Servicer Custodial Accounts definition

Servicer Custodial Accounts. The separate accounts created and maintained by each of the Servicers pursuant to the applicable Servicing Agreement.
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Servicer Custodial Accounts. With respect to (a) each WF Servicer, the separate accounts created and maintained by each of the WF Servicers pursuant to the applicable Servicing Agreement and (b) each WMMSC Servicer, the custodial account for principal and interest established and maintained by each WMMSC Servicer and caused by the WMMSC Master Servicer to be established and maintained pursuant to Section 3.08 (i) with the corporate trust department of the Securities Administrator or another financial institution approved by the WMMSC Master Servicer such that the rights of the WMMSC Master Servicer, the Trust, the Trustee, the Securities Administrator and the Certificateholders thereto shall be fully protected against the claims of any creditors of the applicable WMMSC Servicer and of any creditors or depositors of the institution in which such account is maintained, (ii) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a WMMSC Servicer or (iii) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. In the event that a Servicer Custodial Account is established pursuant to clause (ii) of the preceding sentence, amounts held in such Servicer Custodial Account shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Servicer Custodial Account may be established. Any amount that is at any time not protected or insured in accordance with clause (b) of the first sentence of this definition of "Servicer Custodial Account" shall promptly be withdrawn from such Servicer Custodial Account and be remitted to the WMMSC Master Servicer Custodial Account.
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Servicer Custodial Accounts or any other account hereunder (other than the Certificate Account) by a Servicer.
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Examples of Servicer Custodial Accounts in a sentence

  • As provided in the Agreement, withdrawals from the related Servicer Custodial Accounts, the Master Servicer Custodial Account and the Distribution Account may be made from time to time for purposes other than distributions to Certificateholders, such purposes Exh.

  • The Trustee shall not be accountable for the use or application by the Depositor of funds paid to the Depositor in consideration of the assignment of the Mortgage Loans hereunder by the Depositor, or for the use or application of any funds paid to Subservicers or the Servicers in respect of the Mortgage Loans or deposited into the Servicer Custodial Accounts, or any other account hereunder (other than the Certificate Account) by a Servicer.

  • The Master Servicer Custodial Accounts that were required under Criteria 1122(d)(2)(iv) were not established as required by the transaction agreements.

  • Section 3.08 Collection of Mortgage Loan Payments; Servicer Custodial Accounts; and Certificate Account............................

  • As it applies to Servicer Custodial Accounts specified in the transaction agreements.

  • Section 3.11 Permitted Withdrawals from the Servicer Custodial Accounts and Certificate Account.............................

  • As provided in the Agreement, withdrawals from the related Servicer Custodial Accounts, the Master Servicer Custodial Account and the Distribution Account may be made from time to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of advances made, or certain expenses incurred, with respect to the Mortgage Loans.

  • Servicer Custodial Accounts; Collection Account; Certificate Account; and Upper-Tier Certificate Account.

  • Section 3.11 Permitted Withdrawals from the Servicer Custodial Accounts and Certificate Account...........................

  • Section 3.08 Servicer Custodial Accounts; Buy-Down Accounts...............

Related to Servicer Custodial Accounts

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

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • 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.

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

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

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

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

  • 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.

  • Collection Accounts As defined in Section 3.10(a).

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

  • 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.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

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

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.