The Note Payment Account Sample Clauses

The Note Payment Account. (a) The Indenture Trustee shall establish and maintain on behalf of the Noteholders, the Note Payment Account entitled “Note Payment Account, U.S. Bank National Association, as Indenture Trustee, in trust for Holders of the HomeBanc Mortgage Trust 2005-1, Mortgage Backed Notes.”
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The Note Payment Account. The Securities Administrator shall establish and maintain in the name of the Securities Intermediary for the benefit of the Indenture Trustee and the Noteholders, the Note Payment Account which shall be an Eligible Account. On each Deposit Date, to the extent that the Collection Account is not a sub-account of the Note Payment Account, the Securities Administrator shall withdraw, on behalf of the Indenture Trustee, from the Collection Account the aggregate Available Funds for the related Payment Date for deposit into the Note Payment Account. The Securities Administrator shall also deposit into the Note Payment Account all amounts received on behalf of the Issuer under the Yield Maintenance Agreements. In the event that the Securities Administrator shall remit into the Note Payment Account any amount not required to be remitted by it, it may at any time withdraw such amount from the Note Payment Account, any provision herein to the contrary notwithstanding. All funds deposited in the Note Payment Account shall be held by the Securities Intermediary in trust for the Noteholders, until disbursed in accordance with this Agreement or withdrawn in accordance with Section 5.01. If the Note Payment Account ceases to be an Eligible Account, the Securities Administrator shall establish a new Note Payment Account that is an Eligible Account within 10 days and transfer all funds and investment property on deposit in such existing Note Payment Account into such new Note Payment Account. All funds on deposit in the Note Payment Account may be invested as directed by the Securities Administrator in Permitted Investments in the name of the Securities Intermediary for the benefit of the Indenture Trustee and the Noteholders which shall mature no later than the Payment Date, provided that such Permitted Investment is an obligation of the Securities Administrator or otherwise managed or advised by the Securities Administrator or an affiliate thereof. All income and gain net of realized losses on such investments shall be paid to the Master Servicer as additional master servicing compensation except to the extent that the Collection Account is treated as a sub-account of the Note Payment Account, in which case only investment income earned on the Business Day prior to each Payment Date shall be paid to the Master Servicer as additional servicing compensation and any remaining investment income shall be paid to Xxxxxxxxx in its capacity as Servicer as specified in Section 4.0...
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Related to The Note Payment Account

  • Note Payment Account (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain the Note Payment Account, which shall be an Eligible Account, for the benefit of the Secured Parties. If the Note Payment Account loses its status as an Eligible Account, the funds in such account shall be moved to an account that qualifies as an Eligible Account within thirty (30) days. The Note Payment Account shall be funded to the extent that (i) the Issuer shall remit to the Indenture Trustee the Redemption Amount for a Class of Notes pursuant to Section 13.1, (ii) the Indenture Trustee shall remit thereto any Available Funds from the Collection and Funding Account pursuant to Section 4.2(b), (iii) the Indenture Trustee shall remit thereto any Available Funds from the Interest Accumulation Account, the Target Amortization Principal Accumulation Account and the Fee Accumulation Account pursuant to Section 4.5 and (iv) the Indenture Trustee shall transfer amounts from an applicable Series Reserve Account pursuant to, and to the extent required by, Section 4.6.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Collection Account and Distribution Account (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (each such account or accounts, a “Collection Account”), held in trust for the benefit of the Trustee and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of good funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the related Cut-off Date, or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto):

  • Note Payments The Company agrees that, so long as any Purchaser shall hold any Note, it will make payments of principal of, interest on, and any Yield-Maintenance Amount payable with respect to, such Note, which comply with the terms of this Agreement, by wire transfer of immediately available funds for credit (not later than 12:00 noon, New York City local time, on the date due) to (i) the account or accounts of such Purchaser specified in the Purchaser Schedule attached hereto in the case of any Series A Note, (ii) the account or accounts of such Purchaser specified in the Confirmation of Acceptance with respect to such Note in the case of any Shelf Note or (iii) such other account or accounts in the United States as such Purchaser may from time to time designate in writing, notwithstanding any contrary provision herein or in any Note with respect to the place of payment. Each Purchaser agrees that, before disposing of any Note, it will make a notation thereon (or on a schedule attached thereto) of all principal payments previously made thereon and of the date to which interest thereon has been paid. The Company agrees to afford the benefits of this paragraph 11A to any Transferee which shall have made the same agreement as the Purchasers have made in this paragraph 11A.

  • The Collection Account (a) The Trust Administrator shall establish and maintain in the name of the Notes Intermediary the Collection Account as provided in Section 5.07, which account shall be pledged to the Indenture Trustee for the benefit of the Noteholders.

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Disbursements of Monies from Payment Account (a) Notwithstanding any other provision in this Agreement, but subject to the other subsections of this Section 9.01, on each Payment Date, the Collateral Agent shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 8.02 in accordance with the Payment Date Report and the following priorities (the “Priority of Payments”):

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