Excess Liquidation Proceeds Reserve Account definition

Excess Liquidation Proceeds Reserve Account. The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2018-B2, Commercial Mortgage Pass-Through Certificates, Series 2018-B2, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.
Excess Liquidation Proceeds Reserve Account means the Excess Liquidation Proceeds Reserve Account maintained by the Certificate Administrator in accordance with the provisions of Section 5.3, which shall be a subaccount of an Eligible Account.
Excess Liquidation Proceeds Reserve Account. The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which shall be entitled “Wells Fargo Bank, National Association, in trust for Deutsche Bank National Trust Company, as Trustee, for the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2012-GCJ7 – Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

Examples of Excess Liquidation Proceeds Reserve Account in a sentence

Amounts on deposit in the Distribution Account, the Excess Interest Distribution Account, the Excess Liquidation Proceeds Reserve Account and the Interest Reserve Account (each, a “Certificate Administrator Account”) shall remain uninvested.

An approved site plan shall be revised and approved via the procedures of this ordinance, so as to clearly and completely depict any and all proposed modifications to the previously approved site plan, prior to the initiation of said modifications.

Amounts on deposit in each Distribution Account, the Exchangeable Distribution Account, the Excess Interest Distribution Account, the Excess Liquidation Proceeds Reserve Account and the Interest Reserve Account (each, a “Certificate Administrator Account”) shall remain uninvested.

On each Master Servicer Remittance Date, the Certificate Administrator shall withdraw from the Excess Liquidation Proceeds Reserve Account and deposit in the Lower-Tier REMIC Distribution Account any Excess Proceeds required to be so transferred pursuant to Section 4.01(e) of this Agreement.

Amounts on deposit in each Distribution Account, the Excess Interest Distribution Account, the Excess Liquidation Proceeds Reserve Account and the Interest Reserve Account (each, a “Certificate Administrator Account”) shall remain uninvested.

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Section 3.07 Investment of Funds in the Collection Account, the REO Account, the Interest Reserve Account, the Mortgagor Accounts, the Excess Liquidation Proceeds Reserve Account and Other Accounts..................................

Tier Distribution Account; Lower-Tier Distribution Account; Excess Liquidation Proceeds Reserve Account....................................

Interest Reserve Account, the Mortgagor Accounts, the Excess Liquidation Proceeds Reserve Account and Other Accounts.

The Certificate Administrator shall deposit into the Distribution Account, the Excess Liquidation Proceeds Reserve Account or the TA Unused Fees Reserve Account, as applicable, on the Business Day received all moneys remitted by the Master Servicer pursuant to this Agreement, including P&I Advances made by the Master Servicer and the Trustee, payments of Compensating Interest made by the Master Servicer and all Excess Liquidation Proceeds.


More Definitions of Excess Liquidation Proceeds Reserve Account

Excess Liquidation Proceeds Reserve Account. The account, accounts or subaccount created and maintained by the Trustee, which may be a subaccount of the Distribution Account, pursuant to Section 3.04(d) in trust for the Certificateholders, which shall be entitled "Wells Fargo Bank Minnesota, N.A., as Trustee, for the benefit of Holders of GE Capital Commercial Mortgage Corporation, Mortgage Pass-Through Certificates, Series 2002-1, Excess Liquidation Proceeds Reserve Account." Any such account shall be an Eligible Account. The Excess Liquidation Proceeds Account shall be an asset of the Lower-Tier REMIC.
Excess Liquidation Proceeds Reserve Account. The trust account or subaccount created and maintained by the Trustee pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which shall be entitled “[_____], in trust for [______], as Trustee, for the registered holders of Barclays Commercial Mortgage Securities LLC, Commercial Mortgage Pass-Through Certificates, Series 20[__]-[__] – Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.
Excess Liquidation Proceeds Reserve Account. The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “[Certificate Administrator], as Certificate Administrator, on behalf of [trustee], as Trustee, for the benefit of the registered Holders of [__________________], Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.
Excess Liquidation Proceeds Reserve Account. The account, accounts or subaccount created and maintained by the Trustee, which may be a subaccount of the Distribution Account, pursuant to Section 3.04(d) in trust for the Certificateholders, which shall be entitled "Wells Fargo Bank Minnesota, N.A., as Trustee, for the benefit of Holders of Credit Suisse First Boston Mortgage Securities Corp., Mortgage Pass-Through Certificates, Series 2001-CF2, Excess Liquidation Proceeds Reserve Account." Any such account shall be an Eligible Account. The Excess Liquidation Proceeds Account shall be an asset of the Lower-Tier REMIC (other than with respect to the Loan REMIC Loans), and with respect to the ACCOR-California South Loan REMIC and the 730 North Michigan Avenue Loan REMIC shall be "outside reserve funds" beneficially owned by the Holders of the Class LR Certificates and the Class R-730 Certificate, respectively, who shall be treated as the beneficial owners thereof for federal income tax purposes and taxable on all reinvestment income thereon, and (notwithstanding that such funds are to be held for the benefit of the Holders of the Regular Certificates until the termination of the Trust Fund pursuant to Section 9.01 hereof) to whom any distribution of Excess Liquidation Proceeds from the respective Loan REMIC shall be deemed to be made.

Related to Excess Liquidation Proceeds Reserve Account

Excess Liquidation Proceeds With respect to any Mortgage Loan (and with respect to any Non-Serviced Mortgage Loan only the pro rata share of such proceeds allocated to the Trust pursuant to the terms of the related Intercreditor Agreement) or Serviced Companion Loan, the excess of (i) Net Liquidation Proceeds of such Mortgage Loan, Serviced Companion Loan or related Serviced REO Property, over (ii) the amount that would have been received if a principal payment and all other amounts due in full had been made with respect to such Mortgage Loan or Serviced Companion Loan on the Due Date immediately following the date on which such proceeds were received.
Net Liquidation Proceeds With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.
Reserve Account Draw Amount means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to (i) the lesser of (a) the Available Funds Shortfall Amount, if any, or (b) the amount on deposit in the Reserve Account or (ii) after the occurrence of an Indenture Default that results in the acceleration of any Notes, unless and until the date on which such acceleration has been rescinded, the entire amount on deposit in the Reserve Account. In addition, except in the circumstances described in clause (ii) of this definition, the sum of the amounts in the Reserve Account and the remaining Available Funds after the payments under clauses (ii) and (iii) of Section 8.04(a) of the Indenture would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Notes, then the Reserve Account Draw Amount will, if so specified by the Servicer in the Payment Date Certificate, include such additional amounts as may be necessary to pay all Outstanding Notes in full.
Interest Reserve Account The trust account or subaccount of the Distribution Account created and maintained by the Certificate Administrator pursuant to Section 3.04(b) initially in the name of “Wells Fargo Bank, National Association, as Certificate Administrator on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities Trust 2020-GC47, Commercial Mortgage Pass-Through Certificates, Series 2020-GC47, and the RR Interest Owner, Interest Reserve Account”, into which the amounts set forth in Section 3.21 shall be deposited directly and which must be an Eligible Account or subaccount of an Eligible Account.
Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.
Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.
Debt Service Reserve Account means the Debt Service Reserve Account established pursuant to the General Resolution.
Legal Fee Reserve Account The account created and maintained by the Certificate Administrator pursuant to Section 3.04(b), in the name of the “Legal Fee Reserve Account”, into which the amounts set forth in Section 3.04(b) shall be deposited directly and which must be an Eligible Account.
Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.