Swap Account definition

Swap Account. The account or accounts created and maintained pursuant to Section 4.08. The Swap Account must be an Eligible Account.

Swap Account. As defined in Section 4.06.

Swap Account. The separate trust account created and maintained by the Swap Administrator, and held within the Supplemental Interest Trust, pursuant to the Swap Administration Agreement. Swap Administrator: LaSalle acting as swap administrator under the Swap Administration Agreement.

Examples of Swap Account in a sentence

• The Swap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.

• The beneficial owners of the Swap Account are the Class X Certificateholders.

• Upon termination of the Trust, any amounts remaining in the Swap Account shall be distributed pursuant to the priorities set forth in this Section 4.06.

• The Swap Account shall be an "outside reserve fund" for federal income tax purposes and not an asset of any Trust REMIC.

• Furthermore, the Holders of the Class X Certificates shall be the beneficial owners of the Swap Account for all federal income tax purposes, and shall be taxable on all income earned thereon.

More Definitions of Swap Account

Swap Account. The account created pursuant to Section 5.07(a) of this Agreement.

Swap Account. The separate Eligible Account created and initially maintained by the Swap Trustee pursuant to Section 4.09.

Swap Account. The separate trust account created and maintained by the Trustee.

Swap Account. The separate Eligible Account created and maintained by the Supplemental Interest Trust Trustee pursuant to Section 6.01(m) in the name of the Supplemental Interest Trust Trustee for the benefit of the Supplemental Interest Trust and designated "Xxxxx Fargo Bank, N.A., as supplemental interest trust trustee, in trust for registered holders of Xxxxxxx Xxxxx Alternative Note Asset Trust, Series 2007-OAR4." Funds in the Swap Account shall be held in trust for the Supplemental Interest Trust for the uses and purposes set forth in this Agreement.

Swap Account. The sub-account of the Supplemental Interest Trust Account created pursuant to Section 4.06(a).

Swap Account. The trust account created pursuant to Section 4.06 of this Agreement consisting of the Interest Rate Swap Agreement, the Class IO Interest and the right to receive Class IO Shortfalls, subject to the obligation to pay amounts specified in Section 4.06.

Swap Account means an account in the name of the Borrower with the Agent in Hamburg designated "Ultra One Shipping Ltd — Swap Account", or any other account (with that or another office of the Agent or with a bank or financial institution other than the Agent) which replaces this account and is designated by the Agent as the Swap Account for the purposes of this Agreement in accordance with the Agent's instructions in writing;