Examples of Principal and Interest Account in a sentence

This Certificate is limited in right of payment to certain collections and recoveries relating to the Home Equity Loans and amounts on deposit in the Certificate Account and the Principal and Interest Account (except as otherwise provided in the Pooling and Servicing Agreement), as more specifically set forth hereinabove and in the Pooling and Servicing Agreement.
In connection with such purchase, the Servicer shall remit to the Trustee all amounts then on deposit in the Principal and Interest Account for deposit to the Certificate Account, which deposit shall be deemed to have occurred immediately preceding such purchase.
This Certificate is limited in right of payment to certain collections and recoveries relating to the Home Equity Loans and amounts on deposit in the Certificate Account and the Principal and Interest Account (except as otherwise provided in the Pooling and Servicing Agreement).
If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall immediately be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder.
The Servicer shall notify the Trustee and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account.

More Definitions of Principal and Interest Account

Principal and Interest Account means, for a loan that constitutes Revenue-Secured Debt, the account created in the loan fund to be first used to repay the principal of and interest on the loan.

Principal and Interest Account means the Account in the Bond Fund established pursuant to Section 6.1 of this Indenture.

Principal and Interest Account means the account by that name created in Section 5.01.

Principal and Interest Account means the interest bearing trust account so designated and established and maintained pursuant to Section 7.03.

Principal and Interest Account means the Principal and Interest Account created within the City’s Capital Project Fund pursuant to Article IV hereof, which is created and shall be held and administered solely for the purpose of receiving and disbursing funds for the payment of the Notes.

Principal and Interest Account means the account of that name created in the Bond Fund for the payment of the principal of and interest on the Parity Bonds.

Principal and Interest Account. The principal and interest account established and maintained by the Servicer pursuant to Section 4.08(a) hereof.