Collection Account Bank definition

Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.
Collection Account Bank means the bank holding the Collection Account.

Examples of Collection Account Bank in a sentence

  • Payments by Funding Circle Borrowers in respect of amounts due under the Purchased Loan Receivables are required to be made into a segregated account held in the name of the Servicing and Collection Agent with the Collection Account Bank for the sole purpose of holding funds to which the Issuer is beneficially entitled (the “Collection Account”).

  • On or before the Closing Date, the Seller will provide the Global Collection Account Bank with an account mandate authorising the Servicer to transfer monies that are identified as being referable to the Mortgage Portfolio from the Global Collection Account at the end of each Business Day (to the extent that the Global Collection Account Bank does not undertake such task automatically) into the General Transaction Collection Account.

  • The Servicer will, on each Business Day, direct the Collection Account Bank to transfer to the Payment Account, no later than 3:00 p.m., any cleared funds standing to the credit of the Collection Account at such time, except that the Servicer shall not, in respect of the Collection Account, give any such direction if it would cause the Collection Account to become overdrawn.

  • If the Collection Account Bank (where it is not also the Servicer) fails to comply with such directions, the Servicer shall, so far as it is able, take all such reasonable administrative actions as are reasonable to ensure compliance by the Collection Account Bank with its obligations under the Mortgage Servicing Agreement and the collection account mandate (to the extent applicable).

  • Climate Focused Bond Fund’s investment objective is total return.


More Definitions of Collection Account Bank

Collection Account Bank means, with respect to each Non-Marriott Property, the collection bank for such Individual Property and any successor bank hereafter selected by each applicable Borrower which owns such Individual Property and approved by Lender in accordance with each Collection Account Agreement.
Collection Account Bank means the financial institution at which the Collection Account is maintained.
Collection Account Bank means any bank or other financial institution at which one or more Collection Accounts are maintained.
Collection Account Bank means any bank holding a Collection Account which will be an Eligible Institution appointed by the Company.
Collection Account Bank as defined in the Security Agreement.
Collection Account Bank shall have the meaning ascribed to it in Section 3.01(a).