Custodial Account definition

Custodial Account. The separate account or accounts created and maintained pursuant to Section 4.04.

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Custodial Account. The custodial account or accounts created and maintained pursuant to Section 3.07 in the name of a depository institution, as custodian for the holders of the Certificates, for the holders of certain other interests in mortgage loans serviced or sold by the Master Servicer and for the Master Servicer, into which the amounts set forth in Section 3.07 shall be deposited directly. Any such account or accounts shall be an Eligible Account.

Custodial Account. Any custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement.

Examples of Custodial Account in a sentence

Each time that the Borrower acquires any Collateral Loan, Eligible Investment or other Collateral, the Borrower shall, if such Collateral Loan or Eligible Investment or other Collateral has not already been transferred to the Custodial Account, transfer or cause the transfer of such Collateral Loan or Eligible Investment and other Collateral to the Custodian to be held for the benefit of the Collateral Agent in accordance with the terms of this Agreement.
Any and all assets or securities at any time on deposit in, or otherwise to the credit of, the Custodial Account shall be held by the Custodian on behalf of and for the benefit of the Collateral Agent for the benefit of the Secured Parties.
So long as no Event of Default has occurred and is continuing, if the Borrower or the Collateral Manager, ‎as applicable, shall not have given any investment directions pursuant to Section 8.2(b) or Sections 8.3(b), (c), (d), or (e), the Collateral ‎Agent shall seek instructions from the Borrower within one Business Day after transfer of such funds to the ‎such Covered Account (except, for the avoidance of doubt, the Custodial Account and the Payment Account).
Except in connection with a liquidation pursuant to Article VI, the only permitted withdrawal from the Custodial Account or in, or otherwise to the credit of, the Custodial Account shall be as directed, upon Borrower Order, in accordance with the provisions of Sections 8.7 and 8.

More Definitions of Custodial Account

Custodial Account. The separate trust account created and maintained pursuant to Subsection 2.04 of the Interim Servicing Agreement (with respect to each Mortgage Loan, as specified therein).

Custodial Account means an account (other than an Insurance Contract or Annuity Contract) for the benefit of another person that holds any financial instrument or contract held for investment (including, but not limited to, a share or stock in a corporation, a note, bond, debenture, or other evidence of indebtedness, a currency or commodity transaction, a credit default swap, a swap based upon a nonfinancial index, a notional principal contract, an Insurance Contract or Annuity Contract, and any option or other derivative instrument).

Custodial Account. The custodial account established pursuant to Section 10.3(b).

Custodial Account. As defined in Subsection 11.04.

Custodial Account. The separate account or accounts created and maintained by the Servicer pursuant to Section 3.03.

Custodial Account. The account or accounts created and maintained by the Servicer pursuant to Section 3.02(b) of the Servicing Agreement, in which the Servicer shall deposit or cause to be deposited certain amounts in respect of the Mortgage Loans.

Custodial Account. The account or accounts created and maintained pursuant to Section 3.4 of this Agreement which account(s) shall be an Eligible Account.