Rounding Account definition

Rounding Account. Not applicable.

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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.

• In addition, the Trustee on each Distribution Date shall, based upon information provided by the Master Servicer for the related Distribution Date, withdraw funds from the Certificate Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(i).

• 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.

• On each Distribution Date on which a distribution is made in reduction of the Class Principal Balance of a Class of Special Retail Certificates, funds on deposit in the related Special Retail Rounding Account shall be, to the extent needed, withdrawn by the Trust Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Principal Balance to be made on such Class of Special Retail Certificates.

• Rounding of such distribution on such Class of Special Retail Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the related Special Retail Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Principal Balance of such Class of Special Retail Certificates upward to the next integral multiple of $1,000.

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. The separate trust account established by the deposit as of the Closing Date of $999.99 and maintained by the Trustee pursuant to Section 3.21, 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 Class A-9 Certificateholders, or any other account serving a similar function acceptable to each Rating Agency, and which account provides that the Trustee may make, or cause to be made, withdrawals as provided in Section 3.21 hereof.

Rounding Account. With respect to the Insured Retail Certificates, the account created and maintained pursuant to Section 4.8(e).

Rounding Account. With respect to the Insured Certificates, the account created and maintained for such Insured Certificates pursuant to Section 6.09.

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 established by the Credit Suisse First Boston LLC with respect to each Class of Retail Lottery Certificates as of the Closing Date each with a deposit of $999.99 and maintained by the Trustee or the Certificate Registrar pursuant to Section 3.21, 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 each Class of Retail Lottery Certificateholders, or any other account serving a similar function acceptable to each Rating Agency, and which account provides that the Trustee or the Certificate Registrar may make, or cause to be made, withdrawals as provided in Section 3.21 hereof.