DiscoverSeries Collections Account definition

DiscoverSeries Collections Account means the trust account designated as such and established pursuant to Section 5.01.
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Examples of DiscoverSeries Collections Account in a sentence

  • An amount equal to income earned on all funds on deposit in the Principal Funding Account, the Interest Funding Account and the Accumulation Reserve Account (including all Subaccounts of such accounts) (net of investment expenses and losses) for the period from and including the prior Distribution Date to but excluding the current Distribution Date shall be withdrawn from each such account, deposited into the DiscoverSeries Collections Account, and treated as Series Finance Charge Amounts.

  • An amount equal to the Accumulation Negative Spread for any Principal Funding Subaccount for any Tranche of Notes in the Accumulation Period for such Tranche shall be withdrawn from the Accumulation Reserve Subaccount for such Tranche, deposited into the DiscoverSeries Collections Account and treated as Series Finance Charge Amounts.

  • The Prefunding Excess Amount for each Tranche of Notes shall be withdrawn from the Principal Funding Subaccount for such Tranche, deposited into the DiscoverSeries Collections Account and treated as Series Principal Amounts (to be added to the Series Principal Amounts remaining after step (43) (Series Servicing Fee Shortfall from Class B Principal)).

  • From the date such new DiscoverSeries Collections Account, Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account is established, it will be the “DiscoverSeries Collections Account,” the “Interest Funding Account,” the “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” or the “Class D Reserve Account,” as the case may be.

  • The DiscoverSeries Collections Account, the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Class D Reserve Account will receive deposits pursuant to Article III.

  • An amount equal to the Accumulation Negative Spread for any Principal Funding Subaccount for any Tranche of Notes in the Accumulation Period for such Tranche shall be withdrawn from the Accumulation ReserveSubaccount for such Tranche, deposited into the DiscoverSeries Collections Account and treated as Series Finance Charge Amounts.

Related to DiscoverSeries Collections Account

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

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

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

  • 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.

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • 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.

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

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

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

  • Excess Finance Charge Collections means collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables.

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

  • Investor Finance Charge Collections means, with respect to any Distribution Date, an amount equal to (a) the product of (i) the Floating Allocation Percentage for the related Due Period and (ii) Allocable Finance Charge Collections deposited in the Collection Account for the related Due Period, minus (b) the aggregate amount of Servicer Interchange for the related Due Period.

  • Principal Collections means Collections of Principal Receivables.

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Reallocated Investor Finance Charge Collections means that portion of Group I Investor Finance Charge Collections allocated to Series 1997-1 pursuant to Section 4.10.

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Reallocated Principal Collections means, for any Transfer Date, Investor Principal Collections applied in accordance with Section 4.6 in an amount not to exceed the Monthly Principal Reallocation Amount for the related Monthly Period.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Principal Accumulation Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

  • 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.

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

  • Excess Funding Account shall have the meaning specified in Section 4.02.

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