Common use of Certificate Swap Account Clause in Contracts

Certificate Swap Account. No later than the Closing Date, the Securities Administrator shall establish and maintain with itself, as agent for the Trustee, on behalf of the Supplemental Interest Trust, a separate, segregated trust account (the “Certificate Swap Account”) titled, “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the registered holders of Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-AR2, Mortgage Pass-Through Certificates—Certificate Swap Account”. Such account shall be an Eligible Account and amounts therein shall be held uninvested. For federal and state income tax purposes, the Class CE Certificateholders shall be deemed to be the owners of the Certificate Swap Account. The Certificate Swap Account shall be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Subordinate Certificates, all amounts remaining on deposit in the Certificate Swap Account shall be released by the Trust and distributed to the Class CE Certificateholders. The Certificate Swap Account shall be part of the Supplemental Interest Trust but not part of any REMIC. Upon receipt of any amounts paid under the Certificate Interest Rate Swap Agreement, and following any distributions of Net Monthly Excess Cashflow pursuant to Section 4.1(a)(iii) above, withdrawals from the Reserve Fund pursuant to Section 4.1(a)(iv) above, the Securities Administrator shall deposit such amounts into the Certificate Swap Account for distribution pursuant to Section 4.1(a)(vi) above. In the event that the Certificate Interest Rate Swap Agreement is terminated prior to the Termination Date (as defined in the Certificate Interest Rate Swap Agreement), the Securities Administrator on behalf of the Supplemental Interest Trust, at the direction of the Depositor, shall use reasonable efforts to appoint a successor swap provider using any Swap Termination Payments paid by the Certificate Swap Provider. To the extent the Supplemental Interest Trust is required to pay a Swap Termination Payment to the Certificate Swap Provider, all or a portion of such amount received from a replacement swap provider upon entering into a replacement interest rate swap agreement or similar agreement will be applied to the Swap Termination Payment owing to the Certificate Swap Provider, and any remaining portion will be distributed to Certificateholders according to the order of priorities of Section 4.1(a)(vi) above. If the Securities Administrator on behalf of the Supplemental Interest Trust is unable to locate a qualified successor swap provider, any such Swap Termination Payments will be deposited in the Certificate Swap Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Certificate Interest Rate Swap Agreement or the appointment of a successor swap provider), will withdraw the amount of any Net Swap Payment due to the Supplemental Interest Trust (calculated in accordance with the terms of the Certificate Interest Rate Swap Agreement) and distribute such Net Swap Payment to the holders of the Certificates in accordance with Section 4.1.

Certificate Swap Account. No later than the Closing Date, the Securities Administrator shall establish and maintain with itself, as agent for the Trustee, on behalf of the Supplemental Supplement Interest Trust, a separate, segregated trust account (the “Certificate Swap Account”) titled, “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the registered holders of Deutsche Alt-A Securities Mortgage Loan Trust, Series 20072006-AR2AR4, Mortgage Pass-Through Certificates—Certificate Swap Account”. Such account shall be an Eligible Account and amounts therein shall be held uninvested. For federal and state income tax purposes, the Class CE Certificateholders shall be deemed to be the owners of the Certificate Swap Account. The Certificate Swap Account shall be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Subordinate Certificates, all amounts remaining on deposit in the Certificate Swap Account shall be released by the Trust and distributed to the Class CE Certificateholders. The Certificate Swap Account shall be part of the Supplemental Interest Trust but not part of any REMIC. Upon receipt of any amounts paid under the Certificate Interest Rate Swap Agreement, and following any distributions of Net Monthly Excess Cashflow pursuant to Section 4.1(a)(iii) above, withdrawals from the Reserve Fund pursuant to Section 4.1(a)(iv) above and withdrawals from the Cap Account pursuant to Section 4.1(a)(vi) above, the Securities Administrator shall deposit such amounts into the Certificate Swap Account for distribution pursuant to Section 4.1(a)(vi4.1(a)(vii) above. In the event that the Certificate Interest Rate Swap Agreement is terminated prior to the Termination Date (as defined in the Certificate Interest Rate Swap Agreement), the Securities Administrator Trustee on behalf of the Supplemental Interest Trust, at the direction of the Depositor, shall use reasonable efforts to appoint a successor swap provider using any Swap Termination Payments paid by the Certificate Swap Provider. To the extent the Supplemental Interest Trust is required to pay a Swap Termination Payment to the Certificate Swap Provider, all or a portion of such amount received from a replacement swap provider upon entering into a replacement interest rate swap agreement or similar agreement will be applied to the Swap Termination Payment owing to the Certificate Swap Provider, and any remaining portion will be distributed to Certificateholders according to the order of priorities of Section 4.1(a)(vi4.1(a)(vii) above. If the Securities Administrator Trustee on behalf of the Supplemental Interest Trust is unable to locate a qualified successor swap provider, any such Swap Termination Payments will be deposited in the Certificate Swap Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Certificate Interest Rate Swap Agreement or the appointment of a successor swap provider), will withdraw the amount of any Net Swap Payment due to the Supplemental Interest Trust (calculated in accordance with the terms of the Certificate Interest Rate Swap Agreement) and distribute such Net Swap Payment to the holders of the Certificates in accordance with Section 4.1.

