Principal and Interest Account definition

Principal and Interest Account. The principal and interest account created by the Servicer pursuant to Section 8.08(a) hereof. The Principal and Interest Account shall be an Eligible Account.
Principal and Interest Account. Collectively, each principal and interest account created by the Servicer pursuant to Section 8.8(a) hereof, or pursuant to any Sub-Servicing Agreement.
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.

Examples of Principal and Interest Account in a sentence

  • In addition to the Principal and Interest Account Requirement, there shall be deposited into the Bond Fund any other moneys received by the Trustee under and pursuant to this Indenture, when accompanied by directions from the person depositing such moneys that such moneys are to be paid into the Bond Fund and to one or more accounts therein.

  • Amounts on deposit in the Principal and Interest Account shall be used to pay principal and interest on the Bonds as the same shall become due after funds in the Series Capitalized Interest Account have been depleted.

  • Any amount remaining on deposit in the Series _ Capitalized Interest Account on , 20 , shall be used to pay interest on the Bonds, as the City shall direct, before funds from the Principal and Interest Account are used.

  • For the redemption of any of the Bonds, the City shall cause to be deposited in the Principal and Interest Account moneys sufficient to pay when due the principal of, and premium, if any, and interest on, the Bonds to be redeemed on the redemption date to be applied in accordance with the provisions hereof.

  • Not later than the Deposit Date, there shall be on deposit in the Bond Fund an amount equal to the Principal and Interest Account Requirement.


More Definitions of Principal and Interest Account

Principal and Interest Account. The principal and interest account established by the Servicer pursuant to Section 5.03 hereof.
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.