Principal Reserve Fund definition

Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 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 2006-22". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(c) in the name of the Trustee for the benefit of the Holders of the Class P Certificates and designated “The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2007-OA10, Mortgage Pass-Through Certificates, Series 2007-OA10.” Funds in the Principal Reserve Fund shall be held in trust for the Holders of the Class P Certificates for the uses and purposes set forth in this Agreement.

Principal Reserve Fund. A separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05(h) with a depository institution in the name of the Trustee for the benefit of the Class P Certificateholders specified in Section 3.05(h) and designated "The Bank of New York, Principal Reserve Fund in trust for registered holders of CWALT 2006-OA9 Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-OA9, Class P."

Examples of Principal Reserve Fund in a sentence

• Revenue Account Subject to the provisions of the Assignment, the Corporation shall cause all Pledged Receipts, excluding all amounts to be deposited pursuant to the Resolution in the Principal Reserve Fund, to be deposited promptly with the Trustee in the Revenue Account.

• If no Principal Reserve Fund Deposit Schedule is attached to the Note, no such redemption shall occur.

• Investment Income earned on amounts on deposit in the Principal Reserve Fund shall be retained in the Principal Reserve Fund.

• Establishment of Accounts The Resolution establishes the following special trust accounts to be held and maintained by the Trustee in accordance with the Resolution: (1) Bond Proceeds Account; (2) Revenue Account (including the Credit Facility Payments Sub-Account therein); (3) Redemption Account; and (4) Principal Reserve Fund.

• See “DESCRIPTION OF THE 2004 BONDS – Redemption of 2004 Bonds – Mandatory – Mandatory Redemption From Certain Recoveries of Principal.” Also, under certain circumstances, the Credit Facility Provider can require that amounts on deposit in the Principal Reserve Fund be applied to reimburse the Credit Facility Provider for amounts advanced under the Letter of Credit to effect the mandatory tender or mandatory redemption in whole or in part of the 2004 Bonds.

More Definitions of Principal Reserve Fund

Principal Reserve Fund means the Eligible Account established and maintained by the Indenture Trustee pursuant to Section 8.01(d) of the Indenture.

Principal Reserve Fund means the Eligible Account established and maintained by the Indenture Trustee pursuant to Section 8.01(d).

Principal Reserve Fund means the Principal Reserve Fund established pursuant to the Resolution.

Principal Reserve Fund means the Principal Reserve Fund established pursuant to Section 8.2.

Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(d) 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 2002-BC1". Funds in the Principal 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. Any investment income earned from Permitted Investments made with funds in the Capitalized Interest Account will be for the account of the Seller.

Principal Reserve Fund. Not applicable.

Principal Reserve Fund means the Principal Reserve Fund established by the Trustee pursuant to Section 4.01 hereof.