Supplemental Enhancement Account definition
Examples of Supplemental Enhancement Account in a sentence
The parties hereto agree that the Supplemental Enhancement Account shall be governed by the laws of the State of New York, and regardless of any provision in any other agreement, the "securities intermediary's jurisdiction" (within the meaning of Section 8-110 of the UCC) shall be the State of New York.
In no event shall the Trust Collateral Agent be liable for any insufficiency in the Collection Account and the Supplemental Enhancement Account resulting from any investment loss in any Eligible Account.
Upon termination of this Agreement and the payment of all amounts due under this Agreement to the Class A Noteholders, any remaining amounts in the Supplemental Enhancement Account will be distributed to the Class C Certificateholder.
The amount of earnings on investments of funds in the Supplemental Enhancement Account during the Collection Period related to each Payment Date shall be paid to the Class C Certificateholder as the Supplemental Enhancement Account Investment Earnings Amount on each Payment Date, pursuant to Section 5.6(c)(vii) hereof.
All amounts held in the Collection Account and the Supplemental Enhancement Account shall be invested by the Trust Collateral Agent at the written direction of the Transferor in Eligible Investments in the name of the Trust Collateral Agent on behalf of the Issuer and shall mature no later than one Business Day immediately preceding the Payment Date next succeeding the date of such investment.
Withdrawals from Supplemental Enhancement Account and Spread Account..................32 SECTION 5.12.
Upon termination of this Agreement and the payment of all amounts due under this Agreement to the Class A Noteholders, any remaining amounts in the Supplemental Enhancement Account will be distributed to the Class C Certificateholders, pro rata.
Withdrawals from Supplemental Enhancement Account and Spread Account..................39 SECTION 5.12.
The amount of earnings on investments of funds in the Collection Account and the Supplemental Enhancement Account during the Collection Period related to each Payment Date shall be deposited into the Note Account on each Payment Date, and shall be available for payment pursuant to Section 5.6(c).
On any Payment Date (after making all distributions pursuant to Section 5.6(c)(i) through (x) on such Payment Date) on which the Total Enhancement Amount exceeds the Required Total Enhancement Amount, the Trust Collateral Agent shall withdraw the amount of such excess from the Supplemental Enhancement Account and distribute such amount to the Class C Certificateholder.