Interest Coverage Account definition

Interest Coverage Account. The account established and maintained pursuant to Section 4.08, as defined therein.

Interest Coverage Account. The account or sub-account established and maintained pursuant to Section 4.11 and which shall be an Eligible Account or a sub-account of an Eligible Account.

Interest Coverage Account. The account established and maintained pursuant to Section 4.08, which amount, to be paid by the Depositor to the Trustee on the Closing Date equals $0.

Examples of Interest Coverage Account in a sentence

• Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

• The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor.

• The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related Interest Coverage Amount, remitted on the Closing Date to the Trustee by the Depositor.

• The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account.

• Any investment earnings on the Initial Interest Coverage Account will be treated as owned by the Seller and will be taxable to the Seller.

More Definitions of Interest Coverage Account

Interest Coverage Account. The Group I Interest Coverage Account or the Group II Interest Coverage Account, as applicable.

Interest Coverage Account. The account established and maintained by the Indenture Trustee pursuant to Section 8.09 of the Indenture.

Interest Coverage Account. The account established and maintained pursuant to Section 2.5 of this Agreement.

Interest Coverage Account means the account or sub-account established and maintained pursuant to Section 5.11 and which shall be an Eligible Account or sub-account of an Eligible Account.

Interest Coverage Account. As defined in Section 3.27.

Interest Coverage Account. A trust account that the Trustee will establish for the benefit of the Certificateholders.

Interest Coverage Account. An account established and held by the Trust Administrator pursuant to Section 3.27.