Examples of Additional Loan Account in a sentence
The Purchaser may use the funds in each Additional Loan Account to purchase Additional Home Equity Loans on any Subsequent Closing Date designated by the Purchaser by the Latest Subsequent Closing Date.
In addition to Investor Principal Collections, on the Payment Date after the end of the Funding Period, any amount deposited in the Additional Loan Account not used during the first Collection Period to purchase Additional Home Equity Loans will be distributed to the Holders of the Principal Amount Notes in reduction of the Note Principal Balance.
The Purchaser may use the funds in the Additional Loan Account to purchase Additional Home Equity Loans on any Subsequent Closing Date designated by the Purchaser by the Latest Subsequent Closing Date.
The Purchaser may use the funds in each Additional Loan Account to purchase Additional Home Equity Loans for the related Loan Group on any Subsequent Closing Date designated by the Purchaser by the Latest Subsequent Closing Date.
If any funds remain in any Additional Loan Account on the Latest Subsequent Closing Date, to the extent that they represent earnings on the amounts originally deposited into that Additional Loan Account, the Indenture Trustee shall distribute them to the order of the Master Servicer.
In addition to Investor Principal Collections, on the Payment Date after the end of the Funding Period, any amount deposited in an Additional Loan Account not used during the first Collection Period to purchase Additional Home Equity Loans will be distributed to the holders of the related Note Group (in the case of the Notes Group 2, pro rata between the Class 2-A-1A and Class 2-A-1B Notes) as a prepayment of principal.
Each Additional Loan Account shall be an Eligible Account solely for the benefit of the Secured Parties.
The Indenture Trustee shall establish and maintain an Additional Loan Account for each Loan Group with the title specified in the Adoption Annex.
Any losses incurred on funds in any Additional Loan Account that reduce their principal amount shall be immediately deposited in the Additional Loan Account by the Master Servicer out of its own funds.
The Depositor, concurrently with the execution and delivery hereof, does hereby transfer and convey to the Trust, on behalf of the Holders of the Notes and the Certificates and the Credit Enhancer, without recourse, all its right, title and interest in and to the Initial Home Equity Loans, together with the Depositor's right, title and interest under the Home Equity Loan Purchase Agreement and in the Additional Loan Account.