Interest Coverage Accounts definition

Interest Coverage Accounts. The Group I Interest Coverage Account and the Group II Interest Coverage Account.
Sample 1Sample 2Sample 3
Interest Coverage Accounts the Master Servicer Prepayment Charge Payment Amounts and any Subsequent Mortgage Loan Interest.
Sample 1
Interest Coverage Accounts. The Group 1 Interest Coverage Account and the Group 2 Interest Coverage Account established and maintained pursuant to Section 3.27 of the Indenture.
Sample 1

Examples of Interest Coverage Accounts in a sentence

  • Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

  • For federal income tax purposes, the Seller shall be the owner of the Interest Coverage Accounts and shall report all items of income, deduction, gain or loss arising therefrom.

  • For federal income tax purposes, the Company shall be the owner of the Interest Coverage Accounts and shall report all items of income, deduction, gain or loss arising therefrom.

  • As provided herein, the Trustee will make an election to treat the Trust Fund (other than the Pre-Funding Accounts and the Interest Coverage Accounts) as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes.

  • The Depositor herewith delivers to the Trustee an executed copy of the Mortgage Loan Purchase Agreement, the Original Pre-Funded Amounts and the required deposit to the Interest Coverage Accounts, and the Trustee, on behalf of the Certificateholders and the Certificate Insurer, acknowledges receipt of the same.

  • The Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in five classes (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund (as defined herein), consisting primarily of the Mortgage Loans, the Pre-Funding Accounts and the Interest Coverage Accounts (each, as defined herein).

  • The Depositor herewith delivers to the Trustee the Original Pre-Funded Amounts, the required deposit to the Interest Coverage Accounts and an executed copy of the Mortgage Loan Purchase Agreement, and the Trustee, on behalf of the Certificateholders, acknowledges receipt of the same.

  • The Trust Fund will consist of a segregated pool of assets consisting of the Mortgage Loans, the Pre-Funding Accounts and the Interest Coverage Accounts and certain other related assets subject to this Agreement.

  • The Depositor herewith delivers to the Trustee the Original Pre-Funded Amounts, the required deposit to the Interest Coverage Accounts, an executed copy of the Mortgage Loan Purchase Agreement and the Trustee, on behalf of the Certificateholders, acknowledges receipt of the same.

  • The Depositor herewith delivers to the Trustee an executed copy of the Mortgage Loan Purchase Agreement, the PMI Policy, the Original Pre-Funded Amounts and the required deposits to the Interest Coverage Accounts and the Trustee, on behalf of the Certificateholders, acknowledges receipt of the same.

Related to Interest Coverage Accounts

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Interest Cover means the ratio of EBITDA to Net Finance Charges in respect of any Relevant Period.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Collection Accounts As defined in Section 3.10(a).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2005-5, Home Equity Pass-Through Certificates, Series 2005-5. Funds in the Prefunding Account 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 hereunder; provided, however, that any investment income earned from Eligible Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.