Required Additional Accounts Sample Clauses

Required Additional Accounts. If, as of the close of business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATE"), unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.
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Required Additional Accounts. (i) If, as of the end of any Monthly Period, the total amount of Principal Receivables and the then outstanding principal amount of any Participation Interests theretofore conveyed to the Trust is less than the Required Minimum Principal Balance on such date, the Transferors shall on or prior to the close of business on the tenth Business Day of the next Monthly Period (the "Required Designation Date"), cause to be designated additional Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts then available to the Transferors under the Receivables Purchase Agreements) such that, after giving effect to such addition, the aggregate principal balance of Principal Receivables, plus the then outstanding principal amount of any Participation Interests conveyed to the Trustee as of the close of business on the Addition Date, is at least equal to the Required Minimum Principal Balance on such date.
Required Additional Accounts. (i) If, as of the end of any Monthly Period, (x) the total amount of Principal Receivables and the then outstanding principal amount of any Participation Interests theretofore conveyed to the Trust is less than the Required Minimum Principal Balance on such date, or (y) the Seller’s Interest Amount is less than the Required Seller’s Interest Amount, the Transferors shall on or prior to the close of business on the tenth Business Day of the next Monthly Period (the “Required Designation Date”), cause to be designated additional Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts then available to the Transferors under the Receivables Purchase Agreements) such that, after giving effect to such addition, (A) the aggregate principal balance of Principal Receivables, plus the then outstanding principal amount of any Participation Interests conveyed to the Trustee as of the close of business on the Addition Date, is at least equal to the Required Minimum Principal Balance on such date and (B) the Seller’s Interest Amount is at least equal to the Required Seller’s Interest Amount on such date.
Required Additional Accounts. (i) If, as of the close of business on the last Business Day of any calendar month, (a) the total amount of Principal Receivables is less than the Required Minimum Principal Balance on such date or (b) the Transferor Amount is less than the Required Transferor Amount on such date, the Transferor shall on or prior to the close of business on the tenth Business Day of the next succeeding calendar month (the "Required Designation Date"), cause to be designated additional Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting VISA and MasterCard consumer revolving credit card accounts then available to the Transferor under the Receivables Purchase Agreements) such that, after giving effect to such addition the aggregate principal balance of Principal Receivables, conveyed to the Trust as of the close of business on the Addition Date is at least equal to the Required Minimum Principal Balance on such date and the Transferor Amount is at least equal to the Required Transferor Amount on such date. (ii) In lieu of, or in addition to, causing the designation of Additional Accounts pursuant to clause (i) above, the Transferor may (but shall not be required), subject to the conditions specified in paragraph (c) below, convey to the Trust participations (including 100% participations) representing undivided interests in a pool of assets primarily consisting of revolving credit card receivables, consumer loan receivables (secured and unsecured), charge card receivables, and any interests in any of the foregoing, including securities representing or backed by such receivables, and other self-liquidating financial assets including any "Eligible Assets" as such term is defined in Rule 3a-7 under the Investment Company Act (or any successor to such Rule) and collections, together with all earnings, revenue, dividends, distributions, income, issues and profits thereon ("Participation Interests"). Receivables shall not be treated as a Participation Interest for purposes of this Agreement. The addition of Participation Interests in the Trust pursuant to this paragraph (a) or paragraph (b) below shall be effected by a Participation Interest Supplement, dated the applicable Addition Date and entered into pursuant to Section 13.1(a). (iii) Any Additional Accounts or Participation Interests designated to be included as Trust Assets purs...

Related to Required 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.

  • 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):

  • 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.

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts 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, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

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