ACOLT Collection Account definition

ACOLT Collection Account. The account designated as such and established and maintained pursuant to Section 3.01(a)(i) of the Servicing Agreement.

Examples of ACOLT Collection Account in a sentence

  • All payments of principal and interest on the Secured Notes and the AART Collection Account Shortfall Amounts shall be made by the ACOLT Indenture Trustee from the ACOLT Collection Account solely pursuant to the calculations and written direction of the Servicer in accordance with Section 3.03(a) of the Servicing Agreement.

  • The AART Indenture Trustee and the ACOLT Indenture Trustee are authorized and instructed to retain possession and control of the Reserve Account, the AART Collection Account and the ACOLT Collection Account, as applicable, and all amounts on deposit therein.

  • Each of the ACOLT Collection Account, the Reserve Account and the Payment Ahead Servicing Account.

  • On or before the Redemption Date, ACOLT shall cause the Servicer to deposit into the ACOLT Collection Account, pursuant to Section 7.01 of the Servicing Agreement, the Optional Purchase Price.

  • The ACOLT Indenture Trustee (based on such notice) shall withdraw from the ACOLT Collection Account and pay to the Secured Noteholders on the Redemption Date, the aggregate Redemption Price of the Secured Notes.

  • On each Distribution Date and on the Redemption Date (if applicable), ACOLT shall cause amounts on deposit in the ACOLT Collection Account to be paid to the Secured Noteholders in accordance with Sections 2.5 and 8.2 and with Section 3.03 of the Servicing Agreement, less amounts properly withheld under the Code by any Person from a payment to any Secured Noteholder of interest or principal.

  • ACOLT shall not, directly or indirectly, make payments to or distributions from the ACOLT Collection Account except in accordance with the Transaction Documents.

  • As provided in Section 8.2(a) and (b), all payments of amounts due and payable with respect to any Secured Notes that are to be made from amounts withdrawn from the ACOLT Collection Account pursuant to Section 3.03 of the Servicing Agreement shall be made on behalf of ACOLT by the ACOLT Indenture Trustee or by another Paying Agent, and no amounts so withdrawn from the ACOLT Collection Account for payments of such Secured Notes shall be paid over to ACOLT except as provided in this Section 3.3.

  • On or before each Distribution Date, ACOLT shall deposit or cause to be deposited in the ACOLT Collection Account, pursuant to Section 3.03(b) of the Servicing Agreement, an aggregate sum sufficient to pay the amounts then becoming due with respect to the Secured Notes and the AART Collection Account Shortfall Amount, such sum to be held in trust for the benefit of the Persons entitled thereto.

  • Upon the making of such deposit in the ACOLT Collection Account, the Secured Notes shall be deemed satisfied and discharged, and the ACOLT Certificateholder shall succeed to all interests in and to the ACOLT Trust Estate (including the Reserve Account).

Related to ACOLT Collection Account

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments Inc., Bear Stearns ARM Trust, Mortgage Pass- Thrxxxx Xxrtificates, Series 2003-1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Collection Accounts As defined in Section 3.10(a).

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Finance Charge Account is defined in Section 4.9(a).

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Note Account As defined in the Indenture.

  • Final Collection Date means the date on or following the Termination Date on which the Outstanding Loan Amount has been reduced to zero and all other Borrower Obligations have been paid in full.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.