Policy Payments Account definition

Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

Policy Payments Account. The account established pursuant to Section 9.04 hereof.

Policy Payments Account means the account designated as such, established and maintained pursuant to Section 5.1(b) of the Sale and Servicing Agreement.

Examples of Policy Payments Account in a sentence

• Payments due hereunder in respect of Guaranteed Distributions will be disbursed by wire transfer of immediately available funds to the Policy Payments Account established pursuant to the Pooling and Servicing Agreement or, if no such Policy Payments Account has been established, to the Trustee.

• Funds held in the Policy Payments Account shall not be invested by the Trustee and may not be applied to satisfy any costs, expenses or liabilities of the Trustee.

• Amounts paid by the Note Insurer under the Policy shall be deposited by the Trust Collateral Agent into the Policy Payments Account and thereafter into the Note Account for payment to Class A Noteholders on the related Payment Date (or promptly following payment on a later date as set forth in the Policy).

• Payments due hereunder in respect of Scheduled Payments will be disbursed by wire transfer of immediately available funds to the Policy Payments Account established pursuant to the Sale and Servicing Agreement or, if no such Policy Payments Account has been established, to the Trust Collateral Agent.

• Funds held in the Policy Payments Account shall not be invested by the Paying Agent and may not be applied to satisfy any costs, expenses or liabilities of the Paying Agent.

More Definitions of Policy Payments Account

Policy Payments Account. The policy payments account maintained by the Trustee pursuant to Section 12.02(b) hereof. The Policy Payments Account shall be an Eligible Account.

Policy Payments Account. As defined in Section 4.02(b) hereof.

Policy Payments Account. The policy payments account maintained by the Indenture Trustee pursuant to Section 7.02(b) hereof.

Policy Payments Account. The account created and maintained by the Trustee pursuant to Section 12.02 hereof, which shall be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for the registered holders of New Century Home Equity Loan Trust, Series 2005-A, Asset Backed Pass-Through Certificates, Class A-4w and Class A-5w.” The Policy Payments Account must be an Eligible Account.

Policy Payments Account. Not applicable.

Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Insured Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

Policy Payments Account. The account maintained pursuant to Section 4.08(b).