The Payment Account. The Indenture Trustee, for the benefit of the Secured Parties, shall establish and maintain in the State of New York or in the city in which the Corporate Trust Office is located, with a Qualified Institution, in the name of the Issuer for the benefit of the Indenture Trustee on behalf of the Secured Parties, a non-interest bearing segregated trust account (the “Payment Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Secured Parties. The Indenture Trustee shall be the entitlement holder of the Payment Account, and shall possess all right, title and interest in all moneys, instruments, securities and other property on deposit from time to time in the Payment Account and the proceeds thereof for the benefit of the Secured Parties. The Payment Account will be established with the Securities Intermediary. Funds on deposit in the Payment Account that are not both deposited and to be withdrawn within two Business Days shall be invested in Permitted Investments, in accordance with a direction from the Issuer pursuant to Section 5.3(e)
The Payment Account. In accordance with this Agreement and the Account Control Agreement, the Collateral Agent shall, on or prior to the Closing Date, establish at the Custodian one (1) segregated trust account, which shall be designated as the “Payment Account”, which shall be maintained by the Borrower with the Custodian in accordance with the Account Control Agreement and which shall be subject to the Lien of the Collateral Agent. The only permitted deposits to or withdrawals from the Payment Account shall be in accordance with the provisions of this Agreement. All funds on deposit in the Payment Account will remain in un-invested.
The Payment Account. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary a separate, non-interest bearing trust account (the "PAYMENT ACCOUNT") entitled "Payment Account, Deutsche Bank National Trust Company, as Indenture Trustee, in trust for the benefit of the Holders of GreenPoint Mortgage Funding Trust 2005-HE1, Asset-Backed Notes, Series 2005-HE1." The Payment Account shall be an Eligible Account. If the existing Payment Account ceases to be an Eligible Account, the Indenture Trustee shall establish a new Payment Account that is an Eligible Account within 10 Business Days and transfer all funds and investment property on deposit in such existing Payment Account into such new Payment Account. The Payment Account shall relate solely to the Notes issued hereunder and funds in the Payment Account shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement. On the Closing Date the Seller shall deposit into the Payment Account and amount equal to the Closing Date Deposit. The Indenture Trustee shall make withdrawals from the Payment Account only for the following purposes:
The Payment Account. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary an account (the “Payment Account”) entitled “Payment Account, [ ], as Indenture Trustee, in trust for the benefit of the Holders of [ ] Home Equity Loan Trust [ ] Home Equity Loan Asset-Backed Notes, Series [ ].” The Payment Account shall be an Eligible Account. If the existing Payment Account ceases to be an Eligible Account, the Indenture Trustee shall establish a new Payment Account that is an Eligible Account within 10 Business Days and transfer all funds and investment property on deposit in such existing Payment Account into such new Payment Account. The Payment Account shall relate solely to the Notes issued under the Indenture and funds in the Payment Account shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement. The Indenture Trustee shall make withdrawals from the Payment Account only for the following purposes:
The Payment Account. (a) The Securities Administrator shall establish and maintain one or more accounts (the "PAYMENT ACCOUNT"), designated "Payment Account of [ - ], as Securities Administrator, f/b/o Luminent Mortgage Trust 200_-_." The Payment Account shall be established as an Eligible Account. All funds required to be deposited in the Payment Account shall be held in trust for the Indenture Trustee until withdrawn in accordance with Section 10.2. The Securities Administrator shall segregate and hold all funds collected and received pursuant to Section 4.24 separate and apart from any of its own funds and general assets. Within five Business Days following any request of the Indenture Trustee, the Securities Administrator shall provide the Indenture Trustee with written confirmation of the existence of such Payment Account.
The Payment Account. (a) The Securities Administrator shall segregate and hold all funds collected and received pursuant to this Agreement separate and apart from any of its own funds and general assets, and shall establish and maintain a Payment Account, in the form of time deposit or demand accounts, titled “Payment Account of , as Securities Administrator, for the benefit of First NLC Securitization Trust 200 - .” The Payment Account shall be established as an Eligible Account. Any funds deposited in the Payment Account shall at all times be insured to the fullest extent allowed by applicable law.
The Payment Account. In accordance with this Agreement and the Account Control Agreement, the Collateral Agent shall, on or prior to the Closing Date, establish at the Securities Intermediary one (1) segregated account, which shall be designated as the “Payment Account”, which shall be maintained by the Borrower with the Securities Intermediary in accordance with the Account Control Agreement and which shall be subject to the Lien of the Collateral Agent. The only permitted deposits to or withdrawals from the Payment Account shall be in accordance with the provisions of this Agreement. All funds on deposit in the Payment Account shall be investable at the direction of the Borrower. The Borrower hereby directs that all funds on deposit in the Payment Account will remain in uninvested.
The Payment Account. (a) The Securities Administrator shall segregate and hold all funds collected and received pursuant to this Agreement separate and apart from any of its own funds and general assets, and shall establish and maintain a Payment Account, in the form of time deposit or demand accounts, titled “Payment Account of Wxxxx Fargo Bank, National Association, as 86 Securities Administrator, for the benefit of FBR Securitization Trust 2005-1.” The Payment Account shall be established as an Eligible Account. Any funds deposited in the Payment Account may be invested, but only in Eligible Investments selected by the Master Servicer. The Master Servicer shall be entitled to all investment income with respect to such investments and shall deposit in the Payment Account promptly any loss on any such investment.
The Payment Account. (a) The Securities Administrator shall segregate and hold all funds collected and received pursuant to this Agreement separate and apart from any of its own funds and general assets, and shall establish and maintain a Payment Account, in the form of time deposit or demand accounts, titled “Payment Account of JPMorgan Chase Bank, National Association, as Securities Administrator, for the benefit of First NLC Trust 2005-1.” The Payment Account shall be established as an Eligible Account. Any funds deposited in the Payment Account shall at all times be insured to the fullest extent allowed by applicable law.
The Payment Account. (a) On the Closing Date, the Trust Administrator shall open and shall thereafter maintain a segregated account held in trust in the name of the Trust Administrator (the “Payment Account”), entitled “Payment Account, [ - ], as Trust Administrator, in trust for Holders of the FBRSI Trust 200 - , Mortgage Backed Securities.” The Payment Account shall relate solely to the Securities issued by the Issuer, and funds deposited in the Payment Account shall not be commingled with any other monies.