Certificate Swap Account. No later than the Closing Date, the Securities Administrator shall establish and maintain with itself, as agent for the Trustee, on behalf of the Supplemental Supplement Interest Trust, a separate, segregated trust account (the “Certificate Swap Account”) titled, “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the registered holders of Deutsche Alt-A Securities Securities, Inc. Mortgage Loan Trust, Series 20072006-AR2AR3, Mortgage Pass-Through Certificates—Certificate Swap Account”. Such account shall be an Eligible Account and amounts therein shall be held uninvested. For federal and state income tax purposes, the Class CE Certificateholders shall be deemed to be the owners of the Certificate Swap Account. The Certificate Swap Account shall be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Subordinate Certificates, all amounts remaining on deposit in the Certificate Swap Account shall be released by the Trust and distributed to the Class CE Certificateholders. The Certificate Swap Account shall be part of the Supplemental Interest Trust but not part of any REMICREMIC and any payments to the holders of the Class A Certificates and the Subordinate Certificates from the Certificate Swap Account shall not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1). Upon receipt of any amounts paid under the Certificate Interest Rate Swap Agreement, and following any distributions of Net Monthly Excess Cashflow pursuant to Section 4.1(a)(iii) above, withdrawals from the Reserve Fund pursuant to Section 4.1(a)(iv) above, the Securities Administrator shall deposit such amounts into the Certificate Swap Account for distribution pursuant to Section 4.1(a)(vi) above. In the event that the Certificate Interest Rate Swap Agreement is terminated prior to the Termination Date (as defined in the Certificate Interest Rate Swap Agreement), the Securities Administrator Trustee on behalf of the Supplemental Interest Trust, at the direction of the Depositor, shall use reasonable efforts to appoint a successor swap provider using any Swap Termination Payments paid by the Certificate Swap Provider. To the extent the Supplemental Interest Trust is required to pay a Swap Termination Payment to the Certificate Swap Provider, all or a portion of such amount received from a replacement swap provider upon entering into a replacement interest rate swap agreement or similar agreement will be applied to the Swap Termination Payment owing to the Certificate Swap Provider, and any remaining portion will be distributed to Certificateholders according to the order of priorities of Section 4.1(a)(vi) above. If the Securities Administrator Trustee on behalf of the Supplemental Interest Trust is unable to locate a qualified successor swap provider, any such Swap Termination Payments will be deposited in the Certificate Swap Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Certificate Interest Rate Swap Agreement or the appointment of a successor swap provider), will withdraw the amount of any Net Swap Payment due to the Supplemental Interest Trust (calculated in accordance with the terms of the Certificate Interest Rate Swap Agreement) and distribute such Net Swap Payment to the holders of the Certificates in accordance with Section 4.1.

Certificate Swap Account. No later than the Closing Date, the Securities Administrator shall establish and maintain with itself, as agent for the Trustee, on behalf of the Supplemental Interest Trust, a separate, segregated trust account (the “Certificate Swap Account”) titled, “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the registered holders of Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-AR2OA4, Mortgage Pass-Through Certificates—Certificate Swap Account”. Such account shall be an Eligible Account and amounts therein shall be held uninvested. For federal and state income tax purposes, the Class CE CE-1 Certificateholders shall be deemed to be the owners of the Certificate Swap Account. The Certificate Swap Account shall be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Subordinate Certificates, all amounts remaining on deposit in the Certificate Swap Account shall be released by the Trust and distributed to the Class CE CE-1 Certificateholders. The Certificate Swap Account shall be part of the Supplemental Interest Trust but not part of any REMIC. Upon receipt of any amounts paid under the a Certificate Interest Rate Swap Agreement, and following any distributions of Net Monthly Excess Cashflow pursuant to Section 4.1(a)(iii) above, withdrawals from the Reserve Fund pursuant to Section 4.1(a)(iv) above and withdrawals from the Floor Account pursuant to Section 4.1(a)(vi) above, the Securities Administrator shall deposit such amounts into the Certificate Swap Account for distribution pursuant to Section 4.1(a)(vi4.1(a)(viii) above. In the event that the Certificate Interest Rate Swap Agreement is terminated prior to the Termination Date (as defined in the applicable Certificate Interest Rate Swap Agreement), the Securities Administrator on behalf of the Supplemental Interest Trust, at the direction of the Depositor, shall use reasonable efforts to appoint a successor swap provider Certificate Swap Provider using any Swap Termination Payments paid by the Certificate Swap Provider. To the extent the Supplemental Interest Trust is required to pay a Swap Termination Payment to the Certificate Swap Provider, all or a portion of such amount received from a replacement swap provider Certificate Swap Provider upon entering into a replacement interest rate swap agreement Certificate Swap Agreement or similar agreement will be applied to the Swap Termination Payment owing to the Certificate Swap Provider, and any remaining portion will be distributed to Certificateholders according to the order of priorities of Section 4.1(a)(vi4.1(a)(viii) above. If the Securities Administrator on behalf of the Supplemental Interest Trust is unable to locate a qualified successor swap providerCertificate Swap Provider, any such Swap Termination Payments will be deposited in the Certificate Swap Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Certificate Interest Rate Swap Agreement or the appointment of a successor swap providerCertificate Swap Provider), will withdraw the amount of any Net Swap Payment due to the Supplemental Interest Trust (calculated in accordance with the terms of the applicable Certificate Interest Rate Swap Agreement) and distribute such Net Swap Payment to the holders of the Certificates in accordance with Section 4.1.