Collection Account definition

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

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

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 the affected Mortgage Loan is to be repurchased, the funds in the amount of the Purchase Price remitted by the Responsible Repurchase Party are to be remitted by wire transfer to the Master Servicer for deposit into the Collection Account.

• As provided in the Pooling and Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and administration of the Trust Fund.

• The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable.

• As provided in the Pooling and Servicing Agreement, the Collection Account and the Distribution Account will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to its Collection Account) or the Certificate Administrator (with respect to the Distribution Account) will be authorized to make withdrawals therefrom.

• Interest or other investment income earned on funds in the Collection Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement.

More Definitions of Collection Account

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

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

Collection Account means the account established and maintained by the Indenture Trustee in accordance with Section 8.02(a) of the Indenture and any subaccounts contained therein.