Common use of The Swap Agreement Clause in Contracts

The Swap Agreement. (a) On the Closing Date, the Trustee shall (i) establish and maintain in its name, in trust for the benefit of Class A and Mezzanine Certificates, the Swap Account and (ii) for the benefit of the Class A and Mezzanine Certificates, cause the Trust to enter into the Swap Agreement. The Trustee shall deposit in the Swap Account all payments that are payable to the Trust Fund under the Swap Agreement. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Trustee to the Swap Counterparty pursuant to the Swap Agreement shall be excluded from the Available Distribution Amount and payable to the Swap Counterparty prior to any distributions to the Certificateholders. On the Business Day prior to each Distribution Date, such amounts will be remitted by the Trustee to the Swap Account for payment to the Swap Counterparty, first to make any Net Swap Payment owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date, and second to make any Swap Termination Payment (not due to a Swap Counterparty Trigger Event) owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date. For federal income tax purposes, such amounts paid to the Swap Account on the Business Day prior to each Distribution Date shall be deemed paid to the Swap Account in respect of REMIC II Regular Interest CE-IO to the extent of the amount distributable on such REMIC II Regular Interest on such Distribution Date. Any Swap Termination Payment triggered by a Swap Counterparty Trigger Event owed to the Swap Counterparty pursuant to the Swap Agreement will be subordinated to distributions to the Holders of the Class A and Mezzanine Certificates and shall be paid as set forth under Section 4.01(a)(4)(v). Net Swap Payments payable by the Swap Counterparty to the Trustee on behalf of the Trust Fund pursuant to the Swap Agreement will be deposited by the Trustee into the Swap Account. On each Distribution Date, to the extent required, the Trustee shall withdraw the following amounts from the Swap Account to distribute to the Certificates in the following order of priority, in the case of clauses (D), (F), (G) and (H), to the extent not covered by Net Monthly Excess Cash Flow:

The Swap Agreement. (a) On the Closing Date, the Trustee shall (i) establish and maintain in its name, in trust for the benefit of Class A and Mezzanine Certificates, the Swap Account and (ii) for the benefit of the Class A and Mezzanine Certificates, cause the Trust to enter into the Swap Agreement. The Trustee shall deposit in the Swap Account all payments that are payable to the Trust Fund under the Swap Agreement. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Trustee to the Swap Counterparty pursuant to the Swap Agreement shall be excluded from the Available Distribution Amount and payable shall be paid to the Swap Counterparty pursuant to the Swap Agreement prior to any distributions to the Certificateholders. On the Business Day prior to each Distribution Date, such amounts will be remitted by the Trustee to the Swap Account for payment to the Swap Counterparty, first to make any Net Swap Payment owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date, and second to make any Swap Termination Payment (not due to a Swap Counterparty Trigger Event) owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date. For federal income tax purposes, such amounts paid to the Swap Account on the Business Day prior to each Distribution Date shall be deemed paid to the Swap Account in respect of REMIC II Regular Interest CE-IO to the extent of the amount distributable on such REMIC II Regular Interest on such Distribution Date. Any Swap Termination Payment triggered by a Swap Counterparty Trigger Event owed to the Swap Counterparty pursuant to the Swap Agreement will be subordinated to distributions to the Holders of the Class A and Mezzanine Certificates and shall be paid as set forth under Section 4.01(a)(4)(v). Net Swap Payments payable by the Swap Counterparty to the Trustee on behalf of the Trust Fund pursuant to the Swap Agreement will be deposited by the Trustee into the Swap Account. On each Distribution Date, to the extent required, the Trustee shall withdraw the following amounts from the Swap Account to distribute to the Certificates in the following order of priority, in the case of clauses (D), (F), (G) and (H), to the extent not covered by Net Monthly Excess Cash Flow:

The Swap Agreement. (a) On the Closing Date, the Trustee shall (i) establish and maintain in its name, in trust for the benefit of Class A and Mezzanine Certificates, the Swap Account and (ii) for the benefit of the Class A and Mezzanine Certificates, cause the Trust to enter into the Swap Agreement. The Trustee shall deposit in the Swap Account all payments that are payable to the Trust Fund under the Swap Agreement. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Trustee to the Swap Counterparty pursuant to the Swap Agreement shall be excluded from the Available Distribution Amount and payable to the Swap Counterparty prior to any distributions to the Certificateholders. On the Business Day prior to each Distribution Date, such amounts will be remitted by the Trustee to the Swap Account for payment to the Swap Counterparty, first to make any Net Swap Payment owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date, and second to make any Swap Termination Payment (not due to a Swap Counterparty Trigger Event) owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date. For federal income tax purposes, such amounts paid to the Swap Account on the Business Day prior to each Distribution Date shall be deemed paid to the Swap Account in respect of REMIC II Regular Interest CE-IO to the extent of the amount distributable on such REMIC II Regular Interest on such Distribution Date. Any Swap Termination Payment triggered by a Swap Counterparty Trigger Event owed to the Swap 100 Counterparty pursuant to the Swap Agreement will be subordinated to distributions to the Holders of the Class A and Mezzanine Certificates and shall be paid as set forth under Section 4.01(a)(4)(v). Net Swap Payments payable by the Swap Counterparty to the Trustee on behalf of the Trust Fund pursuant to the Swap Agreement will be deposited by the Trustee into the Swap Account. On each Distribution Date, to the extent required, the Trustee shall withdraw the following amounts from the Swap Account to distribute to the Certificates in the following order of priority, in the case of clauses (D), (F), (G) and (H), to the extent not covered by Net Monthly Excess Cash Flow:

