Swap Reserve Fund definition

Swap Reserve Fund shall have the meaning specified in subsection 4.16(a). "Swap Reserve Fund Surplus" shall mean, as of any Transfer Date, the amount, if any, by which the amount on deposit in the Swap Reserve Fund exceeds the Required Swap Reserve Fund Amount. "Transfer" shall have the meaning specified in subsection 19(a). "Transfer Agreement" shall mean the agreement among MBNA and the Collateral Interest Holder, dated as of the Closing Date, as amended or modified from time to time, relating to the transfer of the Collateral Interest. "Unallocated Principal Collections" shall have the meaning specified in subsection 4.05(e).
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Swap Reserve Fund shall have the meaning specified in subsection 4.16(a).
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Swap Reserve Fund. The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.09 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWHEQ, Inc., Asset-Backed Certificates, Series 2007-S3". Funds in the Swap Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
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Examples of Swap Reserve Fund in a sentence

  • The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Swap Reserve Fund and in all proceeds thereof.

  • Funds on deposit in the Swap Reserve Fund on any Transfer Date, after giving effect to any withdrawals from the Swap Reserve Fund on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date.

  • Funds on deposit in the Swap Reserve Fund shall be invested at the direction of the Servicer by the Trustee in Permitted Investments; provided, however, that, for purposes of the investment of funds on deposit in the Swap Reserve Fund, references in the definition of "Permitted Investments" to a rating of "A-1+" by Standard & Poor's shall be modified to require a rating of not lower than "A-1" by such Rating Agency.

  • The Swap Reserve Fund shall be under the sole dominion and control of the Trustee for the benefit of the Class A Certificateholders, the Swap Counterparty and the Seller.

  • If at any time the institution holding the Swap Reserve Fund ceases to be a Qualified Institution, the Seller shall notify the Trustee, and the Trustee upon being notified (or the Servicer on its behalf) shall, within 10 Business Days, establish a new Swap Reserve Fund meeting the conditions specified above with a Qualified Institution, and shall transfer any cash or any investments to such new Swap Reserve Fund.

  • The Trustee, at the direction of the Servicer, shall make withdrawals from the Swap Reserve Fund from time to time in an amount up to the Available Swap Reserve Fund Amount in the amounts and at the times set forth in this Section 4.16.

  • On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Swap Reserve Fund shall be retained in the Swap Reserve Fund (to the extent that the Available Swap Reserve Fund Amount (prior to taking into account any such interest and earnings) is less than the Required Swap Reserve Fund Amount) and the balance, if any, shall be paid to the Seller on such Transfer Date.

  • For purposes of determining the availability of funds or the balance in the Swap Reserve Fund for any reason under this Series Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit.

  • The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Swap Reserve Fund from time to time in an amount up to the Available Swap Reserve Fund Amount in the amounts and at the times set forth in subsection 4.14(b) and this Section 4.16, and (ii) on each Transfer Date prior to termination of the Swap Reserve Fund make a deposit into the Swap Reserve Fund in the amount specified in, and otherwise in accordance with, subsection 4.11(k).

  • For federal income tax purposes, the Swap Trust, including the Swap Account and Swap Reserve Fund, shall be owned by the Class C Certificates.


More Definitions of Swap Reserve Fund

Swap Reserve Fund shall have the meaning specified in subsection 4.16(a). "Swap Reserve Fund Surplus" shall mean, as of any Transfer Date, the amount, if any, by which the amount on deposit in the Swap Reserve Fund exceeds the Required Swap Reserve Fund Amount. "Telerate Page 3750" shall mean the display page currently so designated on the Dow Jone▇ ▇▇▇erate Service (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). "Unallocated Principal Collections" shall have the meaning specified in subsection 4.05(e).
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Swap Reserve Fund. The separate Eligible Account or Accounts created and maintained by the Supplemental Interest Trustee pursuant to Section 3.06(g) 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 LIBOR Certificates and Class AXPP Certificates and the Certificate Insurer and designated “IndyMac Bank, F.S.B., in trust for the registered Holders of IndyMac IMSC Mortgage Loan Trust 2007-HOA1, Mortgage Pass-Through Certificates, Series 2007-HOA1.”
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Swap Reserve Fund means the Price Swap Reserve Fund, the Senior Rate Swap Reserve Fund or the Subordinate Rate Swap Reserve Fund.
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Related to Swap Reserve Fund

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

  • 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 As defined in Section 3.4(d).

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

  • 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.