Common use of Class XP Reserve Account Clause in Contracts

Class XP Reserve Account. (a) The Paying Agent shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2006-AR1, Mortgage Pass-Through Certificates, Series 2006-AR1, Class XP." Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee for the holder of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e). In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group are repurchased as described in Section 10.01(a), and (y) the Business Day prior to the Distribution Date occurring in June 2012, the Trustee shall withdraw the amount on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account and pay such amount to the related Class XP Certificates in accordance with Section 6.01(e), and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR15, Mortgage Pass-Through Certificates, Series 2006-AR15, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class I-XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class I-XP Certificates in accordance with Section 6.01(e6.01(c). In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class I-XP Certificates in accordance with Section 6.01(e), 6.01(c) and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "“Reserve Account, Xxxxx Wxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding Sxxxxxx ALT-A Trust 20062005-AR110, Mortgage Pass-Through Certificates, Series 20062005-AR110, Class XP." ”. On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01.1(c) and Section 6.01.2(e), as applicable. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June 2012December 2011, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(e6.01.1(c) and Section 6.01.2(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR13, Mortgage Pass-Through Certificates, Series 2006-AR13, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Sections 6.01(c) and Section 6.01(e6.02(e), as applicable, and with regards to the initial $100 deposit, this Section 4.07. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis based upon the initial certificate balances stated on the Class XP Certificates. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with this Section 6.01(e4.07, Sections 6.01(c) and Section 6.02(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 20062007-AR1AR3, Mortgage Pass-Through Certificates, Series 20062007-AR1AR3, Class XP." Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee for the holder of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 20062007-AR1 AR3 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e). In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group are repurchased as described in Section 10.01(a), and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee shall withdraw the amount on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account and pay such amount to the related Class XP Certificates in accordance with Section 6.01(e), and following such withdrawal the Class XP Reserve Account shall be closed.. 115

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR14, Mortgage Pass-Through Certificates, Series 2006-AR14, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(eSections 6.01(c), 6.02(i)(e) and 6.02(ii)(e), as applicable. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(eSections 6.01(c), 6.02(i)(e) and 6.02(ii)(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR13, Mortgage Pass-Through Certificates, Series 2006-AR13, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC.. 119 (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(eSections 6.01(c), 6.02(i)(e) and 6.02(ii)(e), as applicable. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(eSections 6.01(c), 6.02(i)(e) and 6.02(ii)(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR12, Mortgage Pass-Through Certificates, Series 2006-AR12, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable, and with regards to the initial $100 deposit, this Section 4.07. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis based upon the initial certificate balances stated on the Class XP Certificates. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with this Section 6.01(e4.07, Section 6.01(c) and Section 6.02(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR17, Mortgage Pass-Through Certificates, Series 2006-AR17, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e)6.01(c) and with regards to the initial $100 deposit, this Section 4.07. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis based upon the initial certificate balances stated on the Class XP Certificates. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June 2012December 2011, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with this Section 6.01(e), 4.07 and Section 6.01(c) and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Master Servicer shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "“Reserve Account, Xxxxx Wxxxx Fargo Bank, National Association, as Trustee for the benefit of Master Servicer f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding GreenPoint MTA Trust 20062005-AR1, Mortgage Pass-Through Certificates, Series 20062005-AR1, AR1 - Class XP." ”. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Master Servicer for the holder of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Master Servicer shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit remit such amount to the Securities Administrator for deposit into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01(f). In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), and (y) the Business Day prior to the Distribution Date occurring in June 2012April 2011, the Trustee Master Servicer shall withdraw the amount on deposit in the Class XP Reserve Account and deposit remit such amount to the Securities Administrator for deposit into the Distribution Account and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(e6.01(f), and following such withdrawal the Class XP Reserve Account shall be closed. (xiv) The following row, and accompanying footnote, is hereby added to the table set forth in Section 5.01(c)(ii): XP N/A (20)

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR14, Mortgage Pass-Through Certificates, Series 2006-AR14, Class XP." ". On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable, and with regards to the initial $100 deposit, this Section 4.07. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis based upon the initial certificate balances stated on the Class XP Certificates. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with this Section 6.01(e4.07, Section 6.01(c) and 6.02 (e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "“Reserve Account, Xxxxx Wxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding Sxxxxxx ALT-A Trust 2006-AR11, Mortgage Pass-Through Certificates, Series 2006-AR11, Class XP." ”. On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June January 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.

Class XP Reserve Account. (a) The Paying Agent Securities Administrator shall establish and maintain with itself a separate, segregated trust account, which shall be an Eligible Account, titled "“Reserve Account, Xxxxx Fargo Bank, National Association, as Trustee for the benefit of holders of Structured Asset Mortgage Investments II Inc., Securities Administrator f/b/o Bear Xxxxxxx Mortgage Funding ALT-A Trust 2006-AR12, Mortgage Pass-Through Certificates, Series 2006-AR12, Class XP." ”. On the Closing Date, the Depositor shall deposit $100 into the Class XP Reserve Account. Funds on deposit in the Class XP Reserve Account shall be held in trust by the Trustee Securities Administrator for the holder holders of the related Class XP Certificates. The Class XP Reserve Account will not represent an interest in any 2006-AR1 REMIC. (b) Any amount on deposit in the Class XP Reserve Account shall be held uninvested. On the Business Day prior to each Distribution Date, the Trustee Securities Administrator shall withdraw the amount then on deposit in the Class XP Reserve Account and deposit such amount into the Distribution Account to be distributed to the Holders of the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable. The initial $100 deposited in the Class XP Reserve Account shall be applied to the Class XP Certificates on a pro rata basis. In addition, on the earlier of (x) the Business Day prior to the Distribution Date on which all the assets of the related Loan Group Trust Fund are repurchased as described in Section 10.01(a), ) and (y) the Business Day prior to the Distribution Date occurring in June March 2012, the Trustee Securities Administrator shall withdraw the amount on deposit in the Class XP Reserve Account and Account, deposit such amount into the Distribution Account and remit such amount to the Securities Administrator and provide written instruction to the Securities Administrator to pay such amount to the related Class XP Certificates in accordance with Section 6.01(e6.01(c) and Section 6.02(e), as applicable, and following such withdrawal the Class XP Reserve Account shall be closed.