Trustee Float Period definition

Trustee Float Period. With respect to the Distribution Date and the related amounts in the Distribution Account, the period commencing on the Business Day immediately preceding such Distribution Date and ending on such Distribution Date.

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Trustee Float Period. With respect to any Distribution Date and the related amounts in each Distribution Account, the period commencing on the Master Servicer Remittance Date, immediately preceding such Distribution Date and ending on such Distribution Date.

Examples of Trustee Float Period in a sentence

• The Trustee may withdraw from the Distribution Account any income or gain earned from the investment of funds deposited therein during the Trustee Float Period for its own benefit.

• As compensation for its activities under this Agreement, the Trustee may withdraw from the Distribution Account on each Distribution Date the Trustee Fee for the Distribution Date and any interest or investment income earned on funds deposited in the Distribution Account during the Trustee Float Period.

• As compensation for its activities under this Agreement, the Trustee may withdraw from the Distribution Account on each Distribution Date the Trustee Fee for the Distribution Date and, during the Trustee Float Period, any interest or investment income earned on funds deposited in the Distribution Account.

• Each Servicer shall also be entitled pursuant to Section 3.11(a)(iv) to withdraw from the related Collection Account, and pursuant to Section 3.07(e), to direct the Trustee to withdraw from the Distribution Account and remit to the applicable Servicer (except for monies invested during the Trustee Float Period), as additional servicing compensation, interest or other income earned on the related portions of deposits therein.

• Each Servicer shall direct the Trustee to withdraw from the Distribution Account and to remit to such Servicer no less than monthly, all income and gain realized from the investment of the portion of funds deposited in the Distribution Account by such Servicer (except during the Trustee Float Period).

• Any investment of funds in an Investment Account (other than investments made during the Trustee Float Period) shall be made in the name of the Servicer.

• The Servicer shall direct the Trustee to withdraw from the Distribution Account and to remit to the Servicer no less than monthly, all income and gain realized from the investment of funds deposited in the Distribution Account (except during the Trustee Float Period).

• The Servicer shall also be entitled pursuant to Section 3.11(a)(iv) to withdraw from the Collection Account, and pursuant to Section 3.07(e), to direct the Trustee to withdraw from the Distribution Account and remit to the Servicer (except for monies invested during the Trustee Float Period), as additional servicing compensation, interest or other income earned on deposits therein on its behalf.

• Any investment of funds in an Investment Account (other than investments made during the Trustee Float Period) shall be made in the name of the applicable Servicer.

• Any investment of funds in an Investment Account (other than investments made during the Trustee Float Period) shall be made in the name of the Trustee in Permitted Investments selected by the applicable Servicer.