Common use of Accounting and Directions by Trustee Clause in Contracts

Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor and each Owner, of the following information with respect to such Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Date; (3) The amount of any Excess Interest; (4) The application of the amounts described in clauses (1) and (3) above to be made on such Distribution Date in accordance with Section 7.03 hereof; (5) The Certificate Principal Balance of each Class, the aggregate amount of the principal of each Class of the Offered Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each Class of Offered Certificates following any such payment; (6) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution Date; and (7) The amount of any Subordination Increase Amount, any Excess Overcollateralization Amount and the Required Overcollateralization Amount, in each case for the relevant Distribution Date.

Accounting and Directions by Trustee. (a) By 12:00 noon New York time, on the Business Day preceding each Distribution Date (or such earlier period as shall be agreed by the Seller Depositor and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively relyServicer) the SellerDepositor, the Depositor Seller and each Owner, Certificateholder of the following information with respect to such the next Distribution Date (which notification may be given by facsimile, facsimile or by telephone promptly confirmed in writing): (1i) The aggregate amount then on deposit in the Certificate Account as of the related Determination DateAccount; (2ii) The Class Principal A Distribution Amount, with respect to each the Class individuallyM-1 Distribution Amount, the Class M-2 Distribution Amount and all Classes in the aggregate on the next Class B Distribution DateAmount; (3) The amount of any Excess Interest; (4iii) The application of the amounts described in clauses clause (1i) preceding to the allocation and (3) above to be made distribution of the related Class A Distribution Amount, the related Class M-1 Distribution Amount, the related Class M-2 Distribution Amount and the related Class B Distribution Amount, on such Distribution Date in accordance with Section 7.03 hereof; (5iv) The Certificate Principal Balance of each ClassClass of the Offered Certificates, the aggregate amount of the principal of each such Class of the Offered Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each such Class of Offered Certificates following any such payment; (6v) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution DateDue Period; and (7vi) The amount of any Subordination Increase Amount, any Excess Overcollateralization Amount and the Required Overcollateralization Amount, in each case for the relevant Distribution Date60+ Day Delinquent Loans.

Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor Depositor, each Owner and each Ownerthe Certificate Insurer, of the following information with respect to such Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Date; (3) The amount of any Excess InterestSubordination Increase Amount for each Group; (4) The amount of any Insured Payment to be made by the Certificate Insurer on such Distribution Date; (5) The application of the amounts described in clauses (1), (3) and (34) above to be made in respect of the distribution of the Class A Distribution Amount on such Distribution Date in accordance with Section 7.03 hereof; (56) The Class A Certificate Principal Balance of each ClassBalance, the aggregate amount of the principal of each Class of the Offered Class A Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each Class of Offered Class A Certificates following any such payment; (67) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution Date; andPeriod; (7) 8) The amount of any Subordination Increase AmountDeficit, any Excess Overcollateralization Subordination Reduction Amount and the Required Overcollateralization Amount, in Specified Subordination Amount for each case for the relevant Distribution Date.Group; (9) [Reserved]

Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor Depositor, each Owner and each Ownerthe Certificate Insurer, of the following information with respect to such Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Date; (3) The amount of any Excess InterestExtra Principal Distribution Amount for each Group; (4) The amount of any Insured Payment to be made by the Certificate Insurer on such Distribution Date; (5) The application of the amounts described in clauses (1), (3) and (34) above to be made in respect of the distribution of the Class A Distribution Amount on such Distribution Date in accordance with Section 7.03 hereof; (56) The Class A Certificate Principal Balance of each ClassBalance, the aggregate amount of the principal of each Class of the Offered Class A Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each Class of Offered Class A Certificates following any such payment; (67) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution DatePeriod; and (7) 8) The amount of any Subordination Increase AmountCollateralization Deficit, any Excess Overcollateralization Release Amount and the Required Target Overcollateralization Amount, in Amount for each case for the relevant Distribution DateGroup.

Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Payment Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor Depositor, each Owner and each Ownerthe Certificate Insurer, of the following information with respect to such Distribution Payment Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Payment Date; (3) The amount of any Excess InterestSubordination Increase Amount for each Group; (4) The amount of any Insured Payment to be made by the Certificate Insurer on such Payment Date; (5) The application of the amounts described in clauses (1), (3) and (34) above to be made in respect of the distribution of the Class A Distribution Amount on such Distribution Payment Date in accordance with Section 7.03 hereof; (56) The Class A Certificate Principal Balance of each ClassBalance, the aggregate amount of the principal of each Class of the Offered Class A Certificates to be paid on such Distribution Payment Date and the remaining Certificate Principal Balance of each Class of Offered Class A Certificates following any such payment; (67) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution Date; andPeriod; (7) 8) The amount of any Subordination Increase AmountDeficit, any Excess Overcollateralization Subordination Reduction Amount and the Required Overcollateralization Amount, in Specified Subordination Amount for each case for the relevant Distribution Date.Group; (9) [Reserved]

Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor Depositor, each Owner and each Ownerthe Certificate Insurer, of the following information with respect to such Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Date; (3) The amount of any Excess InterestExtra Principal Distribution Amount for each Group; (4) The amount of any Insured Payment to be made by the Certificate Insurer on such Distribution Date; (5) The application of the amounts described in clauses (1), (3) and (34) above to be made on such Distribution Date in accordance with Section 7.03 hereof; (56) The Certificate Principal Balance of each Class, the aggregate amount of the principal of each Class of the Offered Class A Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each Class of Offered Class A Certificates following any such payment; (67) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution DatePeriod; and (7) 8) The amount of any Subordination Increase AmountCollateralization Deficit, any Excess Overcollateralization Release Amount and the Required Target Overcollateralization Amount, in Amount for each case for the relevant Distribution DateGroup.

Accounting and Directions by Trustee. By 12:00 noon New York time, on (a) On or before the Business Day preceding each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee)Payment Date, the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor and each Owner, the Seller of the following information with respect to such Distribution the next Payment Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount then on deposit in the Certificate Account as of the related Determination DateAccount; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes of the Class A Certificates in the aggregate aggregate, on the next Payment Date, the related Class M-1 Distribution DateAmount, the related Class M-2 Distribution Amount, the related Class B-1 Distribution Amount, the Class C-IO Distribution Amount and the Class S Distribution Amount; (3) The amount of any Excess Interest; (4) The application of the amounts described in clauses clause (1) and (3) above to be made the allocation and distribution of the related Class A Distribution Amount, the related Class M-1 Distribution Amount, the related Class M-2 Distribution Amount, the related Class B-1 Distribution Amount and the Class C-IO Distribution Amount, on such Distribution Payment Date in accordance with Section 7.03 hereof; (54) The Certificate Principal Balance of each ClassClass of the Offered Certificates, the Notional Principal Amount for each Class of Class C-IO Certificates the aggregate amount of the principal of each Class of the Offered Certificates to be paid on such Distribution Payment Date and the remaining Certificate Principal Balance of each Class of the Offered Certificates (or the Notional Principal Amount for each Class of C-IO Certificates) following any such payment; (65) The amount, if any, of any Realized Losses for relating to each Home Equity Loan Group for the related Remittance Period and any Applied the amount of Cumulative Realized Loss Amounts with respect Losses relating to each Group as of the last day of the related Remittance Period; (6) For the Payment Dates in March, April and May 1998, and as to each Group and in the aggregate (A) the related Pre-Funded Amount previously used to purchase Subsequent Mortgage Loans, (B) the related Pre-Funded Amount distributed as part of the related Principal Distribution Amount, (C) the related Pre-Funding Account Earnings transferred to the Subordinate Certificates for Capitalized Interest Account, and (D) the related Distribution Date; andamounts transferred from the Capitalized Interest Account to the Certificate Account and the Overfunded Interest Amount to the Seller, if any; (7) The amount of any Subordination Increase the Class D Distribution Amount, any Excess Overcollateralization Amount and ; and (8) the Required Overcollateralization Amount, in amount of 60+ Day Delinquent Loans relating to each case for the relevant Distribution DateGroup.

