Examples of Rounding Account in a sentence
Amounts on deposit in the Rounding Account shall not be invested.
In addition, the Trustee on each Distribution Date shall, based upon information provided by the Master Servicer for the related Distribution Date, withdraw funds from the Certificate Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(i).
If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the applicable Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer.
The Trustee on each Distribution Date shall, based upon information provided by the Master Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay the Rounding Amount to the Holders of the Insured Certificates pursuant to Section 4.02(i).
Any amounts withdrawn by the Trustee from any Rounding Account shall be deposited in the Certificate Account for Group 1 for distribution to the Holders of the Special Retail Certificates as described in the preceding paragraph.