Common use of Cap Collateral Account Clause in Contracts

Cap Collateral Account. The Securities Administrator is hereby directed to perform the obligations of the Custodian as defined under the Cap Credit Support Annex (the “Cap Custodian”). On or shortly after the Closing Date, the Cap Custodian shall establish a Cap Collateral Account. The Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Holders of Class A-4 Certificates. The Cap Collateral Account must be an Eligible Account and shall be entitled “Nomura Asset Acceptance Corporation, Asset-Backed Certificates, Series 2007-2, Cap Collateral Account, HSBC Bank USA, National Association, as Cap Custodian for the benefit of holders of Asset-Backed Certificates, Series 2007-2.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Provider to secure the obligations of the Cap Provider in accordance with the terms of the Cap Contract. Except for investment earnings, the Cap Provider shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with this Agreement, the Cap Contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Provider in accordance with the Cap Credit Support Annexes shall be invested at the direction of the Cap Provider in Permitted Investments in accordance with the requirements of the Cap Credit Support Annex. In the absence of such direction, amounts therein will remain uninvested. All amounts earned on amounts on deposit in the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Provider. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Cap Contract) with respect to the Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Cap Contract) as a result of any such Event of Default or Specified Condition with respect to the Cap Provider, and, in either such case, unless the Cap Provider has paid in full all of its Obligations (as defined in the Cap Credit Support Annex) that are then due, then any collateral posted by the Cap Provider in accordance with the Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Cap Contract) in accordance with the Cap Credit Support Annex. Any excess amounts held in the Cap Collateral Account after payment of all amounts owing to Party B under the Cap Contract shall be withdrawn from the Cap Collateral Account and paid to the Cap Provider in accordance with the Cap Credit Support Annex.

Cap Collateral Account. The Securities Administrator is hereby directed to perform the obligations of the Custodian as defined under the Cap Credit Support Annex (the “Cap Custodian”). On or shortly after before the Closing Date, the Cap Custodian shall establish a Cap Collateral Account with respect to each of the Cap Contracts (the “Cap Collateral Account”). The Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Holders of Class A-4 A Certificates and Mezzanine Certificates. The Cap Collateral Account must shall be an Eligible Account and shall be entitled “Nomura Asset Acceptance Corporation, Asset-Backed Certificates, Series 2007-2, Cap Collateral Account, HSBC Bank USAWxxxx Fargo Bank, National Association, as Cap Custodian Association for the benefit of holders of Asset-Backed CertificatesACE Securities Corp. Home Equity Loan Trust, Series 2007-2HE2, Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Provider Counterparty to secure the obligations of the Cap Provider Counterparty in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Provider Counterparty shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with this Agreement, the related Cap Contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the any Cap Collateral Account in accordance with the Cap Credit Support Annex. 189 Cash collateral posted by the Cap Provider Counterparty in accordance with the related Cap Credit Support Annexes Annex shall be invested at the direction of the Cap Provider Counterparty in Permitted Investments in accordance with the requirements of the Cap Credit Support Annex. In the absence of such direction, amounts therein will remain uninvested. All amounts earned on amounts on deposit in the a Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap ProviderCounterparty. If no investment direction is provided, funds will be held uninvested. Upon the occurrence of an Event of Default or a Specified Condition (each as defined in the related Cap Contract) with respect to the Cap Provider Counterparty or upon occurrence or designation of an Early Termination Date (as defined in the related Cap Contract) as a result of any such Event of Default or Specified Condition with respect to the Cap ProviderCounterparty, and, in either such case, unless the Cap Provider Counterparty has paid in full all of its Obligations (as defined in the related Cap Credit Support Annex) that are then due, then any collateral posted by the Cap Provider Counterparty in accordance with the related Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the related Cap Contract) in accordance with the related Cap Credit Support Annex. Any excess amounts held in the such Cap Collateral Account after payment of all amounts owing to Party B under the related Cap Contract shall be withdrawn from the Cap Collateral Account and paid to the Cap Provider Counterparty in accordance with the related Cap Credit Support Annex.

Cap Collateral Account. The Securities Administrator is hereby directed to perform the obligations of the Custodian as defined under the Cap Credit Support Annex (the “Cap Custodian”). On or shortly after before the Closing Date, the Cap Custodian shall establish a Cap Collateral Account. The Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Holders of Class A-4 CertificatesCertificates on the Closing Date. The Cap Swap Collateral Account must shall be an Eligible Account and shall be entitled “Cap Posted Collateral Account, Xxxxx Fargo Bank, National Association for the benefit of holders of Nomura Asset Acceptance CorporationHome Equity Loan, Inc., Asset-Backed Certificates, Series 20072006-2AF1, Cap Collateral Account, HSBC Bank USA, National Association, as Cap Custodian for the benefit of holders of Asset-Backed Certificates, Series 2007-2.” Class A-4”. The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Provider to secure the obligations of the Cap Provider in accordance with the terms of the Cap Contract. Except for investment earnings, the Cap Provider shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with this Agreement, the Cap Contract contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Swap Provider in accordance with the Cap Credit Support Annexes Annex shall be invested at the direction of the Cap Provider Depositor in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no investment direction is received or provided, the Securities Administrator shall invest the funds in accordance with the requirements of the Cap Credit Support Annex. In the absence of such direction, amounts therein will remain uninvestedXxxxx Fargo Advantage Prime Investment Money Market Fund. All amounts earned on amounts on deposit in the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Provider. Upon the occurrence of an Event of Default Default, a Termination Event, or Specified Condition an Additional Termination Event (each as defined in the Cap Contract) with respect to the Cap Provider or upon occurrence or designation of an Early Termination Date (as defined ), amounts in the Cap Contract) as a result of any such Event of Default or Specified Condition with respect to the Cap Provider, and, in either such case, unless the Cap Provider has paid in full all of its Obligations (as defined in the Cap Credit Support Annex) that are then due, then any collateral posted Collateral Account shall be withdrawn by the Cap Provider in accordance with the Cap Credit Support Annex shall be Custodian and applied to the payment of any Obligations termination payment due to Party B (as defined in the Cap Contract) in accordance with the Cap Credit Support Annex. Any excess amounts held in the such Cap Collateral Account after payment of all amounts owing to Party B under the Cap Contract shall be withdrawn from the Cap Collateral Account and paid to the Cap Provider in accordance with the Cap Credit Support Annex.

