Initial Certificate Account Deposit definition

Initial Certificate Account Deposit. An amount equal to the aggregate of all amounts in respect of (i) principal of the Initial Mortgage Loans due after the Initial Cut-off Date and received by the Master Servicer before the Closing Date and not applied in computing the Cut-off Date Principal Balance thereof and (ii) interest on the Initial Mortgage Loans due after the Initial Cut-off Date and received by the Master Servicer before the Closing Date.
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Examples of Initial Certificate Account Deposit in a sentence

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • With respect to any Loan that does not require the first payment of principal or interest thereon to be made on or before such Loan's Due Date in the month prior to the first Distribution Date, such Seller shall deposit into the Certificate Account on the Closing Date, an amount equal to one month's interest at the related Mortgage Rate on the Cut-off Date Principal Balance of such Loan (the "Initial Certificate Account Deposit").

  • Initial Certificate Account Deposit ----------------------------------- As defined in Section 2.01(a).

  • The Seller confirms that, concurrently with the transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Seller confirms that, concurrently with such transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it or the other Seller has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it or the applicable Seller has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • Initial Certificate Account Deposit As defined in Section 2.01(a).

Related to Initial Certificate Account Deposit

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Yield Supplement Account Deposit means the initial deposit of cash in the amount of $[_________] made by or on behalf of the Seller into the Yield Supplement Account on the Closing Date.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Initial Reserve Account Deposit means $3,250,000.

  • Withdrawal certificate means a document known as a withdrawal of a certificate of noncompliance provided by the child support unit certifying that the certificate is withdrawn and that the board may proceed with issuance, reinstatement, or renewal of a license.

  • Initial Certificate Balance means $[ ].

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Initial Certificate Principal Balance With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Certificate Administrator Accounts As defined in Section 3.07(a) of this Agreement.

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • Deposit Date means, with respect to any Collection Period and Payment Date, the Business Day immediately preceding such Payment Date.

  • 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.

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Original Certificate Balance means $32,051,840.09.