Common use of Cap Contract Reserve Fund Clause in Contracts

Cap Contract Reserve Fund. (a) On the Closing Date, the Securities Administrator shall establish and maintain in its name, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and shall deposit $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract for the Accrual Period. The Securities Administrator shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.11. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator in the Welxx Xxrgo Advantage Prime Investment Money Market Fund. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.11. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.11. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap Contract. On each Distribution Date, such amounts received in respect of the Cap Contract will be distributed to the Certificates to the extent necessary and to the extent not previously distributed in the following order of priority: (1) concurrently, to the Class A-2 Certificates and Class A-3-2 Certificates, an amount up to the remaining Allocated Realized Loss Amount for each such Class, on a pro rata basis, based on the aggregate remaining Allocated Realized Loss Amounts for such Certificates; (2) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class A-1, Class A-2 and Class A-3-2 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Class; (4) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), for each such Class; (5) concurrently, on a pro rata basis, to the Class A-1, Class A-2 and Class A-3-2 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (6) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (7) to the Class A-1, Class A-2, Class A-3-2 and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Loans, to be included in the Principal Distribution Amount for that distribution date and payable as provided under Section 4.01 (b); and (8) to the Underwriter; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the Underwriter.

Cap Contract Reserve Fund. (a) On the Closing Date, the Securities Administrator Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and shall deposit $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator Trustee shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract for the related Accrual Period. The Securities Administrator Trustee shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.11. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator Trustee at the written direction of the Depositor in the Welxx Xxrgo Advantage Prime Investment Money Market FundEligible Investments. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.11. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator Trustee shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.11. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator Trustee will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap ContractContract for the related Accrual Period. On each Distribution Date, such amounts received in respect of the Cap Contract will be distributed to the LIBOR Certificates to the extent necessary and to the extent not previously distributed in the following order of priority: (A) Prior to the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to the Class A-2 Certificates I-A-3, Class III-A-1-2, Class III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class I-A-3 Certificates and the Class III-A Certificates: (a) to the Class I-A-3 Certificates, an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A-3 Certificates; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class III-A Certificates, sequentially, to the Class III-A-2 Certificates and then to the Class III-A-3-1 Certificates and Class III-A-3-2 Certificates, on a pro rata basis, in an amount up to the remaining Allocated Realized Loss Amount for each such Class, on a pro rata basis, based on the aggregate remaining Allocated Realized Loss Amounts for such Certificates; (2) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class A-1I-A-3, Class A-2 III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Classclass; (4) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), Amount for each such Class; (5) concurrently, on a pro rata basis, to the Class A-1I-A-3, Class A-2 III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (6) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (7) to the Class A-1I-A-3, Class III-A-2, Class III-A-3-1 and Class III-A-3-2 and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that distribution date Distribution Date and payable as provided under Section 4.01 (b4.01(b); and (8) to the UnderwriterClass C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the UnderwriterHolders of the Class C Certificates; and (B) Upon and after the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to Class I-A-3 Certificates and the Class III-A Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class I-A-3 Certificates and the Class III-A Certificates: (a) to the Class I-A-3 Certificates, an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A-3 Certificates, until reduced to zero; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class III-A Certificates, sequentially, to the Class III-A-2 Certificates, and then to the Class III-A-3-1 and Class III-A-3-2 Certificates, on a pro rata basis, in an amount up to the remaining Allocated Realized Loss Amount for each such class, until reduced to zero; (2) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such class; (3) concurrently, to the Class I-A-3 Certificates and the Class III-A Certificates, pro rata, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such class; (4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount for each such class; (5) concurrently, on a pro rata basis, to the Class I-A-3 Certificates and the Class III-A Certificates, the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (6) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (7) to the Class I-A-3, Class III-A and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); and (8) to the Class C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the Holders of the Class C Certificates. (e) In no event shall any proceeds from the Cap Contract be distributed to the Class II-A-3-2 Certificates.

