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).

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Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05 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 CHL Mortgage Pass-Through Trust 2002-7 Mortgage Pass-Through Certificates, Series 2002-7." 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. 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.

Examples of Distribution Account in a sentence

The Certificate Distribution Account initially shall be established with U.S. Bank National Association.
Any Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the distributions referred to above.
The Certificate Distribution Account shall be held in trust for the benefit of the Trust Certificateholders, and shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Certificateholders.
Except as otherwise provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Trust Certificateholders.
If at any time the Certificate Distribution Account ceases to be held at an Eligible Institution, the Owner Trustee shall, if directed to do so by the Transferor in writing, establish a new Certificate Distribution Account at an Eligible Institution and transfer any cash or investments to such new Certificate Distribution Account.

More Definitions of Distribution Account

Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(e) 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 IndyMac INDX Mortgage Loan Trust 2004-AR15, Mortgage Pass-Through Certificates, Series 2004-AR15." 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. 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 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 shall have the meaning set forth in Section 3.6(a).