The Swap Agreement. (a) On the Closing Date, the Trustee shall (i) establish and maintain in its name, in trust for the benefit of Class A and Mezzanine Certificates, the Swap Account and (ii) for the benefit of the Class A and Mezzanine Certificates, cause the Trust to enter into the Swap Agreement. The Trustee shall deposit in the Swap Account all payments that are payable to the Trust Fund under the Swap Agreement. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Trustee to the Swap Counterparty pursuant to the Swap Agreement shall be excluded from the Available Distribution Amount and payable shall be paid to the Swap Counterparty pursuant to the Swap Agreement prior to any distributions to the Certificateholders. On the Business Day prior to each Distribution Date, such amounts will be remitted by the Trustee to the Swap Account for payment to the Swap Counterparty, first to make any Net Swap Payment owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date, and second to make any Swap Termination Payment (not due to a Swap Counterparty Trigger Event) owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date. For federal income tax purposes, such amounts paid to the Swap Account on the Business Day prior to each Distribution Date shall be deemed paid to the Swap Account in respect of REMIC II Regular Interest CE-IO to the extent of the amount distributable on such REMIC II Regular Interest on such Distribution Date. Any Swap Termination Payment triggered by a Swap Counterparty Trigger Event owed to the Swap Counterparty pursuant to the Swap Agreement will be subordinated to distributions to the Holders of the Class A and Mezzanine Certificates and shall be paid as set forth under Section 4.01(a)(4)(v). Net Swap Payments payable by the Swap Counterparty to the Trustee on behalf of the Trust Fund pursuant to the Swap Agreement will be deposited by the Trustee into the Swap Account. On each Distribution Date, to the extent required, the Trustee shall withdraw the following amounts from the Swap Account to distribute to the Certificates in the following order of priority, in the case of clauses (D), (F), (G) and (H), to the extent not covered by Net Monthly Excess Cash Flow:: 106

The Swap Agreement. (a) On the Closing Date, the Trustee Securities Administrator, on behalf of the Trust shall (i) establish and maintain in its name, in trust for the benefit of Class A and Mezzanine Certificates, the Swap Account and (ii) for the benefit of the Class A and Mezzanine Certificates, cause the Trust to enter into the Swap Agreement. The Trustee Securities Administrator, on behalf of the Trust, shall deposit in the Swap Account all payments that are payable to the Trust Fund under the Swap Agreement. Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Trustee Securities Administrator, on behalf of the Trust, to the Swap Counterparty pursuant to the Swap Agreement shall be excluded from the Available Distribution Amount and payable shall be paid to the Swap Counterparty pursuant to the Swap Agreement prior to any distributions to the Certificateholders. On the Business Day prior to each Distribution Date, such amounts will be remitted by the Trustee Securities Administrator, on behalf of the Trust, to the Swap Account for payment to the Swap Counterparty, first to make any Net Swap Payment owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date, and second to make any Swap Termination Payment (not due to a Swap Counterparty Trigger Event) owed to the Swap Counterparty pursuant to the Swap Agreement for such Distribution Date. For federal income tax purposes, such amounts paid to the Swap Account on the Business Day prior to each Distribution Date shall be deemed paid to the Swap Account in respect of REMIC II Regular Interest CE-IO to the extent of the amount distributable on such REMIC II Regular Interest on such Distribution Date. Any Swap Termination Payment triggered by a Swap Counterparty Trigger Event owed to the Swap Counterparty pursuant to the Swap Agreement will be subordinated to distributions to the Holders of the Class A and Mezzanine Certificates and shall be paid as set forth under Section 4.01(a)(4)(v5.01(a)(5)(v). Net Swap Payments payable by the Swap Counterparty to the Trustee Securities Administrator on behalf of the Trust Fund pursuant to the Swap Agreement will be deposited by the Trustee Securities Administrator into the Swap Account. On each Distribution Date, to the extent required, the Trustee Securities Administrator, on behalf of the Trust, shall withdraw the following amounts from the Swap Account to distribute to the Certificates in the following order of priority, in the case of clauses (D), (F), (G) and (H), to the extent not covered by Net Monthly Excess Cash Flow: