Pre-Funding Account Sample Clauses

Pre-Funding Account. On the Closing Date, the Depositor shall deposit in the Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any, upon satisfaction of the conditions set forth in Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the result of the aggregate Starting Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the related Cutoff Date and (ii), on behalf of the Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to or upon the order of the Depositor as payment for such Subsequent Receivables. If the Pre-Funded Amount has not been reduced to zero on the Payment Date immediately following the calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining in the Pre-Funding Account to the Note Distribution Account for distribution in accordance with Section 8.02(g) of the Indenture.
Pre-Funding Account. (a) No later than the Closing Date, the Trustee, at the direction of the Servicer, shall establish and maintain, a segregated trust account that is an Eligible Account, which shall be titled “Pre-Funding Account, [ ], as Trustee for the registered holders of NovaStar Mortgage Funding Trust 20[ ]-[ ], Home Equity Loan Asset-Backed Certificates, Series 20[ ]-[ ]” (the “Pre-Funding Account”). The Trustee shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funded Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.
Pre-Funding Account. (a) The Trustee has heretofore established or caused to be established and shall hereafter maintain or cause to be maintained a separate account denominated the Pre-Funding Account, which is and shall continue to be an Eligible Account in the name of the Trustee and shall be designatedJPMorgan Chase Bank, as Trustee of the Renaissance HEL Trust 2003-2 Pre-Funding Account.” The Pre-Funding Account shall be treated as an “outside reserve fund” under applicable Treasury regulations and will not be part of any REMIC. Any Pre-Funding Earnings will be distributed to the Seller on each Pre-Funding Distribution Date; provided, however, that if the final Subsequent Transfer Date occurs after the Distribution Date in a month, on such Subsequent Transfer Date, the Trustee shall (i) transfer the Excess Funding Amount from the Pre-Funding Account to the Distribution Account, (ii) transfer the Pre-Funding Earnings to the Seller and (iii) close the Pre-Funding Account. The amount on deposit in the Pre-Funding Account shall be invested in Eligible Investments at the direction of the Seller in accordance with the provisions of Section 5.05. All investment earnings on funds on deposit in the Pre-Funding Account will be treated as owned by, and will be taxable to, the Seller.
Pre-Funding Account. (a) No later than the Closing Date, the Indenture Trustee shall establish and maintain in the name of the Indenture Trustee one or more segregated trust accounts that are Eligible Accounts, which shall be titled "Pre-Funding Account, Bankers Trust Company of California, N.A., as indenture trustee for the registered holders of PacificAmerica Home Equity Loan Asset Trust Series 1998-1" (the "Pre-Funding Account"). The Indenture Trustee shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre- Funded Amount remitted on the Closing Date to the Indenture Trustee by the Issuer from proceeds of the sale of the Notes. Funds deposited in the Pre-Funding Account shall be held in trust by the Indenture Trustee for the Holders of the Notes and the Note Insurer for the uses and purposes set forth herein. If the Indenture Trustee shall not have received an investment direction from the Issuer, the Indenture Trustee will invest funds deposited in the Pre-Funding Account in Eligible Investments of the kind described in clause (vii) of the definition of Eligible Investments with a maturity date no later than the second Business Day preceding each Payment Date. The Issuer shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Interest Coverage Account on the Business Day immediately preceding each Payment Date. The Issuer shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Eligible Investment immediately upon realization of such loss without any right of reimbursement therefor.
Pre-Funding Account. (a) On the Closing Date, the Trustee will deposit, on behalf of the Seller, in the Pre-Funding Account $14,408,797.22 from the proceeds of the sale of the Notes. On each Subsequent Transfer Date, the Servicer shall instruct the Trustee to withdraw from the Pre-Funding Account an amount equal to the Principal Balance of the Subsequent Receivables transferred to the Issuer on such Subsequent Transfer Date and to distribute such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in this Agreement with respect to such transfer.
Pre-Funding Account. (iii) Establishment of the Pre-Funding Account. The Servicer hereby directs the Trustee, for the benefit of the Series 1996-E Certificateholders and the Collateral Interest Holder, to establish and maintain or cause to be established and maintained in the name of the Trustee, on behalf of the Series 1996-E Certificateholders and the Collateral Interest Holder, an Eligible Deposit Account (the "Pre-Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1996-E Certificateholders and the Collateral Interest Holder. The Sellers do hereby transfer, assign, set over and otherwise convey to the Trustee for the benefit of the Series 1996-E Certificateholders and the Collateral Interest Holder, without recourse, all of their right, title and interest in, to and under the Pre-Funding Account, any Eligible Investments on deposit therein and any proceeds of the
Pre-Funding Account. (a) The Trustee shall establish and maintain the Pre-Funding Account to be held in trust for the benefit of the Certificateholders. The Pre-Funding Account shall be an Eligible Account. On the Closing Date, the Depositor will cause to be deposited in the Pre-Funding Account the Original Pre-Funded Amount.