Cap Account definition

Cap Account. The account or accounts created and maintained pursuant to Section 4.08. The Cap Account must be an Eligible Account.

Cap Account. The sub-account of the Supplemental Interest Trust Account created pursuant to Section 4.06(a).

Cap Account. A separate account established and maintained by the Securities Administrator for the benefit of the Noteholders pursuant to Section 6.05.

Examples of Cap Account in a sentence

• The Net WAC Cap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trustee pursuant to this Agreement.

• The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes.

• The Interest Rate Cap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trustee pursuant to this Agreement.

• Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates.

• The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC.

More Definitions of Cap Account

Cap Account. The account created pursuant to Section 5.07(b).

Cap Account. The Eligible Account or Accounts created and maintained pursuant to Section 8.04.

Cap Account. As defined in Section 4.05 hereof.

Cap Account means the Lockbox Account, as further described on Schedule II of the Assignment of Interest Rate Protection Agreement.

Cap Account means the account designated as such, established and maintained pursuant to Section 5.01(a)(v) of the Sale and Servicing Agreement.

Cap Account. A segregated trust account established and maintained by the Securities Administrator pursuant to Section 4.10 of this Agreement.

Cap Account. Any of the Group 1 Certificate Cap Account, the Group 1 Basis Risk Cap Account, the Group 2 Certificate Cap Account, the Group 2 Basis Risk Cap Account and the Class 2-2A3 Basis Risk Cap Account.