Definition of Portfolio Collections


Portfolio Collections means, with respect to each Portfolio, the funds collected on the related Portfolio Mortgage Loans and allocated as the servicing compensation payable to the Company as servicer of such Portfolio Mortgage Loans pursuant to one or more Servicing Agreements and Agency Guides, and, for the avoidance of doubt, other than Ancillary Income or reimbursements received by the Company from a loan owner for advances and other out-of-pocket expenditures pursuant to such Servicing Agreements and Agency Guides.
Sample 1

Examples of Portfolio Collections in a sentence

With respect to each Secondary Portfolio, the Seller shall deposit into the Secondary Portfolio Spread Custodial Account from time to time any and all Secondary Portfolio Collections received on or after the Transaction Settlement Date, in each case within one Business Day following receipt and identification thereof and in any event within three Business Days following receipt thereof.
The Seller shall not pledge, obtain financing for or otherwise permit any Lien of any creditor of the Seller to exist on, any portion of the Secondary Portfolio Collections or the Sellers interest in the Secondary Portfolio Spread Custodial Account without the prior written consent of the Purchaser.
With respect to each Primary Portfolio, the Seller shall deposit into the Primary Portfolio Spread Custodial Account from time to time any and all Primary Portfolio Collections received on or after the Transaction Settlement Date, in each case within two (2) Business Days following receipt thereof.
With respect to each Primary Portfolio, the Seller shall deposit into the Primary Spread Custodial Account from time to time any and all Primary Portfolio Collections received on or after the Transaction Settlement Date, in each case within three (3) Business Days following receipt thereof.
With respect to each Secondary Portfolio, the Seller shall deposit into the Secondary Portfolio Spread Custodial Account from time to time any and all Secondary Portfolio Collections received on or after the Transaction Settlement Date, in each case within three (3) Business Days following receipt thereof.