Swap Administration Account definition

Swap Administration Account. The separate account created and maintained by the Swap Contract Administrator pursuant to Section 3 with a depository institution in the name of the Swap Contract Administrator for the benefit of the Counterparty, CHL and the Trustee on behalf of the Holders of the Benefited Certificates and designated “The Bank of New York for Countrywide Home Loans, Inc., Deutsche Bank AG, New York Branch and certain registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2007-8”. Funds in the Swap Administration Account shall be held for the Counterparty, CHL and the Trustee on behalf of the Holders of the Benefited Certificates as set forth in this Agreement.
Sample 1Sample 2
Swap Administration Account. The Certificate Swap Administration Account, the Class A-1-B Swap Administration Account or the Class A-2-B Swap Administration Account, as applicable.
Sample 1
Swap Administration Account. Each of the Class A-1-A Swap Administration Account, the Class A-1-B Swap Administration Account, the Class A-2-A Swap Administration Account and the Class A-3 Swap Administration Account, created and maintained by the Swap Contract Administrator pursuant to Section 3 with a depository institution in the name of the Swap Contract Administrator for the benefit of the Counterparty and the Trustee on behalf of the Holders of the related Benefited Certificates and designated “The Bank of New York for Deutsche Bank AG, New York Branch and certain registered Holders of CWALT, Inc., Mortgage Pass-Through Certificates, Series 2007-OA7”. Funds in each Swap Administration Account shall be held for the Counterparty and the Trustee on behalf of the Holders of the related Benefited Certificates as set forth in this Agreement.
Sample 1

Examples of Swap Administration Account in a sentence

  • Funds in the Swap Administration Account shall remain uninvested.

  • In the event that a replacement swap contract cannot be procured, any Swap Termination Payment received from the Counterparty in respect of the termination of the original Swap Contract shall be held in the Swap Administration Account and distributed as provided in Section 4.

  • The Swap Contract Administrator shall establish and maintain a Swap Administration Account into which the Swap Contract Administrator shall deposit or cause to be deposited on the Business Day of receipt, (x) all amounts remitted by the Trustee for payment to the Counterparty pursuant to the Swap Contract and (y) all amounts payable by the Counterparty under the Swap Contract.

  • All funds deposited in the Swap Administration Account shall be held for the benefit of the Counterparty, CHL and the Trustee on behalf of the Holders of the Benefited Certificates until withdrawn in accordance with this Section 3.

  • The Swap Administration Account shall be an "Eligible Account" as defined in the Pooling and Servicing Agreement.

  • The Swap Contract Administrator shall give at least 30 days' advance notice to the Counterparty, CHL and the Trustee of any proposed change of location of the Swap Administration Account prior to any change thereof.

  • The Swap Contract Administrator shall establish and maintain a Swap Administration Account into which the Swap Contract Administrator shall deposit or cause to be deposited on the Business Day of receipt, (x) all amounts remitted by the Trustee for payment to the Counterparty pursuant to the Swap Contract and (y) all amounts payable by the Counterparty under the Swap Contract and by the Guarantor under the Swap Guarantee.

  • Any cash or other Eligible Collateral (as defined in the ISDA Master Agreement) pledged under the ISDA Master Agreement shall not be part of the Swap Administration Account unless they are applied in accordance with the ISDA Master Agreement to make a payment due to the Swap Contract Administrator pursuant to the Swap Contract.

  • The Swap Contract Administrator shall give at least 30 days’ advance notice to the Counterparty, CHL and the Trustee of any proposed change of location of the Swap Administration Account prior to any change thereof.

  • The Swap Administration Account shall be an “Eligible Account” as defined in the Pooling and Servicing Agreement.

Related to Swap Administration Account

  • Administration Account As defined in Section 7.02.

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

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

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • 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.

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

  • Swap Account The account or accounts created and maintained pursuant to Section 4.09. The Swap Account must be an Eligible Account.

  • 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.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Wachovia Bank, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MLMI Series 2005-A1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

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

  • Collection Account Agreement means an agreement in form reasonably acceptable to the Administrative Agent among Buyer, the Administrative Agent and a Collection Bank.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • 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.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

  • Swap Administration Agreement As defined in Section 4.08(b).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

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

  • Account Administrator means the person(s) who have been granted authority by Customer to set up, amend, or otherwise control settings and/or make additional purchases for the Account via the Administrative Portal. Account Administrators may have varying levels of Account rights, skills, or permissions.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Note Account As defined in the Indenture.