Transaction Accounts. (a) On or prior to the Closing Date, the Servicer on behalf of the Issuer shall establish and maintain, in the name of the Trustee, for the benefit of the Noteholders, and the Certificateholder, the Transaction Accounts (other than the Principal and Interest Accounts which shall be in the name of the Servicer) as provided in Section 7.01 of the Sale and Servicing Agreement.
Transaction Accounts. The Securities Intermediary shall establish and maintain as required therein or herein, as applicable, the Collection Account, the Reserve Account and the Distribution Account specified in Sections 7.01, 7.02 and 7.03 of the Sale and Servicing Agreement. The Issuer shall establish as required therein or herein, as applicable, the Lockbox Account specified in Section 7.01 of the Sale and Servicing Agreement. Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 and as provided in Section 3.05, from moneys on deposit in the Distribution Account in accordance with the instructions of the Servicer pursuant to Section 7.05 of the Sale and Servicing Agreement.
Transaction Accounts. (a) On or prior to the Closing Date, the Securities Intermediary on behalf of the Issuer shall establish and maintain, in the name of the Securities Intermediary, for the benefit of the Securityholders, the Distribution Account, the Reserve Account and the Collection Account and the Issuer shall establish the Lockbox Account as a non-interest bearing, segregated account at the Lockbox Bank and in the name of the Securities Intermediary for the benefit of the Securityholders, in each case, as provided in Sections 7.01, 7.02 and 7.03 of the Sale and Servicing Agreement.
Transaction Accounts. Evidence that the Transaction Accounts have been established with the Account Bank (or the Disbursements Account Bank, as the case may be).
Transaction Accounts. (a) On or prior to the Closing Date, the Trustee on behalf of the Issuer shall establish and maintain, in the name of the Issuer, for the benefit of the Trustee and the Noteholders, the Lockbox Account, the Distribution Account, the Reinvestment Account, the Reserve Account and the Collection Account, in each case, as provided in Sections 7.01, 7.02, 7.03 and 7.04 of the Sale and Servicing Agreement.
Transaction Accounts. A Customer shall open a transaction account for the purpose of receipt of regular income and making of payment transactions.
Transaction Accounts. The Trustee shall establish and maintain as required therein or herein, as applicable, the Lockbox Account, the Collection Account, the Reserve Account, the Reinvestment Account and the Distribution Account specified in Sections 7.01, 7.02, 7.03, and 7.04 of the Sale and Servicing Agreement. On the Closing Date, the Issuer will deposit, or cause to be deposited, an initial deposit of $625,000 from proceeds of the issuance and sale of the Notes into the BUSINESS.29147457.3 TABLE OF CONTENTS (continued) Page Reserve Account. Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 and as provided in Section 3.05, from moneys on deposit in the Distribution Account in accordance with the instructions of the Servicer pursuant to Section 7.06 of the Sale and Servicing Agreement.
Transaction Accounts. A FHLBank commenter suggested that the rule be revised to include authority for the FHLBanks to establish transaction accounts with nonmember mortgagees in order to facilitate the funding of advances. Since the FHLBanks have incidental authority to establish limited purposes deposit accounts, see supra part II(F)(2), the Finance Board has added a new paragraph § 935.24(d) to provide the suggested authorization.
Transaction Accounts. Solely for the purpose of facilitating the making of advances to a nonmember mortgagee, a Bank may establish a transaction account for each nonmember mortgagee.
Transaction Accounts. The Servicer shall establish initially with the Trustee and cause to be maintained as required therein or herein, as applicable, each of the Transaction Accounts specified in Sections 7.01 and 7.03 of the Sale and Servicing Agreement. Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 and as provided in Section 3.05, from moneys on deposit in the Note Distribution Account.
