Pre-Funding Account and Capitalized Interest Account. (a) No later than the Closing Date, the Representative shall establish and maintain with the Trustee in its trust department a trust account, which shall not be interest-bearing, titled "The Money Store SBA Pre-Funding Account 1998-1" (the "Pre-Funding Account"). The Pre-Funding Account shall not constitute part of the Trust Fund. The Representative shall be deemed the owner of the Pre-Funding Account for Federal income tax purposes. The Trustee shall, promptly upon receipt, deposit into the Pre-Funding Account and retain therein the Original Pre- Funded Amount from the proceeds of the sale of the Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Money Store of New York Inc)
Pre-Funding Account and Capitalized Interest Account. (a) No later than the Closing Date, the Representative shall establish and maintain with the Trustee in its trust department a trust account, which shall not be interest-bearing, titled "The Money Store SBA Pre-Funding Account 19981997-1" (the "Pre-Funding Account"). The Pre-Funding Account shall not constitute part of the Trust Fund. The Representative shall be deemed the owner of the Pre-Funding Account for Federal income tax purposes. The Trustee shall, promptly upon receipt, deposit into the Pre-Funding Account and retain therein the Original Pre- Funded Amount from the proceeds of the sale of the Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Money Store Sba Loan Backed Adj Rak Cert Series 1997-I)
Pre-Funding Account and Capitalized Interest Account. (a) No later than the Closing Date, the Representative shall establish and maintain with the Trustee in its trust department a trust account, which shall not be interest-bearing, titled "The Money Store SBA Business Loan Pre-Funding Account 19981997-12" (the "Pre-Funding Account"). The Pre-Funding Account shall not constitute part of the Trust Fund. The Representative shall be deemed the owner of the Pre-Funding Account for Federal income tax purposes. The Trustee shall, promptly upon receipt, deposit into the Pre-Funding Account and retain therein the Original Pre- Funded Amount from the proceeds of the sale of the Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Money Store Commercial Mortgage Inc)
Pre-Funding Account and Capitalized Interest Account. (a) No later than the Closing Date, the Representative shall establish and maintain with the Trustee in its trust department a trust account, which shall not be interest-bearing, titled "The Money Store SBA Business Loan Pre-Funding Account 19981997-1" (the "Pre-Funding Account"). The Pre-Funding Account shall not constitute part of the Trust Fund. The Representative shall be deemed the owner of the Pre-Funding Account for Federal income tax purposes. The Trustee shall, promptly upon receipt, deposit into the Pre-Funding Account and retain therein the Original Pre- Funded Amount from the proceeds of the sale of the Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Money Store Commercial Mortgage Inc)