Servicer Account definition

Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

Servicer Account shall have the meaning specified in the Servicing Agreement.

Servicer Account. Any account established by a Servicer or a PSA Servicer in connection with the servicing of the Purchased Assets.

Examples of Servicer Account in a sentence

• All payments to the Servicer under this Agreement shall be made by wire transfer to the Servicer Account.

• The Backup Servicer Account If a backup servicer is required, the servicer will establish, deposit funds into and maintain a backup servicer account, and the backup servicer will be paid according to the terms of a backup servicing agreement.

• The Buyer hereby covenants and agrees that it shall not deliver a Notice of Exclusive Control (as such term is defined in the Collection Account Control Agreement, the Pass-Through Trust Account Control Agreement or the Servicer Account Control Agreement) under the Collection Account Control Agreement, the Pass-Through Trust Account Control Agreement or the Servicer Account Control Agreement unless an Event of Default has occurred and is continuing and has not been waived in writing by Buyer.

• Other parties to the transaction may also perform multiple roles, including UBI which, in addition to being the Originator, is also Master Servicer, Account Bank, Cash Manager, Calculation Agent, Initial Senior Notes Subscriber and Initial Junior Notes Subscriber.

• Servicer Account: All scheduled monthly payments of principal, interest and other amounts duefrom Customers under the Transferred Promissory Notes are collected on the relevant payment date of each Transferred Promissory Note, either by direct debit from an account of the relevant Customer or by way of bank transfer and credited to an account held by the Servicer (the Servicer Account).

More Definitions of Servicer Account

Servicer Account. The segregated, non-interest bearing account, created and maintained at Deposit Account Bank pursuant to the Servicing Agreement, which shall be in Servicer’s name on behalf of Buyer pursuant to the Servicing Agreement, account number ###-#######.

Servicer Account means the bank account specified in the Lender Wire Instructions Direction as such bank account may be updated from time to time after the Agreement Date by delivery by the Servicer to the SPV of updated bank account information on a form substantially similar to the Lender Wire Instructions Direction.

Servicer Account means the deposit account in the name of the Initial Servicer with Bank of America, N.A., account number 000000000000, or an account agreed by the Trustees to be the successor thereto.

Servicer Account means the account created and maintained pursuant to Section 5.7.

Servicer Account means with respect to Purchased Mortgage Loans and Contributed Assets serviced by any Subservicer, the account as identified in the related Servicing Agreement into which the Servicer deposits Income and related collections.

Servicer Account. Any account established and maintained for the benefit of the Master Servicer or the Trust by each Servicer with respect to the related Mortgage Loans and any REO Property, pursuant to the terms of the respective Servicing Agreement.

Servicer Account. Any account established by the Servicer under the Servicing Agreement in connection with the servicing of any Asset or Purchased Asset. For the avoidance of doubt, at any time that an Affiliate of Seller is Servicer, such Affiliate shall hold no Income or other amounts related to the Purchased Assets.