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

• Each Servicing Account shall satisfy the requirements for a Subservicing Account and, to the extent permitted by the Program Guide or as is otherwise acceptable to the Master Servicer, may also function as a Subservicing Account.

• 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.

• By the Business Day in each calendar month following the deposit in the Servicing Account of amounts on deposit therein pursuant to clause (iii) above or pursuant to any Principal Prepayment in Full, the Master Servicer shall (a) withdraw such amounts from the Servicing Account and (b) deposit such amounts in the Collection Account.

• 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.

• By the Withdrawal Date in each calendar month, the Master Servicer shall (a) withdraw from the Servicing Account all amounts on deposit therein pursuant to clauses (i) and (ii) above (other than amounts attributable to a Principal Prepayment in Full) and (b) deposit such amounts in the Collection Account.

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. As defined in Section 2.08(b) of the Servicing Agreement.

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