The Reserve Account Sample Clauses

The Reserve Account. (a) On the Issuance Date, the Issuer has made an initial deposit of $___________ into the Reserve Account. On each Payment Date, the Trustee shall transfer to the Collection Account from the Reserve Account such amounts as shall be required by Section 3.04(b). (b) Prior to each Payment Date the Trustee shall transfer from the Reserve Account to the Collection Account the amount specified by the Servicer in the related Servicing Report representing investment earnings on amounts held in the Reserve Account as of the related Determination Date. If by 12:00 noon, New York City time, on the Business Day preceding any Payment Date, Available Funds are insufficient to permit on such Payment Date all distributions required by Section 3.03(b)(i) through 3.03(b)(vii) (such payments, the "Required Payments" and such shortfall, an "Available Funds Shortfall"), then, to the extent of the Available Reserve Amount, the Trustee shall transfer, not later than the end of such Business Day, from the Reserve Account to the Collection Account such amount to the extent available as shall be necessary to make on such Payment Date all Required Payments. (c) In the event that after giving effect to all the disbursements required to be made on any Payment Date, the Available Reserve Amount exceeds the Required Reserve Amount, the Trustee shall transfer, not later than the end of business on such Payment Date, an amount equal to such excess to the Issuer. (d) Upon the satisfaction and discharge of this Indenture, any balance remaining in the Reserve Account, after all obligations to the Noteholders hereunder have been fully satisfied, shall be paid to reimburse the Trustee for any amounts owing to it arising from the performance of its obligations under this Indenture and, then, to the Issuer.

The Reserve Account. (i) If, on any Settlement Date prior to the Termination Date, Collections on deposit in the Collection Account on such day are less than the aggregate amount required to be distributed pursuant to clauses (i), (ii), (iii), and (iv) of Section 2.06, the Program Agent shall direct the Paying Agent to withdraw the amount of such deficiency (but not in excess of the amount required to be distributed pursuant to such clauses (i), (ii), (iii) and (iv)), up to the amount available in the Reserve Account, from the Reserve Account and shall apply such amount directly (and solely) to any unpaid amounts described in clauses (i), (ii), (iii) and (iv) in the order of priority and in the manner set forth in such clauses. (ii) On the first Settlement Date after the Termination Date, any funds in the Reserve Account shall be deposited in the Collection Account to be applied as part of the Collections on such Settlement Date. After making the withdrawal required by this Section 2.06(d)(ii), the Reserve Account shall be closed.

The Reserve Account. In order to effectuate and to secure the subordination provided for herein, there shall be established and maintained with the Servicer, the Reserve Account to include the money and other property deposited and held therein pursuant to this Section 4.7, and the Seller agrees, simultaneously with the execution and delivery of this Agreement, to execute and deliver the Reserve Account Agreement and, pursuant to the terms thereof, to deposit $[ ] in the Reserve Account. Although the Seller has pledged the Reserve Account to the Servicer pursuant to the Reserve Account Agreement, the Reserve Account shall not under any circumstances be deemed to be a part of or otherwise includable in the Trust or the Trust Property, but instead represents property beneficially owned by the Seller and the Class C Certificateholder, which has been pledged and deposited with the Servicer (as secured party on behalf of the Class A Certificateholders, Class B Certificateholders, Class C Certificateholder and the Servicer) in accordance with the terms hereof and of the Reserve Account Agreement. The Seller and the Class C Certificateholder, by the acceptance of its Certificate, hereby acknowledge and accept that the assets in the Reserve Account (and all earnings thereon) are owned beneficially by them, and the Seller and the Class C Certificateholder agree to treat such assets (and all earnings thereon) as their assets (and earnings) for federal, state, and local tax and all other purposes, as their interest shall appear, and not to sell, transfer, or otherwise dispose of their interests therein. In the event that the Servicing Certificate with respect to any Determination Date shall state that the Total Distribution Amount with respect to such Determination Date is insufficient to make the payments required to be made on the related Distribution Date pursuant to Section 4.5(a)(i) through (vi), (the amount of such deficiency being a "Deficiency Claim Amount"), then on the second Business Day immediately following the related Determination Date, the Trustee shall deliver to the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") specifying the Deficiency Claim Amount for such Distribution Date. Such Deficiency Notice shall direct the Servicer to remit such Deficiency Claim Amount (to the extent of the funds available to be distributed pursuant to the Reserve Account Agreement) to the Trustee for deposit in the Collection Account and...

The Reserve Account. 1. The Amount Distributed to the Reserve Account

The Reserve Account. All present and future security for the payment to Seller of any of the Collateral and goods, which gave or will give rise to any such Collateral or are evidenced, identified, or represented therein or thereby.

The Reserve Account. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary an account (the “Reserve Account”) entitled “Reserve Account, LaSalle Bank National Association, as Indenture Trustee, in trust for the benefit of the Holders of the Xxxxxx ABS Corporation Home Equity Loan Trust 2005-1 Home Equity Loan Asset-Backed Notes, Series 2005-1.” The Reserve Account shall be an Eligible Account. (b) If the existing Reserve Account ceases to be an Eligible Account, the Indenture Trustee shall establish a new Reserve Account that is an Eligible Account within 10 Business Days and transfer all funds and investment property on deposit in such existing Reserve Account into such new Reserve Account. The Reserve Account shall relate solely to the Securities and funds therein shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement. The Indenture Trustee shall make withdrawals from the Reserve Account only for the following purposes: (i) to pay such amounts required to be paid pursuant to Section 2.01(b) of this Agreement; (ii) to pay such amounts required to be paid pursuant to Section 3.11 of the Trust Agreement; and

