Collection Account Depository definition

Collection Account Depository means a national bank or banks acting as the Collection Account Depository under this Indenture, its or their successors in interest and any successors in interest pursuant to Section 5.04(a) hereof, which has a combined capital and surplus of at least $50,000,000 and whose long-term debt or bank deposit obligations are rated at least Baa3 by Moody's. The initial Collection Account Depository is JPMorgan Chase Bank.
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Collection Account Depository means the depository for the Collection Account established pursuant to Section 3.1(a) of the Sale and Allocation Agreement.
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Examples of Collection Account Depository in a sentence

  • The Collection Account shall be a segregated account established with the Collection Account Depository and the remaining foregoing Accounts and funds shall be segregated accounts established with the Corporate Trust Office of the Indenture Trustee.

  • The Collection Account Depository shall be deemed to hold all funds on deposit for the account of the Indenture Trustee and the Servicer shall transmit monthly statements on all amounts received in the Collection Account to the Indenture Trustee upon request.

  • Upon any such transfer, such successor institution shall be deemed to be the Collection Account Depository with respect to the Collection Account so transferred.

  • If at any time the institution then serving as the Collection Account Depository or the Collection Account ceases to qualify as an eligible Collection Account Depository or Eligible Account, respectively, then the Owner Trustee shall give written direction to the Indenture Trustee to transfer the Collection Account to an Eligible Account at an eligible Collection Account Depository chosen by the Owner Trustee and approved in writing by the Note Insurer.

  • All amounts on deposit in the Collection Account representing collected funds at 11:00 a.m., New York, New York time, on each Business Day on which any of the Notes are Outstanding shall be transferred by the Collection Account Depository that day to the Indenture Trustee for deposit into the Revenue Fund upon receipt.

  • Such Acknowledgment Letter shall be acknowledged in writing by the Collection Account Depository as of the date hereof.

  • On or prior to the date hereof, the Issuer, the Collection Account Depository and the Indenture Trustee shall have entered into the Collection Account Control Agreement pursuant to which the Issuer shall establish and maintain the Collection Account for the benefit of the Noteholders.

  • The Owner Trustee shall provide thirty (30) days' written notice to the Servicer, the Indenture Trustee, and the Note Insurer of its appointment of a successor Collection Account Depository which shall be acceptable to the Rating Agencies, the Note Insurer and the Indenture Trustee and which shall hold the Collection Account under the terms and conditions outlined herein and in the Indenture.

  • The Owner Trustee shall obtain an Acknowledgment Letter from each successor Collection Account Depository on or prior to the effectiveness of the transfer of the Collection Account to such successor Collection Account Depository.

  • It is agreed and understood that the Back-up Servicer is responsible for providing the services described in Section 2.23 only in accordance with the information as shall have been timely supplied to it by the Servicer, the Indenture Trustee or the Collection Account Depository, as the case may be.


More Definitions of Collection Account Depository

Collection Account Depository means the depository for the Collection Account established pursuant to Section 4.1 of the Security Agreement.
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Collection Account Depository means Wxxxx Fargo Bank (Colorado) National Association acting as Collection Account Depository hereunder, its successors in interest and any successors in interest as described pursuant to Section 3.03.
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Related to Collection Account Depository

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

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

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

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

  • 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.

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Yield Supplement Account Deposit means the initial deposit of cash in the amount of $[_________] made by or on behalf of the Seller into the Yield Supplement Account on the Closing Date.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • 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 II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

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

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

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

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

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

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • 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.

  • Note Account As defined in the Indenture.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.