Supplemental Interest Reserve Fund definition

Supplemental Interest Reserve Fund. The Supplemental Interest Reserve Fund established pursuant to Section 7.02(a) and maintained as described in Section 7.04.
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Supplemental Interest Reserve Fund. The separate fund created and initially maintained by the Supplemental Interest Trustee pursuant to Section 3.06 in the name of the Supplemental Interest Trustee for the benefit of the Holders of the Class 2-A-1 Certificates and designated "Deutsche Bank National Trust Company in trust for registered holders of Residential Asset Securitization Trust 2006-A14CB, Mortgage Pass-Through Certificates, Series 2006-N, Class 2-A-1." Funds in the Supplemental Interest Reserve Fund shall be held in trust for the Holders of the Class 2-A-1 Certificates for the uses and purposes set forth in this Agreement. The Supplemental Interest Reserve Fund will not be an asset of any REMIC.
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Supplemental Interest Reserve Fund. Not applicable.
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Examples of Supplemental Interest Reserve Fund in a sentence

  • Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees.

  • The Class X-IO Certificates also evidence ownership of the assets held from time to time in the Supplemental Interest Reserve Fund, as further described in Section 7.04 hereof.

  • Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders.

  • On each Distribution Date, the Trustee will withdraw amounts from the Certificate Account, the Supplemental Interest Reserve Fund and the Cap Agreement Reserve Fund and make the distributions with respect to the Certificates in accordance with the terms of the Certificates and this Agreement.

  • If no WAC Excess is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000.

  • The Subsidiary REMIC shall hold as its assets the Home Equity Loans and all collections and accounts related thereto, other than the Supplemental Interest Reserve Fund and the Cap Agreement Reserve Fund.

  • Each Certificate, other than the Class X-IO Certificates, also represents rights with respect to payments to be made from the Supplemental Interest Reserve Fund as further described in Section 7.04 of this Agreement.

  • The Trustee shall treat the rights of the Carryover Certificateholders to receive payments from the Supplemental Interest Reserve Fund as rights in an interest rate cap contract written by the Class X-IO Certificateholders in favor of the Carryover Certificateholders.

  • The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1).

  • The Supplemental Interest Trustee shall give notice to the Servicer, the Seller, each Rating Agency and the Depositor of any proposed change of the location of the Supplemental Interest Reserve Fund prior to any change thereof.


More Definitions of Supplemental Interest Reserve Fund

Supplemental Interest Reserve Fund. The fund maintained as described in Section 5.07.
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Supplemental Interest Reserve Fund. The Supplemental Interest Reserve Fund established and maintained as described in Section 3.21 and entitled "Bankers Trust Company of California, N.A., as Trustee for Aames Mortgage Trust 1999-2, Mortgage Pass-Through Certificates, Series 1999-2," Supplemental Interest Reserve Fund."
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Supplemental Interest Reserve Fund. The separate fund created and initially maintained by the Supplemental Interest Trustee pursuant to Section 3.06 in the name of the Supplemental Interest Trustee for the benefit of the Holders of the LIBOR Certificates and the Class A-X Certificates and the Class A-X Certificates, and designated “Deutsche Bank National Trust Company in trust for registered holders of “IndyMac IMSC Mortgage Loan Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-1, Class A-2, Class A-3, Class A-4 and Class A-X”. Funds in the Supplemental Interest Reserve Fund shall be held in trust for the Holders of the LIBOR Certificates for the uses and purposes set forth in this Agreement. The Supplemental Interest Reserve Fund will not be an asset of any REMIC.
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Supplemental Interest Reserve Fund. The separate Eligible Account or Accounts created and maintained by the Supplemental Interest Trustee pursuant to Section 3.06(i) with a depository institution in the name of the Supplemental Interest Trustee for the benefit of the Supplemental Interest Trustee on behalf of the Holders of the Offered Certificates and the Class C Certificates and designated “IndyMac Bank, F.S.B., in trust for the registered Holders of IndyMac INDX Mortgage Loan Trust 2007-FLX4, Mortgage Pass-Through Certificates, Series 2007-FLX4.”
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Related to Supplemental Interest Reserve Fund

  • Supplemental Interest Account As defined in Section 4.07 hereof.

  • 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.

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • 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.

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

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • 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 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.

  • Supplemental Servicing Fee means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

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

  • Supplemental Mortgage Loan Any Mortgage Loan other than an Initial Mortgage Loan conveyed to the Trust Fund pursuant to Section 2.01 hereof and to a Supplemental Transfer Agreement, which Mortgage Loan shall be listed on the revised Mortgage Loan Schedule delivered pursuant to this Agreement and on Schedule A to such Supplemental Transfer Agreement. When used with respect to a single Supplemental Transfer Date, Supplemental Mortgage Loan shall mean a Supplemental Mortgage Loan conveyed to the Trust Fund on that Supplemental Transfer Date.

  • Class E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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 Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.