Randomly Selected Account definition

Randomly Selected Account. An Account designated as such as described in Section 2.8 or 2.9 of the Trust Sale and Servicing Agreement.
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Examples of Randomly Selected Account in a sentence

  • On and after the Removal Commencement Date with respect to a Randomly Selected Account, GMAC shall not transfer Receivables with respect to such Randomly Selected Account to the Purchaser.

  • If at any time an Account shall be deemed a Randomly Selected Account as described in Section 2.9 of the Trust Sale and Servicing Agreement, the Purchaser shall give notice thereof to GMAC at the time it gives notice to the parties identified in such Section 2.9. From and after the Removal Commencement Date with respect to a Randomly Selected Account pursuant to such Section 2.9, GMAC shall not transfer Receivables with respect to such Randomly Selected Account to the Purchaser.

  • On and after the Removal Commencement Date with respect to a Randomly Selected Account, the Seller shall not transfer Receivables with respect to such Randomly Selected Account to the Purchaser.

  • Within five Business Days after the Removal Commencement Date with respect to any Account that became a Randomly Selected Account pursuant to this Section 2.9, the Depositor shall furnish a Removal Notice to the Owner Trustee stating that the Removal Commencement Date for such Ineligible Account has occurred and specifying for each such Randomly Selected Account as of the Removal Commencement Date its account number and the Removal Balance.

  • Within five Business Days after the Removal Commencement Date with respect to any Ineligible Account that became a Randomly Selected Account pursuant to this Section 2.9, the Depositor shall furnish a Removal Notice to the Owner Trustee stating that the Removal Commencement Date for such Ineligible Account has occurred and specifying for each such Account as of the Removal Commencement Date its account number and the Removal Balance.

  • In addition, in the event any Account shall be designated as a Randomly Selected Account pursuant to this Section 2.05, the Purchaser may, at its option, offer to the Seller the right to purchase the Receivables with regard to some or all of the Randomly Selected Accounts without recourse, representation or warranty.

  • If at any time an Account shall be deemed a Randomly Selected Account as described in Section 2.9 of the Trust Sale and Servicing Agreement, the Purchaser shall give notice thereof to the Seller at the time it gives notice to the parties identified in such Section 2.9. From and after the Removal Commencement Date with respect to a deemed Randomly Selected Account pursuant to such Section 2.9, the Seller shall not transfer Receivables with respect to such deemed Randomly Selected Account to the Purchaser.

  • The Schedule of Accounts shall be amended to reflect such designation as of the Removal Commencement Date and to reflect such Randomly Selected Account becoming a Removed Account as of the Removal Date.

Related to Randomly Selected Account

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

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

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

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • 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.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Xxxxx Fargo Bank, N.A. as Master Servicer for HSBC Bank USA, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MANA Series 2007-OAR4 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

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

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

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

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

  • Nominated Account means any of the accounts nominated by you from time to time for use with phone banking, internet banking or Credit External payments.

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

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • 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).

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • 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.

  • New Account means each charge account established pursuant to an Account Agreement between FSB and any Person, which account is designated pursuant to Subsection 2.03(a) to be included as an Account and identified on an Account Schedule delivered pursuant to Sections 2.01 and 2.03.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

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