Collection Account definition

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

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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 Collection Account and the Pledged Accounts described in Section 10.3(a) through (e) and in Section 10.3(i) have been established on or before the First Refinancing Date and the Hedge Counterparty Collateral Account will be established no later than the time of entry by the Issuer into a Hedge Agreement.
In addition, the Issuer may, but under no circumstances shall be required to, deposit or cause to be deposited from time to time such monies received from external sources in the Collection Account as it deems, in its sole discretion, to be advisable.
Any income earned on amounts deposited in the Contribution Account shall be deposited in the Interest Collection Account as Interest Proceeds.
The Collateral Trustee shall immediately upon receipt deposit in the Interest Collection Account or the Principal Collection Account, as applicable, all funds and property received by the Collateral Trustee and (x) designated for deposit in the Collection Account or (y) not designated under this Indenture for deposit in any other Pledged Account, including all Proceeds (unless simultaneously reinvested in Underlying Assets or in Eligible Investments).
On the Determination Date related to the first Payment Date following the First Refinancing Date, all amounts on deposit in the Interest Reserve Account shall be transferred to the Collection Account as Interest Proceeds or Principal Proceeds (as directed by the Asset Manager) for the related Payment Date, in each case for application pursuant to the Priority of Payments.

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.