Examples of Negative Arbitrage Account in a sentence
On the MBS Delivery Date, the Trustee shall remit to the Lender as payment for the MBS, the principal portion of the MBS Purchase Price (from amounts on deposit in the Collateral Fund), plus the interest portion of the MBS Purchase Price (from amounts on deposit in the Revenue Fund and, to the extent amounts on deposit in the Revenue Fund, other than amounts in the Negative Arbitrage Account therein, are insufficient for such purposes, from amounts on deposit in the Negative Arbitrage Account therein).
Revenue Fund.(a) On any Payment Date that occurs prior to or during the month in which the MBS is delivered to the Trustee, the Trustee shall disburse from the Revenue Fund (and, to the extent amounts in the Revenue Fund, other than amounts in the Negative Arbitrage Account therein, are insufficient for such purposes, from the Negative Arbitrage Account therein) an amount equal to the amount of interest due on the Bonds on such Payment Date pursuant to the Mortgage Loan Amortization Schedule.
The transfer of moneys from the Negative Arbitrage Account of the Project Fund to the Funding Loan Payment Fund shall occur automatically without the need for a Written Requisition of the Borrower or consent of the Funding Lender.
The portion of any Extension Payment received by the Trustee in connection with a remarketing in accordance with Section 3.07 hereof designated for the payment of Bond Service Charges shall also be deposited in the Negative Arbitrage Account.
On the Closing Date, there shall be deposited in the Negative Arbitrage Account of the Bond Fund the amount set forth in Section 4.02(b) hereof, which is an amount equal to the amount of interest payments on the Bonds from the Closing Date to the Initial Mandatory Tender Date.