Monthly Collateral Account definition

Monthly Collateral Account means the interest bearing account held with the Monthly Collateral Account Bank.
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Monthly Collateral Account means the account specified in clause 3.1(d ) (The Security Trustee as a Party) of the Account Agreement to be established by the Monthly Collateral Account Bank following the occurrence of a Monthly Remittance Condition.
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Monthly Collateral Account means the account specified in Clause 3.1 (The Accounts) of the Account Agreement.
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Examples of Monthly Collateral Account in a sentence

  • Swap Provisions) and clause 20.3 (Order of Priority) of the Trust Agreement (iv) in the case of interest accruing on the Monthly Collateral Account, be netted against the Servicer's obligation to pay the Monthly Collateral Part 1 and the Monthly Collateral Part 2 and be paid to the Seller following the exercise of the Clean-Up Call Option or once the Notes and the Subordinated Loan have been fully redeemed.

  • Swap Provisions) of the Trust Agreement), the Cash Collateral Account and the Monthly Collateral Account will not form part of the Available Distribution Amount.

  • Swap Provisions)), the Cash Collateral Account and the Monthly Collateral Account will not form part of the Available Distribution Amount.

  • The Account Bank shall administer, credit and debit each of the Distribution Account, the Cash Collateral Account, the Monthly Collateral Account, the Counterparty Downgrade Collateral Account and the Accumulation Account and separately in accordance with the terms and provisions hereunder.

  • The Monthly Collateral Account is a cash only account and may not go into overdraft.

  • Swap Provisions) and clause 20.3 (Order of Priority) of this Agreement (iv) in the case of interest accruing on the Monthly Collateral Account, be netted against the Servicer's obligation to pay the Monthly Collateral Part 1 and the Monthly Collateral Part 2 and be paid to the Seller following the exercise of the Clean-Up Call Option or once the Notes and the Subordinated Loan have been fully redeemed.

  • The Account Bank confirms that it has opened the Monthly Collateral Account in the name of and for the benefit of the Issuer with IBAN XX00XXXX00000000000000 which is subject to English law and denominated in Sterling.

  • Swap Provisions) of this Agreement), the Cash Collateral Account and the Monthly Collateral Account will not form part of the Available Distribution Amount.

  • The Account Bank confirms that it has opened the Monthly Collateral Account in the name of and for the benefit of the Issuer with account number 732914-03 and IBAN XX00XXXX00000000000000 which is subject to English law and denominated in Sterling.

  • The Account Bank shall administer, credit and debit each of the Distribution Account, the Cash Collateral Account, the Monthly Collateral Account and the Accumulation Account and separately in accordance with the terms and provisions hereunder.

Related to Monthly Collateral Account

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • 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.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

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

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • 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).

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and (b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents to be placed therein.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

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

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • 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.

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