Collection Account definition

Collection Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

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

Collection Account means the “collection account” or sub-account thereof, established under the Servicing Agreement for the purpose of servicing the Mortgage Loan.

Examples of Collection Account in a sentence

If any payments on the Pool Receivables or other Collections are received by the Seller, the Servicer or an Originator, it shall hold such payments in trust for the benefit of the Administrative Agent, the Purchasers and the other Secured Parties and promptly (but in any event within one (1) Business Day after receipt) remit such funds into a Collection Account.
Subject to Section 7.04, each Lock-Box and Collection Account is in the name of the Seller, and the Seller owns and has good and marketable title to the Collection Accounts (including through novation or otherwise) free and clear of any Adverse Claim.
The Servicer shall not permit funds other than Collections on Pool Receivables and other Supporting Assets to be deposited into any Collection Account.
The Servicer shall not permit any Linked Account to exist with respect to any Collection Account.
The Servicer shall only terminate a Collection Account Bank or close a Collection Account (or a related Lock-Box) with the prior written consent of the Administrative Agent.

More Definitions of Collection Account

Collection Account. As defined in Section 3.10(a).

Collection Account means the account or accounts established and maintained as such pursuant to Section 4.1(a) of the Sale and Servicing Agreement.

Collection Account means the trust account or accounts (including any sub-accounts) created and maintained by the Servicer.

Collection Account means the trust account established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

Collection Account. A separate account established and maintained by the Master Servicer pursuant to Section 4.01.

Collection Account means each concentration account, depositary account, lock-box account or similar account in which any Collections are collected or deposited and which is listed on Exhibit IV.

Collection Account is defined in Section 8.02(a) of the Indenture.