Note Payment Account Clause Samples

Note Payment Account. 29 Section 5.01 Note Payment Account.............................................29

Note Payment Account. The Indenture Trustee shall establish and maintain an Eligible Account entitled "Bank One, National Association, as Indenture Trustee, for the benefit of the Securityholders, and the Certificate Paying Agent, pursuant to the Indenture, dated as of November 29, 2001, between GMACM Home Loan Trust 2001-CL1 and Bank One, National Association" (the "Note Payment Account"). On each Payment Date, amounts on deposit in the Note Payment Account shall be distributed by the Indenture Trustee in accordance with Section 3.05

Note Payment Account. The Indenture Trustee shall establish and maintain an Eligible Account entitled "Wells Fargo Bank, N.A., as Indenture Trustee, for the benefit o▇ ▇▇▇ Securityholders, the Certificate Paying Agent and the Enhancer, pursuant to the Indenture, dated as of March 30, 2004, between GMACM Home Equity Loan Trust 2004-HE1 and Wells Fargo Bank, N.A." (the "Note Payment Account"). On each Pa▇▇▇▇▇ Date, amounts on deposit in the Note Payment Account shall be distributed by the Indenture Trustee in accordance with Section 3.05

Note Payment Account. The Indenture Trustee shall establish and maintain an Eligible Account entitled "JPMorgan Chase Bank, as Indenture Trustee, for the benefit of the Securityholders, the Certificate Paying Agent and the Credit Enhancer, pursuant to the Indenture, dated as of March 30, 2006, between GMACM Home Loan Trust 2006-HLTV1 and JPMorgan Chase Bank" (the "Note Payment Account"). On each Payment Date, amounts on deposit in the Note Payment Account shall be distributed by the Indenture Trustee in accordance with Section 3.05

Note Payment Account. The Paying Agent shall establish and maintain an Eligible Account entitled “Wachovia Bank, National Association, as Paying Agent, for the benefit of the Securityholders, the Indenture Trustee, the Certificate Paying Agent and the Enhancer, pursuant to the Indenture, dated as of _____ __, 200_, among Wachovia Mortgage Loan Trust, LLC [______] Trust, Wachovia Bank, National Association and [_________________]” (the “Note Payment Account”). On each Payment Date, amounts on deposit in the Note Payment Account shall be distributed by the Paying Agent in accordance with Section 3.05

Note Payment Account. (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain the Note Payment Account, which shall be an Eligible Account, for the benefit of the Noteholders. If the Note Payment Account loses its status as an Eligible Account, the funds in such account shall be moved to an account that qualifies as an Eligible Account within thirty (30) days. The Note Payment Account shall be funded to the extent that (i) the Issuer shall remit to the Indenture Trustee the Redemption Amount for a Class of Notes pursuant to Section 13.1, (ii) the Indenture Trustee shall remit thereto any Available Funds from the Collection and Funding Account pursuant to Section 4.2(b) and (iii) the Indenture Trustee shall transfer amounts from the General Reserve Account pursuant to, and to the extent required by, Section 4.6. (b) On each Payment Date, an amount equal to the aggregate of amounts described in Section 4.5(a) shall be withdrawn from the Note Payment Account by the Indenture Trustee and remitted to the Noteholders and other Persons or accounts described therein for payment as described in that Section, and upon payments of all sums payable hereunder as described in Section 4.5(a), as applicable, any remaining amounts then on deposit in the Note Payment Account shall be released from the Security Interest and paid to the Issuer. (c) Amounts held in the Note Payment Account shall be invested in Permitted Investments at the direction of the Administrator as provided in Section 4.1.

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the Indenture Trustee shall distribute to the Noteholders as of the Record Date and Exchange Counterparties, if any, the amounts transferred to the Note Payment Account, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment of any Series 1999B Noteholders' Interest Distribution Amount to the payment of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf of the Issuer has applied for a Guarantee Payment from a Guarantee Agency or an Interest Subsidy Payment or a Special Allowance Payment from the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor may, no later than the third Business Day before such Distribution Date, deposit into the Note Payment Account an amount up to the amount of such payments applied for but not received (such deposits by the Depositor are referred to herein as "Advances"). Such Advances are recoverable by the Issuer, (i) first, from moneys in the Fund or Account which such Advance temporarily replaced and (ii) second, from payments received generally on or with respect to the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any of the other purposes permitted under this Indenture. The Depositor shall have no obligation, legal or otherwise, to make any Advance, and a determination by the Depositor to make an Advance shall not create any obligation of the Depositor, legal or otherwise, to make any future Advances.

Note Payment Account. (a) On each Payment Date, the Trustee shall distribute all amounts on deposit in the Note Payment Account, as such amounts on deposit in the Note Payment Account are specified on the related Servicer's Certificate, to Noteholders in respect of the Notes to the extent of amounts due and unpaid on the Notes for principal and interest in the following amounts and in the following order of priority: (i) the Noteholders' Interest Payment Amount; (ii) the Noteholders' Principal Payment Amount and the Additional Principal Payment Amount until the Outstanding Amount of the Notes is reduced to zero. (b) On each Payment Date, the Trustee shall send to each Noteholder pursuant to a written request the statement provided to the Trustee by the Servicer pursuant to Section 5.11 hereof on such Payment Date. (c) In the event that any withholding tax is imposed on the Trust's payment (or allocations of income) to a Noteholder, such tax shall reduce the amount otherwise distributable to the Noteholder in accordance with this Section. The parties hereto hereby agree to provide to the Trustee the information any such party may have, if any, with respect to any such withholding tax. The Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Trustee from contesting any such tax in appropriate proceedings, although the Trustee is under no obligation to so contest absent direction from the Controlling Party to so contest, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a payment (such as a payment to a non-US Noteholder), the Trustee may in its sole discretion withhold such amounts in accordance with this clause (c). In the event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trustee shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trustee for any out-of-pocket expenses incurred. Notwithstanding anything to the contrary contained in this Agreement, neither the Trust C...

Note Payment Account. 32 Section 5.01 Note Payment Account.............................................32 ARTICLE VI The Servicer.............................................................33 Section 6.01 Liability of the Servicer........................................33 Section 6.02 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer.................................................33 Section 6.03 Limitation on Liability of the Servicer and Others...............33 Section 6.04 Servicer Not to Resign...........................................34