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.

• 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).

• 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.

• The Trustee on each Distribution Date shall, based upon information provided by the Master Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay the Rounding Amount to the Holders of the Insured Certificates pursuant to Section 4.02(i).

• Any amounts withdrawn by the Trustee from any Rounding Account shall be deposited in the Certificate Account for Group 1 for distribution to the Holders of the Special Retail Certificates as described in the preceding paragraph.

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 Retail Certificates, the account created and maintained for such Retail Certificates pursuant to Section 4.10.

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 1-A-3 Certificateholders and designated "The Bank of New York in trust for registered holders of Alternative Loan Trust 2005-34CB, Mortgage Pass-Through Certificates, Series 2005-34CB, Class 1-A-3." Funds in the Rounding Account shall be held in trust for the Class 1-A-3 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 Deutsche Bank Securities Inc.

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-3 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. 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 1-A-6 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.