Subordination Spread Account Property definition

Subordination Spread Account Property shall have the meaning set forth in the Custody and Pledge Agreement.
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Subordination Spread Account Property has the meaning specified in Section 14.7(a)(ii).
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Examples of Subordination Spread Account Property in a sentence

  • Further, the Seller (and any such transferee) shall include all income earned on the Subordination Spread Accounts and from any and all Subordination Spread Account Property in its (or their) gross income, pro rata, for all such tax purposes.

  • Effective upon Delivery of any Subordination Spread Account Property in the form of physical property, book-entry securities or uncertificated securities, the Custodian shall be deemed to have purchased such Subordination Spread Account Property for value, in good faith, and without notice of any adverse claim thereto.

  • The Custodian hereby acknowledges such transfer and accepts the trust hereunder and shall hold and distribute the Subordination Spread Account Property in accordance with the terms and provisions of this Section 5.

  • It is the intent of the parties that the ----- Subordination Spread Account Property be treated as property of the Seller or, if the Class B Certificates are transferred by the Seller, by the Seller and the transferee thereof in direct proportion to their respective contributions of such property, for all federal, state and local income and franchise tax purposes.

  • It is the intent of the parties that the Subordination Spread Account Property be treated as property of the Seller or, if the Class B Certificates are transferred by the Seller, by the Seller and the transferee thereof in direct proportion to their respective contributions of such property, for all federal, state and local income and franchise tax purposes.

  • Realized losses, if any, on investment of the Subordination Spread Account Property shall be charged first against undistributed investment earnings attributable to the Subordination Spread Account Property and then against the Subordination Spread Account Property.

  • Effective upon Delivery of any Subordination Spread Account Property in the form of Physical Property or book-entry securities, the Class A Agent shall be deemed to have represented that it has purchased such Subordination Spread Account Property for value, in good faith, and without notice of any adverse claim thereto.

  • Investment earnings attributable to the Subordination Spread Account Property shall not be available to satisfy the subordination provisions of this Agreement and shall not otherwise be subject to any claims or rights of the Class A Certificateholders or the Servicer.

  • The holder of this Class A Certificate by virtue of the acceptance hereof assents to the appointment, pursuant to Section 14.7 of the Agreement, of Chemical Bank acting solely as agent, and not as Trustee, for such holder with respect to the Subordination Spread Account and the Subordination Spread Account Property.

  • Each of the Class A Certificateholders, on behalf of itself and its successors and assigns (including, but not limited to, any future Holder of a Class A Certificate) hereby appoints Chemical Bank, acting in its capacity as agent for the purposes of this Section 14.7 and not as Trustee, with respect to the Subordination Spread Account and the Subordination Spread Account Property (the "Class A Agent"), and the Class A Agent hereby accepts such appointment.

Related to Subordination Spread Account Property

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Spread Account means the Spread Account established and maintained pursuant to the Spread Account Agreement.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Spread Account Agreement means the Spread Account Agreement dated as of December 1, 1994, as amended and restated as of May 11, 1998 among the Insurer, the Seller and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Subordination Depletion Date The Distribution Date preceding the first Distribution Date on which the Class A Percentage (determined pursuant to clause (ii) of the definition thereof) equals or exceeds 100%.

  • Class A Cash Collateral Account means an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it shall so qualify, into which all amounts drawn under the Class A Liquidity Facility pursuant to Section 3.5(c), 3.5(d), 3.5(i) or 3.5(m) shall be deposited.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.