Examples of Cap Contract Account in a sentence
The Trust Fund for federal income tax purposes will consist of (i) three real estate mortgage investment conduits, (ii) the right to receive payments distributable to the Class P Certificates pursuant to Section 4.04(b)(i) hereof, (iii) each Cap Contract and the Cap Contract Account, (iv) the grantor trusts described in Section 2.07 hereof and (v) the Supplemental Interest Trust, which in turn will hold the Swap Agreement.
All funds deposited in the Cap Contract Account shall be held for the benefit of CHL and for the Indenture Trustee for the benefit of the Holders of the Benefited Notes until withdrawn in accordance with Section 4.
The Cap Contract Administrator shall establish and maintain a Cap Contract Account into which the Cap Contract Administrator shall deposit or cause to be deposited on the Business Day of receipt, all amounts payable by the Counterparty under the Cap Contract.
The Cap Contract Account shall be an "Eligible Account" as defined in the Indenture and, if the Indenture is satisfied and discharged in accordance with its terms prior to the termination of this Agreement, the Cap Contract Account shall be an account that would otherwise qualify as an "Eligible Account" under the Indenture had such satisfaction and discharge not occurred.
The Cap Contract Administrator shall give at least 30 days' advance notice to CHL and the Indenture Trustee of any proposed change of location of the Cap Contract Account prior to any change thereof.