REO Liquidation Account definition

REO Liquidation Account means the segregated account or accounts established by the Sellers and the REO Subsidiary at the REO Liquidation Account Bank exclusively for the benefit of the Sellers and REO Subsidiary into which Income received with respect to the Contributed REO Properties that are subject to a liquidation, will be deposited and held, and which shall be subject to the REO Liquidation Account Control Agreement.
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REO Liquidation Account means the segregated account or accounts established by the Sellers and the REO Subsidiary at the REO Liquidation Account Bank exclusively for the benefit of the Sellers and REO Subsidiary into which Income received with respect to the Contributed REO Properties held by the REO Subsidiary that are subject to a liquidation, will be deposited and held, and which shall be subject to the REO Liquidation Account Control Agreement.
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Examples of REO Liquidation Account in a sentence

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  • The Sellers shall cause the Property Manager to deposit and remit all Income (other than Security Deposits) received by Property Manager and each property Manager on account of the Contributed Rental Properties and Contributed REO Properties, as applicable, in the Rental Property Operating Account and the REO Liquidation Account, as applicable.

  • Each Seller shall not and shall cause each Seller Party Subsidiary to not pledge, transfer or convey any security interest in the Collection Account, Rental Property Operating Account or the REO Liquidation Account to any Person without the express written consent of Buyer.

  • The Sellers shall cause the Property Manager to deposit and remit all Income (other than Security Deposits) received by Property Manager on account of the Contributed Rental Properties and Contributed REO Properties, as applicable, in the Rental Property Operating Account, the REO Liquidation Account or the Collection Account, as applicable.

  • Each Seller shall not and shall cause each Seller Party Subsidiary to not pledge, transfer or conveyany security interest in the Rental Property Operating Account or the REO Liquidation Account to any Person without the express written consent of Administrative Agent.

  • One (1) Business Day prior to each Payment Date, the Property Manager shall remit all amounts in the Rental Property Operating Account and REO Liquidation Account into the Collection Account.

Related to REO Liquidation Account

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • 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.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust 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.

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

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

  • 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.

  • 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.

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

  • Excess Liquidation Proceeds To the extent that such amount is not required by law to be paid to the related Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to a Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance of such Mortgage Loan and accrued but unpaid interest at the related Mortgage Interest Rate through the last day of the month in which the related Liquidation Date occurs, plus (ii) related Liquidation Expenses.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Liquidation Date means (a) in the case of an event giving rise to the dissolution of the Partnership of the type described in clauses (a) and (b) of the first sentence of Section 12.2, the date on which the applicable time period during which the holders of Outstanding Units have the right to elect to continue the business of the Partnership has expired without such an election being made, and (b) in the case of any other event giving rise to the dissolution of the Partnership, the date on which such event occurs.

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

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

  • Companion Distribution Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

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

  • Administration Account As defined in Section 7.02.

  • 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.