Cap Contract Reserve Fund. (a) On the Closing Date, there is hereby established a cap supplemental interest trust (the “Cap Supplemental Interest Trust”). On the Closing Date, the Securities Administrator Administrator, on behalf of the Cap Supplemental Interest Trust Trustee, shall establish and maintain in its namethe name of the Cap Supplemental Interest Trust Trustee, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and UBS Securities LLC shall deposit or cause to be deposited $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator Cap Supplemental Interest Trust Trustee shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract Agreement for the Accrual Period. The Securities Administrator shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.114.15. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator in the Welxx Xxrgo Xxxxx Fargo Advantage Prime Investment Money Market Fund. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.114.15. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.114.15. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator Cap Supplemental Interest Trust Trustee will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap ContractAgreement. On each Distribution Date, such amounts received in respect of the Cap Contract Agreement will be distributed to the Certificates to the extent necessary and to the extent not previously distributed as provided under Sections 4.01 and 4.13(c) in the following order of priority: (1) concurrentlyto the Class A-3 Certificates, to the Class A-2 Certificates and Class A-3-2 Certificates, an amount up extent needed to the pay any remaining Allocated Realized Loss Amount Net Rate Carryover for each such Class, on a pro rata basis, based on the aggregate remaining Allocated Realized Loss Amounts for such Certificates; (2) sequentially, to each Class of Class A Certificates (other than the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 A-3 Certificates, in that order, an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class A-1, Class A-2 and Class A-3-2 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Class; (4) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), for each such Class; (5) concurrently, on a pro rata basis, to the Class A-1, Class A-2 and Class A-3-2 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (6) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (7) to the Class A-1, Class A-2, Class A-3-2 and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amountpro rata based on the unpaid Net Rate Carryover thereof, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Loans, needed to be included in the Principal Distribution Amount pay any remaining Net Rate Carryover for that distribution date and payable as provided under Section 4.01 (b)each such Class; and (8) 3) any remaining amounts to the Underwriter; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the UnderwriterClass C Certificates.

Cap Contract Reserve Fund. (a) On the Closing Date, the Securities Administrator Administrator, as Cap Supplemental Interest Trust Trustee, shall establish the Cap Supplemental Interest Trust and shall also establish and maintain in its name, as Cap Supplemental Interest Trust Trustee, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and shall deposit $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator Cap Supplemental Interest Trust Trustee shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract Agreement for the Accrual Period. The Securities Administrator shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.11. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator in the Welxx Xxrgo Xxxxx Fargo Advantage Prime Investment Money Market Fund. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.11. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.11. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator Cap Supplemental Interest Trust Trustee will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap ContractAgreement. On each Distribution Date, such amounts received in respect of the Cap Contract Agreement will be distributed to the Certificates to the extent necessary and to the extent not previously distributed as provided under Section 4.01 in the following order of priority: (1) concurrently, to the Class A-2 Certificates and Class A-3-2 Certificates, an amount up to the remaining Allocated Realized Loss Amount for each such Class, on a pro rata basis, based on the aggregate remaining Allocated Realized Loss Amounts for such Certificates; (2) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class A-1, Class A-2 and Class A-3-2 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Class; (4) sequentially, to the Class M-1, Xxxxx X-0, Xlass M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), for each such Class; (5) concurrently, on a pro rata basis, to the Class A-1, Class A-2 and Class A-3-2 A-3 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (62) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (73) sequentially, to the Class A-2 Certificates and Class A-3 Certificates, in that order, an amount up to the remaining Allocated Realized Loss Amount for each such Class; (4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (5) to the Class A-1, Class A-2, Class A-3-2 A Certificates and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Loans, to be included in the Principal Distribution Amount for that distribution date Distribution Date and payable as provided under Section 4.01 (b); (6) concurrently, to the Class A-1, Class A-2 and Class A-3 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Class; (7) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), for each such Class; and (8) to the UnderwriterHolder of the Class C Certificate; provided however, that any such amount that is attributable to the Cap Contract Agreement shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Agreement Scheduled Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract Agreement will be distributed to the UnderwriterHolder of the Class C Certificate.

