Interest Reserve Account definition

Interest Reserve Account. The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Interest Reserve Account” and which shall be an Eligible Account.

Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

Interest Reserve Account. The segregated account (or sub-account of the Distribution Account) created and maintained by the Certificate Administrator on behalf of the Trustee, pursuant to Section 3.04(c), for the benefit of the Certificateholders, which shall be entitled “Xxxxx Fargo Bank, National Association [or the name of any successor Certificate Administrator], as Certificate Administrator, on behalf of Wilmington Trust, National Association [or the name of any successor Trustee], as Trustee, for the benefit of the registered holders of WFRBS Commercial Mortgage Trust 2014-C22, Commercial Mortgage Pass-Through Certificates, Series 2014-C22, Interest Reserve Account”.

Examples of Interest Reserve Account in a sentence

• The only permitted deposits to or withdrawals from the Interest Reserve Account shall be in accordance with the provisions of this Agreement.

• On or prior to the Initial Funding Date, the Borrower shall deposit $0 into the Interest Reserve Account.

• If the Services Provider does not select an Eligible Investment, amounts on deposit in the Interest Reserve Account will be invested, as fully practicable, in Eligible Investments; provided that such account satisfies the Eligible Investment Required Ratings.

• On each Quarterly Payment Date while the Interest Reserve Account is open, funds in the Interest Reserve Account as of the related Calculation Date will be applied as Interest Proceeds on such Quarterly Payment Date in accordance with the Priority of Payments, but solely to the extent that other Interest Proceeds are not available to satisfy all amounts described in Section 9.1(a)(i)(A) through (M).

• The Borrower shall not have any legal, equitable or beneficial interest in the Interest Reserve Account other than in accordance with this Agreement and the Priority of Payments.

More Definitions of Interest Reserve Account

Interest Reserve Account. As defined in Section 3.4(d).

Interest Reserve Account. The trust account established pursuant to Section 10.3(e).

Interest Reserve Account means the account designated as the Interest Reserve Account in, and which is established and maintained pursuant to, Section 7.04 hereof.

Interest Reserve Account means the account established pursuant to Section 8.3(c).

Interest Reserve Account. The trust account or subaccount of the Distribution Account created and maintained by the Certificate Administrator pursuant to Section 3.04(b) initially in the name of “Xxxxx Fargo Bank, National Association, as Certificate Administrator, for the benefit of Xxxxx Fargo Bank, National Association, as Trustee, in trust for the registered holders of X.X. Xxxxxx Chase Commercial Mortgage Securities Trust 2013-C10, Commercial Mortgage Pass-Through Certificates, Series 2013-C10, Interest Reserve Account”, into which the amounts set forth in Section 3.25 shall be deposited directly and which must be an Eligible Account or subaccount of an Eligible Account.

Interest Reserve Account means the segregated account or accounts (or the segregated sub-account of the Collection Account) created and maintained by the Trustee pursuant to Section 3.04(c) in trust for Certificateholders, which shall be entitled "[NAME OF TRUSTEE], as Trustee, in trust for the registered holders of LB-UBS Commercial Mortgage Trust 2005-C5, Commercial Mortgage Pass-Through Certificates, Series 2005-C5".

Interest Reserve Account. The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Computershare Trust Company, National Association, as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2022-B35 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2022-B35, and the Uncertificated VRR Interest Owners, Interest Reserve Account” and which shall be an Eligible Account.