Accounting and Directions by Trustee. By 12:00 noon New York time, on (a) On or before the Business Day preceding each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee)Payment Date, the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the SellerDepositor, the Depositor Guarantor and each Owner, the Seller of the following information with respect to such Distribution Payment Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount then on deposit in the Certificate Account as of the related Determination DateAccount; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes of the Class A Certificates in the aggregate aggregate, on the next Payment Date, the Class M-1A Distribution DateAmount, the Class M-2A Distribution Amount, the related Class B-1 Distribution Amount, the related Class C-IO Distribution Amount and the Class S Distribution Amount; (3) The amount of any Excess Interest; (4) The application of the amounts described in clauses clause (1) and (3) above to be made the allocation and distribution of the related Class A Distribution Amount, the Class M-1A Distribution Amount, the Class M-2A Distribution Amount, the related Class B-1 Distribution Amount and the Class C-IO Distribution Amount, on such Distribution Payment Date in accordance with Section 7.03 hereof; (54) The Certificate Principal Balance of each ClassClass of the Offered Certificates, the Notional Principal Amount for each Class of Class C-IO Certificates the aggregate amount of the principal of each Class of the Offered Certificates to be paid on such Distribution Payment Date and the remaining Certificate Principal Balance of each Class of the Offered Certificates (or the Notional Principal Amount for each Class of C-IO Certificates) following any such payment; (65) The amount, if any, of any Realized Losses for relating to each Home Equity Loan Group for the related Remittance Collection Period and any Applied the amount of Cumulative Realized Loss Amounts with respect Losses relating to each Group as of the Subordinate Certificates for last day of the related Collection Period; (6) The amount of the Class D Distribution Date; andAmount; (7) The amount of any Subordination Increase 60+ Day Delinquent Loans relating to each Group; and (8) Any Deficiency Amount, any Excess Overcollateralization Amount and the Required Overcollateralization Amount, in each case for the relevant Distribution Date.

Accounting and Directions by Trustee. By 12:00 noon New York time, on (a) On or before the Business Day preceding each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee)Payment Date, the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor and each Owner, the Seller of the following information with respect to such Distribution Payment Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount then on deposit in the Certificate Account as of the related Determination DateAccount; (2) The Class Principal A Distribution Amount, with respect to each Class individually, and all Classes of the Class A Certificates in the aggregate aggregate, on the next Payment Date, the related Class M-1 Distribution DateAmount, the related Class M-2 Distribution Amount, the related Class B-1 Distribution Amount, the Class C-IO Distribution Amount and the Class S Distribution Amount; (3) The amount of any Excess Interest; (4) The application of the amounts described in clauses clause (1) and (3) above to be made the allocation and distribution of the related Class A Distribution Amount, the related Class M-1 Distribution Amount, the related Class M-2 Distribution Amount, the related Class B-1 Distribution Amount and the Class C-IO Distribution Amount, on such Distribution Payment Date in accordance with Section 7.03 hereof; (54) The Certificate Principal Balance of each ClassClass of the Offered Certificates, the Notional Principal Amount for each Class of Class C-IO Certificates the aggregate amount of the principal of each Class of the Offered Certificates to be paid on such Distribution Payment Date and the remaining Certificate Principal Balance of each Class of the Offered Certificates (or the Notional Principal Amount for each Class of C-IO Certificates) following any such payment; (65) The amount, if any, of any Realized Losses for relating to each Home Equity Loan Group for the related Remittance Collection Period and any Applied the amount of Cumulative Realized Loss Amounts with respect Losses relating to each Group as of the last day of the related Collection Period; (6) For the Payment Date in July 1998, and as to each Group and in the aggregate (A) the related Pre-Funded Amount previously used to purchase Subsequent Mortgage Loans, (B) the related Pre-Funded Amount distributed as part of the related Principal Distribution Amount, (C) the related Pre-Funding Account Earnings transferred to the Subordinate Certificates for Capitalized Interest Account, (D) the related Distribution Date; andamounts transferred from the Capitalized Interest Account to the Certificate Account and (E) the Overfunded Interest Amount transferred to the Seller, if any; (7) The amount of any Subordination Increase the Class D Distribution Amount, any Excess Overcollateralization Amount and ; and (8) the Required Overcollateralization Amount, in amount of 60+ Day Delinquent Loans relating to each case for the relevant Distribution DateGroup.