Interest Coverage Accounts Sample Clauses
Interest Coverage Accounts. (a) If amounts are required to be deposited in the Interest Coverage Accounts, no later than the Closing Date, the Trustee shall establish and maintain a segregated non-interest bearing trust account that is an Eligible Account, which shall be titled (i) “Group I Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of First Franklin Mortgage Loan Trust 2005-FFH3, Asset-Backed Certificates, Series 2005-FFH3” (the “Group I Interest Coverage Account”) and (ii) “Group II Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of First Franklin Mortgage Loan Trust 2005-FFH3, Asset-Backed Certificates, Series 2005-FFH3” (the “Group II Interest Coverage Account”). The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related Interest Coverage Amount, remitted on the Closing Date to the Trustee by the Depositor. 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.
(b) The Trustee shall invest funds deposited in the Interest Coverage Accounts in Permitted Investments of the kind described in clauses (i), (v) or (vi) of the definition of Permitted Investments, as specified in a written direction from the Depositor, with a maturity date no later than the second Business Day preceding each Distribution Date. For federal income tax purposes, the holder of the largest Percentage Interest of the Residual Certificates shall be the owner of the Interest Coverage Accounts and shall report all items of income, deduction, gain or loss arising therefrom. At no time shall either Interest Coverage Account be an asset of any Trust REMIC. All income and gain realized from investment of funds deposited in the Interest Coverage Accounts shall be for the sole and exclusive benefit of the Depositor and shall be remitted by the Trustee to the Depositor on the first Business Day following each Distribution Date. The Depositor shall deposit in the Interest Coverage Accounts the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss.
(c) On each Distribution Date during the Funding Period and on the last day of the Funding Period, the Trustee shall withdraw from the related Interest Coverage Account and deposit in the Distribution Account an amount equal to 30 days’ interest ...
Interest Coverage Accounts. 155 SECTION 4.09. Swap Account.....................................................................157 SECTION 4.10. Net WAC Rate Carryover Reserve Account...........................................157 ARTICLE V THE CERTIFICATES 159 SECTION 5.01. The Certificates.................................................................159 SECTION 5.02. Registration of Transfer and Exchange of Certificates............................161 SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates................................166 SECTION 5.04. Persons Deemed Owners............................................................166 SECTION 5.05. Certain Available Information....................................................166 ARTICLE VI THE DEPOSITOR AND THE MASTER SERVICER 168
Interest Coverage Accounts. Net WAC Rate Carryover Reserve Account.
Interest Coverage Accounts. 90 SECTION 4.12. Net WAC Rate Carryover Reserve Account.........................................................91 SECTION 4.13. Excess Net WAC Rate Reserve Account............................................................92 SECTION 4.14.
Interest Coverage Accounts. 118 SECTION 4.07 Distributions on the REMIC Regular Interests...............121 SECTION 4.08 Allocation of Realized Losses..............................124 ARTICLE V THE CERTIFICATES 127 SECTION 5.01 The Certificates...........................................127 SECTION 5.02 Registration of Transfer and Exchange of Certificates......127 SECTION 5.03 Mutilated, Destroyed, Lost or Stolen Certificates..........133 SECTION 5.04 Persons Deemed Owners......................................133 SECTION 5.05 Appointment of Paying Agent................................133
Interest Coverage Accounts. The Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts, the Depositor may direct any depository institution maintaining the Pre-Funding Accounts and the Interest Coverage Accounts, if any, and the Trustee may invest the funds on deposit in the Distribution Account or hold such funds uninvested (each such account, for the purposes of this Section 3.12, an "Investment Account"). All investments pursuant to this Section 3.12 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trustee or an Affiliate of the Trustee, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon or if such investment is managed or advised by the Trustee or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such), or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account, any REO Account and the Pre-Funding Accounts, and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:
Interest Coverage Accounts. 90 Section 6.12 DISTRIBUTIONS ON THE UNCERTIFICATED REMIC I REGULAR INTERESTS.. 92
Interest Coverage Accounts. 34 Section 3.28 [Reserved]....................................................................36 Section 3.29
Interest Coverage Accounts. (a) No later than the Closing Date, the Trustee shall establish and maintain two segregated trust accounts that are each Eligible Accounts, which shall be titled, "Group I Interest Coverage Account, Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of Ameriquest Mortgage Securities Inc., Series 2002- D" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of Ameriquest Mortgage Securities Inc., Series 2002-D" (the "Group II Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Group I Interest Coverage Account and the Group II Interest Coverage Account, and retain therein the Group I Interest Coverage Amount and the Group II Interest Coverage Amount, respectively, remitted on the Closing Date to the Trustee by the Depositor. 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.
(b) For federal income tax purposes, the Master Servicer shall be the owner of the Interest
Interest Coverage Accounts. 122 4.09. Net WAC Rate Carryover Reserve Account...............................123 ARTICLE V THE CERTIFICATES 5.01. The Certificates.....................................................127 5.02. Registration of Transfer and Exchange of Certificates................129 5.03. Mutilated, Destroyed, Lost or Stolen Certificates....................134 5.04. Persons Deemed Owners................................................134 5.05. Certain Available Information........................................134 ARTICLE VI SECTION PAGE ------- ---- THE DEPOSITOR AND THE MASTER SERVICER