Series Collection Subaccount definition
Examples of Series Collection Subaccount in a sentence
The Collection Account shall be divided into individual subaccounts for each Outstanding Series (each, respectively, a "Series Collection Subaccount" and, collectively, the "Series Collection Subaccounts") and for the Company (the "Company Collection Subaccount").
At the written direction of the Company (or the Servicer on behalf of the Company), funds on deposit in the Collection Account and any Series Collection Subaccount available for investment, shall be invested by the Trustee in Eligible Investments selected by the Company (or the Servicer on behalf of the Company).
The amount of the Clean-Up Call Repurchase Price will be deposited into the Collection Account for credit to the Series Collection Subaccount for such Series on such Business Day in immediately available funds and will be passed through in full to the applicable Investor Certificateholders.
The Trustee shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 2000-1 Purchaser a subaccount of the Collection Account (the "SERIES 2000-1 COLLECTION SUBACCOUNT"), which subaccount is the Series Collection Subaccount with respect to Series 2000-1 to bear a designation indicating that the funds deposited therein are held for the benefit of the Series 2000-1 Purchaser and its assignees.
For administrative purposes -------------------------------- only, the Trustee shall establish or cause to be established for each Series, so long as such Series is an outstanding Series, sub-subaccounts of the Series Collection Subaccount with respect to such Series (respectively, the "Series ------ Principal Collection Sub-subaccount" and "Series Non-Principal Collection Sub- ----------------------------------- ------------------------------------ subaccount").
The amount of the Clean-Up Call Repurchase Price will be deposited into the Collection Account for credit to the Series Collection Subaccount for such Series on such Distribution Date in immediately available funds and will be passed through in full to the applicable Investor Certificateholders.
All Investment Earnings on funds on deposit in the Trust Accounts (other than any Series Collection Subaccount) shall be deemed to constitute a portion of the Trust Available Funds.
Daily ------------------------------------------------------ allocations of the portion of Collections allocated to the Series Collection Subaccount of each Series shall be made in the manner set forth in the related Supplement.
Each Series shall represent an Undivided Interest in the Trust Assets, and the right to receive Collections and other amounts at the times and in the amounts specified in this Article IV to be deposited in the Collection Account, transferred to the applicable Series Collection Subaccount, and pursuant to the applicable Supplement, to be paid to or on behalf of the Investor Certificateholders (the "Investor Interest").
Any earnings (net of losses and investment expenses) (the “Investment Earnings”) on such invested funds in a Series Collection Subaccount and any other subsubaccounts as specified in the related Supplement will be deposited by the Trustee in the Series Collection Subaccount or in such other sub-subaccount specified in the related supplement.