Common use of Collateral Account Clause in Contracts

Collateral Account. The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2, Asset-Backed Pass-Through Certificates, Series 2007-AMC2.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in form of cash or securities) posted by the Interest Rate Cap Provider to secure the obligations of the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Agreement) with respect to the Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2)

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Collateral Account. The Trust Administrator Trustee (in its capacity as Cap Supplemental Interest Trust Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Cap Swap Custodian for registered Certificateholders of Citigroup Option One Mortgage Loan Trust 2007-AMC2CP1, Asset-Backed Pass-Through Certificates, Series 2007-AMC2CP1.” The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Swap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Custodian If no investment direction is provided, such amounts shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written directionremain uninvested. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Swap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Swap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Swap Provider, and, in either such case, unless the Interest Rate Cap Swap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Swap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Swap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Swap Agreement shall be withdrawn from the Interest Rate Cap Swap Collateral Account and paid to the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)

Collateral Account. (a) The Trust Securities Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the CertificateholdersNoteholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Xxxxx Fargo Bank, N.A., as Interest Rate Cap Swap Custodian for registered Certificateholders Noteholders of Citigroup Mortgage Renaissance Home Equity Loan Trust 2007-AMC22, Home Equity Loan Asset-Backed Pass-Through CertificatesNotes, Series 2007-AMC22.” (b) The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. . (c) Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Eligible Investments in accordance with the requirements of the Interest Rate Cap Swap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral . (as defined in the Interest Rate Cap Credit Support Annexd) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Swap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Swap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Swap Provider, and, in either such case, unless the Interest Rate Cap Swap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Swap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Swap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Swap Agreement shall be withdrawn from the Interest Rate Cap Swap Collateral Account and paid to the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex.

Appears in 1 contract

Samples: Indenture (Renaissance Home Equity Loan Trust 2007-2)

Collateral Account. The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Wxxxx Fargo BankCitibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2AMC1, Asset-Backed Pass-Through Certificates, Series 2007-AMC2AMC1.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in form of cash or securities) posted by the Interest Rate Cap Provider to secure the obligations of the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Provider. The In no event shall the Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Providerthereon. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Agreement) with respect to the Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc1)

Collateral Account. The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Basis Risk Cap Credit Support Annex (the “Interest Rate Basis Risk Cap Custodian”). On or before the Closing Date, the Interest Rate Basis Risk Cap Custodian shall establish an Interest Rate a Basis Risk Cap Collateral Account. The Interest Rate Basis Risk Cap Collateral Account shall be held in the name of the Interest Rate Basis Risk Cap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Basis Risk Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Basis Risk Cap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Basis Risk Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2OPX1, Asset-Backed Pass-Through Certificates, Series 2007-AMC2OPX1.” The Interest Rate Basis Risk Cap Custodian shall credit to the Interest Rate Basis Risk Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Basis Risk Cap Provider to secure the obligations of the Interest Rate Basis Risk Cap Provider in accordance with the terms of the Interest Rate Basis Risk Cap AgreementAgreements. Except for investment earnings, the Interest Rate Basis Risk Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Basis Risk Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Basis Risk Cap Agreement, Agreements and applicable law. The Interest Rate Basis Risk Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Basis Risk Cap Collateral Account in accordance with the Interest Rate Basis Risk Cap Credit Support Annex. Cash collateral posted by the Interest Rate Basis Risk Cap Provider in accordance with the Interest Rate Basis Risk Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Basis Risk Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Basis Risk Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Basis Risk Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Basis Risk Cap Provider. The Interest Rate In no event shall the Basis Risk Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written directionthereon. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Basis Risk Cap AgreementAgreements) with respect to the Interest Rate Basis Risk Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Basis Risk Cap AgreementAgreements) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Basis Risk Cap Provider, and, in either such case, unless the Interest Rate Basis Risk Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Basis Risk Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Basis Risk Cap Provider in accordance with the Interest Rate Basis Risk Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Basis Risk Cap AgreementAgreements) in accordance with the Interest Rate Basis Risk Cap Credit Support Annex. Any excess amounts held in such Interest Rate Basis Risk Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Basis Risk Cap Agreement Agreements shall be withdrawn from the Interest Rate Basis Risk Cap Collateral Account and paid to the Interest Rate Basis Risk Cap Provider in accordance with the Interest Rate Basis Risk Cap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Opx1)

