Litigation Reserve Account definition

Litigation Reserve Account. The separate trust account or accounts to be created and maintained under the circumstances described in Section 4.17.
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Litigation Reserve Account shall have the meaning assigned thereto in the Participation and Servicing Agreement.
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Litigation Reserve Account means a segregated trust or custodial account established and maintained with an Eligible Institution for the sole purpose of holding and distributing the funds in the Litigation Reserve.
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Examples of Litigation Reserve Account in a sentence

  • Amounts on deposit in the Litigation Reserve Account shall be invested in Permitted Investments, shall not be used to pay costs or expenses other than litigation costs and expenses that constitute Servicing Expenses, and shall be used to pay such litigation costs and expenses only in any month in which the Loan Proceeds received during that month do not provide sufficient cash to pay all Servicing Expenses due and payable (without prepayment) during that month.

  • If the Company elects to establish a Litigation Reserve, it shall establish a Litigation Reserve Account.

  • The Litigation Reserve Account shall be held in trust for the benefit of the Participant and the Company and shall be established and maintained for the sole purpose of holding and distributing the Litigation Reserve funds.

  • At the time of the Final Distribution, all remaining funds held in the Litigation Reserve Account shall be allocated and distributed in accordance with Section 4.01.

  • The Company shall be required to make Working Capital Advances if, at any time, the Loan Proceeds, including funds available in the Collection Account or in any Liquidity Reserve Account or Litigation Reserve Account, are insufficient to pay all costs and expenses incurred by the Company.

  • No funds from any other source (other than interest or earnings on the funds held in the Litigation Reserve Account) shall be commingled in the Litigation Reserve Account.

  • Amounts on deposit in the Litigation Reserve Account (including interest and earnings thereon) shall be used and may be withdrawn and disbursed only in accordance with the provisions of this Section 4.03(b).

  • At any time after the Company funds the Litigation Reserve Account, the Company may, in the exercise of its reasonable discretion, determine to release some or all of the funds from the Litigation Reserve Account and allocate and distribute such released funds in accordance with Section 4.01.

  • The Servicer shall be authorized and directed to withdraw funds from the Litigation Reserve Account only to make disbursements in accordance with this Agreement and not for any other purpose.

  • Such determination will be made at the beginning of each month and if the Company determines to fund the Litigation Reserve Account for that month, it will fund such amount for such month in accordance with the provisions of Section 3.04(a).


More Definitions of Litigation Reserve Account

Litigation Reserve Account. The separate trust account or accounts to be created and maintained under the circumstances described in Section 4.17. Loan-to-Value Ratio or LTV: With respect to any First Lien Mortgage Loan, the ratio (expressed as a percentage) of the outstanding principal amount of such First Lien Mortgage Loan to the lesser of (a) the Appraised Value of the related Mortgaged Property at origination or (b) if such First Lien Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price of such Mortgaged Property.
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Litigation Reserve Account means the account in which the Litigation Reserve Amount, interest thereon and other funds required to be deposited therein, are held by the Disbursing Agent.
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Litigation Reserve Account means the account in which the Litigation Reserve Amount, interest thereon, and other funds required to be deposited therein are held by the Disbursing Agent; (q) "Litigation Reserve Amount" means the sum of $157,400;
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Litigation Reserve Account means the account in which the Litigation Reserve Amount, interest thereon, and other funds required to be deposited therein are held by the Disbursing Agent;
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Related to Litigation Reserve Account

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.