Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2005-3". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(c) in the name of the Trustee for the benefit of the Holders of the Class P Certificates and designated “The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2007-OA10, Mortgage Pass-Through Certificates, Series 2007-OA10.” Funds in the Principal Reserve Fund shall be held in trust for the Holders of the Class P Certificates for the uses and purposes set forth in this Agreement.
Principal Reserve Fund. A separate Eligible Account created and maintained by the Trustee pursuant to Section 3.05(j) with a depository institution in the name of the Trustee for the benefit of the Class X-P Certificateholders specified in Section 3.05(j) and designated "The Bank of New York, Principal Reserve Fund in trust for registered holders of CWALT 2007-OH1 Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2007-OH1, Class X-P."
Examples of Principal Reserve Fund in a sentence
Funds on deposit in the Principal Reserve Fund shall not be invested.
The Principal Reserve Fund shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC created under this Agreement.
Following the distributions to be made in accordance with the preceding sentence, the Trustee shall then terminate the Principal Reserve Fund.
On the Closing Date, the Depositor shall deposit into the Principal Reserve Fund $100.
The Trustee shall establish and maintain, on behalf of the Certificateholders, a Principal Reserve Fund in the name of the Trustee.
More Definitions of Principal Reserve Fund
Principal Reserve Fund means the Eligible Account established and maintained by the Indenture Trustee pursuant to Section 8.01(d) of the Indenture.
Principal Reserve Fund means the Eligible Account established and maintained by the Indenture Trustee pursuant to Section 8.01(d).
Principal Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(e) in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2003-BC1". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created under this Agreement. Any investment income earned from Permitted Investments made with funds in the Principal Reserve Fund will be for the account of the Seller.
Principal Reserve Fund. Not applicable.
Principal Reserve Fund means the Principal Reserve Fund established by the Trustee pursuant to Section 4.01 hereof.