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

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.

Examples of Servicer Account in a sentence

Instructions to Servicer in respect of the Servicer Account may be set forth in the Servicer Notice.
In addition, the Servicing Agreement shall require that the Servicer deposit all collections of Income (other than amounts deposited in escrow accounts pursuant to the Servicing Agreement and the related Purchased Asset Documents and Mezzanine Loan Documents, as applicable) received by Servicer on account of the Purchased Assets and Contributed Mezzanine Loans in the Servicer Account no later than two (2) Business Days following receipt and into the Deposit Account on each Servicer Remittance Date.
Neither Seller nor any Person claiming through or under Seller shall have any claim to or interest in the Servicer Account except as expressly provided in the Repurchase Documents, and no rights of withdrawal from, or rights to give notices or instructions regarding, the Waterfall Account.
Seller shall have no rights in any Buyer’s account and no rights of withdrawal from, or rights to give notices or instructions regarding any Buyer’s account, the Waterfall Account or the Servicer Account.
Amounts payable to Buyer and not otherwise required to be deposited into the Servicer Account for deposit into the Waterfall Account or directly into the Waterfall Account, as applicable, shall be deposited into an account of Buyer.

More Definitions of Servicer Account

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.

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

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 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 the account created and maintained pursuant to Section 5.7.

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 shall have the meaning specified in the Servicing Agreement.