Impound Collection Accounts definition

Impound Collection Accounts means the two deposit account designated as escrow or agency accounts held or to be established with JPM Chase, styled as follows: Impound Collection Account for PennyMac Corp. Impound Collection Account for PennyMac Operating Partnership, L.P.
Sample 1

Examples of Impound Collection Accounts in a sentence

  • Sellers agree to establish or cause to be established (i) each of the Accounts at Financial Institution on or before the date hereof and (ii) the Impound Collection Accounts and the Income Collection Accounts if and when required by Buyer for the purposes of Sections 12(b)(iii) and/or 12(b)(iv).

Related to Impound Collection Accounts

  • 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.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Collection Accounts As defined in Section 3.10(a).

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

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

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

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

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Finance Charge Account is defined in Section 4.9(a).

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Note Account As defined in the Indenture.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.