Capitalized Interest Account. The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 5.2.

Capitalized Interest Account means any Capitalized Interest account with respect to a Series of Bonds established within a Series Debt Service Account so designated in, and created pursuant to, Section 502 hereof and Supplemental Indenture issued under this Master Indenture, as authorized pursuant to this Master Indenture.

Examples of Capitalized Interest Account in a sentence

Amounts set aside to pay capitalized interest on the Funding Loan, including additional capitalized interest deposited by the Borrower in connection with any deposits made pursuant to Section 2.1 hereof or extension of the Completion Deadline, shall be deposited in the subaccount of the Capitalized Interest Account of the Project Fund.
After the Conversion Date, any amounts remaining in the Capitalized Interest Subaccount of the Capitalized Interest Account shall be transferred (i) to the Note Proceeds Account of the Project Fund to the extent such amounts were funded with proceeds of the Funding Loan; and (ii) to the Borrower Equity Account of the Project Fund to the extent such amounts were funded with Borrower Required Equity.
All proceeds of the Funding Loan provided by the Funding Lender shall be deposited to the applicable series subaccount of the Note Proceeds Account of the Project Fund and the Capitalized Interest Account of the Project Fund as directed in writing by the Funds Lender.
The Fiscal Agent shall disburse moneys in the Note Proceeds Account, the Capitalized Interest Account and its subaccount, and the Borrower Equity Account of the Project Fund for the acquisition, construction and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein.

More Definitions of Capitalized Interest Account

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 2.3(h) of the Administration Agreement.

Capitalized Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

Capitalized Interest Account means the account by that name established in the Debt Service Fund pursuant to the Second Resolution.

Capitalized Interest Account. The account established and maintained pursuant to Section 3.18 of the Servicing Agreement.

Capitalized Interest Account. The account established and maintained by the Securities Administrator pursuant to Section 4.07. Such account will not be an asset of any REMIC.

Capitalized Interest Account means the account designated as such and established pursuant to Section 4.01 and maintained pursuant to Section 4.06.