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

• At all times that ▇▇▇▇▇▇ shall have notified any depository bank to transfer funds from the Collection Account to the Lender Payment Account, all payments made to the Collection Account shall be treated as payments to Lender in respect of the Obligations and therefore shall constitute the property of Lender to the extent of the then outstanding Obligations.

• Each Loan Party and its respective employees, agents and Affiliates will, acting as trustee for Lender, receive, as the property of Lender, any monies, checks, notes, drafts or any other payment relating to, or proceeds of, accounts or other Collateral which come into its possession or under its control and promptly upon receipt thereof, will deposit or cause the same to be deposited in a Collection Account, or remit the same or cause the same to be remitted, in kind, to Lender.

• The Issuer shall, prior to the Closing Date, cause the Trustee to establish at the Custodian a single, segregated non-interest bearing account designated as the “Revolver Funding Account.” Upon the purchase of any Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation, funds in an amount equal to the undrawn portion of such obligation may be withdrawn from the Principal Collection Account and deposited by the Trustee in the Revolver Funding Account.

• In connection with all calculations required to be made pursuant to this Indenture with respect to Scheduled Distributions on any Asset, or any payments on any other assets included in the Assets, with respect to the sale of and reinvestment in Collateral Obligations, and with respect to the income that can be earned on Scheduled Distributions on such Assets and on any other amounts that may be received for deposit in the Collection Account, the provisions set forth in this Section 1.3 shall be applied.

• The Issuer shall, prior to the Closing Date, cause the Trustee to establish at the Custodian a single, segregated non-interest bearing account designated as the “Permitted Use Account.” Contributions made as described herein will be deposited into the Permitted Use Account and transferred to the Collection Account for a Permitted Use designated by the Contributor in such written direction; provided that such Permitted Use, once designated, cannot be re-designated to another Permitted Use.

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 shall have the meaning specified in Section 4.02.