Interest Coverage Account. (a) No later than the Closing Date, the Trustee will establish and maintain, pursuant to the Pooling and Servicing Agreement the Interest Coverage Account. On the Closing Date, the Seller will deposit in the Interest Coverage Account the Interest Coverage Amount from the net proceeds of the sale of the Underwritten Certificates.
Appears in 3 contracts
Samples: Mortgage Loan Purchase Agreement (Novastar Mortgage Funding Trust, Series 2005-4), Mortgage Loan Purchase Agreement (NovaStar Certificates Financing CORP), Mortgage Loan Purchase Agreement (NovaStar Certificates Financing LLC)
Interest Coverage Account. (a) No later than the Closing Date, the Trustee Certificate Administrator will establish and maintain, on behalf of the Trustee, pursuant to the Pooling and Servicing Agreement the Interest Coverage Account. On the Closing Date, the Seller Trustee will deposit in the Interest Coverage Account the Interest Coverage Amount from the net proceeds of the sale of the Underwritten Certificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp), Mortgage Loan Purchase Agreement (Novastar Mortgage Funding Corp)
Interest Coverage Account. (a) No later than the Closing Date, the Trustee Certificate Administrator will establish and maintain, on behalf of the Trustee, pursuant to the Pooling and Servicing Agreement the Interest Coverage Account. On the Closing Date, the Seller will deposit in the Interest Coverage Account the Interest Coverage Amount from the net proceeds of the sale of the Underwritten Certificates.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (Novastar Mortgage Funding Trust Series 2002-1), Mortgage Loan Purchase Agreement (Novastar Mortgage Funding Corp Trust Series 2002-3)
Interest Coverage Account. (a) No later than the Closing Date, the Trustee will establish and maintain, pursuant to the Pooling and Servicing Agreement the Interest Coverage Account. On the Closing Date, the Seller Sponsor will deposit in the Interest Coverage Account the Interest Coverage Amount from the net proceeds of the sale of the Underwritten Certificates.
Appears in 1 contract
Samples: Purchase Agreement (NovaStar Certificates Financing CORP)
