Residual Account definition

Residual Account the account or accounts by that name established and maintained by the Trustee pursuant to Section 3.01.

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Residual Account. The account designated as such in, and established and maintained pursuant to, Section 8.06 of the Indenture.

Residual Account means the Residual Account established and maintained pursuant to Section 7.01 hereof.

Examples of Residual Account in a sentence

The Servicer will be reimbursed for Residual Servicer Advances from funds in the Residual Account in accordance with the Indenture on the second following Payment Date.
The Residual Realizations shall be deposited in the Residual Account for disposition under this Indenture.
Notes remaining outstanding shall be redeemed in full on any Payment Date if the aggregate amounts on deposit in the Collection Account, the Reserve Fund, the Residual Account and the Payahead Account are greater than or equal to the sum of (i) the entire outstanding note principal balance, (ii) the interest accrued thereon, (iii) any accrued and unpaid Servicing Fee (including therein amounts owed to the Indenture Trustee) and (iv) unreimbursed Servicer Advances.
The Servicer shall deposit such payments to the Collection Account or the Residual Account, as applicable, within two Business Days of the receipt thereof.
Borrower represents that as of December 24, 2012 the balance of the Borrower Residual Account is $5,849,499.21.
Within three Business Days after the deposit of such payments and proceeds therein, the Servicer shall transfer all amounts credited to the Servicing Account on account of such payments and proceeds (i) to the extent they constitute Pledged Revenues, to the Collection Account and (ii) to the extent they represent Residual Realizations, to the Residual Account.
The repurchase obligation described in this Section 11.01 is in no way to be satisfied with monies in the Reserve Fund, the Residual Account or the Payahead Account.
The Residual Account, Reserve Fund, and Payahead Account may be sub-accounts of the Collection Account.
The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment (excluding Residual Realizations) in the Collection Account and Residual Realizations in the Residual Account.
Any other amount received by the Servicer from time to time from the Issuer or any Lessee which is or is intended to be subject to the Lien of the Indenture shall be held in trust by the Servicer, as agent for the Trustee and promptly turned over to the Trustee or deposited into the Collection Account or Residual Account, as applicable, for application in accordance with the provisions of the Indenture.

More Definitions of Residual Account

Residual Account means the account or accounts by that name established and maintained by Indenture Trustee pursuant to Section 6.1(a) of the Pooling and Servicing Agreement.

Residual Account has the meaning ascribed to such term in the Escrow Agreement.

Residual Account means an account established and maintained by (and in the name of) ISO to allow Bank to credit funds as provided in Section 6.

Residual Account. The segregated account or accounts created and maintained by the Trustee pursuant to Section 1.05(a) which shall be entitled "State Street Bank and Trust Company, as Trustee, in trust for the registered holders of FDIC REMIC Trust 1996-C1, Commercial Mortgage Pass-Through Certificates, Series 1996-C1".

Residual Account. The account designated as the “Residual Account” established pursuant to the Account Control Agreement (Other Accounts) among the Issuer, the Indenture Trustee, the Servicer, the Back-Up Servicer and the Lock-Box Bank, or any successor commercial bank as set forth in Section 10.2.

Residual Account means a commercial account maintained by ISO/MSP with Bank in ISO/MSP's name as described in Section 5 of this Agreement.