Policy Payments Account definition

Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

Policy Payments Account. The account established pursuant to Section 9.04 hereof.

Policy Payments Account means the account designated as such, established and maintained pursuant to Section 5.1(b) of the Sale and Servicing Agreement.

Examples of Policy Payments Account in a sentence

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

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

• Payments due hereunder in respect of Guaranteed Distributions will be disbursed by wire transfer of immediately available funds to the Policy Payments Account established pursuant to the Pooling and Servicing Agreement or, if no such Policy Payments Account has been established, to the Trustee.

• The Indenture Trustee shall deposit any amount paid under the Policy in the Policy Payments Account and distribute the amount only to pay Holders of the Notes the Guaranteed Payment for their Class of Notes for which a claim was made.

• The Indenture Trustee shall deposit any amount paid under the Policy in the Policy Payments Account and distribute the amount only to pay Holders of the Notes the Guaranteed Payment for which a claim was made.

More Definitions of Policy Payments Account

Policy Payments Account. The policy payments account maintained by the Trustee pursuant to Section 12.02(b) hereof. The Policy Payments Account shall be an Eligible Account.

Policy Payments Account. The policy payments account maintained by the Indenture Trustee pursuant to Section 7.02(b) hereof.

Policy Payments Account. As defined in Section 4.02(b) hereof.

Policy Payments Account. Not applicable.

Policy Payments Account. The account created and maintained by the Trustee pursuant to Section 12.02 hereof, which shall be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for the registered holders of New Century Home Equity Loan Trust, Series 2005-A, Asset Backed Pass-Through Certificates, Class A-4w and Class A-5w.” The Policy Payments Account must be an Eligible Account.

Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Insured Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

Policy Payments Account. The segregated account, which shall be an Eligible Account, established and maintained pursuant to Section 3.19(a) and entitled "Bankers Trust Company of California, N.A., as Trustee for Aames Mortgage Trust 1998-A Mortgage Pass-Through Certificates, Series 1998-A, Policy Payments Account".