Cap Proceeds Account definition

Cap Proceeds Account shall have the meaning specified in subsection 3A(b) of this Series Supplement.
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Cap Proceeds Account. Cap Settlement Date", "Interest Rate Caps", "Required Cap Agreements", "Excess Cap Proceeds", "the requirements set forth in Section 7.28 of the Liquidity Agreement", and any and all other references to the Interest Rate Caps or terms relating to Interest Rate Caps are hereby amended to include the addition of the reference ", if any" where grammatically appropriate after each and every such term and reference, it being the intention and agreement of each of the parties to each Operative Document that such terms and references have substantive meaning and effect only when an Interest Rate Cap is in effect.
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Cap Proceeds Account shall have the meaning specified in subsection 3A(b).
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Examples of Cap Proceeds Account in a sentence

  • The Transferor agrees that each Interest Rate Cap shall provide for payments to the Trustee and that the Trust's interest in respect of such payments shall be deposited into the Cap Proceeds Account.

  • The Transferor hereby further agrees to execute all such instruments, documents and financing statements and take all such further action requested by the Trustee to evidence and perfect the assignment of the Cap Agreements, the Interest Rate Caps and the Cap Proceeds Account pursuant to this Section 3A.

  • Any earnings on such invested funds shall be deposited and held in the Cap Proceeds Account and applied in the same manner and priority as payments pursuant to the Interest Rate Caps.

  • Funds in the Cap Proceeds Account shall be invested at the direction of the Servicer, in Cash Equivalents with maturities not later than the next succeeding Business Day.

  • The Transferor hereby further agrees to execute, authorize and file all such instruments, documents and financing statements and take all such further action requested by the Trustee to evidence and perfect the assignment of the Cap Agreements, the Interest Rate Caps and the Cap Proceeds Account pursuant to this Section 3A.

  • The Servicer will apply or will instruct the Trustee to apply all funds on deposit in the Collection Account and the Excess Funding Account allocable to the Series 1998-3 Securities, and all funds on deposit in the Interest Funding Account, the Principal Account, the Cap Proceeds Account, the Principal Funding Account, the Accumulation Period Reserve Account, the Distribution Account and the Payment Reserve Account, as described in this Article IV.

  • The Servicer will apply or will instruct the Trustee to apply all funds on deposit in the Collection Account and the Excess Funding Account allocable to the Series 1998-2 Securities, and all funds on deposit in the Interest Funding Account, the Principal Account, the Cap Proceeds Account, the Principal Funding Account, the Accumulation Period Reserve Account, the Distribution Account and the Payment Reserve Account, as described in this Article IV.

  • The Servicer will apply or will instruct the Trustee to apply all funds on deposit in the Collection Account and the Excess Funding Account allocable to the Series 2000-3 Securities, and all funds on deposit in the Interest Funding Account, the Principal Account, the Cap Proceeds Account, the Principal Funding Account, the Accumulation Period Reserve Account, the Distribution Account, the Payment Reserve Account and the Pre-Funding Account, as described in this Article IV.

  • All amounts paid pursuant to the Interest Rate Caps or any Qualified Substitute Arrangement on any Business Day (a “Cap Settlement Date”) shall be deposited in the Cap Proceeds Account.

  • Conveyance of Interest in Interest Rate Cap; Cap Proceeds Account 23 SECTION 4.