Class P Distribution Account definition

Class P Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05 in the name of the Trustee for the benefit of the Class P Certificateholders and designated "The Bank of New York, in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-BC3".
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Class P Distribution Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05 in the name of the Trustee for the benefit of the Class P Certificateholders and designated "The Bank of New York, in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-ECC1".
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Examples of Class P Distribution Account in a sentence

  • Funds in the Class P Distribution Account shall be held in trust for the Class P Certificateholders for the uses and purposes set forth in this Agreement.

  • On the Closing Date, $100 shall be deposited into the Class P Distribution Account and shall be held in trust for the benefit of the Class P Certificateholders for payment pursuant to Section 4.04 upon the earlier of (a) the exercise of the Optional Termination by the Master Servicer pursuant to Section 9.01 and (b) the Class P Principal Distribution Date.

  • On the Closing Date, an amount equal to $100 shall be deposited in the Class P Distribution Account and shall be held in trust for the Class P Certificateholders for the uses and purposes set forth in this Agreement.

  • The Trustee shall give at least 30 days advance notice to the Master Servicer, the Seller, each Rating Agency and the Depositor of any proposed change of the location of the Distribution Account, the Pre-Funding Account, the Class P Distribution Account, the Carryover Reserve Fund prior to any change thereof.

  • On the Closing Date, $100 shall be deposited into the Class P Distribution Account and shall be held in trust for the benefit of the Class P Certificateholders for payment pursuant to Section 4.04 upon the earlier of (a) the exercise of the Optional Termination by the Servicer pursuant to Section 9.01 and (b) the Class P Principal Distribution Date.

  • On the Closing Date, $100 shall be deposited into the Class P Distribution Account and shall be held in trust for the benefit of the Class P Certificateholders for payment pursuant to Section 4.04 upon the earlier of (a) the exercise of the Optional Termination by the holders of the Class C Certificates or the Master Servicer pursuant to Section 9.01 and (b) the Class P Principal Distribution Date.

Related to Class P Distribution Account