Examples of Servicer Account in a sentence
All payments to the Servicer under this Agreement shall be made by wire transfer to the Servicer Account.
The Backup Servicer Account If a backup servicer is required, the servicer will establish, deposit funds into and maintain a backup servicer account, and the backup servicer will be paid according to the terms of a backup servicing agreement.
The Buyer hereby covenants and agrees that it shall not deliver a Notice of Exclusive Control (as such term is defined in the Collection Account Control Agreement, the Pass-Through Trust Account Control Agreement or the Servicer Account Control Agreement) under the Collection Account Control Agreement, the Pass-Through Trust Account Control Agreement or the Servicer Account Control Agreement unless an Event of Default has occurred and is continuing and has not been waived in writing by Buyer.
Other parties to the transaction may also perform multiple roles, including UBI which, in addition to being the Originator, is also Master Servicer, Account Bank, Cash Manager, Calculation Agent, Initial Senior Notes Subscriber and Initial Junior Notes Subscriber.
Servicer Account: All scheduled monthly payments of principal, interest and other amounts duefrom Customers under the Transferred Promissory Notes are collected on the relevant payment date of each Transferred Promissory Note, either by direct debit from an account of the relevant Customer or by way of bank transfer and credited to an account held by the Servicer (the Servicer Account).