REO Account definition
REO Account. The account or accounts maintained by the Master Servicer in respect of an REO Property pursuant to Section 3.23.
REO Account shall have the meaning set forth in Section 9.14(a) hereof.
REO Account means the Pool REO Account or a Loan Combination REO Account, as applicable.
Examples of REO Account in a sentence
The Special Servicer shall give notice to the Trustee, the Certificate Administrator, and the Master Servicer of the location of the REO Account when first established and of the new location of the REO Account prior to any change thereof.
Funds in the REO Account may be invested in Permitted Investments in accordance with Section 3.06.
Interest and investment income realized on funds deposited in the REO Account or any Servicing Account maintained by or for the Special Servicer, to the extent of the Net Investment Earnings, if any, with respect to such account for each period from and including any Distribution Date to and including the immediately succeeding P&I Advance Date, shall be for the sole and exclusive benefit of the Special Servicer and shall be subject to its withdrawal in accordance with Section 3.14(c).
The Special Servicer shall deposit, or cause to be deposited, in the REO Account, within two (2) Business Days after receipt of properly identified funds, all REO Revenues, Insurance and Condemnation Proceeds and Liquidation Proceeds received in respect of an REO Property.
More Definitions of REO Account
REO Account. As defined in Section 3.17(b).
REO Account. A segregated custodial account or accounts created and maintained by the Special Servicer pursuant to Section 3.16 of this Agreement on behalf of the Trustee in trust for the Certificateholders and the Serviced Companion Loan Holders, which (subject to any change in the identities of the Special Servicer and/or the Trustee) shall be entitled “C-III Asset Management LLC, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2016-P3 and the Companion Loan Holder REO Account, as their interests may appear.” Any such account or accounts shall be an Eligible Account.
REO Account. A segregated custodial account or accounts created and maintained by (a) with respect to each of the Mortgage Loans (other than any Outside Serviced Mortgage Loan) and any Serviced Loan Combinations (other than the (i) the Woodlands Mall Loan Combination and (ii) The Centre Loan Combination), Midland Loan Services, a Division of PNC Bank, National Association, as the Special Servicer pursuant to Section 3.16 of this Agreement on behalf of the Trustee in trust for the Certificateholders and the related Serviced Companion Loan Holders, which (subject to any change in the identities of such Special Servicer and/or the Trustee) shall be entitled “Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12 and the Companion Loan Holder, as their interests may appear--REO Account”; (b) with respect to the Woodlands Mall Loan Combination, Pacific Life Insurance Company, as the Special Servicer, pursuant to Section 3.16, which (subject to any change in the identities of such Special Servicer and/or the Trustee) shall be entitled “Pacific Life Insurance Company, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass Through Certificates, Series 2019-B12 and the Companion Loan Holder, as their interests may appear--REO Account”; and (c) with respect to The Centre Loan Combination, Trimont Real Estate Advisors, LLC, as the Special Servicer, pursuant to Section 3.16, which (subject to any change in the identities of such Special Servicer and/or the Trustee) shall be entitled “Trimont Real Estate Advisors, LLC, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass Through Certificates, Series 2019-B12 and the Companion Loan Holder, as their interests may appear REO--Account”. Any such account or accounts shall be an Eligible Account.
REO Account. The separate trust account or accounts created and maintained pursuant to this Agreement which shall be entitled "[Seller], in trust for the Purchaser, as of [date of acquisition of title], Fixed and Adjustable Rate Mortgage Loans".
REO Account. A segregated custodial account or accounts created and maintained with respect to each REO Property relating to a Serviced Mortgage Loan or, if applicable, a Serviced Whole Loan, by the Special Servicer pursuant to Section 3.16 of this Agreement on behalf of the Trustee in trust for the Certificateholders, the Uncertificated Interest Owners and any related Loan-Specific Certificateholders and/or Serviced Companion Loan Holders. Any such account or accounts shall be an Eligible Account.
REO Account. A segregated account or accounts created and maintained by the Special Servicer pursuant to Section 3.16(b) on behalf of the Trustee in trust for the Certificateholders, which shall be entitled "GMAC Commercial Mortgage Corporation, as Special Servicer, in trust for registered holders of GMAC Commercial Mortgage Securities, Inc., Mortgage Pass-Through Certificates, Series 2005-C1."
REO Account. Each of the accounts maintained, or caused to be maintained, by the Servicer in respect of an REO Property pursuant to the Servicing Agreement.