Accounts Collection and Application of Moneys Reports Sample Clauses

Accounts Collection and Application of Moneys Reports. 14 SECTION 3.1. Trust Accounts; Investments by Indenture Trustee.........................14 SECTION 3.2. Establishment and Administration of the Trust Accounts...................16 SECTION 3.3. Reserved.................................................................19 SECTION 3.4. Distributions............................................................19 SECTION 3.5. Reports to Noteholders...................................................21 SECTION 3.6. Note Balance Write-Down Amounts..........................................22
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Accounts Collection and Application of Moneys Reports. Trust Accounts; Investments by Indenture Trustee............13
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Accounts Collection and Application of Moneys Reports. 6 Section 3.1 Trust Accounts; Investments by Collateral Agent. 6 Section 3.2 Establishment and Administration of the Accounts. 8 Section 3.3 [Reserved]. 9 Section 3.4 Distributions. 9 Section 3.5 Reports. 11 Section 3.6 Tax Matters. 12 ARTICLE IV THE SUBJECT COLLATERAL 13 Section 4.1 [Reserved]. 13 Section 4.2 Acquisition of Timeshare Loans. 13 Section 4.3 Additional Timeshare Loans. 13 Section 4.4 [Reserved]. 14 Section 4.5 Further Action Evidencing Assignments. 14 Section 4.6 Repurchase and Substitution of Timeshare Loans. 15 Section 4.7 Release of Lien. 16 Section 4.8 Appointment of Custodian. 17 Section 4.9 Sale of Timeshare Loans 18 ARTICLE V SERVICING OF TIMESHARE LOANS 18 Section 5.1 Appointment of Servicer; Servicing Standard. 18 Section 5.2 Payments on the Timeshare Loans. 18 Section 5.3 Duties and Responsibilities of the Servicer. 20 Section 5.4 Servicer Events of Default. 23 Diamond – Collateral and Servicing Agreement #39303843
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Accounts Collection and Application of Moneys Reports. 26 SECTION 3.01 Trust Accounts; Investments by Trustee.......................26 SECTION 3.02 Establishment and Administration of the Lockbox and the Collection Accounts................................28 SECTION 3.03 Establishment and Administration of Cash Reserve Accounts....29 SECTION 3.04 Distributions................................................29 SECTION 3.05 Reports to Noteholders.......................................30 SECTION 3.06
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Accounts Collection and Application of Moneys Reports. SECTION 3.1. Trust Accounts; Investments by Trustee. . . . . . . . . . .30 SECTION 3.2. Establishment and Administration of the Collection Accounts. . . . . . . . . . . . . . . . . . . . . . . . .32 SECTION 3.3. Establishment and Administration of Cash Collateral Accounts. . . . . . . . . . . . . . . . . . . . . . . . .33 SECTION 3.4. Distributions . . . . . . . . . . . . . . . . . . . . . . .34 SECTION 3.5. Reports to Noteholders. . . . . . . . . . . . . . . . . . .34 SECTION 3.6. Returned Payments . . . . . . . . . . . . . . . . . . . . .35
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Accounts Collection and Application of Moneys Reports. 10 SECTION 4.1. Trust Accounts. 10 SECTION 4.2. Establishment and Administration of the Collection Account. 11 SECTION 4.3. Distributions. 12 SECTION 4.4. Reports to Buyer. 13
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Accounts Collection and Application of Moneys Reports. 14 SECTION 3.1. Trust Accounts; Investments by Indenture Trustee. 14 SECTION 3.2. Establishment and Administration of the Trust Accounts. 15 SECTION 3.3. Reserved. 20 SECTION 3.4. Distributions. 20 SECTION 3.5. Reports to Noteholders. 22 SECTION 3.6. Note Balance Write-Down Amounts. 23 SECTION 3.7. Withholding Taxes. 23 ARTICLE IV. THE TRUST ESTATE 23 SECTION 4.1. Acceptance by Indenture Trustee. 23 SECTION 4.2. Subsequent Timeshare Loans. 24
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Accounts Collection and Application of Moneys Reports. 13 Section 3.1 Trust Accounts; Investments by Indenture Trustee. 13 Section 3.2 Establishment and Administration of the Trust Accounts. 15 Section 3.3 Reserved. 19 Section 3.4 Distributions. 19 Section 3.5 Reports to Noteholders. 20 Section 3.6 Withholding Taxes. 21 ARTICLE IV THE TRUST ESTATE 22 Section 4.1 Acceptance by Indenture Trustee. 22
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Accounts Collection and Application of Moneys Reports 
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Related to Accounts Collection and Application of Moneys Reports

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Collection of Monies Except as otherwise expressly provided in this Agreement, the Trustee may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee pursuant to this Agreement. The Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall subsequently receive any such amount, it may withdraw such request.

  • Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts (a) The Master Servicer shall, as to all Serviced Mortgage Loans, establish and maintain one or more accounts (the "Servicing Accounts"), in which all related Escrow Payments shall be deposited and retained; provided that, in the case of a Serviced Loan Combination, if the related Servicing Account includes funds with respect to any other Serviced Mortgage Loan, then the Master Servicer shall maintain a separate sub-account of such Servicing Account that relates solely to such Serviced Loan Combination. Subject to the terms of the related loan documents, each Servicing Account shall be an Eligible Account. Withdrawals of amounts so collected from a Servicing Account may be made (in each case, to the extent of amounts on deposit therein in respect of the related Serviced Mortgage Loan or, in the case of clauses (iv) and (v) below, to the extent of interest or other income earned on such amounts) only for the following purposes: (i) consistent with the related loan documents, to effect the payment of real estate taxes, assessments, insurance premiums (including premiums on any Environmental Insurance Policy), ground rents (if applicable) and comparable items in respect of the respective Mortgaged Properties; (ii) insofar as the particular Escrow Payment represents a late payment that was intended to cover an item described in the immediately preceding clause (i) for which a Servicing Advance was made, to reimburse the Master Servicer, the Special Servicer, the Trustee or any Fiscal Agent, as applicable, for such Servicing Advance; (iii) to refund to Mortgagors any sums as may be determined to be overages; (iv) following an event of default under the related Serviced Mortgage Loan, for such other purposes as are consistent with the related loan documents, applicable law and the Servicing Standard; (v) to pay interest, if required and as described below, to Mortgagors on balances in such Servicing Account; (vi) to pay the Master Servicer interest and investment income on balances in such Servicing Account as described in Section 3.06, if and to the extent not required by law or the terms of the related loan documents to be paid to the Mortgagor; or (vii) to clear and terminate such Servicing Account at the termination of this Agreement in accordance with Section 9.01. To the extent permitted by law or the applicable loan documents, funds in the Servicing Accounts may be invested only in Permitted Investments in accordance with the provisions of Section 3.06. The Master Servicer shall pay or cause to be paid to the Mortgagors interest, if any, earned on the investment of funds in the related Servicing Accounts, if required by law or the terms of the related Serviced Mortgage Loan. If the Master Servicer shall deposit in a Servicing Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Servicing Account, any provision herein to the contrary notwithstanding. (b) The Master Servicer shall, as to each and every Serviced Mortgage Loan, (i) maintain accurate records with respect to the related Mortgaged Property reflecting the status of real estate taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any ground rents payable in respect thereof and (ii) use reasonable efforts to obtain, from time to time, all bills for (or otherwise confirm) the payment of such items (including renewal premiums) and, if the subject Serviced Mortgage Loan requires the related Mortgagor to escrow for such items, shall effect payment thereof prior to the applicable penalty or termination date. For purposes of effecting any such payment for which it is responsible, the Master Servicer shall apply Escrow Payments as allowed under the terms of the related Serviced Mortgage Loan (or, if such Serviced Mortgage Loan does not require the related Mortgagor to escrow for the payment of real estate taxes, assessments, insurance premiums, ground rents (if applicable) and similar items, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to cause the related Mortgagor to comply with the requirement of the related Mortgage that the Mortgagor make payments in respect of such items at the time they first become due and, in any event, prior to the institution of foreclosure or similar proceedings with respect to the related Mortgaged Property for nonpayment of such items). Subject to Section 3.11(h), the Master Servicer shall timely make a Servicing Advance to cover any such item which is not so paid, including any penalties or other charges arising from the Mortgagor's failure to timely pay such items. (c) The Master Servicer shall, as to each and every Serviced Mortgage Loan, make a Servicing Advance with respect to the related Mortgaged Property in an amount equal to all such funds as are necessary for the purpose of effecting the payment of (i) real estate taxes, assessments and other similar items, (ii) ground rents (if applicable), and (iii) premiums on Insurance Policies (including Environmental Insurance Policies), in each instance if and to the extent Escrow Payments (if any) collected from the related Mortgagor are insufficient to pay such item when due and the related Mortgagor (or any related guarantor or party entitled to exercise cure rights) has failed to pay such item on a timely basis. All such Servicing Advances shall be reimbursable in the first instance from related payments by or on behalf of the Mortgagors, and further as provided in Section 3.05(a) and/or Section 3.05A. No costs incurred by the Master Servicer in effecting the payment of real estate taxes, assessments and, if applicable, ground rents on or in respect of the Mortgaged Properties shall, for purposes of this Agreement, including the Trustee's calculation of monthly distributions to Certificateholders, be added to the unpaid Stated Principal Balances of the related Serviced Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit. The foregoing shall in no way limit the Master Servicer's ability to charge and collect from the Mortgagor such costs together with interest thereon. (d) The Master Servicer shall, as to all Serviced Mortgage Loans, establish and maintain, as applicable, one or more accounts (the "Reserve Accounts"), into which all related Reserve Funds, if any, shall be deposited and retained; provided that, in the case of a Serviced Loan Combination, if the related Reserve Account includes funds with respect to any other Mortgage Loan, then the Master Servicer shall maintain a separate sub-account of such Reserve Account that relates solely to such Serviced Loan Combination. Withdrawals of amounts so deposited may be made (i) for the specific purposes for which the particular Reserve Funds were delivered, in accordance with the Servicing Standard and the terms of the related Mortgage Note, Mortgage and any other agreement with the related Mortgagor governing such Reserve Funds, (ii) to pay the Master Servicer interest and investment income earned on amounts in the Reserve Accounts as described below, and (iii) following an event of default under the related Serviced Mortgage Loan, for such other purposes as are consistent with the related loan documents, applicable law and the Servicing Standard. To the extent permitted in the applicable loan documents, funds in the Reserve Accounts may be invested in Permitted Investments in accordance with the provisions of Section 3.06. Subject to the related loan documents, all Reserve Accounts shall be Eligible Accounts. Consistent with the Servicing Standard, the Master Servicer may waive or extend the date set forth in any agreement governing Reserve Funds by which any required repairs, capital improvements and/or environmental remediation at the related Mortgaged Property must be completed; provided that any waiver, any extension for more than 120 days and any subsequent extension may only be granted with the consent of the Special Servicer.

  • Application of Money Collected Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: