Group I Initial Deposit Account definition

Group I Initial Deposit Account. The Group I Initial Deposit Account established in accordance with Section 3.10(b) hereof and maintained by the Trustee, which shall be entitled "Wxxxx Fargo Bank Minnesota, National Association, as Trustee, in trust for registered Holders of Option One Mortgage Loan Trust 2003-1, Asset-Backed Certificates, Series 2003-1 Group I Initial Deposit Account," which must be an Eligible Account.
Sample 1
Group I Initial Deposit Account. The Group I Initial Deposit Account established in accordance with Section 3.10(b) hereof and maintained by the Trust Administrator, which shall be entitled "Citibank, N.A., as Trust Administrator for U.S. Bank National Association, as Trustee, in trust for the registered holders of Salomon Brothers Mortgage Securities VII, Inc., Salomon Home Equity Loan Trust, Series 2001-1, Asset Bacxxx Xxxx-Xxxxugh Certificates, Group I Initial Deposit Account," which must be an Eligible Account.
Sample 1

Examples of Group I Initial Deposit Account in a sentence

  • On the first Distribution Date, (i) the Initial Deposit relating to the Group I Mortgage Loans will be transferred from the Group I Initial Deposit Account to the Distribution Account and (ii) the Initial Deposit relating to the Group II Mortgage Loans will be transferred from the Group II Initial Deposit Account to the Distribution Account for inclusion in the Available Funds for such Distribution Date.

  • On behalf of the Trust Fund, the Trust Administrator shall establish and maintain the Group I Initial Deposit Account and the Group II Initial Deposit Account, held in trust for the benefit of Certificateholders.

Related to Group I Initial Deposit Account

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • 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.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

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

  • 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).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

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

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Initial Deposit Amount means the Issuing Entity’s deposit to the Reserve Account, on or before the Closing Date, of $[•].

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

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

  • Initial Reserve Account Deposit means $3,250,000.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.