Reserve Fund Addition definition

Reserve Fund Addition means the amount, if any, received from the LIBOR Cap Counterparty pursuant to the applicable Yield Maintenance Agreement.
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Reserve Fund Addition means, with respect to each Yield Maintenance Agreement and each Distribution Date, the amount equal to the interest accrued during the related interest accrual period at a rate equal to the excess of (x) 1-month LIBOR over (y) the related strike rate, on an amount equal to the related Yield Maintenance Agreement Notional Balance.
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Reserve Fund Addition. With respect to the Cap Contract and each Distribution Date, the amount equal to the interest accrued during the Interest Accrual Period at a per annum rate equal to the excess of (x) LIBOR over (y) 1.33%, on an amount equal the Projected Principal Balance for such Distribution Date. The Reserve Fund Addition will be payable by the Cap Counterparty to the Trustee on behalf of the Certificateholders and the Insurer pursuant to the Cap Contract.
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Examples of Reserve Fund Addition in a sentence

  • Pursuant to the Yield Maintenance Agreement, on each Distribution Date, an amount will be deposited into the Reserve Fund equal to the amounts received under the Yield Maintenance Agreements (the "Reserve Fund Addition").

  • The Trustee shall deposit in the Yield Maintenance Reserve Fund any Reserve Fund Addition received from the LIBOR Cap Counterparty pursuant to the Yield Maintenance Agreement.

  • Immediately prior to each Distribution Date, the Trustee shall deposit into the Reserve Fund an amount equal to the Reserve Fund Addition.

  • For any Distribution Date prior to the Distribution Date in June 2017 (the 121st Distribution Date), zero, and (b) for the Distribution Date in June 2017 and each Distribution Date thereafter, if a Final Maturity Deficiency exists, an amount equal to the product of (i) one-twelfth of the Final Maturity Reserve Fund Addition Rate and (ii) the aggregate principal balance of 40 Year Loans as of the last day of the related Due Period.

  • For each Distribution Date and each Yield Maintenance Agreement, the Trustee shall pay to Residential Funding, or to Residential Funding's designee, the excess of the amount paid by BSFP to the Trustee pursuant to such Yield Maintenance Agreement over the Reserve Fund Addition for the same Yield Maintenance Agreement.

  • For any Distribution Date prior to the Distribution Date in October 2016 (the 121st Distribution Date), zero, and (b) for the Distribution Date in October 2016 and each Distribution Date thereafter, if a Final Maturity Deficiency exists, an amount equal to the product of (i) one-twelfth of the Final Maturity Reserve Fund Addition Rate and (ii) the aggregate principal balance of the 40 Year Loans as of the first day of the related Due Period.

  • Upon receipt thereof from SWAPCO pursuant to the Yield Maintenance Agreement, the Trust Administrator shall deposit into Reserve Fund an amount equal to the Reserve Fund Addition subject to section (c) below.

  • All amounts received from the Cap Counterparty shall be treated as a Reserve Fund Addition.

  • For any Distribution Date prior to the Distribution Date in December 2016 (the 121st Distribution Date), zero, and (b) for the Distribution Date in December 2016 and each Distribution Date thereafter, if a Final Maturity Deficiency exists, an amount equal to the product of (i) one-twelfth of the Final Maturity Reserve Fund Addition Rate and (ii) the aggregate principal balance of the Loans as of the first day of the related Due Period.


More Definitions of Reserve Fund Addition

Reserve Fund Addition. With respect each Distribution Date, all amounts paid by Swapco under the Yield Maintenance Agreement.
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Reserve Fund Addition. With respect to each Yield Maintenance Agreement and each Distribution Date, the amount equal to the interest accrued during the related Interest Accrual Period at a rate equal to the excess of (x) LIBOR (which, on the first Distribution Date, shall equal 5.38% per annum) over (y) the related Strike Price, on an amount equal to the lesser of (i) the aggregate Stated Principal Balance of the related Mortgage Loans (other than the Converted Mortgage Loans) and (ii) the Yield Maintenance Notional Balance. The Reserve Fund Addition will be payable by BSFP under the Yield Maintenance Agreements.
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Related to Reserve Fund Addition

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Reserve Fund Deposit With respect to the Reserve Fund, an amount equal to $5,000, which the Depositor shall initially deposit into the Reserve Fund pursuant to Section 3.21 hereof.

  • Reserve Fund Required Amount means, (i) for any Payment Date on which the Note Balance is greater than $0, $4,792,570.75 (i.e., 0.25% of the Cutoff Date Adjusted Pool Balance) or (ii) if the Notes have been paid in full, $0.

  • Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to 0.50% of the Aggregate Securitization Value of the 2013-1 Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Reserve Fund Property means, the Reserve Fund Initial Deposit and all proceeds thereof and all other amounts deposited in or credited to the Reserve Fund from time to time under this Agreement, all Eligible Investments made with amounts on deposit therein, all earnings and distributions thereon and proceeds thereof.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • 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.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(g) in the name of the Trustee for the benefit of the Holders of the Offered Certificates and designated "The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2006-OC10, Mortgage Pass-Through Certificates, Series 2006-OC10." Funds in the Carryover Reserve Fund shall be held in trust for the Holders of the Offered Certificates for the uses and purposes set forth in this Agreement.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).