Accumulations Account definition

Accumulations Account means, in respect of the Series 2023-1 Ownership Interest, the segregated Eligible Deposit Account established in the name of the Series 2023-1 Co-Owner in respect of the Series 2023- 1 Ownership Interest in accordance with Section 6.6 of the Pooling and Servicing Agreement and Section 6.1 for the purpose of depositing therein all remittances made in respect of the Series 2023-1 Ownership Interest and, initially, shall mean the account specified in Schedule “1”;

Accumulations Account means, in respect of the Series 1997-1 Notes, the account defined as such and maintained by the Trust pursuant to Section 4.1(1);

Accumulations Account means, in respect of a Series, the segregated Eligible Deposit Account established in the name of the related Co-Owner in accordance with the Pooling and Servicing Agreement and the related Series Purchase Agreement for the purpose of depositing therein all remittances made in respect of the related Ownership Interest.

Examples of Accumulations Account in a sentence

• During this period, the Servicer will deposit a specified portion of Collections to the related Accumulations Account in order to be in a position to pay the Noteholders of such Series of Notes in full on the Targeted Principal Distribution Date of the related Series.

• To generate the ozone, the ozone generator was turned on for 1 min., 2 min., 4 min., and 6 min.

• Any amounts payable to the Trust upon any applicable early termination under the Swap Agreement (a “Counterparty Termination Payment”) shall be paid to a replacement swap counterparty by, or as directed by, the Trust as consideration for the entering into of a swap agreement in replacement of the Swap Agreement and any excess Counterparty Termination Payment shall be deposited immediately into the Accumulations Account for application pursuant to Article 4.

• The principal amount of each Class B Note shall be payable on the applicable Principal Payment Date in an amount equal to a pro rata portion of the amounts required to be applied from the Accumulations Account on account of principal pursuant to Section 4.2(2)(g); in each case, provided that all amounts owing in respect of the Class A Notes have been paid in full.

• The principal amount of each Class A Note shall be payable on the applicable Principal Payment Date in an amount equal to a pro rata portion of the amounts required to be applied from the Accumulations Account on account of principal pursuant to Section 4.2(2)(f).

• The Remittance Notice shall also specify the day upon which each such amount is to be remitted or such earlier date as will ensure with reasonable certainty the deposit of such amounts into the Accumulations Account or other Series Account for the related Series in order to make the required remittances in respect of the Series on the day.

• Except as otherwise expressly provided in this Agreement, any Series Purchase Agreement or any Additional Property Agreement, neither the Seller nor any Person claiming through or under the Seller has any interest in or claim to the Collection Account, any Accumulations Account or any Additional Property.

• The Accumulations Account of a Series and all funds at any time and from time to time on deposit therein and all investments made from time to time with such funds shall be separate and segregated from the assets of Co-Owners and of Entitled Parties of any other Series.

• The Person in whose name the Accumulations Account of a Series is established shall execute the related Series Purchase Agreement, any related Additional Property Agreement and any other document as may be required in the Series Purchase Agreement and, in so doing, shall become obligated to apply the funds on deposit therein in the manner, at the times and for the purposes set forth herein and in the related Series Purchase Agreement and any related Additional Property Agreement.

• Any charges or expenses associated with such investments may be charged to and netted against the amounts on deposit in the Accumulations Account.

More Definitions of Accumulations Account

Accumulations Account shall have the meaning specified in Section 6.6.

Accumulations Account means, in respect of any Series, the segregated Eligible Deposit Account established in the name of the related Co-Owner in accordance with the related Series Co-Ownership Agreement.

Accumulations Account means, in respect of the Series 2023-2 Ownership Interest, the segregated Canadian Dollar Eligible Deposit Account established in the name of the Series 2023-2 Co-Owner in respect of the Series 2023-2 Ownership Interest in accordance with Section 6.6 of the Pooling and Servicing Agreement and Section 6.1 for the purpose of depositing therein all remittances made in respect of the Series 2023-2 Ownership Interest and, initially, shall mean the account specified in Schedule “1”;