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

• The Servicer will at all times, instruct all Obligors to deliver payments on the Pool Receivables to a Collection Account or a Lock-Box.

• 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.

• 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 Group Agents and the other Secured Parties and promptly (but in any event within two (2) Business Day after receipt) remit such funds into a Collection Account.

• The Servicer shall only add a Collection Account (or a related Lock-Box), or a Collection Account Bank to those listed on Schedule II to this Agreement, if the Administrative Agent has received notice of such addition and an executed and acknowledged copy of an Account Control Agreement (or an amendment thereto) in form and substance acceptable to the Administrative Agent from the applicable Collection Account Bank.

• The Servicer shall not permit funds other than Collections on Pool Receivables and other Sold Assets and Seller Collateral to be deposited into any Collection Account.

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 means the account designated as such, and established and maintained pursuant to Section 4.01 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 shall have the meaning specified in Section 4.02.