Common use of Interest Coverage Account Clause in Contracts

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Bank Minnesota, N.A., as xxxxtee for the registered holders of Option One Mortgage Loan Trust 2000-3, Asset-Backed Certificates, Series 2000-3" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3)

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Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Bank Minnesota, N.A., as xxxxtee ax xxxstee for the registered holders of Option One Mortgage Loan Trust 20002001-3, Asset-Backed Certificates, Series 20002001-3" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Ln Trust Asset Back Certs Ser 2001-3)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Bank Minnesota, N.A., as xxxxtee for the registered holders of Option One Mortgage Loan Trust 2000-34, Asset-Backed Certificates, Series 2000-34" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp Ass Back Cert Ser 2000 4)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Norwest Bank Minnesota, N.A.National Association, as xxxxtee Trustee for the registered holders of Option One Ameriquest Mortgage Loan Trust 2000Securities Inc., Floating Rate Mortgage Pass-3, Asset-Backed Through Certificates, Series 2000-32" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Floating Rate Mort Pass Through Cert Series 2000-1)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Norwest Bank Minnesota, N.A.National Association, as xxxxtee trustee for the registered holders of Option One Mortgage Loan Trust 2000-31, Asset-Backed Certificates, Series 2000-31" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Wxxxx Fargo Bank Minnesota, N.A., as xxxxtee trustee for the registered holders of Option One Mortgage Loan Trust 20002001-32, Asset-Backed Certificates, Series 20002001-32" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-2)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Norwest Bank Minnesota, N.A.National Association, as xxxxtee Trustee for the registered holders of Option One Salomon Brothers Mortgage Loan Trust 2000Securities VII, Inc., Floating Rate Mortgage Pass-3, Asset-Backed Through Certificates, Series 20001999-3AQ2" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1999-Aq2)

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Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Xxxxx Fargo Bank Minnesota, N.A.National Association, as xxxxtee trustee for the registered holders of Option One Mortgage Loan Trust 20002002-32, Asset-Backed Certificates, Series 20002002-32" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-2)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Norwest Bank Minnesota, N.A.National Association, as xxxxtee trustee for the registered holders of Option One Mortgage Loan Trust 20001999-3, Asset-Backed Certificates, Series 20001999-3" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Ln Tr 1999-3 Asset Backed Cert Ser 1999-3)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Fargo Bank Minnesota, N.A., as xxxxtee for the registered holders of Option One Mortgage Loan Trust 20002001-31, Asset-Backed Certificates, Series 20002001-31" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2001-1)

Interest Coverage Account. (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, Wells Xxxxx Fargo Bank Minnesota, N.A., as xxxxtee trustee for the registered holders of Option One Mortgage Loan Trust 20002001-34, Asset-Backed Certificates, Series 20002001-34" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Acc Corp Asset Backed Cert Ser 2001-4)

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