Capitalized Interest Account definition

Capitalized Interest Account. The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

Capitalized Interest Account means any Capitalized Interest account with respect to a Series of Bonds established within a Series Debt Service Account so designated in, and created pursuant to, Section 502 hereof and Supplemental Indenture issued under this Master Indenture, as authorized pursuant to this Master Indenture.

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 2.3(h) of the Administration Agreement.

Examples of Capitalized Interest Account in a sentence

• In the event that moneys received from the District on any Payment Date and the Reserve Fund are together insufficient to make such payments on such Payment Date (after application of moneys in the Capitalized Interest Account to pay interest on the Loan), the Lender will nonetheless transfer all moneys in the Reserve Fund for the purpose of making partial payments on the Loan.

• There shall be established a separate account within the Capitalized Interest Account for each Series of Bonds for which proceeds are to be set aside for payment of Capitalized Interest thereon.

• Amounts on deposit in the Capitalized Interest Account shall not be used to make debt service payments on Prior Loans or any Parity Debt.

• Moneys on deposit in the PPRTA Tax Revenue Fund (including any interest earnings thereon) shall be used solely to pay principal, interest and redemption principal on the Loan and shall be applied by the Lender in accordance with Section 3.02(a) hereof after the application of the Capitalized Interest Account to the payment of interest on the Loan, and prior to the application of any other Pledged Revenue to the payment of the Loan.

• FIRST: To the credit of the Loan Payment Fund, the amounts required by the Section hereof entitled “Loan Payment Fund,” to pay interest and principal due on the Loan, taking into account the amount available in the Capitalized Interest Account to make interest payment on the Loan on the next Payment Date; and SECOND: To the credit of the Reserve Fund, the amounts required Section 3.05 of this Agreement.

More Definitions of Capitalized Interest Account

Capitalized Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

Capitalized Interest Account means the account by that name established in the Debt Service Fund pursuant to the Second Resolution.

Capitalized Interest Account. The Capitalized Interest Account established in accordance with Section 7.2 hereof and maintained by the Trustee.

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Sections 5.1 and 5.2.

Capitalized Interest Account means the account established and maintained pursuant to Section 8.06.

Capitalized Interest Account. The account established and maintained pursuant to Section 3.18 of the Servicing Agreement.

Capitalized Interest Account means the account designated as such, established and maintained pursuant to Section 5.2.