Definition of Pre-Funding Account
Examples of Pre-Funding Account in a sentence
At no time will the Pre-Funding Account be an asset of any REMIC created hereunder.
Distributions to Noteholders from certain withdrawals from the Pre-Funding Account: Amount withdrawn from the Pre-Funding Account as a result of the Pre-Funded Amount not being reduced to zero on the Distribution Date on or immediately preceding the end of the Funding Period.
Funds deposited in the Pre-Funding Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.
The Trustee shall establish and maintain, on behalf of the Certificateholders, the Pre-Funding Account.
For federal income tax purposes, the Depositor shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom.