Transfer Deposit definition

Transfer Deposit means, in respect of a day, the funds deposited or required to be deposited into the Collection Account on the day (i) by the Seller in respect of the purchase by the Seller of a Series subject to purchase pursuant to an incorrect representation and warranty; and (ii) by a Person specified in a Series Purchase Agreement as being a Person who is entitled or required to make a Transfer Deposit on the day, and shall mean (x) in respect of any period of days, all such amounts received by the Servicer during such period; and (y) in respect of any Business Day, all such amounts received by the Servicer before the close of business on such day and after the close of business on the immediately preceding Business Day.
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Transfer Deposit means, in respect of a day, the funds deposited or required to be deposited into the Collection Account on the day (a) by the Seller pursuant to Section 2.5(4) in respect of the purchase by the Seller of a Series subject to purchase pursuant to Section 2.5(3), and (b) by a Person specified in a Series Purchase Agreement as being a Person who is entitled or required to make a Transfer Deposit on the day, and shall mean (i) in respect of any period of days, all such amounts received by the Servicer during such period, and (ii) in respect of any Business Day, all such amounts received by the Servicer before the close of business on such day and after the close of business on the immediately preceding Business Day.
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Transfer Deposit means lesser of the following refundable amounts:
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Examples of Transfer Deposit in a sentence

  • If a Transfer Deficiency results, the Sponsor shall substitute an Eligible Substitute Mortgage Loan for the related Mortgage Loan within five Business Days of notification of the Transfer Deficiency by the Indenture Trustee or, if unable to effect this substitution, deposit into the Collection Account the Transfer Deposit Amount in immediately available funds equal to the Transfer Deficiency (or effect a combination of substitution and deposit).

  • The Master Servicer shall determine the Transfer Deposit Amount in any Collection Period during which the Sponsor substitutes Eligible Substitute Mortgage Loans and the Sponsor shall deposit that amount in the Collection Account at the time of substitution.

  • Any such deposit of such Purchase Price into the Collection Account shall be considered a Transfer Deposit Amount and shall be applied in accordance with the terms of this Agreement.

  • The sole remedy of the Secured Parties, the Transferor, the Owner Trustee, and the Indenture Trustee against the Sponsor for the transfer of a Defective Mortgage Loan to the Trust is the Sponsor's obligation to accept a transfer of a Defective Mortgage Loan and to convey an Eligible Substitute Mortgage Loan or to make a deposit of any Transfer Deposit Amount into the Collection Account in accordance with Section 2.07.

  • If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount").

  • Such reduction or substitution and the actual payment of any Transfer Deposit Amount, if any, shall be deemed to be payment in full for such Mortgage Loan.

  • Upon reassignment of any such Receivable, but only after payment by the Seller of the Transfer Deposit Amount, if any, the Trust shall automatically and without further action be deemed to sell, transfer, assign, set over and otherwise convey to the Seller, without recourse, representation or warranty, all the right, title and interest of the Trust in and to such Receivable, all Collateral Security and all moneys due or to become due with respect thereto and all proceeds thereof.

  • The obligation of the Seller to accept a reassignment of any such Receivable and to pay any related Transfer Deposit Amount shall constitute the sole remedy respecting the event giving rise to such obligation available to Certificateholders (or the Trustee on behalf of Certificateholders).

  • Each Notice of Substitution shall specify the Loan to be substituted, the reasons for such substitution and the Transfer Deposit Amount with respect to the Loan.

  • Any amount deposited into the Collection Account in connection with the reassignment of an Ineligible Receivable shall be considered a Transfer Deposit Amount and shall be applied in accordance with Article IV and the terms of each Supplement.


More Definitions of Transfer Deposit

Transfer Deposit. Amount which amount shall be deposited by the Seller in the Collection Account at the time of substitution. All amounts received in respect of the Eligible Substitute Mortgage Loan or Loans during the Collection Period in which the circumstances giving rise to such substitution occur shall not be a part of the Trust Fund and shall not be deposited by the Master Servicer in the Collection Account. All amounts received by the Master Servicer during the Collection Period in which the circumstances giving rise to such substitution occur in respect of any Defective Mortgage Loan so removed by the Trust Fund shall be deposited by the Master Servicer in the Collection Account. Upon such substitution, the Eligible Substitute Mortgage Loan or Loans shall be subject to the terms of this Agreement in all respects, and pursuant to the Purchase Agreement, the Seller shall be deemed to have made with respect to such Eligible Substitute Mortgage Loan or Loans, as of the date of substitution, the covenants, representations and warranties set forth in Section 2.04. The procedures applied by the Seller in selecting each Eligible Substitute Mortgage Loan shall not be materially adverse to the interests of the Trustee, the Certificateholders and the Credit Enhancer.
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Transfer Deposit means County Reimbursement Costs for considering and reviewing Franchisee request for transfer, investigating the suitability of the transferee, or determining whether or not to give consent to the transfer, including fees of consultants and attorneys necessary to analyze the application and to prepare the documents to effectuate the Transfer as well as County staff costs.
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Transfer Deposit. ’ means, in respect of a day, the funds deposited or required to be deposited into the Collection Account on the day (i) by the Seller in respect of the purchase by the Seller of a Series subject to purchase pursuant to an incorrect representation and warranty; and (ii) by a Person specified in a Series Purchase Agreement as being a Person who is entitled or required to make a Transfer Deposit on the day, and shall mean
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Related to Transfer Deposit

  • Transfer Deposit Amount has the meaning given to it in Section 2.02(b).

  • transfer day means Monday – Friday, to 7:00 p.m., Central Time. Holidays are not included.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Reais Transfer Date means each Business Day of each calendar month following a Business Day when, as of the Balance Transfer Time for the Bond Administrator, there are available funds in the Collections Account for allocation in accordance with the Indenture.

  • Cash Deposit means a cash security deposit in U.S. dollars held by AT&T-21STATE.