Note Collection Account definition

Note Collection Account means the segregated trust account established and maintained by the Global Agent entitled “Note Collection Account of U.S. Bank National Association, Global Agent for the benefit of the Holders of STACR Debt Notes 2015-HQA2”.

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Note Collection Account means the segregated trust account established and maintained by the Global Agent entitled "Note Collection Account of ▇▇▇▇▇ Fargo Bank, N.A., Global Agent for the benefit of the Holders of Connecticut Avenue Securities, Series 2016-C02."

Note Collection Account has the meaning assigned to such term in Section 4.01.

Examples of Note Collection Account in a sentence

The Issuer shall remit to the Global Agent for deposit in the Note Collection Account the amount of any losses incurred in respect of any such investments out of its own funds, without any right of reimbursement therefor, immediately as realized.
Funds in the Note Collection Account shall not initially be invested in Permitted Investments.
All income and gain realized from any Permitted Investment in the Note Collection Account shall be remitted to the Issuer on each Payment Date.
To the extent that the Issuer requests in writing that funds in the Note Collection Account be invested in Permitted Investments for the period from each remittance date to the related Payment Date, the Global Agent shall invest such amounts in Permitted Investments selected by the Issuer, which shall mature not later than the related Payment Date.
At least two Business Days before each Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw the amount, if any, from the Reserve Account and deposit it in the Exchange Note Collection Account.
The Servicer may direct the Indenture Trustee to withdraw from the Exchange Note Collection Account and pay to the Servicer or as directed by the Servicer amounts that are not Exchange Note Available Funds for a Collection Period or that were deposited in the Exchange Note Collection Account in error.
On the Exchange Note Issuance Date, the Servicer will deposit in the Exchange Note Collection Account an amount equal to the sum of (i) the Cutoff Date Payahead Amount and (ii) all Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases during the period from the Cutoff Date to two Business Days before the Exchange Note Issuance Date.
Pending deposit into the Exchange Note Collection Account, Closed-End Exchange Note Collections may be used by the Servicer at its own risk and for its own benefit and will not be segregated from its own funds.
As additional compensation for performing its obligations under the Servicing Agreement and this Supplement and as reimbursement for costs and expenses incurred in performing its obligations, the Servicer will be entitled to retain for its own account Lease Administration Amounts (or to withdraw and retain Lease Administration Amounts that nevertheless have been deposited in the Exchange Note Collection Account).
On or before each Payment Date, the Indenture Trustee will (as directed by the Servicer under Section 4.6 of the Servicing Supplement) withdraw the Reserve Account Draw Amount for the Payment Date from the Reserve Account and deposit it in the Exchange Note Collection Account.