Examples of Interest Reserve Fund in a sentence

Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees.
The Class X-IO Certificates also evidence ownership of the assets held from time to time in the Supplemental Interest Reserve Fund, as further described in Section 7.04 hereof.
Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders.
On each Distribution Date, the Trustee will withdraw amounts from the Certificate Account, the Supplemental Interest Reserve Fund and the Cap Agreement Reserve Fund and make the distributions with respect to the Certificates in accordance with the terms of the Certificates and this Agreement.
If no WAC Excess is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000.

More Definitions of Interest Reserve Fund

Interest Reserve Fund that portion of a Development Loan which is allocated within the related Construction Budget for the monthly payment of interest on the Development Loan.

Interest Reserve Fund shall have the meaning set forth in Section 10.04 hereof.

Interest Reserve Fund has the meaning assigned to such term in Section 4.4(1).

Interest Reserve Fund. The account or accounts opened and maintained by the Indenture Trustee on or before the date of execution of the Indenture which shall be entitled “Interest Reserve Fund, The Bank of New York Mellon, as Indenture Trustee, in trust for Holders of NYCTL 2021- A Trust Tax Lien Collateralized Bonds, Series 2021-A,” and which shall be an Eligible Account.

Interest Reserve Fund. The account established by the Indenture Trustee pursuant to Section 9 of the Loan Purchase Agreement. Amounts deposited in the Interest Reserve Fund will be withdrawn in accordance with Section 9 of the Loan Purchase Agreement by the Indenture Trustee and will be distributed by the Indenture Trustee in accordance with Section 3.05 of the Indenture. The Interest Reserve Fund will not be an asset of any REMIC. Ownership of the Interest Reserve Fund is evidenced by the Class SB Notes.

Interest Reserve Fund shall have the meaning set forth in Section 3.03 hereof.

Interest Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.12 in the name of the Trustee for the benefit of the Certificateholders and designated "The Chase Manhattan Bank in trust for registered Holders of Credit Suisse First Boston Mortgage Securities Corp., Mortgage Pass-Through Certificates, Series 2001-S23." Funds in the Interest Reserve Fund shall be held in trust for the Holders of the Class A-1 and LIBOR Certificates for the uses and purposes set forth in this Agreement. The Interest Reserve Fund will be an "outside reserve fund" within the meaning of Treasury regulation Section 1.860G-2(h) established and maintained pursuant to Section 4.12. The Interest Reserve Fund is not an asset of any REMIC. Ownership of the Interest Reserve Fund is evidenced by the Class X-1 Certificates.