Cap Collateral Account definition

Cap Collateral Account means the account or accounts, if any, established under Section 9.10 of the Transfer and Servicing Agreement as required by the terms of the Cap Agreement.
Sample 1Sample 2Sample 3
Cap Collateral Account. As defined in Section 4.16 hereof.
Sample 1
Cap Collateral Account. The account maintained by the Trustee in accordance with the provisions of Section 6.11(b). Cap Credit Support Annex: The credit support annex to the Cap Agreement dated as of April 18, 2007, between the Trustee, on behalf of the Supplemental Interest Trust, and the Cap Provider.
Sample 1

Examples of Cap Collateral Account in a sentence

  • The Cap Collateral Account shall be subject to a tri-party account control agreement to be entered into among the Cap Counterparty, the Issuer and the Cap Custodian (the “Control Agreement”).

  • The Issuer agrees that it shall not assert exclusive control over, or originate entitlement orders or instructions for the disposition of funds with respect to, the Cap Collateral Account unless the conditions for the exercise of its rights and remedies pursuant to the Cap Agreement are met and such assertion of exclusive control or origination of instructions or entitlement orders is for the purpose of exercising such rights and remedies.

  • The only permitted withdrawal from or application of funds on deposit in, or otherwise to the credit of, the Cap Collateral Account shall be (i) for application to obligations of the Cap Counterparty to the Issuer under the Cap Agreement in accordance with the terms of the Cap Agreement or (ii) to return collateral to the Cap Counterparty when and as required by the Cap Agreement or applicable law.

  • In the event that the Cap Custodian no longer satisfies the requirements set forth in the immediately preceding sentence, the Issuer, the Servicer and the Cap Counterparty shall use their reasonable best efforts to move the Cap Collateral Account and any collateral posted therein to another financial institution satisfying the requirements set forth in the immediately preceding sentence within sixty (60) calendar days.


More Definitions of Cap Collateral Account

Cap Collateral Account. The Eligible Account maintained by the Trustee in accordance with the provisions of Section 6.11(b).
Sample 1
Cap Collateral Account means the segregated non-interest bearing trust account created and maintained by the Securities Administrator pursuant to Section 3.24(i) hereof.
Sample 1
Cap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Cap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 5.10(e) of this Agreement.] Sale and Servicing Agreement
Sample 1

Related to Cap Collateral Account

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.10(e) of the Sale and Servicing Agreement.]

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.