Common use of Carryover Reserve Fund Clause in Contracts

Carryover Reserve Fund. (a) The Servicer shall establish and maintain with the Administrator a separate trust account (the “Carryover Reserve Fund”) titled “HSBC Bank USA, National Association, as Administrator, on behalf of U.S. Bank National Association, as Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 2006-4, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2006-4”. On the Closing Date, the Depositor will cause the sum of $1,000 to be deposited into the Carryover Reserve Fund. In the event that a successor Administrator is appointed as provided in Section 8.19, a new Carryover Reserve Fund shall be promptly established at and maintained by such successor Administrator, and the title of the new Carryover Reserve Fund shall be “[Successor Administrator], as Administrator, on behalf of the Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 2006-4, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2006-4”, and any amounts in the old Carryover Reserve Fund shall be transferred to the new Carryover Reserve Fund. The Carryover Reserve Fund shall be an Eligible Account.

Carryover Reserve Fund. (a) The Servicer shall establish and maintain with the Administrator a separate trust account (the “Carryover Reserve Fund”) titled “HSBC Bank USA, National Association, as Administrator, on behalf of U.S. Bank National Association, as Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 2006-43, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2006-43”. On the Closing Date, the Depositor will cause the sum of $1,000 to be deposited into the Carryover Reserve Fund. In the event that a successor Administrator is appointed as provided in Section 8.19, a new Carryover Reserve Fund shall be promptly established at and maintained by such successor Administrator, and the title of the new Carryover Reserve Fund shall be “[Successor Administrator], as Administrator, on behalf of the Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 2006-43, Closed-End Home Equity Loan Asset-Backed Certificates, Series 2006-43”, and any amounts in the old Carryover Reserve Fund shall be transferred to the new Carryover Reserve Fund. The Carryover Reserve Fund shall be an Eligible Account.

Carryover Reserve Fund. (a) The Servicer shall establish and maintain with the Administrator a separate trust account (the “Carryover Reserve Fund”) titled “HSBC Bank USA, National Association, as Administrator, on behalf of U.S. Bank National Association, as Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-43, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-43”. On the Closing Date, the Depositor will cause the sum of $1,000 to be deposited into the Carryover Reserve Fund. In the event that a successor Administrator is appointed as provided in Section 8.19, a new Carryover Reserve Fund shall be promptly established at and maintained by such successor Administrator, and the title of the new Carryover Reserve Fund shall be “[Successor Administrator], as Administrator, on behalf of the Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-43, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-43”, and any amounts in the old Carryover Reserve Fund shall be transferred to the new Carryover Reserve Fund. The Carryover Reserve Fund shall be an Eligible Account.

Carryover Reserve Fund. (a) The Servicer shall establish and maintain with the Administrator a separate trust account (the “Carryover Reserve Fund”) titled “HSBC Bank USA, National Association, as Administrator, on behalf of U.S. Bank National Association, as Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-42, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-42”. On the Closing Date, the Depositor will cause the sum of $1,000 to be deposited into the Carryover Reserve Fund. In the event that a successor Administrator is appointed as provided in Section 8.19, a new Carryover Reserve Fund shall be promptly established at and maintained by such successor Administrator, and the title of the new Carryover Reserve Fund shall be “[Successor Administrator], as Administrator, on behalf of the Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-42, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-42”, and any amounts in the old Carryover Reserve Fund shall be transferred to the new Carryover Reserve Fund. The Carryover Reserve Fund shall be an Eligible Account.

Carryover Reserve Fund. (a) The Servicer shall establish and maintain with the Administrator a separate trust account (the “Carryover Reserve Fund”) titled “HSBC Bank USA, National Association, as Administrator, on behalf of U.S. Bank National Association, as Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-41, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-41”. On the Closing Date, the Depositor will cause the sum of $1,000 to be deposited into the Carryover Reserve Fund. In the event that a successor Administrator is appointed as provided in Section 8.19, a new Carryover Reserve Fund shall be promptly established at and maintained by such successor Administrator, and the title of the new Carryover Reserve Fund shall be “[Successor Administrator], as Administrator, on behalf of the Trustee, in trust for the registered holders of HSBC Home Equity Loan Trust (USA) 20062007-41, Closed-End Home Equity Loan Asset-Backed Certificates, Series 20062007-41”, and any amounts in the old Carryover Reserve Fund shall be transferred to the new Carryover Reserve Fund. The Carryover Reserve Fund shall be an Eligible Account.