Servicing Account definition

Servicing Account. The account or accounts created and maintained pursuant to Section 3.09.

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Servicing Account. The separate Eligible Account or Accounts created and maintained pursuant to Section 3.06(b).

Servicing Account. The separate trust account created and maintained by the Master Servicer or each Subservicer with respect to the Mortgage Loans or REO Property, which shall be an Eligible Account, for collection of taxes, assessments, insurance premiums and comparable items as described in Section 3.08 of the Servicing Agreement.

Examples of Servicing Account in a sentence

• As part of its servicing duties, the Master Servicer shall pay or cause to be paid to the related Mortgagors interest on funds in Servicing Accounts, to the extent required by law or the terms of the related Mortgage Loan or Companion Loan; provided, however, that in no event shall the Master Servicer be required to remit to any Mortgagor any amounts in excess of actual net investment income or funds in the related Servicing Account.

• Interest and investment income realized on funds deposited in the REO Account or any Servicing Account maintained by or for the Special Servicer, to the extent of the Net Investment Earnings, if any, with respect to such account for each period from and including any Distribution Date to and including the immediately succeeding P&I Advance Date, shall be for the sole and exclusive benefit of the Special Servicer and shall be subject to its withdrawal in accordance with Section 3.14(c).

• Any Servicing Account related to a Serviced Whole Loan shall be held for the benefit of the Certificateholders and the related Serviced Companion Noteholders collectively, but this shall not be construed to modify the respective interests of any noteholder therein as set forth in the related Intercreditor Agreement.

More Definitions of Servicing Account

Servicing Account. Any account established and maintained by the Servicer with respect to the related Mortgage Loans and any REO Property, pursuant to the terms of the Servicing Agreement.

Servicing Account shall have the meaning assigned thereto in Section 3.03(a).

Servicing Account. As defined in Section 3.05 hereof.

Servicing Account. The Servicing Account established and maintained by the Servicer in accordance with Section 6.15 hereof. The Servicing Account, and amounts deposited therein, shall not constitute part of the Trust Fund and Certificateholders shall have no rights thereto.

Servicing Account. The account created and maintained pursuant to Section 5.09.

Servicing Account. As defined in Section 2.08(b) of the Servicing Agreement.

Servicing Account means any of the accounts established and maintained pursuant to Section 3.03(a).