Policy Payments Account Sample Clauses

Policy Payments Account. The separate Eligible ---------------------------------- Account created and maintained by the Trustee pursuant to Section 4.05(c) in the name of the Trustee for the benefit of the Class A-13 Certificateholders and designated "The Bank of New York in trust for registered holders of CWMBS, Inc. Mortgage Pass-Through Certificates, Series 1997-1, Class A-13". Funds in the Class A-13 Policy Payments Account shall be held in trust for the Class A-13 Certificateholders for the uses and purposes set forth in this Agreement.
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Policy Payments Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 5.07(c) in the name of the Trustee for the benefit of the Class II-A-2 Certificateholders and designated “LaSalle Bank National Association, in trust for registered holders of Bear Xxxxxxx Asset Backed Securities I Trust 2004-HE9, Asset-Backed Certificates, Series 2005-HE9, Class II-A-2.” Funds in the Class II-A-2 Policy Payments Account shall be held in trust for the Class II-A-2 Certificateholders for the uses and purposes set forth in this Agreement.
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Policy Payments Account. Section 3.29. Servicing and Administration of the MI Policies...............................................
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Policy Payments Account. (a) If, on the second Business Day prior to the related Payment Date there is not on deposit in the Payment Account an amount sufficient to pay Scheduled Payments on the Class A Bonds due on such Payment Date, the Bond Administrator shall give notice to the Bond Insurer by telephone or telecopy of the amount of such deficiency by 12:00 noon, _____________ time, on such Business Day
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Policy Payments Account. The Indenture Trustee shall establish a separate trust account (the “Policy Payments Account”) titled “The Bank of New York, as Indenture Trustee, in trust for the registered Holders of First Horizon ABS Notes Series 2007-HE1 and the Insurer, and as Paying Agent for the Transferor in respect of the Transferor Interest, as their interests may appear, Series 2007-HE1 Policy Payments Account.” The Policy Payments Account shall be an Eligible Account. The Indenture Trustee shall deposit all Insurance Policy Draw Amounts received by it into the Policy Payments Account immediately following receipt thereof. Amounts on deposit in the Policy Payments Account shall not be invested. On each Payment Date, the Indenture Trustee will withdraw any amounts on deposit in the Policy Payments Account and will deposit such amounts into the Distribution Account for distribution on such Payment Date in accordance with Section 5.01(a) above. If the short-term unsecured debt rating of the depository institution at which the Policy Payments Account is maintained falls below “A-1” by Standard & Poor’s, then within 60 days after such downgrade, the Indenture Trustee shall cause the funds in the Policy Payments Account to be moved to a successor depository institution that satisfies the requirements of the definition of an “Eligible Institution”.
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Policy Payments Account. The Indenture Trustee shall establish a separate trust account (the “Policy Payments Account”) titled “The Bank of New York, as Indenture Trustee, in trust for the registered Holders of First Horizon ABS Notes Series 2006-HE2 and the Insurer, and as Paying Agent for the Transferor in respect of the Transferor Interest, as their interests may appear, Series 2006-HE2 Policy Payments Account.” The Policy Payments Account shall be an Eligible Account. The Indenture Trustee shall deposit all Insurance Policy Draw Amounts received by it into the Policy Payments Account immediately following receipt thereof. Amounts on deposit in the Policy Payments Account shall not be invested. On each Payment Date, the Indenture Trustee will withdraw any amounts on deposit in the Policy Payments Account and will deposit such amounts into the Distribution Account for distribution on such Payment Date in accordance with Section 5.01(a) above.
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Policy Payments Account. 23 SECTION PAGE ------- ----
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Policy Payments Account. The separate Eligible Account created and maintained by the Trust Administrator pursuant to Section 4.07(c) in the name of the Trust Administrator for the benefit of the Class I-A-5 Certificateholders and designated “Xxxxx Fargo Bank, N.A., in trust for registered holders of Credit Suisse First Boston Mortgage Securities Corp., Mortgage Pass-Through Certificates, Series 2005-7, Class I-A-5.” Funds in the Class I-A-5 Policy Payments Account shall be held in trust for the Class I-A-5 Certificateholders for the uses and purposes set forth in this Agreement.
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Policy Payments Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Section 6.12(c) in the name of the Trustee for the benefit of the Class A-5 Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Bear Xxxxxxx Asset Backed Securities I Trust 2005-AC9, Asset-Backed Certificates, Series 2005-AC9, Class A-5.” Funds in the Class A-5 Policy Payments Account shall be held in trust for the Class A-5 Certificateholders for the uses and purposes set forth in this Agreement.
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Related to Policy Payments Account

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

  • Investment of Amounts in Special Payments Account Any amounts on deposit in the Special Payments Account prior to the distribution thereof pursuant to Section 2.4(b) or (c) shall be invested in accordance with Section 2.2(b). Investment Earnings on such investments shall be distributed in accordance with Section 2.4(b) or (c), as the case may be.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Payments to Collection Account On or before the applicable Cut-Off Date, the Servicer shall have instructed all Obligors to make all payments in respect of the Collateral Portfolio directly to the Collection Account; provided that the Servicer is not required to so instruct any Obligor which is solely a guarantor or other surety (or an Obligor that is not designated as the “lead borrower” or another such similar term) unless and until the Servicer calls on the related guaranty or secondary obligation.

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Payment Processing; Allocation; Priority of Payments (i) The Servicer shall post all payments received to Customer accounts as promptly as practicable, and, in any event, substantially all payments shall be posted no later than three (3) Business Days after receipt.

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • CREDITING PAYMENTS; APPLICATION OF COLLECTIONS The receipt of any Collections by Foothill (whether from transfers to Foothill by the Concentration Account or otherwise) immediately shall be applied provisionally to reduce the Obligations outstanding under SECTION 2.1, but shall not be considered a payment on account unless such Collection item is a wire transfer of immediately available federal funds and is made to the Foothill Account or unless and until such Collection item is honored when presented for payment. From and after the Closing Date, Foothill shall be entitled to charge Borrower for 2 Business Days of `clearance' or `float' at the rate set forth in SECTION 2.6(a) or SECTION 2.6(c), as applicable, on all Collections that are received by Foothill (regardless of whether forwarded by the Concentration Account Bank to Foothill, whether provisionally applied to reduce the Obligations under SECTION 2.1, or otherwise). This across-the-board 2 Business Day clearance or float charge on all Collections is acknowledged by the parties to constitute an integral aspect of the pricing of Foothill's financing of Borrower, and shall apply irrespective of the characterization of whether receipts are owned by an Obligor or Foothill, and whether or not there are any outstanding Advances, the effect of such clearance or float charge being the equivalent of charging 2 Business Days of interest on such Collections. Should any Collection item not be honored when presented for payment, then Borrower shall be deemed not to have made such payment, and interest shall be recalculated accordingly. Anything to the contrary contained herein notwithstanding, any Collection item shall be deemed received by Foothill only if it is received into the Foothill Account on a Business Day on or before 11:00 a.m.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

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