Protected Accounts definition

Protected Accounts. An account established and maintained in the name of the Trustee for the benefit of Certificateholders by each Master Servicer or any Sub-Servicer with respect to the Mortgage Loans and with respect to REO Property in a Designated Depository Institution for receipt of principal and interest and other amounts as described in Section 4.01.
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Protected Accounts means all customers and potential customers for the Products as are designated as such from time to time based upon the Manufacturer policy then in effect. Updated lists of Protected Accounts will be provided to Reseller throughout the Term of this Agreement.
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Protected Accounts or the Certificate Account as provided by Section 4.03(a). Nothing in this Section 7.04(d) shall affect a Master Servicer's obligation to supervise the servicing and administration of the Mortgage Loans pursuant to Section 3.01(a). (e) In taking or recommending any course of action pursuant to this Agreement, unless specifically required to do so pursuant to this Agreement, no Master Servicer shall be required to investigate or make recommendations concerning potential liabilities which the Trusts might incur as a result of such course of action by reason of the condition of the Mortgaged Properties but each Master Servicer shall give notice to the Certificate Trustee if it has notice of such potential liabilities.
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Examples of Protected Accounts in a sentence

  • As provided in the Agreement, withdrawals from the Protected Accounts and the Distribution Account may be made from time to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of advances made, or certain expenses incurred, with respect to the Mortgage Loans.

  • Permitted Investments of funds in Protected Accounts must mature at least one Business Day before the subsequent Distribution Date.

  • All Protected Accounts shall be held in a Designated Depository Institution and segregated on the books of such institution.

  • Any defects that are identified prior to the end of one year shall also be inspected by the Contractor and the Supervising Professional and shall be corrected by the Contractor at its expense as soon as practicable but in all cases within 60 days.The Contractor shall assign all manufacturer or material supplier warranties to the City prior to final payment.

  • The assets of REMIC I shall include the Mortgage Loans and all interest owing in respect of and principal due thereon, the Distribution Account, the Master Servicer Collection Account, the Protected Accounts maintained by the Company and the Servicers, any REO Property, any proceeds of the foregoing and any other assets subject to this Agreement (other than the Net WAC Reserve Fund).

  • In addition, no later than 1:00 p.m. Eastern time on the Remittance Date, the Company shall withdraw from the Protected Accounts and remit to the Master Servicer the amount required to be withdrawn therefrom pursuant to Section 5.05 hereof.

  • As compensation for its activities hereunder, the Company shall be entitled to retain or withdraw from its Protected Accounts out of each payment of interest on an EMC Mortgage Loan included in the Trust Fund an amount equal to the Servicing Fee.

  • Additional servicing compensation in the form of any Excess Liquidation Proceeds, assumption fees, late payment charges, all Prepayment Interest Excess on any EMC Mortgage Loan, all income and gain net of any losses realized from Permitted Investments with respect to funds in or credited to the Protected Accounts maintained by the Company shall be retained by the Company to the extent not required to be deposited in the Protected Accounts maintained by the Company pursuant to Section 5.02.

  • The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Company and the Servicer to the Protected Accounts pursuant to this Agreement and the related Servicing Agreement.

  • As provided in the Agreement, withdrawals from the Protected Accounts and the Distribution Account may be made from time to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of advances made, or certain expenses incurred, with respect to the Group II Loans.

Related to Protected Accounts

  • Protected Account An account established and maintained for the benefit of Certificateholders by each Servicer with respect to the related Mortgage Loans and with respect to REO Property pursuant to the respective Servicing Agreements. Each Protected Account is required to be an Eligible Account.

  • Restricted Account means an account at Xxxxx Fargo Bank, N.A. associated with the Loan to which Borrower’s access is restricted. Capitalized terms used in these Additional Terms and Conditions to Disbursement Instruction Agreement and not otherwise defined herein shall have the meanings given to such terms in the body of the Agreement.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • 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.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Concentration Accounts has the meaning ascribed to it in Annex C.

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

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Government Accounts means Accounts on which any federal or state governmental unit or any intermediary for any federal or state governmental unit is the Account Debtor.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Security Account “Software”, and “Supporting Obligations”.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

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

  • Designated Account means the Deposit Account of Borrower identified on Schedule D-1 to the Agreement (or such other Deposit Account of Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrower to Agent).

  • Trust Accounts has the meaning assigned thereto in Section 5.1.