Policy Payment Account definition

Policy Payment Account. The account maintained pursuant to Section 5.12(b).

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.06(c) in the name of the Trustee for the benefit of the Class A Certificateholders and the Class A Certificate Insurer, and designated "Deutsche Bank National Trust Company in trust for Ambac Assurance Corporation and the registered holders of GSAMP Trust 2002-HE2 Mortgage Pass-Through Certificates, Series 2002-HE2, Class A-1, Class A-2 and Class A-3".

Policy Payment Account. As defined in Section 5.04(c) of this Agreement.

Examples of Policy Payment Account in a sentence

• Funds held in the Policy Payment Account shall not be invested by the Trustee.

• Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall be returned to the Certificate Insurer pursuant to the written instructions of the Certificate Insurer by the end of such Business Day.

• Any funds remaining in the Policy Payment Account on the first Business Day following a Payment Date shall be returned to the Insurer pursuant to the written instructions of the Insurer by the end of such Business Day.

• However, the amount of any payment of principal or interest on the Notes to be paid from funds transferred from the Policy Payment Account shall be noted as provided in subsection (d) of this Section 5.04 in the Note Register and in the Indenture Trustee’s Statement to Noteholders.

• The Indenture Trustee shall deposit upon receipt any amount paid under the Policy into the Policy Payment Account and distribute such amount only for purposes of payment to the Noteholders of the Insured Amount for which a claim was made and such amount may not be applied to satisfy any costs, expenses or liabilities of the Seller, the Depositor, the Master Servicer, the Servicers, the Indenture Trustee or the Issuer.

More Definitions of Policy Payment Account

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.06(c) in the name of the Trustee for the benefit of the Class A-2 Certificateholders and the Class A-2 Certificate Insurer, and designated "Deutsche Bank National Trust Company in trust for MBIA Insurance Corporation and the registered holders of Morgan Stanley Dean Witter Capital I Trust 2002-AM3, Mortgage Pass-Throxxx Xxrxxxxxxxxx, Xxxxxx 0002-AM3, Class A-2."

Policy Payment Account. As defined in Section 8.5(c) of the Indenture.

Policy Payment Account. The account maintained pursuant to Section 4.08(b). Pool Balance (Non-PO Portion): Any of the Group I Pool Balance (Non-PO Portion) or Group II Pool Balance (Non-PO Portion).

Policy Payment Account. The trust account or accounts created and maintained by the Trustee pursuant to Section 3.31(a) which shall be entitled "Policy Payment Account, Deutsche Bank National Trust Company, as Trustee, in trust for the registered Certificateholders of Long Beach Mortgage Loan Trust 2002-4, Asset-Backed Certificates, Series 2002-4" and which must at all times be an Eligible Account.

Policy Payment Account means the segregated trust account established by and maintained in the name of the Indenture Trustee for the benefit of the Holders and the Class A Note Insurer, established in accordance with Section 12.05, which account shall constitute part of the Collateral.

Policy Payment Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Section 5.07 in the name of the Trustee for the benefit of the Class A-1 Certificateholders and the Certificate Insurer, and designated "HSBC Bank USA, National Association, as Trustee, in trust for the registered holders of Ace Securities Corp., Asset-Backed Pass-Through Certificates, Series 2004-HE2, Class A-1 Certificates."

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.05(c) in the name of the Trustee for the benefit of the Class A-2 Certificateholders and the Class A-2 Certificate Insurer, and designated "Wells Fargo Bank Minnesota, National Association in trust for Finaxxxxx Security Assurance Inc. and the registered holders of Morgan Stanley Dean Witter Capital I Trust 2002-NC3, Mortgage Pass-Xxxxxgx Xxxxxxxxxxxx, Xxxies 2002-NC3, Class A-2".