Residual Account definition

Residual Account the account or accounts by that name established and maintained by the Trustee pursuant to Section 3.01.

Residual Account. The account designated as such in, and established and maintained pursuant to, Section 8.06 of the Indenture.

Residual Account means the account designated as such in, and established and maintained pursuant to, Section 8.06.

Examples of Residual Account in a sentence

• The Servicer shall deposit such payments to the Collection Account or the Residual Account, as applicable, within two Business Days of the receipt thereof.

• The Servicer will be reimbursed for Residual Servicer Advances from funds in the Residual Account in accordance with the Indenture on the second following Payment Date.

• The Residual Realizations shall be deposited in the Residual Account for disposition under this Indenture.

• Notes remaining outstanding shall be redeemed in full on any Payment Date if the aggregate amounts on deposit in the Collection Account, the Reserve Fund, the Residual Account and the Payahead Account are greater than or equal to the sum of (i) the entire outstanding note principal balance, (ii) the interest accrued thereon, (iii) any accrued and unpaid Servicing Fee (including therein amounts owed to the Indenture Trustee) and (iv) unreimbursed Servicer Advances.

• The Residual Account, Reserve Fund, and Payahead Account may be sub-accounts of the Collection Account.

More Definitions of Residual Account

Residual Account means the Residual Account established and maintained pursuant to Section 7.01 hereof.

Residual Account means the account or accounts by that name established and maintained by Indenture Trustee pursuant to Section 6.1(a) of the Pooling and Servicing Agreement.

Residual Account has the meaning ascribed to such term in Section 3 of the Escrow Agreement.

Residual Account means an account established and maintained by (and in the name of) ISO to allow Bank to credit funds as provided in Section 6. “Rules” shall mean the by-laws, regulations and/or requirements that are promulgated by Visa, MasterCard, Debit Networks and/or other Bank Card associations.

Residual Account. The account designated as the “Residual Account” established pursuant to the Account Control Agreement (Other Accounts) among the Issuer, the Indenture Trustee, the Servicer, the Back-Up Servicer and the Lock-Box Bank, or any successor commercial bank as set forth in Section 10.2.

Residual Account. The segregated account or accounts created and maintained by the Trustee pursuant to Section 1.05(a) which shall be entitled "State Street Bank and Trust Company, as Trustee, in trust for the registered holders of FDIC REMIC Trust 1996-C1, Commercial Mortgage Pass-Through Certificates, Series 1996-C1".

Residual Account means a commercial account maintained by ISO/MSP with Bank in ISO/MSP's name as described in Section 5 of this Agreement.