Distribution Account definition
Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).
Distribution Account. The separate Eligible Account created and maintained by the Securities Administrator, on behalf of the Trustee, pursuant to Section 4.01. Funds in the Distribution Account (exclusive of any earnings on investments made with funds deposited in the Distribution Account) shall be held in trust for the Trustee and the Certificateholders for the uses and purposes set forth in this Agreement.
Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05(d) in the name of the Trustee for the benefit of the Certificateholders and designated “The Bank of New York in trust for registered holders of Alternative Loan Trust 2007-OA10, Mortgage Pass-Through Certificates, Series 2007-OA10.” Funds in the Distribution Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
Examples of Distribution Account in a sentence
No checks shall be issued, printed or honored with respect to the Collection Account, the Reserve Account or the Principal Distribution Account.
No checks shall be issued, printed or honored with respect to the Principal Distribution Account.
The Trust Accounts currently existing under the Indenture are the Reserve Account, the Collection Account and the Principal Distribution Account maintained and held at the Securities Intermediary by the Issuer in the name of the Secured Party, subject to the first priority security interest of the Secured Party for the benefit of the Noteholders in the Trust Accounts granted by the Issuer to the Secured Party to secure payment of the Notes.
More Definitions of Distribution Account
Distribution Account. Collectively, the Lower-Tier REMIC Distribution Account and the Upper-Tier REMIC Distribution Account, each of which may be subaccounts of a single Eligible Account.
Distribution Account means an account established at a Banking Institution designated by the Fund in Special Instructions.
Distribution Account. The account established and maintained by the Certificate Administrator pursuant to Section 3.5.
Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.5 in the name of the Trustee for the benefit of the Certificateholders and designated “The Bank of New York, in trust for registered Holders of First Horizon Asset Securities Inc. Mortgage Pass-Through Certificates, Series 2006-AR4.” Funds in the Distribution Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
Distribution Account is defined in Section 4.9(a).
Distribution Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.
Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.07(d) in the name of the Trustee for the benefit of the Certificateholders and designated "Deutsche Bank National Trust Company in trust for registered holders of Securitized Asset Backed Receivables LLC Trust 2006-WM3 Mortgage Pass-Through Certificates, Series 2006-WM3." Funds in the Distribution Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.