Seller Collection Account definition

Seller Collection Account means the bank account[s] maintained by the Seller with the Seller Collection Account Bank to which payments made by the relevant Borrowers under or in connection with the Mortgage [Loans / Receivables] will be paid;]
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Seller Collection Account means each dedicated collection account opened in the name of the relevant Seller and operated pursuant to the Collection Account Bank Mandate and referred to in Clause 8 (Q) (a) hereunder.
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Seller Collection Account means in respect of each Seller, the account set opposite the relevant Seller's name in Schedule 1 Part 1, under the heading "Seller Collection Account", in each case in the name of the appropriate Seller, or such other account at such branch of such bank as each Seller may from time to time specify, with the prior written consent of the Operating Agent.
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Examples of Seller Collection Account in a sentence

  • The Concentration Account and each Seller Collection Account are in the name of the Seller, and the Seller owns and has good and marketable title to the Concentration Account and each Seller Collection Account free and clear of any Adverse Claim.

  • The Seller has delivered to the Administrative Agent a fully executed Seller Account Agreement relating to the Concentration Account and each Seller Collection Account, pursuant to which the applicable Account Bank has agreed to comply with the instructions originated by the Administrative Agent directing the disposition of funds in the Concentration Account or the Seller Collection Accounts, as applicable, without further consent by the Seller, the Servicer or any other Person.

  • The Administrative Agent has “control” (as defined in Section 9-104 of the UCC) over the Concentration Account and each Seller Collection Account.

  • The Seller shall not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Seller Collection Account any amounts other than Collections or proceeds thereof.

  • The Seller shall not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Seller Collection Account any amounts other than Collections or proceeds thereof; provided, that, so long as the Repo Account Acknowledgment Agreement is in place, proceeds of Repo Assets may be deposited or credited to a Lockbox, a Collection Account or an Originator Specified Account.

  • Until the assignment of the Mortgage Receivables has been notified to the Borrowers, all payments made by Borrowers will be paid into the Seller Collection Account maintained with Bank Nagelmackers (in this capacity the Seller Collection Account Provider).

  • Surplus amounts, if any, available from the REIT Seller Collection Account shall be remitted to REIT Seller and surplus amounts, if any, available from the Trust Seller Collection Account shall be remitted to Trust Seller, as applicable.

  • If any payments on the Pool Receivables or other Collections are received by the Seller, the Servicer or an Originator, it shall hold such payments in trust for the benefit of the Administrative Agent, the Group Agents and the other Secured Parties and promptly (but in any event within one (1) Business Day after receipt and identification) remit such funds into the Seller Collection Account.

  • The Seller Collection Account is administrated by the MPT Provider.

  • The Servicer and/or each Ashland Sub-Servicer shall only terminate a Collection Account Bank or close a Collection Account or Seller Collection Account with the prior written consent of the Administrative Agent.


More Definitions of Seller Collection Account

Seller Collection Account means the deposit account of the Seller set forth on Schedule 5.19(a).
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Seller Collection Account means that certain account in the name of the Seller, account number 835287167, at X.X. Xxxxxx Xxxxx Bank, N.A.
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Related to Seller Collection Account

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • 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.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal 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.

  • 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).

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

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

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

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

  • Final Collection Date means the Business Day following the termination of purchases under this Agreement on which all amounts to which the Purchasers shall be entitled in respect of Purchased Receivables and all other amounts owing to the Administrative Agent and the Purchasers hereunder and under the other Purchase Documents are paid in full.

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

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • 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.

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

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

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • 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.

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

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Finance Charge Account is defined in Section 4.9(a).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

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

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Finance Charge Collections means Collections of Finance Charge Receivables.