Servicer Custodial Account definition

Servicer Custodial Account. The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

Servicer Custodial Account. The NMC Servicer Custodial Account, the BAFSB Servicer Custodial Account or the BANA Servicer Custodial Account, as applicable.

Servicer Custodial Account means, with respect to any Servicer, as applicable, each segregated account established for the benefit of Buyer, as referenced in, and subject to, the related Servicer Custodial Account Control Agreement, in each case, into which any Income derived from a Purchased Asset sold by a Seller to Buyer pursuant to a Transaction hereunder and serviced by such Servicer shall be deposited.

Examples of Servicer Custodial Account in a sentence

• This should be done through development by the Australian Government of a national plan for education in human rights and responsibilities to be adopted in schools, universities, the public sector and the community generally.

• First, a firm’s foremostobligation is to stay financially healthy and increase value; firms that are losing money cannot afford to be charitable.

• The Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Servicer Custodial Account pursuant to clauses (i), (ii), (iv) and (v).

• All income or gain (net of any losses) realized from any such investment of funds on deposit in the Servicer Custodial Account shall be for the benefit of the Servicer as servicing compensation and shall be retained by it monthly as provided herein.

• Additional servicing compensation in the form of Excess Proceeds, prepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments and all other customary and ancillary income and fees shall be retained by the Servicer to the extent not required to be deposited in the Servicer Custodial Account pursuant to Section 3.08(b).

More Definitions of Servicer Custodial Account

Servicer Custodial Account means the account established and referenced in the Servicer Custodial Account Control Agreement, into which all Income relating to the Trust Mortgage Loans and REO Properties being serviced by the Servicer shall be deposited.

Servicer Custodial Account. Each separate Eligible Account or Accounts created and maintained by the Servicers pursuant to Section 3.08(b). Servicer's Certificate: The monthly report required by Section 4.01. Service(s)(ing): In accordance with Regulation AB, the act of servicing and administering the Mortgage Loans or any other assets of the Trust by an entity that meets the definition of "servicer" set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the residential mortgage-backed securitization market.

Servicer Custodial Account. The BANA Custodial Account or Wells Fargo Custodial Account, as applicable.

Servicer Custodial Account. The GreenPoint Custodial Account, the BANA Custodial Account or the National City Mortgage Custodial Account, as applicable.

Servicer Custodial Account. The account or accounts created and maintained by each Servicer pursuant to Section 3.06(a), each of which shall be entitled "Servicer Custodial Account, [Name of Servicer], as a servicer for the trust under the Pooling and Servicing Agreement dated as of November 1, 2006 among Asset Backed Funding Corporation, as Depositor, Option One Mortgage Corporation, as a servicer, JPMorgan Chase Bank, National Association, as a servicer, Litton Loan Servicing LP, as a servicer, Wells Fargo Bank, N.A., as mxxxxx servicer and as securities administxxxxx, and U.S. Bank National Association, as trustee, in trust for the registered Holders of ABFC 2006-HE1 Trust, Asset Backed Funding Corporation Asset Backed Certificates, Series 2006-HE1" or "Servicer Custodial Account, [Name of subservicer], as subservicer for [Name of Servicer], for the trust under the Pooling and Servicing Agreement dated as of November 1, 2006 among Asset Backed Funding Corporation, as Depositor, Option One Mortgage Corporation, as a servicer, JPMorgan Chase Bank, National Association, as a servicer, Litton Loan Servicing LP, as a servicer, Wells Fargo Bank, N.A., as xxxxxr servicer and as securities adxxxxxtrator, and U.S. Bank National Association, as trustee, in trust for the registered Holders of ABFC 2006-HE1 Trust, Asset Backed Funding Corporation Asset Backed Certificates, Series 2006-HE1," and each of which must be an Eligible Account. Servicer Event of Termination: One or more of the events described in Section 7.01(a).

Servicer Custodial Account. The separate Eligible Account or Accounts created and maintained by GreenPoint pursuant to Section 3.09(a).

Servicer Custodial Account means the account identified in the related Servicing Agreement.