Owner Trust Spread Account definition

Owner Trust Spread Account shall have the meaning set forth in the Indenture.
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Owner Trust Spread Account has the meaning specified in Section 8.2.
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Examples of Owner Trust Spread Account in a sentence

  • The Owner Trust Spread Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Class C Noteholders (and, to the extent expressly provided in the Indenture, the Certificateholder).

  • To the extent so instructed by the Administrator on any Transfer Date, the Indenture Trustee or the Paying Agent shall, if the amount on deposit in the Owner Trust Spread Account is greater than the Required Owner Trust Spread Account Amount for such Transfer Date, pay the amount of such excess to the Certificateholder pursuant to the Indenture.

  • Funds on deposit in the Owner Trust Spread Account shall be invested at the direction of the Administrator by the Indenture Trustee or the Paying Agent in Permitted Investments.

  • Upon the occurrence of the Pay Out Event (other than as a result of an Event of Default), the Required Owner Trust Spread Account Amount shall automatically be increased to 4.0% of the initial Note Initial Principal Balance.

  • On or prior to the Closing Date, the Issuer shall cause the Administrator to establish and maintain, an Eligible Deposit Account, in the name of the Indenture Trustee, for the benefit of the Noteholders, the "Note Distribution Account" and another Eligible Deposit Account in the name of the Indenture Trustee for the benefit of the Class C Noteholders and, to the extent expressly provided herein, the Certificateholder, the "Owner Trust Spread Account".

  • All income or other gain (net of losses and investment expenses) from investments of moneys deposited in the Owner Trust Spread Account shall be applied, as directed by the Administrator by an Issuer Order, (a) to the extent available, to pay the Class C Note Interest Requirement and (b) to the extent of any remaining investment proceeds, to increase the amount on deposit on the Owner Trust Spread Account.

  • The Required Owner Trust Account Amount shall be adjusted on each Transfer Date until the amount required is on deposit in the Owner Trust Spread Account; provided, however, that the Required Owner Trust Spread Account Amount shall not be adjusted downward until at least three months have elapsed since the first month for which an increase was required.

  • On the Closing Date, the Issuer shall deposit in the Owner Trust Spread Account the amount received from the Depositor pursuant to subsection 2.1(a) of the Deposit and Administration Agreement.

  • On each Transfer Date, after all deposits to and withdrawals from the Owner Trust Spread Account, such amounts shall be invested in Permitted Investments maturing on the next succeeding Transfer Date, or on the Closing Date in Permitted Investments maturing on the first Transfer Date.

  • The "Owner Trust Spread Account" shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Class C Noteholders and the Certificateholder.

Related to Owner Trust Spread Account

  • Owner Trust Estate means all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Owner Trust means with respect to any Leased Aircraft, the trust created by the "Trust Agreement" referred to in the Leased Aircraft Indenture related thereto.

  • Owner Trustee Fee means an annual fee equal to $3,000, payable on the Payment Date occurring in May of each year, commencing in May 2020.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Class A Certificateholder The registered holder of a Class A Certificate.

  • Master Trust Agreement means the Second Amended and Restated Trust Agreement, dated as of May 8, 2019, between Verizon ABS II LLC, as depositor, and the Master Trust Owner Trustee, as amended, restated, supplemented or modified from time to time.

  • Original Certificate Principal Balance With respect to any Class of Certificates, the amount specified for such Class in Section 4.01(d).

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Certificate Administrator Accounts As defined in Section 3.07(a) of this Agreement.

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.