Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.27(a) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, N.A. in trust for registered Holders of GSAMP Trust 2000-XE3, Mortgage Pass-Through Certificates, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Examples of Excess Reserve Fund Account in a sentence
The beneficial owners of the Excess Reserve Fund Account are the Class X Certificateholders.
For all federal tax purposes, amounts transferred by the Upper Tier REMIC to the Excess Reserve Fund Account shall be treated as distributions by the Trustee to the Class X Certificateholders.
For the avoidance of doubt, any Basis Risk Carry Forward Amounts shall be paid to the LIBOR Certificates first from the Excess Reserve Fund Account and then from the Supplemental Interest Trust.
The Securities Administrator shall account for the Excess Reserve Fund Account as an asset of a grantor trust under subpart E, Part I of subchapter J of the Code and not as an asset of any Trust REMIC created pursuant to this Agreement.
Moreover, the Depositor shall provide information to the Trustee concerning the value to each Class of Certificates of the right to receive Basis Risk CarryForward Amounts from the Excess Reserve Fund Account.
More Definitions of Excess Reserve Fund Account
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.27(a) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank National Trust Company in trust for registered holders of GSAMP Trust 2005-HE2, Mortgage Pass-Through Certificates, Series 2005-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(d) in the name of the Trustee for the benefit of the Adjustable Rate Certificateholders and designated "[ ] in trust for registered holders of IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series [ ]." Funds in the Excess Reserve Fund Account shall be held in trust for the Adjustable Rate Certificateholders for the uses and purposes set forth in this Agreement.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Bankers Trust Company of California, N.A. in trust for registered holders of Xxxxxx Xxxxxxx Xxxx Xxxxxx Capital I Inc. Trust 2001-NC2, Mortgage Pass-Through Certificates, Series 2001-NC2". Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.07 in the name of the Trustee for the benefit of the Certificateholders and designated "JPMorgan Chase Bank in trust for the registered holders of MASTR Adjustable Rate Mortgages Trust 2004-2, Mortgage Pass-Through Certificates Series 2004-2." Funds in the Excess Reserve Fund Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The reserve fund designated, established and maintained pursuant to Section 3.27.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(d) in the name of the Trustee for the benefit of the Certificateholders and designated “Deutsche Bank National Trust Company in trust for registered holders of IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series INDS 2007-2.” Funds in the Excess Reserve Fund Account shall be held in trust for the Certificateholders of the Class A Certificates for the uses and purposes set forth in this Agreement. The Excess Reserve Fund Account will not be an asset of any REMIC.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Offered Certificateholders and designated "Deutsche Bank National Trust Company, in trust for registered holders of CDC Mortgage Capital Trust 2003-HE3, Mortgage Pass-Through Certificates, Series 2003-HE3".