Clearing Account Bank definition

Clearing Account Bank means any Eligible Institution approved or appointed by Mortgage Lender acting as clearing account bank under the Clearing Account Agreement.

Clearing Account Bank means the financial institution at which each of the Clearing Account, the Lockbox and the Unidentified Receipts Account is maintained. On the Closing Date, the Clearing Account Bank is Bank of America, N.A.

Clearing Account Bank means [Bank of America, N.A.] or, in the event of a replacement account for the Clearing Account, the financial institution at which such account is established.

Examples of Clearing Account Bank in a sentence

• The Seller shall provide, or cause to be provided, the Calculation Agent with copies of all bank statements provided by the Clearing Account Bank with respect to the Clearing Account.

• The Clearing Account Bank shall be instructed by the Collateral Agent to sweep, on a daily basis, all amounts on deposit in the Clearing Account in excess of the Reserve Amount to the Holding Account.

• The name and address of the Clearing Account Bank, together with the account number thereof, are specified in Exhibit E.

• The Collateral Agent agrees that, on any date on which it receives notice in accordance with the Sale Agreement of a change in the Reserve Amount, it shall notify the Clearing Account Bank of such change and shall direct the Clearing Account Bank to direct the amount of any excess over the new Reserve Amount to be transferred to the Holding Account.

• The Subservicer shall hold in trust for the benefit of the Holders of the Notes any payment it receives relating to items (i) through (iv) above until such time as the Subservicer transfers any such payment to the Clearing Account Bank for deposit in the Clearing Account.

More Definitions of Clearing Account Bank

Clearing Account Bank means Wxxxx Fargo Bank, N.A., or such successor bank selected by Borrower provided such replacement bank shall be an Eligible Institution approved by Lender that, prior to succeeding as a Clearing Account Bank, enters into, with the related Manager or Managers, the respective Individual Borrowers and Lender, a Clearing Account Agreement approved by Lender, such approval in each case not to be unreasonably withheld, conditioned or delayed.

Clearing Account Bank has the meaning set forth in Section 7.1.

Clearing Account Bank. Wachovia Bank, N.A., together with its successors and assigns.

Clearing Account Bank means Deutsche Bank Trust Company Americas, or such successor bank selected by Borrower provided such replacement bank shall be an Eligible Institution approved by Lender that, prior to succeeding as a Clearing Account Bank, enters into, with the related Manager or Managers, the respective Individual Borrowers and Lender, a Clearing Account Agreement approved by Lender, such approval in each case not to be unreasonably withheld, conditioned or delayed.

Clearing Account Bank means First Interstate Bank of Washington (or an affiliate thereof), and its successors and assigns.

Clearing Account Bank means Bank of the West, a California banking corporation, together with its successors and assigns.

Clearing Account Bank means an Eligible Institution chosen by Borrower and reasonably satisfactory to Lender.