Interest Reserve Subaccount definition

Interest Reserve Subaccount has the meaning specified in Section 8.02(a) of the Indenture.
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Interest Reserve Subaccount shall have the meaning ascribed to such term in the Cash Management Agreement. "Interest Reserve Subaccount Deficiency" shall mean, on any date of determination, the amount by which the Interest Reserve Target exceeds the amount then on deposit in the Interest Reserve Subaccount. "Land" shall have the meaning ascribed to such term in the Recitals hereof. "Law Change" shall have the meaning ascribed to such term in Section 2.9(c) hereof. "Lease" shall mean any lease now or hereafter on or affecting the Premises, or any part thereof, whether written or oral, and all licenses and other agreements for the use and/or
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Interest Reserve Subaccount shall have the meaning set forth in Section 5.1 of the Collateral Trust Agreement.
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Examples of Interest Reserve Subaccount in a sentence

  • The Collection Account will consist of six subaccounts (which need not be separate bank accounts): a general subaccount (the "General Subaccount"), a reserve subaccount (the "Reserve Subaccount"), an overcollateralization subaccount (the "Overcollateralization Subaccount"), a capital subaccount (the "Capital Subaccount"), an interest reserve subaccount (the "Interest Reserve Subaccount") and a servicer advance subaccount (the "Servicer Advance Subaccount").

  • Prior to the initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, the Interest Reserve Subaccount and the Servicer Advance Subaccount, together with interest earnings thereon) shall be allocated to the General Subaccount.

  • The Collection Account will consist of five subaccounts (which need not be separate bank accounts): a general subaccount (the "General Subaccount"), a reserve subaccount (the "Reserve Subaccount"), an overcollateralization subaccount (the "Overcollateralization Subaccount"), a capital subaccount (the "Capital Subaccount") and an interest reserve subaccount (the "Interest Reserve Subaccount").

  • Prior to the initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount and the Interest Reserve Subaccount, together with interest earnings thereon) shall be allocated to the General Subaccount.

  • Notwithstanding any such direction from the Company, there shall be no adjustment of the Series 2005A Interest Rate on the Bonds to a Flexible Rate unless the Company shall have caused the deposit to the Series 2005A Interest Reserve Subaccount and delivered the opinion or opinions described above.

  • The Trustee shall place the Interest Reserve Funds into a subaccount of the Escrow Account (the "Interest Reserve Subaccount") and the Collateral Funds into a separate subaccount of the Escrow Account (the "Collateral Subaccount").

  • For the avoidance of doubt, all Government Securities in which the Interest Reserve Funds are invested and reinvested shall be held by the Trustee in the Interest Reserve Subaccount of the Escrow Account as part of the Collateral hereunder.

  • The Tax and Interest Reserve Funds shall be held in the Real Estate Tax and Interest Reserve Subaccount until such time as a Bankruptcy Action exists with respect to any Guarantor.

  • Upon payment in full of the first six (6) scheduled interest payments on the Notes, the security interest evidenced by this Agreement in any Collateral remaining in the Interest Reserve Subaccount will terminate and be of no further force and effect.

  • If the Company does not intend to utilize the funds in the Interest Reserve Subaccount to make any such interest payment in full, then the Company shall comply with Section 3(b) below.


More Definitions of Interest Reserve Subaccount

Interest Reserve Subaccount has the meaning specified in Prior to the Issuance Date, the Issuer shall open, at the Trustee's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Trustee's name for the deposit of amounts remitted to the Trustee for deposit therein on the Issuance Date, RRB Charge Payments and other amounts remitted under the Servicing Agreement (collectively, the "Collection Account"). The Trustee shall hold the Collection Account for the benefit of Bondholders, the Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of six subaccounts (which need not be separate bank accounts): a general subaccount (the "General Subaccount"), a reserve subaccount (the "Reserve Subaccount"), an overcollateralization subaccount (the "Overcollateralization Subaccount"), a capital subaccount (the "Capital Subaccount"), an interest reserve subaccount (the "Interest Reserve Subaccount") and a servicer advance subaccount (the "Servicer Advance Subaccount"). All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Prior to the initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, the Interest Reserve Subaccount and the Servicer Advance Subaccount, together with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in this Section 8.02. The Collection Account shall at all times be maintained in an Eligible Deposit Account and only the Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Collection Account as part of the Collateral as herein provided..
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Related to Interest Reserve Subaccount

  • Interest Reserve Account As defined in Section 3.4(d).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-BC3". Funds in the Carryover Reserve Fund 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 under this Agreement.