Common use of Acceptance of REMIC I by Trustee Clause in Contracts

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of the Policy and, subject to the provisions of Section 2.01 and subject to any exceptions noted on the exception report described in the next paragraph below, the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "REMIC I" under clauses (i), (iii), (iv) and (v) (to the extent of amounts deposited into the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "REMIC I" in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate Insurer.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of the Policy andreceipt, subject to the provisions of Section 2.01 and subject to any exceptions noted on the exception report described in the next paragraph below, of the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "REMIC I" under clauses (i), (iii), (iv) and (v) (to the extent of amounts deposited into the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "REMIC I" in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of the Policy and, subject to the provisions of Section 2.01 above and subject to any exceptions noted on the exception report described in the next paragraph below, of the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "“REMIC I" ” under clauses (i), (iii), (iv) and (v) (to the extent of amounts attributable thereto deposited into the Distribution Certificate Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "“REMIC I" ” in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee Trustee, acknowledges receipt of the Policy andreceipt, subject to the provisions of Section 2.01 and subject to any exceptions noted on the exception report described in the next paragraph below, the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "REMIC I" under clauses (i), (iii), (iv) and (v) (to the extent of amounts attributable thereto deposited into the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "REMIC I" in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of by the Policy and, Custodian subject to the provisions of Section 2.01 above and subject to any exceptions noted on the exception report described in the next paragraph below, of the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "“REMIC I" ” under clauses (i), (iii), (iv) and (v) (to the extent of amounts attributable thereto deposited into the Distribution Certificate Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "“REMIC I" ” in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of by the Policy and, Custodian subject to the provisions of Section 2.01 above and subject to any exceptions noted on the exception report described in the next paragraph below, of the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "“REMIC I" ” under clauses (i), (iii), (iv) and (v) (to the extent of amounts attributable thereto deposited into the Distribution Certificate Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it it, or the Custodian on its behalf, holds or will hold all such assets and such other assets included in the definition of "“REMIC I" ” in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of the Policy andreceipt, subject to the provisions of Section 2.01 above and subject to any exceptions noted on the exception report described in the next paragraph below, of the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "“REMIC I" ” under clauses (i), (iii), (iv) and (v) (to the extent of amounts attributable thereto deposited into the Distribution Certificate Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "“REMIC I" ” in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee acknowledges receipt of the Policy andreceipt, subject to the provisions of Section 2.01 and subject to any exceptions noted on the exception report described in the next paragraph below, the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "REMIC I" under clauses (i), (iii), (iv) and (v) (to the extent of amounts deposited into the Pre-Funding Account, the Interest Coverage Account and the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "REMIC I" in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate InsurerCertificateholders.

Acceptance of REMIC I by Trustee. The Trustee Trust Administrator, on behalf of the Trustee, acknowledges receipt of the Policy and, subject to the provisions of Section 2.01 and subject to any exceptions noted on the exception report described in the next paragraph below, the documents referred to in Section 2.01 (other than such documents described in Section 2.01(v)) above and all other assets included in the definition of "REMIC I" under clauses (i), (iii), (iv) and (v) (to the extent of amounts deposited into the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting a Mortgage File, and that it holds or will hold all such assets and such other assets included in the definition of "REMIC I" in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate Insurer.