Initial Certificate Account Deposit definition

Initial Certificate Account Deposit. An amount equal to the aggregate of all amounts in respect of (i) principal of the Initial Mortgage Loans due after the Initial Cut-off Date and received by the Master Servicer before the Closing Date and not applied in computing the Cut-off Date Principal Balance thereof and (ii) interest on the Initial Mortgage Loans due after the Initial Cut-off Date and received by the Master Servicer before the Closing Date.
View Source
Initial Certificate Account Deposit. An amount equal to the aggregate of all amounts in respect of (i) principal of the Initial Mortgage Loans due on or after the Initial Cut-off Date and received by the Master Servicer before the Closing Date and not applied in computing the Cut-off Date Principal Balance thereof, (ii) interest on the Initial Mortgage Loans due on and after the Initial Cut-off Date and received by the Master Servicer before the Closing Date and (iii) $100 in respect of the Class A-R Certificates.
View Source

Examples of Initial Certificate Account Deposit in a sentence

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • With respect to any Loan that does not require the first payment of principal or interest thereon to be made on or before such Loan's Due Date in the month prior to the first Distribution Date, such Seller shall deposit into the Certificate Account on the Closing Date, an amount equal to one month's interest at the related Mortgage Rate on the Cut-off Date Principal Balance of such Loan (the "Initial Certificate Account Deposit").

  • Initial Certificate Account Deposit ----------------------------------- As defined in Section 2.01(a).

  • The Seller confirms that, concurrently with the transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Seller confirms that, concurrently with such transfer and assignment, it has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it or the applicable Seller has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • The Master Servicer confirms that, on behalf of the Sellers, concurrently with the transfer and assignment, it or the other Seller has deposited into the Certificate Account the Initial Certificate Account Deposit.

  • Initial Certificate Account Deposit As defined in Section 2.01(a).

Related to Initial Certificate Account Deposit