Cap Contract Reserve Fund. (a) On the Closing Date, the Securities Administrator Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and shall deposit $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator Trustee shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract for the related Accrual Period. The Securities Administrator Trustee shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.11. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator Trustee at the written direction of the Depositor in the Welxx Xxrgo Advantage Prime Investment Money Market FundEligible Investments. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.11. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator Trustee shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.11. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator Trustee will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap ContractContract for the related Accrual Period. On each Distribution Date, such amounts received in respect of the Cap Contract will be distributed to the Offered Certificates to the extent necessary and to the extent not previously distributed in the following order of priority: (A) Prior to the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to Class I-A-2-1, Class I-A-2-2, Class I-A-3, Class II-A-2 and Class II-A-3 Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class A-2 I-A Certificates and the Class A-3II-A Certificates: (a) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A Certificates, sequentially, to the Class I-A-2-1 Certificates and the Class I-A-1-2 Certificates, on a pro rata basis, and then to the Class I-A-3 Certificates in an amount up to the remaining Allocated Realized Loss Amount for each such Class, on a pro rata basis, based on until reduced to zero; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amounts Amount for the Class II-A Certificates, sequentially, to the Class II-A-2 Certificates and then to the Class II-A-3 Certificates in an amount up to the remaining Allocated Realized Loss Amount for each such CertificatesClass; (2) sequentially, to the Class M-1M-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class I-A-2-2 Underlying Interest, the Class I-A-1-1, Class I-A-1-2, Class I-A-2-1, Class I-A-3, Class II-A-1, Class II-A-2 and Class A-3II-2 A-3 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Carry Forward Amount prior to the application of Section 4.01(b) 4.01 (b)(viii), in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Classclass; (4) sequentially, to the Class M-1M-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), Amount for each such Class; (5) concurrently, on a pro rata basis, to the Class I-A-2-2 Underlying Interest, the Class I-A-1-2, Class I-A-2-1, Class I-A-3, Class II-A-1, Class II-A-2 and Class A-3II-2 A-3 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group II Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (6) sequentially, to the Class M-1M-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group II Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (7) to the Class I-A-2-2 Underlying Interest, Class I-A-1-1, Class I-A-1-2, Class I-A-2-1, Class I-A-3, Class II-A-1, Class A-2, Class A-3II-2 A-2 and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Group I Loans and the Group II Loans, to be included in the Principal Distribution Amount for that distribution date Distribution Date and payable as provided under Section 4.01 (b4.01(b); and (8) to the UnderwriterClass C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the UnderwriterHolders of the Class C Certificates; and (B) Upon and after the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to Class I-A-2-1, Class I-A-2-2, Class I-A-3, Class II-A-2 and Class II-A-3 Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class I-A Certificates and the Class II-A Certificates: (a) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A Certificates, sequentially, to the Class I-A-2-1 Certificates and Class I-A-2-2, on a pro rata basis,and then to the Class I-A-3 Certificates in an amount up to the remaining Allocated Realized Loss Amount for each such Class, until reduced to zero; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class II-A Certificates, sequentially, to the Class II-A-2 Certificates, and then to the Class II-A-3 Certificates, in an amount up to the remaining Allocated Realized Loss Amount for each such class, until reduced to zero; (2) sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such class; (3) concurrently, to the Class I-A-1-1, Class I-A-1-2, Class I-A-2-1, Class I-A-2-2, Class I-A-3, Class II-A-2 Certificates and Class II-A-3 Certificates, pro rata, based on the related Net Rate Shortfall Carry Forward Amount prior to application of Section 4.01 (b)(viii), in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such class; (4) sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount for each such class; (5) concurrently, on a pro rata basis, to the Class I-A-1-1, Class I-A-1-2, Class I-A-2-1, Class I-A-2-2, Class I-A-3, Class II-A-1, Class II-A-2 and Class II-A-3 Certificates, the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (6) sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (7) to the Class I-A, Class II-A and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Group I Loans and the Group II Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); and (8) to the Class C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the Holders of the Class C Certificates.

Cap Contract Reserve Fund. (a) On the Closing Date, the Securities Administrator Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Offered Certificates, the Cap Contract Reserve Fund, and shall deposit $1,000 therein upon receipt from or on behalf of the Depositor of such amount. All funds on deposit in the Cap Contract Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator pursuant to this Agreement. (b) On each Distribution Date, the Securities Administrator Trustee shall deposit into the Cap Contract Reserve Fund all amounts received in respect of the Cap Contract for the related Accrual Period. The Securities Administrator Trustee shall make withdrawals from the Cap Contract Reserve Fund to make distributions pursuant to this Section 4.11. (c) Funds in the Cap Contract Reserve Fund will be invested by the Securities Administrator Trustee at the written direction of the Depositor in the Welxx Xxrgo Advantage Prime Investment Money Market FundEligible Investments. All such investments shall be made in the name