Servicer Account definition

Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

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Servicer Account. The segregated, non-interest bearing account, created and maintained at Deposit Account Bank pursuant to the Servicing Agreement, which shall be in Servicer’s name on behalf of Buyer pursuant to the Servicing Agreement and/or the related Servicer Notice.

Servicer Account means the account maintained by the Servicer pursuant the Servicing Agreement into which Income with respect to the Purchased Assets is deposited in accordance with the Servicing Agreement.

Examples of Servicer Account in a sentence

• Amounts payable to Buyer and not otherwise required to be USActive 62941057.3 -41- 165607677_2 deposited into the Servicer Account shall be deposited into an account of Buyer (including the Waterfall Account).

• Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding ▇▇▇▇▇’s account or the Waterfall Account or the Servicer Account.

• Seller shall, or shall cause the Servicer to, irrevocably instruct and cause the Underlying Obligors under the Purchased Assets and all other applicable Persons to, remit all Income in respect of the Purchased Assets to Servicer for deposit by Servicer into the Servicer Account, and shall cause Servicer to transfer such Income into the Waterfall Account in accordance with Section 5.01 hereof on the day the related payments are due.

More Definitions of Servicer Account

Servicer Account. Any account established by a Servicer or a PSA Servicer in connection with the servicing of the Purchased Assets.

Servicer Account shall have the meaning specified in the Servicing Agreement.

Servicer Account means the deposit account in the name of the Initial Servicer with Bank of America, N.A., account number ▇▇▇▇▇▇▇▇▇▇▇▇, or an account agreed by the Trustees to be the successor thereto.

Servicer Account means the account created and maintained pursuant to Section 5.7.

Servicer Account means the bank account specified in the Lender Wire Instructions Direction as such bank account may be updated from time to time after the Agreement Date by delivery by the Servicer to the SPV of updated bank account information on a form substantially similar to the Lender Wire Instructions Direction.

Servicer Account means with respect to Purchased Mortgage Loans and Contributed Assets serviced by any Subservicer, the account as identified in the related Servicing Agreement into which the Servicer deposits Income and related collections.

Servicer Account. Any account established and maintained for the benefit of the Master Servicer or the Trust by each Servicer with respect to the related Mortgage Loans and any REO Property, pursuant to the terms of the respective Servicing Agreement.