Rounding Account definition

Rounding Account. Not applicable.

Rounding Account. As defined in Section 3.23.

Rounding Account. The special account established with the Trustee and maintained by the Trustee pursuant to Section 4.07(e). The Rounding Account shall be an Eligible Account.

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).

• The chair, the lead director, if any, in the chair’s absence, or the most senior executive officer, if there is no lead director or in the lead director’s absence, shall act as chair of all meetings of the stockholders.

• On each Distribution Date on which a distribution is made in reduction of the Class Principal Balance of a Class of Special Retail Certificates, funds on deposit in the related Special Retail Rounding Account shall be, to the extent needed, withdrawn by the Trust Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Principal Balance to be made on such Class of Special Retail Certificates.

• Rounding of such distribution on such Class of Special Retail Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the related Special Retail Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Principal Balance of such Class of Special Retail Certificates upward to the next integral multiple of $1,000.

More Definitions of Rounding Account

Rounding Account. With respect to the Insured Certificates, the account created and maintained for such Insured Certificates pursuant to Section 4.09.

Rounding Account. With respect to each Class of Designated Retail Certificates, the respective segregated, non-interest bearing Eligible Account created and maintained therefor pursuant to Section 4.10.

Rounding Account. The separate trust account maintained with the Trustee pursuant to Section 3.22, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trustee on behalf of the Class III-A-19 Certificateholders, or any other account serving a similar function acceptable to the Rating Agencies, and which account provides that the Trustee may make, or cause to be made, withdrawals as provided in Section 3.22 hereof, to the extent of the amount then remaining in the Rounding Account.

Rounding Account. With respect to the Retail Certificates, the account created and maintained for such Retail Certificates pursuant to Section 4.10.

Rounding Account. The separate trust account established by deposit as of the Closing Date of $999.99 and maintained by the Servicer pursuant to Section 5.29, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trustee on behalf of the Holders of Class A-9 Certificates, or any other account serving a similar function acceptable to the Rating Agencies, and which account provides that the Servicer may make, or cause to be made, withdrawals as provided in Section 5.29 hereof.

Rounding Account. The separate trust account established by the deposit as of the Closing Date of $999.99 and maintained by the Trustee pursuant to Section 3.21, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trustee on behalf of the Class A-9 Certificateholders, or any other account serving a similar function acceptable to each Rating Agency, and which account provides that the Trustee may make, or cause to be made, withdrawals as provided in Section 3.21 hereof.

Rounding Account. With respect to the Insured Certificates, the account created and maintained for such Insured Certificates pursuant to Section 6.09.