Lower-Tier Distribution Account definition

Lower-Tier Distribution Account. A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.
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Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2015-GC29, Lower-Tier Distribution Account” and which must be an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the Lower-Tier REMIC.
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Lower-Tier Distribution Account. ▇▇▇ ▇egregated account, accounts or sub-accounts created and maintained by the Trustee pursuant to Section 3.04(b) in trust for the Certificateholders, which shall be entitled "LaSalle Bank National Association, as Trustee, in trust for the registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP11 Comme▇▇▇▇▇ ▇▇▇▇▇a▇▇ ▇▇ss-Through Certificates, Series 2007-LDP11, Lower-Tier Distribution Account." Any such account, account▇ ▇▇ ▇▇▇-▇▇▇▇▇▇▇▇ ▇▇▇▇l be an Eligible Account.
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Examples of Lower-Tier Distribution Account in a sentence

  • On each Remittance Date, the Servicer shall transfer from the Collection Account to the Certificate Administrator for deposit into the Lower-Tier Distribution Account all funds received during or prior to the related Collection Period and remaining on deposit therein, after giving effect to the withdrawals made pursuant to clauses (i) through (xi) of the first paragraph of Section 3.4(c).

  • In addition, the Servicer shall transfer all amounts required to be transferred to the Certificate Administrator for deposit in the Lower-Tier Distribution Account on or prior to the Servicer Remittance Date from the Collection Account pursuant to Section 3.4 and Section 3.5 of this Agreement.

  • Any Available Funds that remain in the Lower-Tier Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution Amount shall be distributed to the Holders of the Class R Certificates (in respect of the Class LT-R Interest, but only to the extent of the amount remaining in the Lower-Tier Distribution Account, if any).

  • For the avoidance of doubt, the Collection Account, the Interest Reserve Account and the Lower-Tier Distribution Account (including interest, if any, earned on the investment of funds in such accounts) will be owned by the Lower-Tier REMIC, and the Upper-Tier Distribution Account (including interest, if any, earned on the investment of funds such account) will be owned by the Upper-Tier REMIC, each for U.S. federal income tax purposes.


More Definitions of Lower-Tier Distribution Account

Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identity of the Trustee or the Certificate Administrator) shall be entitled “W▇▇▇▇ Fargo Bank, National Association, as Certificate Administrator, on behalf of W▇▇▇▇ Fargo Bank, National Association, as Trustee, for the benefit of the registered Holders of CSAIL 2015-C3 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2▇▇▇-▇▇, ▇▇▇▇▇-▇▇▇▇ Distribution Account” and which must be an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the Lower-Tier REMIC.
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Lower-Tier Distribution Account means the sub-account deemed to be a part of the Distribution Account and maintained by the Trustee pursuant to Section 3.04(b).
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Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identity of the Trustee or the Certificate Administrator) shall be entitled “▇▇▇▇▇ Fargo Bank, National Association, as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2014-GC22, Lower-Tier Distribution Account” and which must be an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the Lower-Tier REMIC.
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Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account or accounts by the Trustee pursuant to Section 3.05(b), which shall be entitled "LaSalle National Bank, as Trustee, in trust for Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series ▇▇▇▇-▇▇, ▇▇▇▇▇-▇▇▇▇ Distribution Account" and which must be an Eligible Account.
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Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which shall be entitled “W▇▇▇▇ Fargo Bank, National Association, as Certificate Administrator, on behalf of Deutsche Bank National Trust Company, as Trustee for Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2▇▇▇-▇▇▇▇, ▇▇▇▇▇-▇▇▇▇ Distribution Account” and which must be an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the Lower-Tier REMIC.
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Lower-Tier Distribution Account. The segregated account or accounts created and maintained by the Paying Agent pursuant to Section 3.04(b) in trust for the Certificateholders, which shall be entitled "The Chase Manhattan Bank, as Paying Agent, in trust for the registered Holders of Chase Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series ▇▇▇▇-▇, ▇▇▇▇▇-▇▇▇▇ Distribution Account". Any such account or accounts shall be an Eligible Account.
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Lower-Tier Distribution Account. The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier Distribution Account) or accounts by the [Trustee][Certificate Administrator] pursuant to Section 3.05(b) of this Agreement, which shall be entitled “[TRUSTEE][CERTIFICATE ADMINISTRATOR]], as [Trustee][Certificate Administrator], in trust for Holders of RBS Commercial Funding Inc., Commercial Mortgage Pass-Through Certificates, Series 20[__]-[__], Lower-Tier Distribution Account” and which must be an Eligible Account. The Lower-Tier Distribution Account shall be an asset of the Lower-Tier REMIC.
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