Common use of The Capitalized Interest Account Clause in Contracts

The Capitalized Interest Account. (a) The Securities Administrator, as Paying Agent, for the Trustee, shall establish and maintain an Eligible Account, to be held in trust for the benefit of Certificateholders, entitled "Capitalized Interest Account of HSBC Bank, USA, as Trustee, for the benefit of Sequoia Mortgage Trust 2003-2 Holders of Mortgage Pass-Through Certificates." On the Closing Date, the Depositor shall cause to be deposited in the Capitalized Interest Account the Original Capitalized Interest Amount. On each Distribution Date, funds in the Capitalized Interest Account equal to the Capitalized Interest Requirement for such Distribution Date shall be withdrawn by the Securities Administrator from the Capitalized Interest Account and deposited into the Distribution Account as required by Section 5.02(a).

The Capitalized Interest Account. (a) The Securities Administrator, as Paying Agent, for the Trustee, shall establish and maintain an Eligible Account, to be held in trust for the benefit of Certificateholders, entitled "Capitalized Interest Account of HSBC Bank, USA, as Trustee, for the benefit of Sequoia Mortgage Trust 2003-2 11 Holders of Mortgage Pass-Through Certificates." On the Closing Date, the Depositor shall cause to be deposited in the Capitalized Interest Account the Original Capitalized Interest Amount. On each Distribution Date, funds in the Capitalized Interest Account equal to the Capitalized Interest Requirement for such Distribution Date shall be withdrawn by the Securities Administrator from the Capitalized Interest Account and deposited into the Distribution Account as required by Section 5.02(a).

The Capitalized Interest Account. (a) The Securities Administrator, as Paying Agent, for the Trustee, shall establish and maintain an Eligible Account, to be held in trust for the benefit of Certificateholders, entitled "Capitalized Interest Account of HSBC Bank, USA, as Trustee, for the benefit of Sequoia Mortgage Trust 2003-2 7 Holders of Mortgage Pass-Through Certificates." On the Closing Date, the Depositor shall cause to be deposited in the Capitalized Interest Account the Original Capitalized Interest Amount. On each Distribution Date, funds in the Capitalized Interest Account equal to the Capitalized Interest Requirement for such Distribution Date shall be withdrawn by the Securities Administrator from the Capitalized Interest Account and deposited into the Distribution Account as required by Section 5.02(a).

The Capitalized Interest Account. (a) The Securities Administrator, as Paying Agent, for the Trustee, shall establish and maintain an Eligible Account, to be held in trust for the benefit of Certificateholders, entitled "Capitalized Interest Account of HSBC Bank, USA, as Trustee, for the benefit of Sequoia Mortgage Trust 2003-2 1 Holders of Mortgage Pass-Through Certificates." On the Closing Date, the Depositor shall cause to be deposited in the Capitalized Interest Account the Original Capitalized Interest Amount. On each Distribution Date, funds in the Capitalized Interest Account equal to the Capitalized Interest Requirement for such Distribution Date shall be withdrawn by the Securities Administrator from the Capitalized Interest Account and deposited into the Distribution Account as required by Section 5.02(a).