Cap Collateral Account. The Securities Administrator is hereby directed to perform the obligations of the Custodian custodian as defined under the Cap Credit Support Annex (the “Cap Custodian”). On or shortly after before the Closing Date, the Cap Custodian shall establish a Cap Collateral Account (the “Cap Collateral Account”). The Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Holders of Class A-4 A Certificates. The Cap Collateral Account must shall be an Eligible Account and shall be entitled “Nomura Asset Acceptance Corporation, Asset-Backed Certificates, Series 2007-2, Cap Collateral Account, HSBC Bank USAXxxxx Fargo Bank, National Association, as Cap Custodian Association for the benefit of holders of Asset-Backed CertificatesACE Securities Corp. Home Equity Loan Trust, Series 2007-2SL2, Class A Certificates.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Provider Counterparty to secure the obligations of the Cap Provider Counterparty in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Provider Counterparty shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with this Agreement, the related Cap Contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the any Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Provider Counterparty in accordance with the related Cap Credit Support Annexes Annex shall be invested at the direction of the Cap Provider Counterparty in Permitted Investments in accordance with the requirements of the Cap Credit Support Annex. In the absence of such direction, amounts therein will remain uninvested. All amounts earned on amounts on deposit in the a Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap ProviderCounterparty. If no investment direction is provided, funds will be held uninvested. Upon the occurrence of an Event of Default or a Specified Condition (each as defined in the related Cap Contract) with respect to the Cap Provider Counterparty or upon occurrence or designation of an Early Termination Date (as defined in the related Cap Contract) as a result of any such Event of Default or Specified Condition with respect to the Cap ProviderCounterparty, and, in either such case, unless the Cap Provider Counterparty has paid in full all of its Obligations (as defined in the related Cap Credit Support Annex) that are then due, then any collateral posted by the Cap Provider Counterparty in accordance with the related Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the related Cap Contract) in accordance with the related Cap Credit Support Annex. Any excess amounts held in To the extent the Cap Collateral Account after payment Custodian is required to return any of all amounts owing to Party B under the Cap Contract shall be withdrawn from the Cap Collateral Account and paid posted collateral to the Cap Provider in accordance with Counterparty under the terms of the Cap Credit Support Annex., the Cap Custodian shall return such collateral in accordance with the terms of the Cap Credit Support Annex. 156

Cap Collateral Account. The Securities Administrator is hereby directed to perform the obligations of the Custodian as defined under the Cap Credit Support Annex Annexes (the “Cap Custodian”). On or shortly after the Closing Date, the Cap Custodian shall establish a Cap Collateral Account. The Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Holders of Class A-4 Certificates. The Cap Collateral Account must be an Eligible Account and shall be entitled “Nomura Asset Acceptance CorporationHome Equity Loan, Inc., Asset-Backed Certificates, Series 2007-21, Cap Collateral Account, HSBC Bank USA, National Association, as Cap Custodian for the benefit of holders of Asset-Backed Certificates, Series 2007-21.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Provider to secure the obligations of the Cap Provider in accordance with the terms of the Cap ContractContracts. Except for investment earnings, the Cap Provider shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with this Agreement, the Cap Contract Contracts and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Cap Collateral Account in accordance with the each Cap Credit Support Annex. Cash collateral posted by the Cap Provider in accordance with the a Cap Credit Support Annexes shall be invested at the direction of the Cap Provider in Permitted Investments in accordance with the requirements of the related Cap Credit Support Annex. In the absence of such direction, amounts therein will remain uninvested. All amounts earned on amounts on deposit in the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Provider. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the related Cap Contract) with respect to the Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the related Cap Contract) as a result of any such Event of Default or Specified Condition with respect to the Cap Provider, and, in either such case, unless the Cap Provider has paid in full all of its Obligations (as defined in the related Cap Credit Support Annex) that are then due, then any collateral posted by the Cap Provider in accordance with the related Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the related Cap Contract) in accordance with the related Cap Credit Support Annex. Any excess amounts held in the such Cap Collateral Account after payment of all amounts owing to Party B under the related Cap Contract shall be withdrawn from the Cap Collateral Account and paid to the Cap Provider in accordance with the related Cap Credit Support Annex.