First Payment Loan Account definition

First Payment Loan Account. The First Payment Loan Account established pursuant to Section 4.04 hereof.
Sample 1Sample 2Sample 3

Examples of First Payment Loan Account in a sentence

  • The amount on deposit in the First Payment Loan Account shall be invested in Eligible Investments in accordance with the provisions of Section 5.05.

  • Any investment earnings on the First Payment Loan Account will be treated as owned by the Seller and will be taxable to the Seller.

  • Collectively, the Collection Account, the First Payment Loan Account, the Pre-Funding Account and the Distribution Account.

  • The First Payment Loan Account shall be treated as an “outside reserve fund” under applicable Treasury regulations and will not be part of any REMIC.

  • The assets of REMIC V shall include the Mortgage Loans (net of the Prepayment Charges), the Accounts (other than the Net Rate Cap Fund, the Pre-Funding Account, the First Payment Loan Account and the Interest Rate Cap Agreements), any REO Property, and any proceeds of the foregoing.

  • On each Distribution Date, the Trustee shall first apply Available Funds (net of amounts payable from the First Payment Loan Account) in the following order of priority: First, the Trustee shall pay and charge as an expense of REMIC V all expenses of the Trust as specified in Section 5.01(a)(1) for such Distribution Date.

  • The Interest Rate Cap Agreements, the Pre-Funding Account, the First Payment Loan Account, the Prepayment Charges and the Net Rate Cap Fund shall not be assets of any REMIC.

  • On each Distribution Date, the Trustee shall first apply Available Funds (net of amounts in the First Payment Loan Account) in the following order of priority: First, the Trustee shall distribute interest with respect to each of the REMIC III Regular Interests based on the rates described above.

  • On each Distribution Date, the Trustee shall first apply Available Funds (net of amounts in the First Payment Loan Account) in the following order of priority: First, the Trustee shall distribute interest with respect to each of the REMIC IV Regular Interests based on the rates described above, except that interest that accrues on the Class IV-Pool-A and Class IV-Pool-B Interests shall be used to pay principal to the extent described below, such accruals to be done equally between such Interests.

  • On each Distribution Date, the Trustee shall first apply Available Funds (net of amounts payable from the First Payment Loan Account) in the following order of priority: First, the Trustee shall distribute interest with respect to each of the REMIC IV Regular Interests based on the rates described above.

Related to First Payment Loan Account

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • First Payment Date shall have the meaning set forth in Section 5(b)(ii).

  • Loan Account has the meaning set forth in Section 2.10.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Advance Payment Contract means any contract whereby any Credit Party either (a) receives or becomes entitled to receive (either directly or indirectly) any payment (an “Advance Payment”) to be applied toward payment of the purchase price of Hydrocarbons produced or to be produced from Oil and Gas Interests owned by any Credit Party and which Advance Payment is, or is to be, paid in advance of actual delivery of such production to or for the account of the purchaser regardless of such production, or (b) grants an option or right of refusal to the purchaser to take delivery of such production in lieu of payment, and, in either of the foregoing instances, the Advance Payment is, or is to be, applied as payment in full for such production when sold and delivered or is, or is to be, applied as payment for a portion only of the purchase price thereof or of a percentage or share of such production; provided that inclusion of the standard “take or pay” provision in any gas sales or purchase contract or any other similar contract shall not, in and of itself, constitute such contract as an Advance Payment Contract for the purposes hereof.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Custodian Account means an account subject to a Custodian Agreement.

  • Compensating Interest Payment As defined in Section 6.06.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.