Master Lockbox Account definition

Master Lockbox Account. Means the Lockbox Account as defined in the Lockbox Intercreditor Agreement.
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Master Lockbox Account shall have the meaning set forth in the Indenture.
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Master Lockbox Account means a lockbox account held by the Master Lockbox Bank in the name of Servicer, into which all ACH Credits and other electronic payments on the Mortgage Loans at all times subsequent to the Custodial Period shall be deposited in accordance with the terms of the Agreement and which shall be subject to an Account Control Agreement.
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Examples of Master Lockbox Account in a sentence

  • Once the Master Lockbox Account is established by the Servicer, the Servicer shall not change or cause to be changed or close the Master Lockbox Account without the prior written consent of the Agent.

  • Prior to the end of the Custodial Period, the Servicer shall establish the Master Lockbox Account and enter into the Account Control Agreement relating thereto.

  • Following the occurrence and during the continuance of an Event of Default, the Agent may exercise its rights and remedies under the Collection Account Agreement, the Reserve Account Agreement and the Account Control Agreement relating to the Reserve Account, the Collection Account or the Master Lockbox Account, as the case may be, and as otherwise contemplated herein.

  • ICF may not make such prepayment from funds swept into the ICF Collection Account from the Master Lockbox Account or from funds in the ICF Cash Collateral Account, except to the extent that funds in any such account would otherwise be payable to ICF in accordance with the terms of this Indenture.

  • No amounts or Collections deposited in the Master Lockbox Account shall be pledged to any Person (other than the Agent for the benefit of Secured Parties) unless such pledge does not include the Mortgage Loans, Related Security or any proceeds thereof and such Person executes and delivers to the Agent the Intercreditor Agreement.

  • Any amounts swept from the Custody Account or Master Lockbox Account (or wired from such accounts before the Federal Reserve cutoff) shall be deemed to have been paid or deposited on the day that such amounts are actually received in the Collection Account.

  • Earthquake Complementary Technical Norms of Federal District Building Code.

  • The Servicer shall, subject to its rights under the immediately preceding sentence, direct the deposit of all amounts received, or any amount equal to all amounts received, with respect to the Serviced Assets, into the Holding Account no later than the third (3rd) Business Day after such amounts were deposited into and became available in the Master Lockbox Account.

  • The Servicer shall cause all payments made by (or on behalf of) Obligors that are made by ACH Credit, credit card, debit card or other electronic transfer to be deposited (i) during the Custodial Period, directly in the Custody Account, with same day wire transfer into the Collection Account and (ii) at all times thereafter, to the Master Lockbox Account, with same day wire transfer into the Collection Account.

  • In addition, the Borrower shall instruct all of the Mortgagors relating to the Mortgage Loans, and all related insurers or other payors with respect thereto, to remit all payments in respect of the Mortgage Loans and other Collateral (i) during the Custodial Period to the Custody Account, with same day wire transfer by the Servicer to the Collection Account and (ii) at all times thereafter, to the Master Lockbox Account, with same day wire transfer or sweep by the Servicer to the Collection Account.


More Definitions of Master Lockbox Account

Master Lockbox Account means the Seller’s bank account maintained with Xxxxx Fargo Bank, N.A., for the collection of payments with respect to the Portfolio Accounts, together with all of the Seller’s lockboxes related to the Portfolio that fund into such bank account.
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Master Lockbox Account means the Seller’s bank account maintained with Wells Fargo Bank, N.A., for the collection of payments with respect to the Portfolio Accounts, together with all of the Seller’s lockboxes related to the Portfolio that fund into such bank account.
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Related to Master Lockbox Account

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • 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.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Locked Box Accounts means the unaudited, aggregated balance sheet of the Group as at the Locked Box Date, in the agreed form;

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

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

  • Lockbox Processor means Regulus Group II LLC, or its successors or assigns.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Security Deposit Account has the meaning given in Section 5.1.

  • 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”.

  • 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.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Lockbox has the meaning set forth in Section 2.11.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.