Interest Account definition

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

Interest Account means the account by that name established and held by the Trustee pursuant to Section 4.03(a).

Interest Account means an interest-bearing account described as such in the name of the Issuer with the Account Bank into which Interest Proceeds are to be paid.

Examples of Interest Account in a sentence

• All money in the Interest Account shall be used and withdrawn by the Trustee solely for the purpose of paying the interest on the Bonds as it shall become due and payable (including accrued interest on any Bonds purchased or redeemed prior to maturity).

• No deposit need be made in the Interest Account if the amount contained therein and available to pay interest on the Bonds is at least equal to the aggregate amount of interest becoming due and payable on all Outstanding Bonds on such Interest Payment Date.

• On or before each Interest Payment Date, the Trustee shall set aside from the Revenue Fund and deposit in the Interest Account that amount of money which is equal to the amount of interest becoming due and payable on all Outstanding Bonds on such Interest Payment Date.

• Valuation Date means any day on which the amount of the Guaranteed Interest Account is determined by MassMutual.

• General Account Assets means the sum of the amount of the Guaranteed Interest Account and all other amounts held under the Agreement in MassMutual’s general investment account.

More Definitions of Interest Account

Interest Account means the interest-bearing account for the Trust’s assets maintained with the Depository pursuant to the Deposit Account Agreement.

Interest Account means the account by that name within the Bond Fund established pursuant to Section 5.02.

Interest Account has the meaning ascribed thereto in Section 10.1(h);

Interest Account means the account by that name established in the Revenue Fund pursuant to Section 5.02.

Interest Account means an interest-bearing account of the Issuer with the Account Bank into which Interest Proceeds are to be paid.

Interest Account means a hypothetical investment account bearing interest at the rate of one hundred and twenty percent (120%) of the applicable federal long-term rate, compounded annually, and set as of the first day of each Plan Year.

Interest Account shall have the meaning given to that term in Subparagraph 2.07(b).