Rounding Account definition

Rounding Account. Not applicable.
Rounding Account. As defined in Section 3.23.
Rounding Account. The special account established with the Trustee and maintained by the Trustee pursuant to Section 4.07(e). The Rounding Account shall be an Eligible Account.

Examples of Rounding Account in a sentence

  • Amounts on deposit in the Rounding Account shall not be invested.

  • The proceeds remaining in any related Retail Rounding Account (as described in Appendix IV to the Offering Circular) after the principal amounts of all related Classes have been paid in full shall be distributed in accordance with the provisions of Section 4.09.

  • Nandi, S., "A detailed model of induction machines with saturation extendable for fault analysis", Industry Applications, IEEE Transactions on, Vol.

  • The Registrar then rounds the remainder of the principal payment upward to the next multiple of $1,000, by making another withdrawal from the Retail Rounding Account, and pays this amount on the Retail Class.

  • If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the applicable Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer.


More Definitions of Rounding Account

Rounding Account. With respect to the Insured Certificates, the account created and maintained for such Insured Certificates pursuant to Section 4.09.
Rounding Account. With respect to each Class of Designated Retail Certificates, the respective segregated, non-interest bearing Eligible Account created and maintained therefor pursuant to Section 4.10.
Rounding Account. With respect to the Insured Retail Certificates, the account created and maintained pursuant to Section 4.8(e).
Rounding Account. The separate trust account established by deposit as of the Closing Date of $999.99 and maintained by the Servicer pursuant to Section 5.29, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trustee on behalf of the Holders of Class A-9 Certificates, or any other account serving a similar function acceptable to the Rating Agencies, and which account provides that the Servicer may make, or cause to be made, withdrawals as provided in Section 5.29 hereof.
Rounding Account. The separate Eligible Account established and maintained by the Trustee pursuant to Section 4.03(f) in the name of the Trustee for the benefit of the Class A-6 Certificateholders and designated "The Bank of New York in trust for registered holders of CHL Mortgage Pass-Through Trust 2002-36, Mortgage Pass-Through Certificates, Series, 2002-36, Class A-6." Funds in the Rounding Account shall be held in trust for the Class A-6 Certificateholders for the uses and purposes set forth in this Agreement. The Rounding Account will not be a part of the Trust Fund or any REMIC created hereunder and, for all federal income tax purposes, will be beneficially owned by Banc of America Securities LLC.
Rounding Account. The separate trust account maintained with the Trustee pursuant to Section 3.22, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A-3 Certificateholders, or any other account serving a similar function acceptable to the Rating Agencies, and which account provides that the Trustee may make, or cause to be made, withdrawals as provided in Section 3.22 hereof, to the extent of the amount then remaining in the Rounding Account.
Rounding Account. With respect to the Insured Certificates, the account created and maintained for such Insured Certificates pursuant to Section 6.09.