The Collection Accounts Sample Clauses

The Collection Accounts. 2.1 The Mortgage Administrator agrees that it shall submit to BACS not later than two (2) Business Days before each Loan Payment Date with respect to the Loans (or at such other time as shall accord with the standard banking practices) a computer input containing instructions specifying the amounts (the "BACS Amounts") to be received by the Collection Accounts Provider from the Borrowers whether under the Direct Debiting Scheme or otherwise and to be credited by the Collection Accounts Provider to the relevant Main Collection Account on such Loan Payment Date with respect to the Loans, and the Collection Accounts Provider agrees with the Issuer, the Trustee and the Mortgage Administrator that, to the extent that such amount is received from the Borrowers by the Collection Accounts Provider (via BACS), it shall credit the relevant Main Collection Account with an amount equal to its respective BACS Amount. The Collection Accounts Provider also agrees to credit to the relevant Main Collection Account other amounts received by it and directed by the Mortgage Administrator to be credited to the Main Collection Account (including, for the avoidance of doubt, amounts transferred to the Main Collection Account from the KMC F Collection Account and the KMC R Collection Account).
The Collection Accounts. Each of the Collection Accounts has been established for the deposit of the amounts representing payments sent by (i) obligors of Receivables, (ii) obligors of Customer Charges and (iii) obligors in respect of amounts not constituting Receivables or Customer Charges (the “Retained Assets”). For the avoidance of doubt, “Retained Assets” shall not include any Receivables Facility Collateral or Joined Party Transaction Collateral.
The Collection Accounts. (a) The Seller owns and has good and marketable title to the Collection Accounts free and clear of any Adverse Claim (other than Permitted Adverse Claims).
The Collection Accounts. As soon as practicable after the Issuance Date (but in any event prior to the receipt by the TrustsRepresentative of any Section 524(g) Share Proceeds), the Trusts’ Representative shall establish and maintain in its name the following accounts, each of which shall be an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trusts: (i) an account designated the “X. X. Xxxxx Liquidated Obligations Account” (such account, the “Liquidated Obligations Account”), (ii) an account designated the “X. X. Xxxxx Contingent Obligations Account” (such account, the “Contingent Obligations Account”) and (iii) if the Trusts’ Representative shall have received a Disposition Direction Notice prior to the Initial Contingent Amount Date, an account designated the “X. X. Xxxxx Holding Account” (such account, the “Holding Account”).
The Collection Accounts. (i) The Borrower has established with each Collection Account Bank one or more Collection Accounts subject, in each case, to a fully executed Collection Account Agreement. The Borrower agrees that the Administrative Agent shall have exclusive dominion and control of each Collection Account and all monies, instruments and other property from time to time on deposit therein. The Borrower shall not make or cause to be made, or have any ability to make or cause to be made, any withdrawals from any Collection Account except as provided in Section 6.01(b)(ii).
The Collection Accounts 

Related to The Collection Accounts

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain an account held in trust (the “Collection Account”), entitled “[ ], as trustee, in trust for the benefit of the Holders of Bayview Financial [ ] Trust Asset Backed Securities, Series [ ].” The Collection Account shall relate solely to the Securities issued by the Trust hereunder, and funds in such Collection Account shall not be commingled with any other monies.