Note Payment Account definition

Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

Note Payment Account means the trust account established and maintained as such pursuant to Section 4.1(b) of the Sale and Servicing Agreement.

Note Payment Account. The account established by the Indenture Trustee pursuant to Section 8.02 of the Indenture and Section 5.01 of the Servicing Agreement. Amounts deposited in the Note Payment Account will be distributed by the Indenture Trustee in accordance with Section 3.05 of the Indenture.

Examples of Note Payment Account in a sentence

• Furthermore, the Treasurer may, by written order, deposit into the Note Payment Account all or any portion of the amounts described below in Paragraph (iii).

• The portion of any sums described in Subsection (a) which are withheld from the Note Payment Account pursuant to this Subsection shall be determined in accordance with the following Paragraph.

• Monies in the Note Payment Account shall be used by the County to pay principal of, premium, if any, and interest on the Notes as the same become due and payable.

• Alternatively, amounts held in two or more sub-accounts within either the Note Reserve Account or the Note Payment Account may be commingled, and if commingled shall be held pari passu for the benefit of the holders of each series of Notes pertaining to the relevant sub-accounts.

• The Treasurer may by written order provide that at such time as sufficient funds shall have been deposited into the Note Payment Account to pay all remaining amounts owed under the Notes the pledge on any additional monies otherwise payable to the Note Payment Account shall be discharged and such monies shall not be deposited into the Note Payment Account or otherwise pledged toward payment of the Notes.

More Definitions of Note Payment Account

Note Payment Account. The Eligible Account established and maintained pursuant to Section 5.01(a)(2) hereof.

Note Payment Account has the meaning set forth in Section 2.3(c) of the 2015-2 Servicing Supplement.

Note Payment Account. The note payment account maintained by or on behalf of the Securities Administrator for the benefit of the Noteholders pursuant to Section 6.01.

Note Payment Account. The segregated non-interest bearing trust account or accounts, each of which shall be an Eligible Account, established and maintained pursuant to Section 4.1 and Section 4.8 and entitled “Deutsche Bank National Trust Company, as Indenture Trustee in trust for the Noteholders of the NRZ Advance Receivables Trust 2015-ON1 Advance Receivables Backed Notes, Note Payment Account”.

Note Payment Account has the meaning specified in the Sale and Servicing Agreement.

Note Payment Account means each of the Companies’ non-interest bearing demand checking accounts nos. 00113397849 (for HC) and 00113207592 (for HMC) to be maintained with JPMorgan and to be used for (a) the Agent’s deposits of proceeds of Advances made by the Lenders to the Companies, including any Swing Line Advances funded by JPMorgan, and payments constituting the proceeds of principal from any Collateral (other than regular principal and interest payments on the Collateral); (b) the Agent’s deposits of principal and interest payments for the repayment of Advances received from a Company or for a Company’s account and (c) only if and when (i) no Default has occurred unless it has been either cured by the Companies or waived in writing by the Agent and (ii) no Event of Default has occurred unless the Agent has declared in writing that it has been cured or waived, the Companies’ withdrawal of proceeds of Advances for the purposes permitted under this Agreement and the Agent’s transfer from the relevant Note Payment Account to the relevant Company’s own account (or to a controlled disbursement account maintained by such Company with the Agent) of proceeds of sales or other dispositions of released Collateral in excess of the Advance(s) borrowed and then outstanding against such released Collateral. Each Note Payment Account is (and shall continuously be) part of the Collateral for the Obligations. The Note Payment Accounts shall be subject to setoff by the Agent for Pro Rata distribution to the Lenders. The Companies shall not have any right to directly withdraw funds from the Note Payment Accounts, but instead such funds may be withdrawn or paid out only against the order of an authorized officer of the Agent, although under the circumstances described in clause (c) of the first sentence of this definition and subject to the conditions specified in that clause, the Agent shall use diligent and reasonable efforts to cause proceeds of Advances and excess Collateral proceeds that are received as therein described and that are deposited to a Note Payment Account before 3:00 PM on a Business Day to be transferred to an account on which the relevant Company does have withdrawal order authority on that same Business Day or on the Business Day thereafter when the Agent next determines the Lenders’ proportionate shares of an Advance or a distribution of Loan principal paid.

Note Payment Account. The segregated non-interest bearing trust account or accounts, each of which shall be an Eligible Account, established and maintained pursuant to Section 4.1 and Section 4.8 and entitled “Xxxxx Fargo Bank, N.A., as Indenture Trustee in trust for the Noteholders of the NRZ Servicer Advance Receivables Trust CS Advance Receivables Backed Notes, Note Payment Account.”