Interest Collections Account definition

Interest Collections Account means the segregated account specified as such in or pursuant to the Account Bank Agreement or such other account as the Security Trustee, the Issuer and the Swap Counterparty may agree to substitute in place thereof.
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Interest Collections Account. Defined in Section 6.4(h).
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Interest Collections Account means the account, denominated in Euro, specified as such in or pursuant to the Account Bank Agreement or such other account denominated in Euro, as the Security Trustee, the Issuer and the Portfolio Swap Counterparty may agree to substitute in place thereof.
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Examples of Interest Collections Account in a sentence

  • On any other date prior to the Enforcement Date, the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.

  • On any other date prior to the Enforcement Date the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.

  • Accounts Interest shall accrue on the Interest Collections Account at a rate of interest as agreed from time to time between the Account Bank, the Swap Counterparty and the Issuer and shall be paid into the Interest Collections Account.

  • If such rates of interest are negative then such amounts shall be deducted from the Principal Collections Account and/or Interest Collections Account (as applicable).

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  • Interest payments due on the Notes will be funded by (a) Swap Premium payments made by the Swap Counterparty under the Credit Default Swap, (b) (during a Repo Existence Period) any Repo Premium payments made by the Repo Counterparty, and (c) interest earned on each of the Principal Collections Account and the Interest Collections Account.

  • Interest payments due on the Notes will be funded by (a) Swap Premium payments (to the extent payable into the Interest Collections Account) made by the Swap Counterparty under the Credit Default Swap and(b) the Collateral Income Proceeds.

  • On any other date prior to the Enforcement Date the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay to the Security Trustee, the Note Trustee and any relevant Operating Creditors any Covered Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.

  • All payments of Swap Premium will, upon receipt, be deposited into the Interest Collections Account unless the Account Bank Interest Rate is negative, in which case a portion of the Swap Premium equal to the absolute value of the Collateral Income Proceeds shall be deposited into the Principal Collections Account and the remainder (if any) deposited into the Interest Collections Account.

  • SecurityAll payments of Swap Premium will, upon receipt, be deposited into the Interest Collections Account unless the Account Bank Interest Rate is negative, in which case a portion of the Swap Premium equal to the absolute value of the Collateral Income Proceeds shall be deposited into the Principal Collections Account and the remainder (if any) deposited into the Interest Collections Account.


More Definitions of Interest Collections Account

Interest Collections Account has the meaning specified in Section 3(a).
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Interest Collections Account means the interest bearing account of the Issuer with the Account Bank so entitled.
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Related to Interest Collections Account

  • 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.

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

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

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales or dispositions attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees, prepayment fees or other amounts received in respect of Loan Assets.

  • Principal Collection Account A Securities 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 prior Lien of the Collateral Agent for the benefit of the Secured Parties.

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

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

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

  • Finance Charge Collections means Collections of Finance Charge Receivables.

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

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Xxxxx Fargo Bank, N.A. as Master Servicer for HSBC Bank USA, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MANA Series 2007-OAR4 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Reallocated Investor Finance Charge Collections means that portion of Group I Investor Finance Charge Collections allocated to Series 1997-1 pursuant to Section 4.10.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Principal Collections means Collections of Principal Receivables.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Final Collection Date means the Business Day following the termination of purchases under this Agreement on which all amounts to which the Purchasers shall be entitled in respect of Purchased Receivables and all other amounts owing to the Administrative Agent and the Purchasers hereunder and under the other Purchase Documents are paid in full.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Reallocated Principal Collections means, with respect to any --------------------------------- Monthly Period, the product of (a) the Principal Allocation Percentage with respect to such Monthly Period, (b) the aggregate amount of Collections in respect of Principal Receivables deposited in the Collection Account for such Monthly Period and (c) the sum of the Class B Floating Percentage and the Collateral Floating Percentage with respect to such Monthly Period.

  • Excess Finance Charge Collections means collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables.

  • Investor Finance Charge Collections means, for any Monthly Period, an amount equal to the aggregate amount of Finance Charge Collections allocated to the Series issued pursuant to this Indenture Supplement pursuant to Section 4.3(a) for all Dates of Processing during such Monthly Period.

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

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