Note Payment Accounts definition

Note Payment Accounts. Collectively, the Class A Note Payment Account and the Class B Note Payment Account.
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Note Payment Accounts means the following non-interest bearing restricted checking accounts maintained with Administrative Agent separately for each Co-Borrower: o For ABC, Account No. 0000-000-0000, styled "American Business Financial Services, Inc. - Note Payment Account." o For HAC, Account No. 0000-000-0000, styled "American Business Financial Services, Inc. - Note Payment Account." o For ABL, Account No. 0000-000-0000, styled "American Business Financial Services, Inc. - Note Payment Account." which accounts are to be used for (a) Administrative Agent's deposits of proceeds of Borrowings and payments constituting the proceeds of principal from any Collateral (other than regular principal and interest payments on the Mortgage Collateral and Lease Collateral) of the particular Co-Borrower; (b) Administrative Agent's deposits of principal and interest payments for the repayment of Borrowings received from the particular Co-Borrower or for the particular Co-Borrower's account; and (c) only if and when no Event of Default exists unless Administrative Agent has declared in writing that is has been cured or waived, the particular Co-Borrower's withdrawal of proceeds of its Borrowings for the purposes permitted under this agreement and Administrative Agent's transfer from that Note Payment Account to that Co-Borrower's own account (or to a controlled disbursement account maintained by that Co-Borrower with Administrative Agent) or proceeds of sales or other dispositions of released Collateral for that Co-Borrower in excess of its Borrowings borrowed and then outstanding against that released Collateral. The Note Payment Accounts are (and shall continuously be) part of the Collateral for the Obligation. The Note Payment Accounts shall be subject to set off by Administrative Agent. Co-Borrowers shall not have any right to directly withdraw funds from any Note Payment Account, but instead those funds may be Credit Agreement withdrawn or paid out only against the order of any authorized officer of Administrative Agent, although under the circumstances described in clause (c) of the first sentence of this definition and subject to the conditions specified in that clause, Administrative Agent shall use diligent and reasonable efforts to cause Borrowings and excess Collateral proceeds that are received as therein described and that are deposited to the Note Payment Account before 3:00 p.m. on a Business Day to be transferred to an account on which the particular Co-Borrower does have wit...
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Note Payment Accounts. As defined in the Sale and Allocation Agreement.
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Examples of Note Payment Accounts in a sentence

  • As from the date of this Indenture until January 12, 2018, the Paying Agent may with respect to the applicable Note Payment Accounts and the services provided under this Indenture be carrying out a payment service for the purposes of the Payment Services Regulations 2009 (as amended from time to time, the "2009 Regulations").

  • No later than the Closing Date, the Indenture Trustee, for the benefit of the Noteholders and the Securities Insurer, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, and which shall be entitled "Note Payment Account of ________________, as Indenture Trustee, in trust for the _______ Home Loan Asset Backed Notes, Series 200_-_".

  • If a person other than an individual commits an offence under this Act, any of the person’s directors, officers or agents or manda- taries who directs, authorizes, assents to or25 sont remplacés par ce qui suit :71.

  • No later than the Closing Date, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, entitled "Note Payment Account, U.S. Bank National Association, as Indenture Trustee, in trust for the Empire Funding Home Loan Asset Backed Notes, Series 1998-1".

  • No later than the Closing Date, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, entitled "Note Payment Account, U.S. Bank National Association, as Indenture Trustee, in trust for the Empire Funding Home Loan Asset Backed Notes, Series 1998-2".

  • No later than the Closing Date, the Indenture Trustee, for the benefit of the Noteholders and the Securities Insurer, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the “Note Payment Account”), which shall be separate Eligible Accounts and may be interest-bearing, and which shall be entitled “Note Payment Account of , as Indenture Trustee, in trust for the Home Loan Asset Backed Notes, Series 20 - ”.

  • No later than the Closing Date, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, entitled "Note Payment Account, Norwest Bank Minnesota, National Association, as Indenture Trustee, in trust for the Life Financial Home Loan Asset Backed Notes, Series 1997-3".

  • No later than the Closing Date, the Indenture Trustee, for the benefit of the Noteholders and the Securities Insurer, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, and which shall be entitled "Note Payment Account of First Union National Bank, as Indenture Trustee, in trust for the Fremont Home Loan Asset Backed Notes, Series 1999-2".

  • No later than the Closing Date, the Indenture Trustee, for the benefit of the Noteholders and the Securities Insurer, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, and which shall be entitled "Note Payment Account of ________________, as Indenture Trustee, in trust for the _______ Home Loan Asset Backed Notes, Series 199_-_".

  • No later than the Closing Date, the Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with the Indenture Trustee one or more Note Payment Accounts (collectively, the "Note Payment Account"), which shall be separate Eligible Accounts and may be interest-bearing, entitled "Note Payment Account, U.S. Bank National Association, as Indenture Trustee, in trust for the Empire Funding Home Loan Asset Backed Notes, Series 1997-5".

Related to Note Payment Accounts

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

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

  • 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.

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

  • 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.

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

  • 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.

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

  • 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 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.

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

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

  • Note Account As defined in the Indenture.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

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

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

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

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Note Payment Sequence means the application of Interest Proceeds in accordance with the Interest Proceeds Priority of Payments or the application of Principal Proceeds in accordance with the Principal Proceeds Priority of Payments, as applicable, in the following order:

  • 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.

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