Note Account Clause Samples

Note Account. The Cash Manager shall establish and maintain the Note Account in accordance with Section 3.01(i) of the Indenture.

Note Account. Upon the issuance of Notes of any subclass for which a Note Account was not previously established, the Cash Manager shall cause the Operating Bank to establish and maintain a Note Account for such subclass in accordance with Section 3.01(a) in the name of the Security Trustee for the benefit of the Holders of the Notes of such subclass. Upon the transfer of any amounts to the Note Account for any subclass of Notes in accordance with Section 3.09 or Section 3.14, the Trustee on the same day shall pay all such amounts to the Holders of such subclass of Notes as of the related Record Date in accordance with the terms of this Indenture.

Note Account. (a) The Issuer hereby directs the Indenture Trustee to establish one or more accounts that shall collectively be the "Note Account" on or before the Closing Date. The Indenture Trustee shall promptly deposit in the Note Account (i) all Remittable Funds received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Note Account pursuant to Section 8.01, (iv) all amounts received pursuant to Section 8.03, and (v) all other amounts received for deposit in the Note Account, including the payment of any Purchase Price received by the Indenture Trustee. All amounts that are deposited from time to time in the Note Account are subject to withdrawal by the Indenture Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.

Note Account. A. For purposes of the transactions contemplated herein, the Issuer shall open and maintain the Note Account. B. Deposits will be made to the Note Account from time to time by or on behalf of the Issuer by delivery of funds to be deposited therein. All Proceeds shall be credited to the Note Account. Withdrawals or other uses of the funds from the Note Account shall be made in accordance with instructions from an Issuer Agent or to repay amounts payable under Sections 4.B. or 7.D. hereof. Notwithstanding anything in this Agreement to the contrary, the IPA shall not be obligated (i) to permit any withdrawal or other use of funds from the Note Account, or (ii) to honor any instructions to those effects, if the IPA, in its sole discretion, shall determine that as a result there would be an overdraft or negative balance in respect of final credits (whether in the course of any day, overnight or otherwise) in the Note Account.

Note Account. The Cash Manager, acting on behalf of the Trustee, shall establish and maintain at the Operating Bank in the name of the Trustee a trust account for the benefit of the Noteholders of each subclass (each, a "Note Account") as a non-interest-bearing account. The Trustee shall hold each Note Account in trust for the benefit of the Noteholders of the relevant Note Account, and shall make or permit withdrawals therefrom only as provided in this Indenture. On each day when a payment is required to be made under this Indenture in respect of any subclass of Notes, such amount shall be transferred from the Collection Account to the relevant Note Account for application to the payment of such Notes in accordance with the terms of this Indenture.

Note Account. (a) The Issuer hereby directs the Indenture Trustee to establish, at the Corporate Trust Office one or more accounts that shall collectively be the "Note Account" on or before the Closing Date. The Indenture Trustee shall promptly deposit in the Note Account (i) all Remittable Funds received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Note Account pursuant to Section 8.01, (iv) all amounts received pursuant to Section 8.03, (v) any amount required to be deposited pursuant to Section 8.16 and (vi) all other amounts received for deposit in the Note Account, including the payment of any Purchase Price received by the Indenture Trustee. All amounts that are deposited from time to time in the Note Account are subject to withdrawal by the Indenture Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.

Note Account. The Administrative Agent, acting on behalf of the Trustee, shall establish and maintain at the Operating Bank in the name of the Trustee a trust account for the benefit of the Noteholders of each subclass (each, a "Note Account") as a non-interest-bearing account. The Trustee shall hold each Note Account in trust for the benefit of the Noteholders of the relevant subclass, and shall make or permit withdrawals therefrom only as provided in this Indenture. On each day when a payment is required to be made under this Indenture in respect of a subclass, such amount shall be transferred from the 66 Collection Account to the applicable Note Account for application to the payment of such Notes in accordance with the terms of this Indenture.

Note Account. A. For purposes of the transactions contemplated herein, the Issuer shall open and maintain with FNBC a demand deposit account (No. 10-14661) (the "Note Account"). B. Deposits will be made to the Note Account from time to time by or on behalf of the Issuer by delivery to FNBC of funds to be deposited therein. All Proceeds shall be credited to the Note Account. Withdrawals or other uses of the funds from the Note Account shall be made in accordance with instructions from an Issuer Agent or to repay amounts payable under Sections 3.B. or 6.D. hereof. Notwithstanding anything in this Agreement to the contrary, FNBC shall not be obligated (i) to permit any withdrawal or other use of funds from the Note Account, or (ii) to honor any instructions to those effects, if FNBC, in its sole discretion, shall determine that as a result there would be an overdraft or negative balance in respect of final credits (whether in the course of any day, overnight or otherwise) in the Note Account.

Note Account. For so long as Ocwen is the Sub-Servicer, monies on deposit in the Note Account shall be invested in Permitted Investments maturing as provided in the Servicing Agreement.