Master Servicer Account definition

Master Servicer Account. An Eligible Account established by the Master Servicer pursuant to Section 3.01 hereof.

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Master Servicer Account shall have the meaning assigned thereto in Section 3.06(a).

Master Servicer Account means the account created and maintained pursuant to Section 5.7.

Examples of Master Servicer Account in a sentence

The Master Servicer from time to time shall be permitted to withdraw or receive distribution of any and all investment earnings from the Master Servicer Account.
Any and all investment earnings on amounts on deposit in the Master Servicer Account from time to time shall be for the account of the Master Servicer.
The Master Servicer shall be entitled to reimburse itself for any such indemnified amount from funds on deposit in the Master Servicer Account.
In such event, the legal expenses and costs of such action and any liability resulting therefrom, shall be liabilities of the Trust, and the Master Servicer shall be entitled to be reimbursed therefor out of the Master Servicer Account in accordance with the provisions of Section 8.07 and Section 8.12.
The Master Servicer shall keep and maintain separate accounting (to the extent provided to it by each Servicer), on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any payment to and from the Master Servicer Account.
The amounts remitted by the Servicers to the Master Servicer on each Servicer Remittance Date shall be credited to the Master Servicer Account.
No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to a Collection Account, the Master Servicer Account or the Certificate Account.
The Securities Administrator shall not be accountable for the use or application by the Depositor of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Depositor in respect of the Mortgage Loans or deposited in or withdrawn from any Collection Account, the Master Servicer Account or the Certificate Account other than any funds held by or on behalf of the Securities Administrator in accordance with Sections 3.01 and 3.02.
No later than 21 days after each Distribution Date, the Master Servicer shall, upon written request, forward to the Depositor and the Securities Administrator, a statement setting forth the balance of the Master Servicer Account as of the close of business on the last day of the month of the Distribution Date and showing, for the one calendar month covered by the statement, any deposits and or withdrawals from the Master Servicer Account.
In such event, the legal expenses and costs of such action and any liability resulting therefrom, shall be liabilities of the Trust, and the Master Servicer shall be entitled to be reimbursed therefor out of the Master Servicer Account in accordance with the provisions of Section 9.07 and Section 9.

More Definitions of Master Servicer Account

Master Servicer Account. The Eligible Account created pursuant to Section 3.01(b) of the Trust Agreement. So long as ▇▇▇▇▇ Fargo shall be both the Master Servicer and the Securities Administrator, the Master Servicer Account shall be the same account as, or a sub-account of, the Certificate Account, as described in the definition of “Certificate Account” in these Standard Terms and as provided in Section 3.01(b) of the Trust Agreement.

Master Servicer Account. The separate Eligible Account created and initially maintained by the Master Servicer pursuant to Section 3.05(e) in the name of the Trustee for the benefit of the Certificateholders and designated "Universal Master Servicing, LLC, in trust for registered holders of Terwin Mortgage Trust, Asset-Backed Certificates, Series TMTS 2003-2HE". Funds in the Master Servicer Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

Master Servicer Account. As defined in Section 3.06(a).