Prefunding Account Sample Clauses

Prefunding Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designatedU.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2005-7, Home Equity Pass-Through Certificates, Series 2005-7. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Eligible Investments made with funds in the Prefunding Account shall be for the account of the Depositor.
Prefunding Account. (a) Pursuant to Section 4.01, the Servicer shall establish the Prefunding Account in the name of the Indenture Trustee for the benefit of the Noteholders and the Insurer.
Prefunding Account. On or prior to the Closing Date, the Securities Administrator shall establish and maintain, on behalf of the Certificateholders, the Prefunding Account. On the Closing Date the Depositor shall remit the Prefunded Amount to the Securities Administrator for deposit in the Prefunding Account. From the Prefunded Amount, the Group 1 Prefunded Amount and the Group 2 Prefunded Amount shall be applied to the purchase of Subsequent Mortgage Loans for Loan Group 1 and Loan Group 2, respectively. On each Subsequent Transfer Date, upon satisfaction of the conditions for such Subsequent Transfer Date set forth in Section 2.01(b), with respect to the related Subsequent Transfer Agreement, the Securities Administrator shall remit to the Depositor the applicable Aggregate Subsequent Transfer Amount as payment of the purchase price for the related Subsequent Mortgage Loans. If any funds remain in the Prefunding Account at the end of the Prefunding Period, to the extent that they represent earnings on the amounts originally deposited into the Prefunding Account, the Securities Administrator shall distribute them to the order of the Depositor. The remaining funds shall be transferred to the Distribution Account to be included as part of principal distributions to the Certificates on the Distribution Date in the month following the end of the Prefunding Period. Each institution at which the Prefunding Account is maintained shall either hold such funds on deposit uninvested or shall invest the funds therein in Permitted Investments as directed in writing by the Depositor, which shall mature not later than the Business Day immediately preceding a Subsequent Transfer Date and shall not be sold or disposed of prior to its maturity. In the absence of direction, such funds shall be invested in the Wells Fargo Advantage Prime Investment Money Market Fund or comparable investment vehicle, or remain uninvested. All such Permitted Investments shall be made in the name of the Trustee, for the benefit of the Certificateholders. All income and gain net of any losses realized from any such balances or investment of funds on deposit in the Prefunding Account shall be for the benefit of the Depositor and shall be remitted to it monthly. The amount of any net investment losses in the Prefunding Account shall promptly be deposited by the Depositor in the Prefunding Account. The Securities Administrator in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect...
Prefunding Account. (a) If a Prefunding Account is specified in Article I, the Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account the Prefunding Account Deposit from the proceeds of the sale of the Offered Certificates. Subject to this Section, upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Depositor shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Subsequent Purchase Price for the Subsequent Mortgage Loans to be included in each Mortgage Loan Group and make a corresponding reduction in the amount on deposit in the Prefunding Account allocated to such Mortgage Loan Group, and to pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.
Prefunding Account. 65 SECTION 4.08. REQUIREMENTS RELATING TO PREFUNDING ACCOUNT...........................66 ARTICLE V - THE SELLER......................................................................66 SECTION 5.01. LIABILITY OF SELLER; INDEMNITIES......................................66 SECTION 5.02. MERGER OR CONSOLIDATION OF, OR ASSUMPTION OF THE OBLIGATIONS OF, SELLER; CERTAIN LIMITATIONS...........................................66 SECTION 5.03. LIMITATION ON LIABILITY OF SELLER AND OTHERS..........................67 SECTION 5.04. SELLER NOT TO RESIGN..................................................67 SECTION 5.05. SELLER MAY OWN NOTES..................................................67
Prefunding Account. 65 Section 3.17 Capitalized Interest Account...............................................................66 Section 3.18 [Reserved].................................................................................66 Section 3.19 [Reserved].................................................................................66 Section 3.20 [Reserved].................................................................................66 Section 3.21 Net Rate Cap Fund..........................................................................66 Section 3.22 Covenants and Representations Regarding Prepayment Charges.................................67 Section 3.23 Claims Upon the PMI Policy.................................................................68 ARTICLE IV
Prefunding Account. The Indenture Trustee shall cause to be established and maintained an account (the “Prefunding Account”) for the benefit of the Secured Parties. On the Closing Date, the Issuer shall cause to be deposited in the Prefunding Account an amount equal to the Prefunding Account Initial Deposit from the proceeds of the sale of the Notes. The Prefunding Account shall be an Eligible Bank Account initially established at the Corporate Trust Office of the Indenture Trustee, bearing the following designation “Sunterra Owner Trust 2004-1 — Prefunding Account, Wells Fargo Bank, National Association, as Indenture Trustee for the benefit of the Secured Parties.” The Indenture Trustee on behalf of the Secured Parties shall possess all right, title and interest in all funds on deposit from time to time in the Prefunding Account and in all proceeds thereof. The Prefunding Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Secured Parties as their interests appear in the Trust Estate. If, at any time, the Prefunding Account ceases to be an Eligible Bank Account, the Indenture Trustee shall within two (2) Business Days establish a new Prefunding Account which shall be an Eligible Bank Account, transfer any cash and/or any investments to such new Prefunding Account and from the date such new Prefunding Account is established, it shall be the “Prefunding Account”. Amounts on deposit in the Prefunding Account shall be invested in accordance with Section 3.1 hereof. Withdrawals and payments from the Prefunding Account shall be made in the following manner:
Prefunding Account. (i) On the Closing Date, the Seller shall deposit the Prefunding Account Closing Date Deposit into the Prefunding Account as required by Section 2.01(b) of the Loan Sale Agreement.
Prefunding Account. (a) The Trust shall establish, or shall cause to be established, on or before the Closing Date, and shall maintain in the name of the Indenture Trustee at an Eligible Institution (which shall initially be the Indenture Trustee) a segregated trust account designated as the Prefunding Account (the “Prefunding Account”). The Prefunding Account shall be held in trust for the benefit of the Insurer and the Noteholders. The Prefunding Account shall be under the sole dominion and control of the Indenture Trustee; provided, however, that the Servicer may make deposits to and direct the Indenture Trustee in writing to make withdrawals from the Prefunding Account in accordance with this Agreement and the Indenture. All monies deposited from time to time in the Prefunding Account pursuant to this Agreement shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement. All deposits to and withdrawals from the Prefunding Account shall be made only upon the terms and conditions of the Transaction Documents.
Prefunding Account. (a) The Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account: (i) the Fixed Rate Group Prefunding Account Deposit from the proceeds of the sale of the Fixed Rate Group Certificates and (ii) the Adjustable Rate Group Prefunding Account Deposit from the proceeds of the sale of the Adjustable Rate Group Certificates. Subject to Section 3.16(d), upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Seller shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Fixed Rate Group Subsequent Purchase Price for the Subsequent Mortgage Loans bearing fixed Mortgage Loan Rates to be included in the Fixed Rate Group and make a corresponding reduction in the amount of the Fixed Rate Group Prefunding Account Deposit and (ii) an amount equal to the Adjustable Rate Group Subsequent Purchase Price for the Subsequent Mortgage Loans bearing adjustable Mortgage Loan Rates to be included in the Adjustable Rate Group and make a corresponding reduction in the amount of the Adjustable Rate Group Prefunding Account Deposit, and to pay such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.