Common use of Cap Contract Clause in Contracts

Cap Contract. The Cap Contract will not be an asset of the Trust Fund nor of any REMIC. The Supplemental Interest Trust Trustee shall cause to be deposited any amounts received from time to time with respect to the Cap Contract into the Cap Account. The Supplemental Interest Trust Trustee shall prepare and deliver any notices required to be delivered under the Cap Contract. The Supplemental Interest Trust Trustee shall terminate the Cap Contract upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Confirmation. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Supplemental Interest Trust Trustee an amount in respect of such termination. Any amounts received by the Supplemental Interest Trust Trustee in respect of such termination shall be deposited and held in the Cap Account to pay Unpaid Realized Loss Amounts and Net Rate Carryover Amounts on the Classes of Offered Certificates as provided in Section 4.07 hereof on the Distribution Dates following such termination to and including the Cap Contract Scheduled Termination Date. On the Cap Contract Scheduled Termination Date, after all other distributions to be made on such date have been made pursuant to the terms of this Agreement, if any such amounts received by the Supplemental Interest Trust Trustee with respect thereto in respect of such termination remain in the Cap Account, such amounts shall be distributed by the Supplemental Interest Trust Trustee to UBS Securities LLC.

Cap Contract. The Cap Contract will not be an asset of the Trust Fund nor of any REMIC. The Supplemental Interest Trust Trustee shall cause to be deposited any amounts received from time to time with respect to the Cap Contract into the Cap Account. The Supplemental Interest Trust Trustee shall prepare and deliver any notices required to be delivered under the Cap Contract. The Supplemental Interest Trust Trustee shall terminate the Cap Contract upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Confirmation. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Supplemental Interest Trust Trustee an amount in respect of such termination. Any amounts received by the Supplemental Interest Trust Trustee in respect of such termination shall be deposited and held in the Cap Account to pay Unpaid Realized Loss Amounts and Net Rate Carryover Amounts on the Classes of Offered Certificates as provided in Section 4.07 hereof on the Distribution Dates following such termination to and including the Cap Contract Scheduled Termination Date. On the Cap Contract Scheduled Termination Date, after all other distributions to be made on such date have been made pursuant to the terms of this Agreement, if any such amounts received by the Supplemental Interest Trust Trustee with respect thereto in respect of such termination remain in the Cap Account, such amounts shall be distributed by the Supplemental Interest Trust Trustee to UBS Securities LLC.

Cap Contract. The Cap Contract will not be an asset of the Trust Fund nor of any REMIC. The Supplemental Interest Trust Trustee shall cause to be deposited any amounts received from time to time with respect to the Cap Contract into the Cap Account. The Supplemental Interest Trust Trustee shall prepare and deliver any notices required to be delivered under the Cap Contract. The Supplemental Interest Trust Trustee shall terminate the Cap Contract upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Confirmation. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Supplemental Interest Trust Trustee an amount in respect of such termination. Any amounts received by the Supplemental Interest Trust Trustee in respect of such termination shall be deposited and held in the Cap Account to pay Unpaid Realized Loss Amounts and Net Rate Carryover Amounts on the Classes of Offered Certificates as provided in Section 4.07 hereof on the Distribution Dates following such termination to and including the Cap Contract Scheduled Termination Date. On the Cap Contract Scheduled Termination Date, after all other distributions to be made on such date have been made pursuant to the terms of this Agreement, if any such amounts received by the Supplemental Interest Trust Trustee with respect thereto in respect of such termination remain in the Cap Account, such amounts shall be distributed by the Supplemental Interest Trust Trustee to UBS Securities LLC.

Cap Contract. The Cap Contract will not be an asset of the Trust Fund nor or of any REMIC. The Supplemental Interest Trust Trustee shall cause to be deposited any amounts received from time to time with respect to the Cap Contract into the Cap Account. The Supplemental Interest Trust Trustee shall prepare and deliver any notices required to be delivered under the Cap Contract. The Supplemental Interest Trust Trustee shall terminate the Cap Contract upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Confirmation. Upon any such termination, the Cap Contract Counterparty Provider will be obligated to pay the Supplemental Interest Trust Trustee an amount in respect of such termination. Any amounts received by the Supplemental Interest Trust Trustee in respect of such termination shall be deposited and held in the Cap Account to pay Unpaid Realized Loss Amounts and Net Rate Carryover Amounts on the amounts specified in Section 4.07(a) hereof to the Classes of Offered Certificates as provided specified in Section 4.07 4.07(a) hereof on the Distribution Dates following such termination to and including the Cap Contract Scheduled Termination Date. On the Cap Contract Scheduled Termination Date, after all other distributions to be made on such date have been made pursuant to the terms of this Agreement, if any such amounts received by the Supplemental Interest Trust Trustee with respect thereto in respect of such termination remain in the Cap Account, such amounts shall be distributed by the Supplemental Interest Trust Trustee to UBS Securities LLCthe Class C Certificates.