Servicing Account definition

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

Servicing Account. The separate Eligible Account or Accounts created and maintained pursuant to Section 3.06(b).

Servicing Account. The separate trust account created and maintained by the Master Servicer or each Subservicer with respect to the Mortgage Loans or REO Property, which shall be an Eligible Account, for collection of taxes, assessments, insurance premiums and comparable items as described in Section 3.08 of the Servicing Agreement.

Examples of Servicing Account in a sentence

• If the Master Servicer shall deposit in a Servicing Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Servicing Account, any provision herein to the contrary notwithstanding.

• The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date.

• As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date.

• Subject to any terms of the related Mortgage Loan Documents that specify the nature of the account in which Escrow Payments shall be held, each Servicing Account shall be an Eligible Account.

• The Servicer is hereby authorized to make withdrawals from and deposits to the related Servicing Account for purposes required or permitted by this Agreement and the applicable Servicing Agreement.

More Definitions of Servicing Account

Servicing Account. Any account established and maintained by the Servicer with respect to the related Mortgage Loans and any REO Property, pursuant to the terms of the Servicing Agreement.

Servicing Account shall have the meaning assigned thereto in Section 3.03(a).

Servicing Account. As defined in Section 3.05 hereof.

Servicing Account. The Servicing Account established and maintained by the Servicer in accordance with Section 6.15 hereof. The Servicing Account, and amounts deposited therein, shall not constitute part of the Trust Fund and Certificateholders shall have no rights thereto.

Servicing Account. The account created and maintained pursuant to Section 5.09.

Servicing Account means any of the accounts established and maintained pursuant to Section 3.03(a).

Servicing Account. The separate Eligible Account or Accounts created and maintained pursuant to Section 3.06(b). Servicer: IndyMac Bank, F.S.B., a federal savings bank, and its successors and assigns, in its capacity as servicer under this Agreement.