agent shall be fully protected in relying on any certificate prepared by the Company pursuant to Sections 11 and 13 and on any adjustment therein contained and shall not be deemed to have knowledge of any such adjustment unless and until it shall have received such certificate. Any adjustment to be made pursuant to Sections 11 and 13 of this Rights Agreement shall be effective as of the date of the event giving rise to such adjustment.

  • Permitted Withdrawals From Custodial Account The Company shall, from time to time, withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Purchaser in the amounts and in the manner provided for in Section 5.01; (ii) to reimburse itself for Monthly Advances of the Company's funds made pursuant to Section 5.03, the Company's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that, where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan; (iii) to reimburse itself for unreimbursed Servicing Advances, and for any unpaid Servicing Fees, the Company's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Company from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, in which case the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan; (iv) to pay itself interest on funds deposited in the Custodial Account; (v) to reimburse itself for expenses incurred and reimbursable to it pursuant to Section 8.01; (vi) to pay any amount required to be paid pursuant to Section 4.16 related to any REO Property, it being understood that, in the case of any such expenditure or withdrawal related to a particular REO Property, the amount of such expenditure or withdrawal from the Custodial Account shall be limited to amounts on deposit in the Custodial Account with respect to the related REO Property; (vii) to reimburse itself for any Servicing Advances or REO expenses after liquidation of the Mortgaged Property not otherwise reimbursed above; (viii) to remove funds inadvertently placed in the Custodial Account by the Company; and (ix) to clear and terminate the Custodial Account upon the termination of this Agreement. In the event that the Custodial Account is interest bearing, on each Remittance Date, the Company shall withdraw all funds from the Custodial Account except for those amounts which, pursuant to Section 5.01, the Company is not obligated to remit on such Remittance Date. The Company may use such withdrawn funds only for the purposes described in this Section 4.05.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!