Certificate Account definition

Certificate Account. The separate Eligible Account or Accounts created and maintained by the Master Servicer pursuant to Section 3.05 with a depository institution in the name of the Master Servicer for the benefit of the Trustee on behalf of Certificateholders and designated "Countrywide Home Loans, Inc. in trust for the registered holders of Alternative Loan Trust 2002-7, Mortgage Pass-Through Certificates Series 2002-11."

Certificate Account. The account maintained by the Trustee in accordance with the provisions of Section 4.04.

Certificate Account. The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.06(d) with a depository institution in the name of the Servicer for the benefit of the Trustee on behalf of Certificateholders and designated "IndyMac Bank, F.S.B., in trust for the registered holders of Residential Asset Securitization Trust 2006-A14CB, Mortgage Pass-Through Certificates, Series 2006-N."

Examples of Certificate Account in a sentence

• Any Delinquency Advances, Estimated Funding, income from and proceeds of liquidation of Defeasance Securities, and Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account.

• On or before the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer or the Trustee will transfer or cause to be transferred for deposit to a Certificate Account (directly or through a clearing account as provided in Subsection 7.2(3)) certain funds deposited to one or more Custodial Accounts by a Primary Servicer or Subservicer for each Mortgage Loan that is serviced by that Primary Servicer or Subservicer.

• Except as otherwise expressly provided in the Trust Documents, the Trustee will not be liable for the use or application by the Master Servicer or any Primary Servicer of any funds paid to the Master Servicer or any Primary Servicer in respect of the Mortgage Loans, or deposited to, or withdrawn from, any Custodial Account, or the calculation of the amount transferred to any Certificate Account by the Master Servicer or by any Primary Servicer or transferred to the Paying Agent.

• If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account.

• The funds for the purchase price, other Prepayment or final scheduled payment, as applicable, will be deposited to a Custodial Account or a Certificate Account and will be passed through to Holders at the time and to the extent provided in Article VII.

More Definitions of Certificate Account

Certificate Account. The trust account established and maintained by the Master Servicer in the name of the Master Servicer on behalf of the Trustee pursuant to Section 3.01. The Certificate Account shall be an Eligible Account.

Certificate Account. The separate account or accounts created and maintained pursuant to Section 4.01 of the Standard Terms, which shall be entitled "Bank One, National Association, as trustee, in trust for the registered holders of Residential Funding Mortgage Securities I, Inc., Mortgage Pass-Through Certificates, Series 2003-S9" and which must be an Eligible Account.

Certificate Account. The account created and maintained pursuant to Section 4.05.

Certificate Account. As defined in Section 3.03.

Certificate Account. The separate account or accounts created and maintained pursuant to Section 4.01 of the Standard Terms, which shall be entitled "Deutsche Bank Trust Company Americas, as trustee, in trust for the registered holders of Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2005-QO1" and which must be an Eligible Account. Certificate Policy: None.

Certificate Account. The separate Eligible Account created and maintained with the Trust Administrator, or any other bank or trust company acceptable to the Rating Agencies which is incorporated under the laws of the United States or any state thereof pursuant to Section 3.05, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust Administrator, as agent for the Trustee, on behalf of the Certificateholders or any other account serving a similar function acceptable to the Rating Agencies. Funds in the Certificate Account may (i) be held uninvested without liability for interest or compensation thereon or (ii) be invested at the direction of the Trust Administrator in Eligible Investments and reinvestment earnings thereon (net of investment losses) shall be paid to the Trust Administrator. Funds deposited in the Certificate Account (exclusive of the amounts permitted to be withdrawn pursuant to Section 3.08(b)) shall be held in trust for the Certificateholders.

Certificate Account. Means the account or accounts created and maintained pursuant to Section 4.01(a).