Cap Contract Reserve Fund definition

Cap Contract Reserve Fund. The separate fund created and initially maintained by the Trustee pursuant to Section 4.11 in the name of the Trustee for the benefit of the Holders of the Offered Certificates and designated “American Home Mortgage Assets Trust 2006-3 Cap Contract Reserve Fund.” Funds in the Cap Contract Reserve Fund shall be held in trust for the Holders of the Offered Certificates for the uses and purposes set forth in this Agreement. The Cap Contract Reserve Fund shall not be an asset of any REMIC.
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Cap Contract Reserve Fund. Funds created as part of the Trust Fund pursuant to Section 3.07 of this Trust Agreement, which funds are not assets of any REMIC Trust.
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Cap Contract Reserve Fund. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(f) in the name of the Trustee for the benefit of the Holders of the Group 2 Certificates and designated "Deutsche Bank National Trust Company in trust for registered holders of Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2003-A, Home Equity Mortgage Loan Asset-Backed Certificates, Group 2 Certificates. Funds in the Cap Contract Reserve Fund shall be held in trust for the Holders of the Group 2 Certificates for the uses and purposes set forth in this Agreement. The Cap Contract Reserve Fund will not be an asset of any REMIC.
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Examples of Cap Contract Reserve Fund in a sentence

  • The beneficial owners of the AIO Class hereby agree to pay the beneficial owners of the A Class on each Distribution Date the A Class Interest Carryover Amount for such date after application of amounts available for such purpose in the Cap Contract Reserve Fund.

  • Any amount received on the Cap Contract shall be deposited into the Cap Contract Reserve Fund and shall be withdrawn by Xxxxxx Xxx on each Distribution Date up to the amount then on deposit in the Cap Contract Reserve Fund for application to pay to the A Class any accrued A Class Interest Carryover Amount in respect of such Distribution Date.

  • On the Distribution Date on which the Class Balance of the A Class is reduced to zero, any amounts remaining on deposit in the Cap Contract Reserve Fund, after giving effect to all distributions on such date, shall be withdrawn and paid to the Trustee.

  • If the Cap Contract is terminated prior to the Scheduled Cap Contract Termination Date and a termination payment is received by the Trustee pursuant to such termination, such termination payment shall be deposited in the Cap Contract Reserve Fund to pay any A Class Interest Carryover Amount on future Distribution Dates.

  • The Trustee shall treat the Cap Contract Reserve Fund as an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) that is owned by Long Beach and that it is not an asset of any REMIC created pursuant to this Trust Agreement.

  • The Cap Contract Reserve Fund shall be established by the Trustee and maintained as part of the Trust Fund.

  • The Trustee shall treat the rights of the A Class to receive A Class Interest Carryover Amounts from the Cap Contract Reserve Fund as rights in an interest rate cap contract written by Long Beach in favor of the A Class.

  • Any remaining amount shall be retained in the Cap Contract Reserve Fund to pay any A Class Interest Carryover Amount on future Distribution Dates.

  • Any amount so withdrawn shall no longer be part of the Cap Contract Reserve Fund or the Trust Fund.


More Definitions of Cap Contract Reserve Fund

Cap Contract Reserve Fund. The separate fund created and initially maintained by the Trustee pursuant to Section 3.05(i) in the name of the Trustee for the benefit of the Holders of the Covered Certificates and designated "The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2006-12CB, Mortgage Pass-Through Certificates, Series 2006-12CB." Funds in the Cap Contract Reserve Fund shall be held in trust for the Holders of the Covered Certificates for the uses and purposes set forth in this Agreement. For all federal income tax purposes, the Cap Contract Reserve Fund will be beneficially owned by UBS Real Estate Securities, Inc.
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Cap Contract Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.06(g).
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Cap Contract Reserve Fund. The separate fund created and initially maintained by the Supplemental Interest Trustee pursuant to Section 3.05(h) in the name of the Supplemental Interest Trustee for the benefit of the Holders of the Covered Certificates and designated “The Bank of New York in trust for registered holders of Alternative Loan Trust 2007-HY3, Mortgage Pass-Through Certificates, Series 2007-HY3.” Funds in the Cap Contract Reserve Fund shall be held in trust for the Holders of the Covered Certificates for the uses and purposes set forth in this Agreement.
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Cap Contract Reserve Fund means the separate trust account created and maintained by the Trustee pursuant to Section 4.06 hereof.
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Related to Cap Contract Reserve Fund

  • Interest Reserve Account As defined in Section 3.4(d).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • 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.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.