Policy Payment Account definition

Policy Payment Account. The account maintained pursuant to Section 5.12(b).

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.06(c) in the name of the Trustee for the benefit of the Class A Certificateholders and the Class A Certificate Insurer, and designated "Deutsche Bank National Trust Company in trust for Ambac Assurance Corporation and the registered holders of GSAMP Trust 2002-HE2 Mortgage Pass-Through Certificates, Series 2002-HE2, Class A-1, Class A-2 and Class A-3".

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.06(c) in the name of the Trustee for the benefit of the Class A-3b Certificateholders and the Class A-3b Certificate Insurer, and designated "Deutsche Bank National Trust Company in trust for Financial Security Assurance Inc. and the registered holders of Morgan Stanley ABS Capital I Inc. Trust 2003-HE9, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2004-HE9, Class A-3b".

Examples of Policy Payment Account in a sentence

• Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall be returned to the Certificate Insurer pursuant to the written instructions of the Certificate Insurer by the end of such Business Day.

• Any funds remaining in the Policy Payment Account on the first Business Day following a Payment Date shall be returned to the Insurer pursuant to the written instructions of the Insurer by the end of such Business Day.

• The Indenture Trustee shall deposit upon receipt any amount paid under the Policy into the Policy Payment Account and distribute such amount only for purposes of payment to the Noteholders of the Insured Amount for which a claim was made and such amount may not be applied to satisfy any costs, expenses or liabilities of the Sponsor, the Servicer, the Indenture Trustee or the Trust.

• However, the amount of any payment of principal or interest on the Notes to be paid from funds transferred from the Policy Payment Account shall be noted as provided in subsection (d) of this Section 8.4 and in the Indenture Trustee’s Statement to Noteholders.

• However, the amount of any payment of principal or of interest on the Class A Certificates to be paid from funds transferred from the Policy Payment Account shall be noted as provided in paragraph (d) below and in the statement to be furnished to Holders of such Class of Certificates pursuant to Section 4.02.

More Definitions of Policy Payment Account

Policy Payment Account. As defined in Section 5.04(c) of this Agreement.

Policy Payment Account. The account maintained pursuant to Section 4.08(b). Pool Balance (Non-PO Portion): Any of the Group I Pool Balance (Non-PO Portion) or Group II Pool Balance (Non-PO Portion).

Policy Payment Account. As defined in Section 8.5(c) of the Indenture.

Policy Payment Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Section 5.07 in the name of the Trustee for the benefit of the Holders of the Insured Certificates and the Certificate Insurer, and designated "HSBC Bank USA, National Association, as Trustee, in trust for the registered holders of Ace Securities Corp., Asset-Backed Pass-Through Certificates, Series 2004-HE4, Class A-1 Certificates and Class A-2 Certificates."

Policy Payment Account means the segregated trust account established by the Trustee for the benefit of the Noteholders pursuant to Section 7.2 for payments made with respect to the Notes by or for the account of the Insurer or the Reinsurer (other than payments made as a Purchaser) and all monies, securities, instruments, documents and other property on deposit therein.

Policy Payment Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 4.11 in the name of the Trustee for the benefit of the Class A-1 Certificateholders and the Certificate Insurer, and designated "Xxxxx Fargo Bank, N.A., as Trustee, in trust for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ1, Class A-1 Certificates."

Policy Payment Account. The trust account or accounts created and maintained by the Trust Administrator pursuant to Section 3.31(a) which shall be entitled "Policy Payment Account, Deutsche Bank National Trust Company, as Trust Administrator for the benefit of Wachovia Bank, National Association, as Trustee, in trust for the registered Certificateholders of Long Beach Mortgage Loan Trust 2002-3, Asset-Backed Certificates, Series 2002-3" and which must at all times be an Eligible Account.