The Reserve Account. (a) If, on any Distribution Date prior to the Facility Termination Date, the Amount Available is less than the aggregate amount required to be distributed pursuant to clauses (i), (ii), (iii), (iv), (v), (vi) and (ix) of Section 9.5(a), the Administrative/Collateral Agent shall withdraw (or, if the Reserve Account shall not at such time be maintained by the Administrative/Collateral Agent, the Administrative/Collateral Agent shall direct the holder of the Reserve Account to withdraw) the amount of such deficiency (but not in excess of the amount required to be distributed pursuant to clauses (v), (vi) and (ix) of Section 9.5(a)), up to the amount available in the Reserve Account, from the Reserve Account and shall apply such amount directly (and solely) to any unpaid amounts described in clauses (v), (vi) (but only to the extent the then outstanding principal amount of all Advances exceeds the Initial Borrowing Base) and (ix) of Section 9.5(a) in the order of priority and in the manner set forth in such clauses of Section 9.5(a). (b) If, on any Interim Distribution Date prior to the Facility Termination Date, the amount withdrawn from the Collection Account is less than the aggregate amount required to be distributed pursuant to clauses (i) and (ii) of Section 9.5(b), the Administrative/Collateral Agent shall withdraw (or, if the Reserve Account shall not at such time be maintained by the Administrative/Collateral Agent, the Administrative/Collateral Agent shall direct the holder of the Reserve Account to withdraw) the amount of such deficiency, up to the amount available in the Reserve Account, from the Reserve Account and apply such amount to any unpaid amounts described in clauses (i) and (ii) of Section 9.5(b) in the order of priority and in the manner set forth in such clauses of Section 9.5(b). (c) If, on the Facility Termination Date, the Amount Available is less than the aggregate amount required to be distributed pursuant to clauses (i), (ii), (iii), (iv), (v), (vi), (viii) and (ix) of Section 9.5(a), the Administrative/Collateral Agent shall withdraw (or, if the Reserve Account shall not at such time be maintained by the Administrative/Collateral Agent, the Administrative/Collateral Agent shall direct the holder of the Reserve Account to withdraw) the amount of such deficiency (but not in excess of the amount required to be distributed pursuant to clauses (v), (vi), (viii) and (ix) of Section 9.5(a)), up to the amount available in the Reserve Acc...

The Reserve Account. (a) The Issuer shall establish and maintain a reserve account (the "Reserve Account"), into which the Issuer shall ensure that from the First Issue Date, an amount equal to 1/3 of the next Interest Payment shall be paid on a monthly basis. The Reserve Account shall be pledged and blocked in favour of the Agent, save for interest payments to be paid in accordance with the terms of the Bonds. (b) Five (5) Business Days prior to each Interest Payment Date, the Issuer shall request the Agent to release an amount equal to the amount payable on that Interest Payment Date by instructing the bank to transfer such amount from the Reserve Account to the Issuer's account affiliated with the CSD. The Agent shall give the bank such instructions no later than two (2) Business Days prior to the relevant Interest Payment Date.

The Reserve Account. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary an account (the "Reserve Account") entitled "Reserve Account, LaSalle Bank National Association, as Indenture Trustee, in trust for the benefit of the Holders of the GreenPoint Mortgage Funding Trust 2005-HE3 Asset-Backed Notes, Series 2005-HE3." The Reserve Account shall be an Eligible Account. (b) If the existing Reserve Account ceases to be an Eligible Account, the Indenture Trustee shall establish a new Reserve Account that is an Eligible Account within 10 Business Days and transfer all funds and investment property on deposit in such existing Reserve Account into such new Reserve Account. The Reserve Account shall relate solely to the Securities and funds therein shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement. The Indenture Trustee shall make withdrawals from the Reserve Account only for the following purposes: (i) to pay such amounts required to be paid pursuant to Section 2.01(b) of this Agreement; and (ii) to withdraw amounts deposited in the Reserve Account in error. (c) The Indenture Trustee may invest, or cause to be invested, funds held in the Reserve Account in Eligible Investments (which may be obligations of the Indenture Trustee). All such investments must be payable on demand or mature no later than one Business Day prior to the next Payment Date, and shall not be sold or disposed of prior to their maturity. All such Eligible Investments will be made in the name of the Indenture Trustee (in its capacity as such) or its nominee. The amount of any losses incurred in respect of any such investments shall be paid by the Indenture Trustee for deposit in the Reserve Account out of its own funds, without any right of reimbursement therefor, immediately as realized. All income and gain realized from any such investment shall be compensation to the Indenture Trustee and shall be subject to its withdrawal on order from time to time.

The Reserve Account. The Indenture Trustee, for the benefit of the Secured Parties, shall establish and maintain with a Qualified Institution, in the name of the Issuer on behalf of the Indenture Trustee for the benefit of the Secured Parties, a non-interest bearing segregated trust account (the “Reserve Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Secured Parties. The Indenture Trustee shall be the entitlement holder of the Reserve Account, and shall possess all right, title and interest in all moneys, instruments, securities and other property on deposit from time to time in the Reserve Account and the proceeds thereof for the benefit of the Secured Parties. Initially, the Reserve Account will be established with the Securities Intermediary. Funds on deposit in the Reserve Account that are not both deposited and to be withdrawn on the same day shall be invested in Permitted Investments, in accordance with a direction from the Issuer pursuant to Section 5.3(e). That portion of the proceeds of the Notes set forth in Section 3.4 shall be deposited into the Reserve Account. In addition, on any Monthly Payment Date, the Indenture Trustee shall transfer Available Funds to the Reserve Account as and to the extent provided in Article 5 hereof. Moneys in the Reserve Account that constitute Available Funds shall be applied on any Monthly Payment Date as provided in Article 5 hereof.