Capitalized Interest Account. The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 5.2.

Capitalized Interest Account means any Capitalized Interest account with respect to a Series of Bonds established within a Series Debt Service Account so designated in, and created pursuant to, Section 502 hereof and Supplemental Indenture issued under this Master Indenture, as authorized pursuant to this Master Indenture.

Examples of Capitalized Interest Account in a sentence

Upon issuance of the XX Xxxxx, there shall be created an Issuance Cost Account and a Capitalized Interest Account for deposit of all bond proceeds in excess of the Net Proceeds made available to the Company.
The Capitalized Interest Account shall be in an amount to pay all capitalized interest on the Bonds through August of 2023.
The Capitalized Interest Account shall be in an amount to pay all Deleted: January Deleted: capitalized interest on the Bonds through August of 2023.
Money in the Capitalized Interest Account shall only be invested in Eligible Investments of the type described in clause (i), (ii), (iii) and (iv) of the definition of the term “Eligible Investments” set forth in Section 1.01 hereto and such investments shall mature no later than the date on which such moneys are required to be used to pay interest on Bonds when due.
Interest earned on and any profit realized from the investment of money in the Capitalized Interest Account will be retained in the Capitalized Interest Account and used to make the transfers described above.

More Definitions of Capitalized Interest Account

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 2.3(h) of the Administration Agreement.

Capitalized Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

Capitalized Interest Account means the account by that name established in the Debt Service Fund pursuant to the Second Resolution.

Capitalized Interest Account. The account established and maintained pursuant to Section 3.18 of the Servicing Agreement.

Capitalized Interest Account. The account established and maintained by the Securities Administrator pursuant to Section 4.07. Such account will not be an asset of any REMIC.

Capitalized Interest Account means the account designated as such and established pursuant to Section 4.01 and maintained pursuant to Section 4.06.