Primary Collection Account definition

Primary Collection Account has the meaning assigned to that term in subsection 2.4(A)(1)(e).
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Primary Collection Account. Each separate account, which shall be an Eligible Account, created and maintained for the Mortgage Loans pursuant to Section 4.02 hereof, each of which shall be entitled "_________ (the Primary Servicer), as Primary Servicer, for X.X. Xxxxxx Commercial Mortgage Finance Corp. Mortgage Pass-Through Certificates, Series 1997-C4."
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Primary Collection Account means that certain Deposit Account of Alliance maintained at Bank of America, N.A., with an account number as set forth on Schedule 6.12B under the heading “Primary Collection Account”, over which Collateral Agent has control for withdrawal purposes.
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Examples of Primary Collection Account in a sentence

  • Funds in any Primary Collection Account may be invested by, at the risk of, and for the benefit of, the related Primary Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity.

  • Funds in each Primary Collection Account shall be held by the related Primary Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys.

  • All such prepayments shall be paid into the Primary Collection Account and shall be applied to the Loans in accordance with subsection 2.4(E).

  • All such prepayments shall be paid into the Primary Collection Account or paid directly to Collateral Agent and shall be applied to the Loans in accordance with subsection 2.4(E).

  • The cost of preparation of any environmental assessment and the cost of any compliance, containment, clean-up or remediation shall be deemed to be a Property Protection Expense and a Servicing Advance and such Special Servicer shall be reimbursed from related REO Proceeds or to the extent provided in Section 4.03(a) from Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds on deposit in the related Primary Collection Account.

  • Except as expressly permitted or required hereunder, a Primary Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the related Primary Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature.

  • In the event of the Indenture Trustee's removal without cause, all expenses incurred by the Indenture Trustee and the Fiscal Agent in connection with such removal shall be reimbursed to the Indenture Trustee and the Fiscal Agent, as applicable, from the Primary Collection Account.

  • If a Primary Servicer determines that a P&I Advance is required, it shall on or prior to such Primary Remittance Date deposit in the related Primary Collection Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such P&I Advances for any Determination Date shall be reduced by any amounts being held for future remittance to the Master Servicer pursuant to Section 4.04(a)(1)(ii).

  • Such funds shall be held in the Primary Collection Account until the earlier of (i) any prepayment made pursuant to the provisions of Section 4.1(d) and (ii) any payment made pursuant to the provisions of Section 4.2(a) or 4.2(b), as the case may be.

  • Receipts in the Retail Concentration Account sweep into the Primary Collection Account and, ultimately, into the Primary Concentration Account.

Related to Primary Collection Account

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • 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.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Finance Charge Account is defined in Section 4.9(a).

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

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

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

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

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

  • Note Account As defined in the Indenture.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Collection Accounts As defined in Section 3.10(a).

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

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

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • 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.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.