Unconverted Accounts Sample Clauses

Unconverted Accounts. Servicer shall manage, administer, and collect the Unconverted Accounts in accordance with the respective provisions of the Credit and Collection Policy, as in effect from time to time, with the goal of achieving the projections in the applicable Portfolio Budget, including (i) performing standard accounting services and general record keeping services with respect to the Unconverted Accounts, (ii) responding to any telephone and written inquiries of Obligors regarding the Unconverted Accounts and (iii) contacting Obligors to effect collection and doing so by lawful means. Servicer shall use all reasonable efforts consistent with its current practices to perform the following tasks with respect to all credit files relating to Unconverted Accounts purchased by Borrower: (1) identify bankrupt or deceased Obligors, (2) update or locate current telephone numbers and addresses, and (3) score and stratify Unconverted Accounts for marketing and credit evaluation. Servicer shall use reasonable efforts, consistent with its current practices as described by Servicer to Lender, and subject to Credit Collection Laws, to cause Borrower's Unconverted Accounts to become Converted in conformance with the Credit Collection Policy; provided, however, that upon any Unconverted Accounts Sale, Servicer shall cease all efforts to Convert such Unconverted Accounts.
Sample 1
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Unconverted Accounts. Servicer shall manage, administer, and collect the Unconverted Accounts in accordance with the respective provisions of the Credit and
Sample 1

Related to Unconverted Accounts

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

  • Disbursements of Monies from Payment Account (a) Notwithstanding any other provision in this Agreement, but subject to the other subsections of this Section 9.01, on each Payment Date, the Collateral Agent shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 8.02 in accordance with the Payment Date Report and the following priorities (the “Priority of Payments”):

  • Collection Account and Distribution Account (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (each such account or accounts, a “Collection Account”), held in trust for the benefit of the Trustee and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of good funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the related Cut-off Date, or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto):

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • The Investment Account; Eligible Investments (a) Not later than the Withdrawal Date, the Master Servicer shall withdraw or direct the withdrawal of funds in the Custodial Accounts for P&I, for deposit in the Investment Account, in an amount representing:

  • LC Collateral Account (i) The Administrative Agent is hereby authorized to establish and maintain at the Notice Office, in the name of the Administrative Agent and pursuant to a dominion and control agreement, a restricted deposit account designated “The Lead Borrower LC Collateral Account.” Each Credit Party shall deposit into the LC Collateral Account from time to time the Cash Collateral required to be deposited under Section 2.13(j) hereof.

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Investment of Cash Collateral Pursuant to the SLA, the Client shall have the right to invest Cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the Approved Borrower the amount of cash initially pledged (as adjusted for any interim marks-to-market).

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Cash Collateral Accounts Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States, which has accepted the assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement.

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