Certificate Payment Account definition

Certificate Payment Account means the trust account established and maintained as such pursuant to Section 4.1(c) of the Sale and Servicing Agreement.

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Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

Certificate Payment Account shall have the meaning specified in Section 5.1.

Examples of Certificate Payment Account in a sentence

• The amounts on deposit in the Certificate Payment Account shall not be invested.

• The Certificate Payment Account shall be held in trust for the benefit of the Certificateholders.

• The Certificate Payment Account shall be under the sole dominion and control of the Indenture Trustee; provided, however, that the Servicer may direct the Indenture Trustee in writing to make deposits to the Certificate Payment Account in accordance with this Agreement and the Indenture and may direct the Indenture Trustee to make withdrawals from the Certificate Payment Account in accordance with this Agreement and the Trust Agreement.

• The Paying Agent shall make distributions to Certificateholders from the Certificate Payment Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee.

• The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may, on behalf of all Noteholders, waive any Event of Servicing Termination and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Collection Account, the Note Payment Account, the Certificate Payment Account or the Reserve Account in accordance with this Agreement.

• Any Paying Agent shall have the revocable power to withdraw funds from the Certificate Payment Account for the purpose of making the distributions referred to above.

• The Servicer shall promptly notify the Indenture Trustee and the Owner Trustee of any change in the account number or location of the Certificate Payment Account.

• The Issuer shall not, directly or indirectly, make payments to or distributions from the Collection Account, the Note Payment Account, the Certificate Payment Account or the Reserve Account except in accordance with this Indenture and the other Transaction Documents.

• All monies deposited from time to time in the Certificate Payment Account pursuant to this Agreement and the Indenture shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement and the Trust Agreement.

• If the Certificate Payment Account is no longer maintained at an Eligible Institution, the Servicer shall, with the Indenture Trustee’s assistance as necessary, promptly (and in any case within ten (10) calendar days or such longer period not to exceed thirty (30) calendar days as to which each Rating Agency may consent) cause the Certificate Payment Account to be moved to an Eligible Institution.

More Definitions of Certificate Payment Account

Certificate Payment Account has the meaning specified in the Sale and Servicing Agreement.

Certificate Payment Account has the meaning specified in Section 4.01(b).

Certificate Payment Account. The account or accounts created and maintained by the Certificate Paying Agent pursuant to Section 3.10(c) of the Trust Agreement. The Certificate Paying Agent will make all payments on the Certificate from money on deposit in the Certificate Payment Account. The Certificate Payment Account shall be an Eligible Account.

Certificate Payment Account means the account of that name established under, and held by the Trustee pursuant to the Trust Agreement.

Certificate Payment Account means the account established by the Trustee within the Trust Fund pursuant to Section 3.7 hereof. Certificate Purchase Agreement means the Certificate Purchase Agreement dated September 30, 1999 by and between the Company and first Union Capital Markets Corp.