Swap Account definition

Swap Account. The account or accounts created and maintained pursuant to Section 4.09. The Swap Account must be an Eligible Account.

Swap Account. As defined in Section 4.06.

Swap Account. The account created pursuant to Section 5.07(a) of this Agreement.

Examples of Swap Account in a sentence

• The Swap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.

• In the event that the Swap Account and proceeds thereof should be insufficient to satisfy all claims outstanding and following the realization of the Swap Account and the proceeds thereof, any claims against or obligations of Counterparty under the ISDA Form Master Agreement or any other confirmation thereunder still outstanding shall be extinguished and thereafter not revive.

• For federal income tax purposes, each holder of a Class A or Mezzanine Certificate is deemed to own an undivided beneficial ownership interest in a REMIC regular interest and the right to receive payments from either the Net WAC Rate Carryover Reserve Account or the Swap Account in respect of the Net WAC Rate Carryover Amount or the obligation to make payments to the Swap Account.

• On any Distribution Date, Swap Termination Payments, Net Swap Payments owed to the Swap Provider and Net Swap Receipts for that Distribution Date will be deposited into the Swap Account.

• Section 4.06 Swap Account.................................................

More Definitions of Swap Account

Swap Account. The separate Eligible Account created and initially maintained by the Swap Trustee pursuant to Section 4.09.

Swap Account. The separate trust account created and maintained by the Swap Administrator, and held within the Supplemental Interest Trust, pursuant to the Swap Administration Agreement. Swap Administrator: LaSalle acting as swap administrator under the Swap Administration Agreement.

Swap Account. The separate trust account created and maintained by the Trustee.

Swap Account. The separate Eligible Account created and maintained by the Supplemental Interest Trust Trustee pursuant to Section 6.01(m) in the name of the Supplemental Interest Trust Trustee for the benefit of the Supplemental Interest Trust and designated "Xxxxx Fargo Bank, N.A., as supplemental interest trust trustee, in trust for registered holders of Xxxxxxx Xxxxx Alternative Note Asset Trust, Series 2007-OAR4." Funds in the Swap Account shall be held in trust for the Supplemental Interest Trust for the uses and purposes set forth in this Agreement.

Swap Account. A segregated trust account established and maintained by the Trust Administrator pursuant to Section 4.06 of this agreement in which payments owed to or received from, the Swap Provider will be deposited.

Swap Account. The sub-account of the Supplemental Interest Trust Account created pursuant to Section 4.06(a).

Swap Account. The trust account created pursuant to Section 4.06 of this Agreement consisting of the Interest Rate Swap Agreement, the Class IO Interest and the right to receive Class IO Shortfalls, subject to the obligation to pay amounts specified in Section 4.06.