Servicer Accounts definition

Servicer Accounts means each account listed on Schedule II (as such schedule may be modified from time to time in connection with the closing or opening of any Servicer Account in accordance with the terms hereof), in each case, in the name of the Servicer and maintained at a bank or other financial institution acting as a Collection Account Bank.
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Servicer Accounts means the Tranche A Servicer Account and the Tranche B Servicer Account.
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Servicer Accounts means the segregated accounts established by and in the name of a Servicer at a depositary institution approved by Buyer into which all Income received on account of the Purchased Assets serviced or managed by such Servicer shall be deposited.
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Examples of Servicer Accounts in a sentence

  • The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicers to the related Servicer Accounts pursuant to the applicable Servicing Agreements.

  • For the purposes of this Agreement, Servicer Accounts shall also include such other accounts as the Servicer maintains for the escrow of certain payments, such as taxes and insurance, with respect to certain Mortgaged Properties.

  • In addition to the Collection Account, the Servicer shall be permitted to establish and maintain one or more Servicer Accounts (collectively, the "Servicer Account"), which shall be an Eligible Account, in which the Servicer may deposit all payments by, and collections from, the Mortgagors received in connection with the Mortgage Loans prior to the Servicer's deposit of all such funds required to be deposited into the Collection Account.

  • In addition to the Collection Account, the Master Servicer shall be permitted to establish and maintain one or more Master Servicer Accounts (collectively, the "Master Servicer Account"), each of which shall be an Eligible Account, in which the Master Servicer may deposit all payments by, and collections from, the Mortgagors received in connection with the Mortgage Loans prior to the Master Servicer's deposit of all such funds required to be deposited into the Collection Account.

  • Except for the Servicer Accounts, there are no “Linked Accounts” (as defined in the related Account Control Agreement) with respect to any Collection Account.

  • The names and addresses of all the Servicer Account Banks, together with the account numbers of the Servicer Accounts at such Servicer Account Banks, are specified in Exhibit C (or at such other Servicer Account Banks and/or with such other Servicer Accounts as have been notified to the Guarantor and the Agent and for which Servicer Account Agreements have been executed in accordance with Section 2.2(c) hereof and delivered to the Agent).

  • All amounts on deposit in (i) the Lockbox Account and the Existing Parent Payment Account shall be transferred to the Collection Account on the same Business Day they are deposited in the Lockbox Account and the Existing Parent Payment Account, as applicable and (ii) the Servicer Accounts shall be transferred to the Collection Account on the next Business Day they are deposited in the Servicer Accounts.

  • In such event, all right, power and trusts of the Servicer in and to the Servicer Accounts shall be promptly transferred by the Servicer to either the Collateral Agent or a Successor Servicer as the Collateral Agent shall elect.

  • Pursuant to the terms of the Servicing Agreements, the Seller and Subservicer established the Servicer Accounts in the name of Seller, in its capacity as Master Servicer, for the benefit of Buyer.

  • To the extent permitted by law, the Servicer shall give LTV Steel Products and the Collateral Agent immediate notice if at any time the Servicer Accounts shall be subject to any writ, judgment, warrant, consent, execution or similar process.


More Definitions of Servicer Accounts

Servicer Accounts shall have the meaning specified in SECTION 3.1(a) of the Inventory Processing and Servicing Agreement.
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