Cap Agreement Account definition
Examples of Cap Agreement Account in a sentence
The MTA SWAP REMIC shall hold as its assets the property of the Trust Fund other than (i) the Capitalized Interest Account, (ii) the Lower Tier Interests, (iii) the Basis Risk Reserve Fund, (iv) the Cap Agreements and the Cap Agreement Account and (v) the rights to receive Prepayment Premiums distributable to the Class P Certificates, (vi) the Class X Account and (vii) the Swap Agreements and the Supplemental Interest Trust.
The Cap Agreement 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 of the Trustee held pursuant to this Agreement.
The Trustee shall deposit all amounts received on the Cap Agreement into the Cap Agreement Account.
If an existing Cap Agreement Account ceases to be an Eligible Account, the Trustee shall establish a new Cap Agreement Account that is an Eligible Account within 30 days and transfer all funds on deposit in such existing Cap Agreement Account into such new Cap Agreement Account.
If any portion of such amount cannot be so used (either because a replacement for such Interest Rate Swap Agreement or the Interest Rate Cap Agreement is not available or such amount exceeds the amount necessary to purchase such replacement), the Supplemental Interest Trust Trustee shall deposit such portion in the Swap Account (with respect to any Interest Rate Swap Agreement) or the Interest Rate Cap Agreement Account (with respect to the Interest Rate Cap Agreement).
As provided herein, the Trustee shall elect that the Trust Fund (other than (i) the Basis Risk Reserve Fund, (ii) the Capitalized Interest Account, (iii) the rights to receive Prepayment Premiums distributable to the Class P Certificates, (iv) the Cap Agreements and the Cap Agreement Account, (v) the Swap Agreements and the Supplemental Interest Trust.
Bank National Association, as Trustee, in trust for registered holders of Banc of America Funding Corporation Mortgage Pass-Through Certificates, Series 2007-2--Class T-A-4 Interest Rate Cap Agreement Account." Such 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 of the Securities Administrator held pursuant to this Agreement.
On each Distribution Date, the Trustee shall distribute all amounts in the Cap Agreement Account to the Class 2-A1 Certificates up to the amount of any applicable Basis Risk Shortfall and Unpaid Basis Risk Shortfall for such Class on such Distribution Date.