of the Trustee, for the benefit of the Holders of the Offered Certificates. Any net investment earnings on such amounts shall be retained therein until withdrawn as provided in this Section 4.11. Any losses incurred in the Cap Contract Reserve Fund in respect of any such investments shall be charged against amounts on deposit in the Cap Contract Reserve Fund (or such investments) immediately as realized. The Securities Administrator Trustee shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Cap Contract Reserve Fund and made in accordance with this Section 4.11. For federal income tax purposes, the Class C Certificates shall be the owner of the Cap Contract Reserve Fund. The Cap Contract Reserve Fund will not constitute an asset of any REMIC created hereunder. (d) On each Distribution Date, the Securities Administrator Trustee will deposit in the Cap Contract Reserve Fund any amounts received in respect of the Cap ContractContract for the related Accrual Period. For federal income tax purposes, any amounts paid from the Cap Contract Reserve Fund to the Class III-A-1-1 Certificates shall be paid to the Class III-A-1-1 Underlying Interest. On each Distribution Date, such amounts received in respect of the Cap Contract will be distributed to the LIBOR Certificates to the extent necessary and to the extent not previously distributed in the following order of priority: (A) Prior to the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to the Class A-2 Certificates III-A-1-1 Underlying Interest, Class I-A-3, Class III-A-1-2, Class III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class I-A-3 Certificates and the Class III-A Certificates: (a) to the Class I-A-3 Certificates, an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A-3 Certificates; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class III-A Certificates, sequentially, to the Class III-A-2 Certificates and then to the Class III-A-3-1 Certificates and Class III-A-3-2 Certificates, on a pro rata basis, in an amount up to the remaining Allocated Realized Loss Amount for each such Class, on a pro rata basis, based on the aggregate remaining Allocated Realized Loss Amounts for such Certificates; (2) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such Class; (3) concurrently, to the Class A-1I-A-3, Class A-2 III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, pro rata, based on the related Net Rate Shortfall Carry-Forward Amount prior to application of Section 4.01(b) in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such Classclass; (4) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount, prior to application of Section 4.01 (b), Amount for each such Class; (5) concurrently, on a pro rata basis, to the Class III-A-1-1 Underlying Interest, Class A-2 I-A-3, Class III-A-2, Class III-A-3-1 and Class III-A-3-2 Certificates, the Accrued Certificate Interest for each such Class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (6) sequentially, to the Class M-1X-0, Xxxxx X-0, Xlass Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such Class class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate, but solely to the extent the payment of such Accrued Certificate Interest is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); (7) to the Class III-A-1-1 Underlying Interest, Class I-A-3, Class III-A-2, Class III-A-3-1 and Class III-A-3-2 and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Mortgage Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that distribution date Distribution Date and payable as provided under Section 4.01 (b4.01(b); and (8) to the UnderwriterClass C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the UnderwriterHolders of the Class C Certificates; and (B) Upon and after the occurrence of a Swap Counterparty Termination Event: (1) concurrently, to Class I-A-3 Certificates and the Class III-A Certificates, based on the aggregate remaining Allocated Realized Loss Amounts for the Class I-A-3 Certificates and the Class III-A Certificates: (a) to the Class I-A-3 Certificates, an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class I-A-3 Certificates, until reduced to zero; and (b) in an amount up to the aggregate remaining Allocated Realized Loss Amount for the Class III-A Certificates, sequentially, to the Class III-A-2 Certificates, and then to the Class III-A-3-1 and Class III-A-3-2 Certificates, on a pro rata basis, in an amount up to the remaining Allocated Realized Loss Amount for each such class, until reduced to zero; (2) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the amount of any remaining Allocated Realized Loss Amount for each such class; (3) concurrently, to the Class I-A-3 Certificates and the Class III-A Certificates, pro rata, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amounts for each such class; (4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the amount of any remaining Net Rate Shortfall Carry-Forward Amount for each such class; (5) concurrently, on a pro rata basis, to the Class I-A-3 Certificates and the Class III-A Certificates, the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (6) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the Accrued Certificate Interest for each such class and such Distribution Date plus any Accrued Certificate Interest remaining unpaid from any prior Distribution Dates with interest thereon at the related Pass-Through Rate; (7) to the Class I-A-3, Class III-A and Class M Certificates, an amount equal to any Cap Extra Principal Distribution Amount, but solely to the extent the payment of the Cap Extra Principal Distribution Amount is as a result of Realized Losses incurred on the Group I Loans and the Group III Loans, to be included in the Principal Distribution Amount for that Distribution Date and payable as provided under Section 4.01(b); and (8) to the Class C Certificates; provided however, that any such amount that is attributable to the Cap Contract shall instead be held in the Cap Contract Reserve Fund to be used on future Distribution Dates until the Distribution Date immediately following the earlier of (i) the Cap Contract Termination Date and (ii) the date on which the aggregate Certificate Principal Balance of the Offered Certificates has been reduced to zero, at which time any amounts remaining on deposit in the Cap Contract Reserve Fund with respect to the Cap Contract will be distributed to the Holders of the Class C Certificates. (e) In no event shall any proceeds from the Cap Contract be distributed to the Class II-A-3-2 Certificates.