The Interest Coverage Account Sample Clauses

The Interest Coverage Account. (a) If amounts are required to be deposited in the Interest Coverage Account, no later than the Closing Date, the Trustee shall establish and maintain a segregated non-interest bearing trust account that is an Eligible Account, which shall be titled “Interest Coverage Account, JPMorgan Chase Bank, National Association, as Trustee, in trust for the registered Holders of 2005-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2005-CB8 (the “Interest Coverage Account”). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the amount, if any, 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.
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The Interest Coverage Account. The Indenture Trustee shall establish and maintain the Interest Coverage Account in accordance with the provisions of Section 8.9 of the Indenture.
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The Interest Coverage Account. (a) On behalf of the Trust Fund, the Trustee, as trustee, shall establish and maintain an account, titled the "Interest Coverage Account for the registered holders of Emergent Home Equity Loan Trust 1997-3, Mortgage Pass-Through Certificates, Series 1997-3, Class A-1, Class X-0, Xxxxx X-0, Class A-4, Class A-5, Class A-6 and Class R" (the "Interest Coverage Account"), into which cash will be deposited by the Seller in the amount of $422,828.00 on the Closing Date. The Trustee shall invest amounts on deposit in the Interest Coverage Account in Eligible Investments. The Interest Coverage Account will not be an asset of the REMIC.
Sample 1
The Interest Coverage Account. (a) The Indenture Trustee shall establish and maintain with itself a separate trust account (the "Interest Coverage Account") entitled "First Union National Bank as Indenture Trustee, in trust for the registered holders of Emergent Home Equity Loan Trust 1997-4 Asset Backed Notes, Series 1997-4 Interest Coverage Account." Such account shall be an Eligible Account. Upon receipt of the proceeds of the sale of the Notes on the Closing Date, the Issuer shall, from the proceeds of the sale of the Notes, deposit, on behalf of the Noteholders, in the Interest Coverage Account the amount of $__________. Funds in the Interest Coverage Account shall be invested in Permitted Investments, at the direction of the Servicer, in accordance with Section 8.12 hereof. The Indenture Trustee shall give notice to the Issuer, the Servicer and the Insurer of the location of the Interest Coverage Account when established and prior to any change thereof. [The Interest Coverage Account will not be an asset of the REMIC.]
Sample 1

Related to The Interest Coverage Account

  • Interest Coverage As of the end of any fiscal quarter, the Borrowers will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Cash Interest Expense for the four (4) consecutive fiscal quarters then ending to be less than 4.25:1.

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • The Investment Account; Eligible Investments (a) Not later than the Withdrawal Date, the Master Servicer shall withdraw or direct the withdrawal of funds in the Custodial Accounts for P&I, for deposit in the Investment Account, in an amount representing:

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