Local Bank Account definition

Local Bank Account shall have the meaning specified in Section 7.01(d).

Local Bank Account has the meaning set forth in the Sale and Servicing Agreement.

Local Bank Account means a bank account established and maintained by the Servicer at the Local Bank for the benefit of the Secured Parties pursuant to the Intercreditor Agreement and the Intercreditor Party Supplement.

Examples of Local Bank Account in a sentence

• The GSU staff person assigned the responsibility of Signing Officer will be an additional signing authority on every GSU Local Bank Account.

• The Local Bank Account is a “deposit account” (under and as defined in the relevant UCC) and the Collection Account is a “securities account” (under and as defined in the relevant UCC).

• All amounts recovered (less the expenses of such enforcement) shall be remitted directly by the Servicer to the Local Bank Account (or, if the Backup Servicer is acting as successor Servicer, to the Backup Servicer Account) as soon as practicable, but in no event later than two (2) Business Days after receipt thereof.

• The Servicer shall deposit, or shall cause to be deposited, into the Local Bank Account upon receipt of such amounts by the Servicer pursuant to Section 3.03 of the Receivables Purchase Agreement.

• On such Determination Date, Trendwest shall, or, if Trendwest is not the Servicer, shall cause the Servicer to, immediately deposit the proceeds of such sale into the Local Bank Account, and such proceeds shall be deemed to be a collection of principal with respect to such Contract.

More Definitions of Local Bank Account

Local Bank Account means the account established by the Servicer in the name of the Trustee at the Local Bank, into which account collections with respect to the Contracts and Mortgage Loans will be deposited by the Servicer.

Local Bank Account. As defined in Section 5.15(a).

Local Bank Account. The meaning specified in the Servicing Agreement.

Local Bank Account means the account established in the name of the Trustee pursuant to Section 3.03 hereof, into which account shall be deposited payments related to the Lease Receivables.

Local Bank Account has the meaning set forth in Section 4.7.

Local Bank Account means Account No. 0000-000-0 established by the Borrower at the office of The First National Bank of Anchorage, 000 Xxxx 00xx Xxxxxx, X.X. Xxx 000000, Xxxxxxxxx, Xxxxxx 00000.

Local Bank Account means Account No. 1511-174-3 established by the Borrower at the office of The First National Bank of Anchorage, 201 West 36th Avenue, P.O. Box 200628, Anchorage, Alaska 99520.