Floating Rate Account definition

Floating Rate Account. The trust account or accounts created and maintained as a separate account or accounts (or as a subaccount of the Distribution Account) by the Paying Agent pursuant to Section 3.04(b), which shall be entitled "[____________________], as Paying Agent, in trust for the registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial Moxxxxxx Xxxx-Xxxxxgh Certificates, Series [________] Class A-2FL Certificates, Floating Rate Account," and which must be an Eligible Account (or a subaccount of an Eligible Account). The Floating Rate Account shall not be an asset of either the Lower-Tier REMIC or the Upper-Tier REMIC formed hereunder.

Floating Rate Account. Either the Class A-2SFL Floating Rate Account or the Class A-JFL Floating Rate Account, individually or collectively as the context may require.

Floating Rate Account means the Class A-2FL Floating Rate Account, the Class A-4FL Floating Rate Account, the Class A-MFL Floating Rate Account or the Class A-JFL Floating Rate Account, as applicable.

Examples of Floating Rate Account in a sentence

• The Class A-2FL Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account and the proceeds thereof, which portion shall be treated as a grantor trust within the meaning of subpart E, Part I of subchapter J of the Code.

• The parties intend that the portions of the Trust Fund representing (i) the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof and (ii) the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account and the proceeds thereof will be treated as a grantor trust under subpart E of Part I of subchapter J of the Code and that the beneficial interests therein will be represented by the Class S Certificates and the Class A-2FL Certificates, respectively.

• As provided herein, the Trustee shall elect or shall cause an election to be made to treat the Trust Fund (exclusive of the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account, the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof) for federal income tax purposes as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC" as described herein).

• As provided herein, the Paying Agent shall elect or shall cause an election to be made to treat the Trust Fund (exclusive of the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account, the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof) for federal income tax purposes as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC" as described herein).

• As provided in the Agreement, withdrawals from the Certificate Account, the Floating Rate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.

More Definitions of Floating Rate Account

Floating Rate Account. The segregated accounts or sub-accounts (which may be sub-accounts of the Distribution Account) created and maintained by the Trustee pursuant to Section 3.04(f), in trust for: (i) in the case of the Class A-2FL Certificates and the Class A-2FL REMIC II Regular Interest, the holders of Class A-2FL Certificates and the Class A-2FL Swap Counterparty, as their interests may appear, which shall be entitled "LaSalle Bank National Association, as Trustee, on behalf of and in trust for the registered holders of Xxxxxxx Xxxxx Mortgage Trust 2005-CKI1, Commercial Mortgage Pass-Through Certificates, Series 2005-CKI1, Class A-2FL, and Xxxxxxx Xxxxx Capital Services, Inc., as their interests may appear, Floating Rate Account"; and (ii) in the case of the Class A-4FL Certificates and the Class A-4FL REMIC II Regular Interest, the holders of the Class A-4FL Certificates and the Class A-4FL Swap Counterparty, as their interests may appear, which shall be entitled "LaSalle Bank National Association, as Trustee, on behalf of and in trust for the registered holders of Xxxxxxx Xxxxx Mortgage Trust 2005-CKI1, Commercial Mortgage Pass-Through Certificates, Series 2005-CKI1, Class A-4FL, and Xxxxxxx Xxxxx Capital Services, Inc., as their interests may appear, Floating Rate Account".

Floating Rate Account. The trust account or accounts created and maintained as a separate account or accounts (or as a subaccount of the Distribution Account) by the Paying Agent pursuant to Section 3.04(g), which shall be entitled “Xxxxx Fargo Bank, N.A., as Trustee, in trust for the registered Holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass Through Certificates, Series 2007-C31 Class A-5FL Certificates, Floating Rate Account,” and which must be an Eligible Account (or a subaccount of an Eligible Account). The Floating Rate Account shall not be an asset of either REMIC I or REMIC II formed hereunder.

Floating Rate Account. The Eligible Account established and maintained by the Trustee (or the Paying Agent on behalf of the Trustee) pursuant to Section 3.04(g) with respect to the Class A-2F Certificates, which shall be entitled "Xxxxx Fargo Bank Minnesota, N.A., as Trustee, in trust for the registered holders of Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2001-1, Floating Rate Account, Class A-2F"; provided, that the Floating Rate Account may be a subaccount of the Distribution Account. The Floating Rate Account shall be an asset of the Grantor Trust.

Floating Rate Account. The Class A-2FL Floating Rate Account.

Floating Rate Account means the Eligible Account or Accounts established and maintained by the Paying Agent and the Master Servicer on behalf of the Trustee with respect to the Class A-4FL Certificates, which shall be entitled "Wells Fargo Bank, National Association, as Paying Agent on behalf of LaXxxxx Bank National Association, as Trustee, in trust for Holders of Bear Stearns Commercial Mortgage Securities Trust 2005-TOP18, Floating Rate Xxxxxxx, Class A-4FL" and "Wells Fargo Bank, National Association, as Master Servicer for LaSalle Xxxx National Association, as Trustee for the Holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Txxxxxx Certificates, Series 2005-TOP18, Floating Rate Account, Class A-4FL", respectively; provided, that the Floating Rate Account may be a subaccount of the Distribution Account or the Certificate Account. The Floating Rate Account shall be an asset of the Class A-4FL Grantor Trust.

Floating Rate Account. The trust account or accounts created and maintained as a separate account or accounts (or as a subaccount of the Distribution Account) by the Paying Agent pursuant to Section 3.04(b), which shall be entitled "Wells Fargo Bank, N.A., as Paying Agent, in trust for the registered Hoxxxxx of J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC20, Comxxxxxxx Xxxtgage Pass Through Certificates, Series 2007-CIBC20 Class A-MFL Certificates, Floating Rate Account," and which must be an Eligible Account (or a subaccount of an Eligible Account). The Floating Rate Account shall not be an asset of either the Lower-Tier REMIC or the Upper-Tier REMIC formed hereunder.

Floating Rate Account shall have the meaning ascribed to it in Section 3.06 herein.