Examples of Residual Account in a sentence
The Servicer shall deposit such payments to the Collection Account or the Residual Account, as applicable, within two Business Days of the receipt thereof.
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, 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.
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.