Settlement Account Distribution definition

Settlement Account Distribution means the Initial Settlement Account Distribution and each Subsequent Settlement Account Distribution (as applicable).
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Examples of Settlement Account Distribution in a sentence

  • Subject to Clause 5.1.4 ( Payments to the WEIF), not later than 5 Business Days after the Group Payment Date, LFSL shall pay the full amount standing to the credit of the Settlement Account to the WEIF by way of electronic transfer (such payment being the "Initial Settlement Account Distribution").

  • On the date that the electronic transfer instruction is given by LFSL to the Settlement Account Bank for the payment of a Settlement Account Distribution such Settlement Account Distribution shall be deemed to be paid and LFSL shall have no further Liability for such payment.

  • With effect from the Initial Settlement Distribution Date, LFSL shall, whenever it determines, acting reasonably, that it has sufficient funds in the Settlement Account, instruct the Settlement Account Bank to pay the full amount standing to the credit of the Settlement Account to the WEIF by way of electronic transfer (each payment being a " Subsequent Settlement Account Distribution").

  • In its capacity as ACD of the WEIF, LFSL will use its reasonable endeavours to ensure that the WEIF announces and makes a distribution to its Shareholders ( pro rata to the value of each Shareholder's holdings in the WEIF as at the time of the distribution) in the amount of the Settlement Account Distribution, as soon as reasonably practicable and in any event within 20 Business Days of the WEIF's receipt of the relevant Settlement Account Distribution.

  • Payments of the Settlement Account Distribution from the WEIF will be made in the same manner as Capital Distributions have been made in the course of winding up the WEIF, that is proportionally amongst investors according to the number and class of shares they hold in the WEIF.

  • The WEIF must make a distribution to the shareholders within 20 Business Days after receipt of the Initial Settlement Account Distribution.

Related to Settlement Account Distribution

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

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

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Relevant Distribution Date With respect to (a) any Significant Obligor with respect to the Trust, the Distribution Date, and (b) any Significant Obligor with respect to an Other Securitization Trust, the “Distribution Date” (or an analogous concept) under the related Other Pooling and Servicing Agreement.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Settlement Funds means Standard Settlement Funds and Maximizing Settlement Funds.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Investment Account As defined in Section 3.12(a).

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

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • First Distribution Date Initial Certificate Principal Balance of this May 27, 2003 Certificate as of the Cut-off Date: $___________ Master Servicer: Wells Fargo Bank Mixxxxxta, National Association CUSIP: ___________ Assumed Final Distribution Date: ___________ ASSET-BACKED CERTIFICATE SERIES 2003-AC2 This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer, the Trustee or the Securities Administrator referred to below or any of their affiliates or any other person. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer, the Trustee or the Securities Administrator or any of their affiliates or any other person. None of Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced hereby in the beneficial ownership interest of Certificates of the same Class as this Certificate in a trust (the "Trust Fund") generally consisting of conventional first lien, fixed rate mortgage loans secured by one- to four- family residences, units in planned unit developments and individual condominium units (collectively, the "Mortgage Loans") sold by Bear Stearns Asset Backex Xxxxxities, Inc. ("BSABS"). The Mortgage Loans were sold by EMC Mortgage Corporation

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.