Common use of Capitalized Interest Account Clause in Contracts

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 1997-2." On the Remittance Date occurring in April 1997, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum of the Class A Formula Distribution Amount, plus the Class M-1 Formula Distribution Amount, plus the Class B-1 Formula Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

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Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 500,000 received from the Company Seller pursuant to Section 2.02(s2.02(u). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19972000-25." On the Remittance Date Dates occurring in April 1997November 2000 and December 2000, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two Corp.-Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--TwoCorp.-Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.be

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 150,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 1997-23." On the Remittance Date occurring in April June 1997, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum of the Class A Formula Distribution Amount, plus the Class M-1 Formula Distribution Amount, plus the Class B-1 Formula Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April June 1997 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be Trust with an Eligible AccountInstitution, and shall deposit 8-7 therein $1,500,000 725,000 received from the Company pursuant to Section 2.02(s2.02(r). The Capitalized Interest Account shall be entitled "Firstar Trust Company Norwest Bank Minnesota, National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971996-2." On the Remittance Date occurring in April 19971996, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum of the Class A Formula Distribution Amount, plus the Class M-1 Formula Distribution Amount, Amount plus the Class B-1 Formula Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance DateDate occurring in April 1996. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 1996 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 250,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971998-25." On the Remittance Date occurring in April 1997August 1998, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, and third to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 August 1998 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 1,100,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 1997-28." On the Remittance Date Dates occurring in April 1997January and February 1998, if the Monthly Report for such Remittance Date indicates shall indicate whether that portion of the Amount Available consisting solely of payments in respect of interest on the Contracts is less than the sum of sufficient to pay the Class A Formula A-1 Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount. If the Monthly Report indicates a deficiency, the Trustee shall withdraw the amount of such the deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds amount in the Certificate Account for distribution on such the applicable Remittance Date in accordance order to pay any such deficiency first with Section 8.03respect to the Class A-1 Certificates, second with respect to the Class M-1 Certificates, and third with respect to the Class B-1 Certificates. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 March 1998 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 4,750,000 received from the Company Seller pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971999-26." On the Remittance Date Dates occurring in April 1997January 2000 and February 2000, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is not sufficient to pay the Class A Formula A-1 Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A-1 Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 February 2000 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be Trust with an Eligible AccountInstitution, and shall deposit therein $1,500,000 300,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971996-29." On the Remittance Date occurring in April 1997December 1996, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum of the Class A Formula Distribution Amount, plus the Class M-1 Formula Distribution Amount, plus the Class B-1 Formula Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two Corp. - Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--TwoCorp. - Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two Corp. - Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--TwoCorp. - Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 December 1996 shall be distributed to Green Tree Finance Corp.-- Corp. - Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on or such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two Corp. -- Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 2,100,000 received from the Company Seller pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19972000-21." On the Remittance Date Dates occurring in April 19972000 and May 2000, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two Corp.-Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--TwoCorp.-Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next 8-11 succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two Corp.-Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--TwoCorp.-Two. c. Any funds remaining in the Capitalized Interest Account after any withdrawals on the Remittance Date in April 1997 May 2000 shall be distributed to Green Tree Finance Corp.-- TwoCorp.-Two on such Remittance Date. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two Corp.-Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 1,000,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971998-24." On the Remittance Date occurring in April 1997July 1998, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, and third to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 July 1998 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

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Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 750,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971999-21." On the Remittance Date Dates occurring in March and April 19971999, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 1999 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 10,500,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971999-25." On the Remittance Date Dates occurring in April 1997October 1999 and November 1999, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 November 1999 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 500,000 received from the Company Seller pursuant to Section 2.02(s2.02(u). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19972000-26." On the Remittance Date Dates occurring in April 1997January 2001 and February 2001, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two Corp.-Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--TwoCorp.-Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two Corp.-Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--TwoCorp.-Two. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.-Two out of its own funds immediately as realized. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 February 2001 shall be distributed to Green Tree Finance Corp.-- TwoCorp.-Two on such Remittance Date. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 received from the Company pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971999-24." On the Remittance Date Dates occurring in April 1997August 1999 and September 1999, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 September 1999 shall be distributed to Green Tree Finance Corp.-- TwoCorp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein $1,500,000 500,000 received from the Company Seller pursuant to Section 2.02(s). The Capitalized Interest Account shall be entitled "Firstar Trust Company U.S. Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19972000-24." On the Remittance Date Dates occurring in April 1997September 2000 and October 2000, if the Monthly Report for such Remittance Date indicates that the Amount Available (after payment of the amount specified in clause (1) of Section 8.03(a) and including in the Amount Available only payments in respect of interest on the Contracts) is less than the sum of not sufficient to pay the Class A Formula Interest Distribution Amount, plus the Class M-1 Formula Interest Distribution Amount, plus the Class M-2 Interest Distribution Amount, plus the Class B-1 Formula Interest Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03order first to pay any deficiency in the Amount Available to pay the Class A Interest Distribution Amount, second to pay any deficiency in the Amount Available to pay the Class M-1 Interest Distribution Amount, third to pay any deficiency in the Amount Available to pay the Class M-2 Interest Distribution Amount, and fourth to pay any deficiency in the Amount Available to pay the Class B-1 Interest Distribution Amount. b. The Capitalized Interest Account shall be part of the Trust but not part of the Subsidiary REMIC or the Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance Date. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 shall be distributed to Green Tree Finance Corp.-- Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in October 2000 shall be distributed to Green Tree Finance Corp.--Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Capitalized Interest Account. a. On or before the Closing Date, the Trustee shall establish the Capitalized Interest Account on behalf of the Trust, which must be Trust with an Eligible AccountInstitution, and shall deposit therein $1,500,000 485,000 received from the Company pursuant to Section 2.02(s2.02(r). The Capitalized Interest Account shall be entitled "Firstar Trust Company Norwest Bank Minnesota, National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates Series 19971996-21." On the Remittance Date occurring in April 1997March 1996, if the Monthly Report for such Remittance Date indicates that the Amount Available is less than the sum of the Class A Formula Distribution Amount, plus the Class M-1 Formula Distribution Amount, Amount plus the Class B-1 Formula Distribution Amount, the Trustee shall withdraw the amount of such deficiency, or the amount of funds in the Capitalized Interest Account (net of any investment earnings thereon), if less, and shall deposit such funds in the Certificate Account for distribution on such Remittance Date in accordance with Section 8.03. b. The Capitalized Interest Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Capitalized Interest Account. Green Tree Finance Corp.--Two Corp. - Two shall be the beneficial owner of the Capitalized Interest Account, subject to the foregoing power of the Trustee to transfer amounts in the Capitalized Interest Account to the Certificate Account. Funds in the Capitalized Interest Account shall, at the direction of Green Tree Finance Corp.--TwoCorp. - Two, be invested in Eligible Investments that mature no later than the Business Day prior to the next succeeding Remittance DateDate occurring in March 1996. All net income and gain from such investments shall be distributed to Green Tree Finance Corp.--Two Corp. - Two on such Remittance Date. All amounts earned on amounts on deposit in the Capitalized Interest Account shall be taxable to Green Tree Finance Corp.--TwoCorp. - Two. c. Any funds remaining in the Capitalized Interest Account after the Remittance Date in April 1997 March 1996 shall be distributed to Green Tree Finance Corp.-- Corp. - Two. After such date no further amounts shall be deposited in or withdrawn from the Capitalized Interest Account. Any losses on such investments shall be deposited in the Capitalized Interest Account by Green Tree Finance Corp.--Two out of its own funds immediately as realized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)

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