FBO Collection Account definition

FBO Collection Account means a deposit account segregated from Servicer’s or its Affiliates’ own funds and general assets maintained by Servicer at ▇▇▇▇▇ Fargo Bank, National Association for the benefit of Indenture Trustee and other purchasers of loans from PFL, or such other additional or replacement account or accounts segregated from Servicer’s or its Affiliates’ own funds and general assets as may from time to time be maintained by Servicer for the benefit of Indenture Trustee.
View Source

Examples of FBO Collection Account in a sentence

  • With respect to any Proceeds deposited in the FBO Collection Account, Servicer will cause the applicable Net Proceeds to be remitted to the Deposit Account within approximately two (2) Business Days of deposit into the FBO Collection Account.

Related to FBO Collection Account

  • 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.

  • Principal Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-202, which is 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, which is established and maintained pursuant to Section 8.1(a).

  • Collection Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

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

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