Class C Distribution Account definition

Class C Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05(h) in the name of the Trustee for the benefit of the Class C Certificateholders and designated "The Bank of New York in trust for registered holders of Alternative Loan Trust 2004-17CB Mortgage Pass-Through Certificates, Series 2004-17CB, Class C." Funds in the Class C Distribution Account shall be held in trust for the Class C Certificateholders for the uses and purposes set forth in this Agreement.
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Class C Distribution Account has the meaning specified in Section 4.15(a) of this Supplement.
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Class C Distribution Account means the account established and ---------------------------- maintained as such pursuant to Section 4.1(c).
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Examples of Class C Distribution Account in a sentence

  • The Trustee agrees that it shall promptly follow the instructions of the Servicer to withdraw funds from the Collection Account, the Class A Distribution Account, the Class B Distribution Account and the Class C Distribution Account and make demands for withdrawals from the Spread Account and take any action required under this Agreement at such time as required under this Agreement.

  • The Class C Distribution Account Collateral shall be under the sole dominion and control of the Trustee, and the Paying Agent at the direction of the Trustee, in each case for the benefit of the Class C Noteholders.

  • Initially, the Class C Distribution Account will be established with the Trustee.

  • All interest and earnings (net of losses and investment expenses) on funds on deposit in the Class C Distribution Account shall be deemed to be on deposit and available for distribution.

  • The Trustee, for the benefit -------------------------------- of the Class C Certificateholders, shall cause to be established and maintained in the name of the Trustee, with an office or branch of a Qualified Institution, a non-interest bearing segregated account (the "Class C Distribution Account").

  • If the Class C Distribution Account is not maintained in accordance with the previous sentence, the Master Servicer shall establish a new Class C Distribution Account, within ten (10) Business Days after obtaining knowledge of such fact, which complies with such sentence, and shall instruct the Trustee to transfer all cash and investments from the non-qualifying Class C Distribution Account into the new Class C Distribution Account.

  • The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Class C Distribution Account and in all proceeds thereof.

  • In addition, on the Closing Date, the Depositor shall cause $100.00 to be deposited into the Class C Distribution Account.

  • The Trustee shall establish and maintain in the name of the Trustee for the benefit of the Class C Noteholders, or cause to be established and maintained, an account (the "Class C Distribution Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Class C Noteholders.

  • The Class C Distribution Account shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Class C Distribution Account.


More Definitions of Class C Distribution Account

Class C Distribution Account the account or accounts by that name established and maintained by the Indenture Trustee pursuant to Section 3.01.
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Related to Class C Distribution Account

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2016-P3, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.