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 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 Class A Certificates and Mezzanine Certificates. The Cap Collateral Account shall be an Eligible Account and shall be entitled “Cap Collateral Account, Wxxxx Fargo Bank, National Association for the benefit of holders of ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE2, 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 Counterparty to secure the obligations of the Cap Counterparty in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Counterparty shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with the related Cap Contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in any Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Counterparty in accordance with the related Cap Credit Support Annex shall be invested at the direction of the Cap Counterparty in Permitted Investments in accordance with the requirements of the Cap Credit Support Annex. All amounts earned on amounts on deposit in a Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Counterparty. 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 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 Counterparty, and, in either such case, unless the Cap 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 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 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 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 custodian as defined under the Cap Credit Support Annex (the “Cap Custodian”). On or 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 Class A Certificates and Mezzanine Certificates. The Cap Collateral Account shall be an Eligible Account and shall be entitled “Cap Collateral Account, Wxxxx Xxxxx Fargo Bank, National Association for the benefit of holders of ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE2SL2, 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-9A 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 Counterparty to secure the obligations of the Cap Counterparty in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Counterparty shall not have any legal, equitable or beneficial interest in the Cap Collateral Account other than in accordance with the related Cap Contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in any Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Counterparty in accordance with the related Cap Credit Support Annex shall be invested at the direction of the Cap Counterparty in Permitted Investments in accordance with the requirements of the Cap Credit Support Annex. All amounts earned on amounts on deposit in a Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Counterparty. 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 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 Counterparty, and, in either such case, unless the Cap 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 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 such Cap Collateral Account after payment of all amounts owing to Party B under To the related Cap Contract shall be withdrawn from extent the Cap Collateral Account and paid Custodian is required to return any of the posted collateral to the Cap Counterparty under the terms of the Cap Credit Support Annex, the Cap Custodian shall return such collateral in accordance with the related terms of 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 Annexes (the “Cap Custodian”). On or before shortly after 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 Class A Certificates and Mezzanine Holders of Certificates. The Cap Collateral Account shall must be an Eligible Account and shall be entitled “Nomura Home Equity Loan, Inc., Asset-Backed Certificates, Series 2007-1, Cap Collateral Account, Wxxxx Fargo BankHSBC Bank USA, National Association Association, as Cap Custodian for the benefit of holders of ACE Securities Corp. Home Equity Loan TrustAsset-Backed Certificates, Series 2007-HE2, 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-91.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Counterparty Provider to secure the obligations of the Cap Counterparty Provider in accordance with the terms of the related Cap ContractContracts. Except for investment earnings, the Cap Counterparty Provider 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 Contracts and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in any the Cap Collateral Account in accordance with the each Cap Credit Support Annex. Cash collateral posted by the Cap Counterparty Provider in accordance with the related a Cap Credit Support Annex Annexes shall be invested at the direction of the Cap Counterparty 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 a the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Counterparty. If no investment direction is provided, funds will be held uninvestedProvider. 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 Counterparty 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 CounterpartyProvider, and, in either such case, unless the Cap Counterparty 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 Counterparty 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 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 Counterparty Provider 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 before shortly after 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 Certificates and Mezzanine A-4 Certificates. The Cap Collateral Account shall must be an Eligible Account and shall be entitled “Nomura Asset Acceptance Corporation, Asset-Backed Certificates, Series 2007-2, Cap Collateral Account, Wxxxx Fargo BankHSBC Bank USA, National Association Association, as Cap Custodian for the benefit of holders of ACE Securities Corp. Home Equity Loan TrustAsset-Backed Certificates, Series 2007-HE2, 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-92.” The Cap Custodian shall credit to the Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Cap Counterparty Provider to secure the obligations of the Cap Counterparty Provider in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Counterparty Provider 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 any the Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Counterparty Provider in accordance with the related Cap Credit Support Annex Annexes shall be invested at the direction of the Cap Counterparty 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 a the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Counterparty. If no investment direction is provided, funds will be held uninvestedProvider. 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 Counterparty 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 CounterpartyProvider, and, in either such case, unless the Cap Counterparty 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 Counterparty 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 such the 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 Counterparty Provider 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 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 Class A A-4 Certificates and Mezzanine Certificateson the Closing Date. The Cap Swap Collateral Account shall be an Eligible Account and shall be entitled “Cap Posted Collateral Account, Wxxxx Xxxxx Fargo Bank, National Association for the benefit of holders of ACE Securities Corp. Nomura Home Equity Loan TrustLoan, Inc., Asset-Backed Certificates, Series 20072006-HE2AF1, 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.” 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 Counterparty Provider to secure the obligations of the Cap Counterparty Provider in accordance with the terms of the related Cap Contract. Except for investment earnings, the Cap Counterparty Provider 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 contract and applicable law. The Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in any the Cap Collateral Account in accordance with the Cap Credit Support Annex. Cash collateral posted by the Cap Counterparty Swap Provider in accordance with the related Cap Credit Support Annex shall be invested at the direction of the Cap Counterparty 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 AnnexXxxxx Fargo Advantage Prime Investment Money Market Fund. All amounts earned on amounts on deposit in a the Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Cap Counterparty. If no investment direction is provided, funds will be held uninvestedProvider. Upon the occurrence of an Event of Default Default, a Termination Event, or a Specified Condition an Additional Termination Event (each as defined in the related Cap Contract) with respect to ), amounts in the Cap 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 Counterparty, and, in either such case, unless the Cap 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 Collateral Account shall be withdrawn by the Cap Counterparty in accordance with the related 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 related Cap Contract) in accordance with the related Cap Credit Support Annex. Any excess amounts held in 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 Counterparty Provider in accordance with the related Cap Credit Support Annex.