Interest Collection Account definition
Interest Collection Account. A Securities 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 prior Lien of the Collateral Agent for the benefit of the Secured Parties.
Interest Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-201, which is 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 prior Lien of the Collateral Agent for the benefit of the Secured Parties, which is established and maintained pursuant to Section 8.1(a).
Interest Collection Account has the meaning assigned to such term in Section 8.02(a).
Examples of Interest Collection Account in a sentence
Amounts on deposit in the Revolving Reserve Account will be invested in overnight funds that are Eligible Investments selected by the Servicer pursuant to Section 8.06 and earnings from all such investments will be deposited in the Interest Collection Account as Interest Proceeds.
More Definitions of Interest Collection Account
Interest Collection Account means a sub-account (account number 787456-201 at the Bank) of the Collection Account into which Interest Collections shall be segregated.
Interest Collection Account. The trust account established pursuant to Section 10.2(a) hereof.
Interest Collection Account means a sub-account of the Principal and Interest Account established and maintained pursuant to Section 7.03(a).
Interest Collection Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of Interest Proceeds and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.
Interest Collection Account means the account established pursuant to Section 10.1(b) and described in Section 10.2(a)
Interest Collection Account has the meaning specified in Section 3(a).
Interest Collection Account means the securities account in the name of the Borrower (subject to the lien of the Collateral Agent, for the benefit of the Secured Parties) and titled “Interest Collection Account”, into which Interest Collections shall be segregated.