Principal Reinvestment Account definition

Principal Reinvestment Account means the segregated account so designated and established and maintained pursuant to Section 7.01(b).
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Principal Reinvestment Account means the segregated account so designated and established and maintained pursuant to S ection 7.01(b).
Sample 1

Examples of Principal Reinvestment Account in a sentence

  • The Servicer is hereby required to ensure that the Principal Reinvestment Account is established and maintained as an Eligible Deposit Account.

  • The Securities Intermediary shall establish and maintain as required therein or herein, as applicable, the Collection Account, the General Reserve Account, the Distribution Account and the Principal Reinvestment Account specified in ‎Section 7.01, ‎Section 7.02 and ‎Section 7.03 of the Sale and Servicing Agreement.

  • During the Investment Period, prior to or on each Reference Date, the Servicer will determine and set forth in the Monthly Report, the amount to be deposited into the Principal Reinvestment Account on the related Payment Date from Principal Collections (after payment of clauses (1) through (3) of ‎Section 7.05(b)(i)) (such amount, the “Principal Reinvestment Account Allocation Amount”).

  • On or before the Closing Date, the Securities Intermediary shall establish and maintain as a segregated account, the Principal Reinvestment Account in the name of the Trustee for the benefit of the Noteholders.

  • The Servicer will monitor the Principal Reinvestment Account in accordance with its customary policies and procedures.

  • To the extent that any Principal Collections are remaining after application of the Principal Reinvestment Account Allocation Amount, the Servicer shall direct that such remaining funds be distributed to or at the written direction of the Issuer, and, if paid to the Noteholders, shall be considered an Investment Period Principal Distribution Amount.

  • Amounts on deposit in the Principal Reinvestment Account will be invested by the Securities Intermediary, at the written direction of the Servicer, in Permitted Investments.

  • Absent written direction, amounts in the Principal Reinvestment Account shall remain uninvested.

Related to Principal Reinvestment Account

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Reinvestment Deferred Amount means, with respect to any Reinvestment Event, the aggregate amount of Net Cash Proceeds received by the Borrower or a Restricted Subsidiary in connection therewith that are not applied to prepay the Term Loans as a result of the delivery of a Reinvestment Notice.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.