Servicer Account definition

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 deposit account in the name of the Initial Servicer with Bank of America, N.A., account number 000000000000, or an account agreed by the Trustees to be the successor thereto.

Examples of Servicer Account in a sentence

  • The Master Servicer shall keep and maintain separate accounting (to the extent provided to it by each Servicer), on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any payment to and from the Master Servicer Account.

  • No later than 21 days after each Distribution Date, the Master Servicer shall, upon written request, forward to the Depositor and the Securities Administrator, a statement setting forth the balance of the Master Servicer Account as of the close of business on the last day of the month of the Distribution Date and showing, for the one calendar month covered by the statement, any deposits and or withdrawals from the Master Servicer Account.

  • In such event, the legal expenses and costs of such action and any liability resulting therefrom, shall be liabilities of the Trust, and the Master Servicer shall be entitled to be reimbursed therefor out of the Master Servicer Account in accordance with the provisions of Section 9.07 and Section 9.12.

  • The Master Servicer shall be entitled to reimburse itself for any such indemnified amount from funds on deposit in the Master Servicer Account.

  • The amounts remitted by the Servicers to the Master Servicer on each Servicer Remittance Date shall be credited to the Master Servicer Account.


More Definitions of Servicer Account

Servicer Account means the account created and maintained pursuant to Section 5.7.
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 for the benefit of Buyer pursuant to the Servicing Agreement, account number 4626919906, and pledged to Buyer hereunder.
Servicer Account means any account established by a Servicer or a PSA Servicer in connection with the servicing of the Mortgage Asset.
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.