Collateral Account. The Trust Administrator Trustee (in its capacity as Cap Supplemental Interest Trust Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Cap Swap Custodian for registered Certificateholders of Citigroup Option One Mortgage Loan Trust 2007-AMC22, Asset-Backed Pass-Through Certificates, Series 2007-AMC22.” The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Swap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Custodian If no investment direction is provided, such amounts shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written directionremain uninvested. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Swap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Swap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Swap Provider, and, in either such case, unless the Interest Rate Cap Swap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Swap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Swap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Swap Agreement shall be withdrawn from the Interest Rate Cap Swap Collateral Account and paid to the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2)

Collateral Account. (a) The Trust Securities Administrator (in its capacity shall establish and maintain with itself, as Cap agent for the Trustee) is hereby directed to perform the obligations , on behalf of the Custodian as defined under the Supplement Interest Rate Cap Credit Support Annex Trust, separate, segregated trust accounts (the “Interest Rate Cap CustodianCollateral Accounts). On or before the Closing Date) titled, the Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the benefit Holders of the Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Deutsche Alt-A Securities Mortgage Loan Trust 2007-AMC2, Asset-Backed Pass-Through CertificatesTrust, Series 2007-AMC2OA2, Mortgage Pass-Through Certificate Cap Collateral Account”, “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the Holders of Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA2, Mortgage Pass-Through Certificate Floor Collateral Account” and “Xxxxx Fargo Bank, N.A. as Securities Administrator, in trust for the Holders of Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA2 Mortgage Pass-Through Swap Collateral Account”, respectively. The Collateral Accounts shall be Eligible Accounts, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other monies, including, without limitation, other monies of the Securities Administrator held pursuant to this Agreement.” The Interest Rate Cap Custodian shall credit (b) Funds required to be held pursuant to the Interest Rate Cap Collateral Account all collateral (whether in form of cash or securities) posted by the Interest Rate Cap Provider to secure the obligations of the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be deposited into the respective Collateral Accounts. Funds posted by any Derivative Provider (or its credit support provider) in the related Collateral Account shall be invested at in Eligible Investments as directed by the written direction related Derivative Counterparty (or its credit support provider), and in the absence of direction, shall remain uninvested. Any interest earnings on such amounts shall be remitted to such Derivative Provider pursuant to the terms of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap related Credit Support Annex. All The Securities Administrator shall not be liable for any losses incurred on such investments. On any Distribution Date as to which a shortfall exists with respect to Derivative Payments owed by a Derivative Provider as a result of its failure to make payments pursuant to the related Derivative Agreement, amounts earned on necessary to cover such shortfall shall be removed from the Collateral Account, remitted to the related Derivative Account and distributed as all or a portion of such Derivative Amount pursuant to Section 4.1(a)(vi) through (ix), as applicable. Any amounts on deposit in the Interest Rate Cap Collateral Account required to be returned to such Derivative Provider (whether cash collateral or securitiesits credit support provider) shall be for the account of and taxable to the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure termination of the Interest Rate Cap Provider to provide timely written direction. Upon related Derivative Agreement, (ii) the occurrence procurement of an Event a guarantor, (iii) the reinstatement of Default required ratings or Specified Condition (each as defined in the Interest Rate Cap Agreementiv) with respect otherwise pursuant to the Interest Rate Cap related Derivative Agreement, shall be released directly to such Derivative Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect pursuant to the Interest Rate Cap Provider, and, in either such case, unless terms of the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap related Credit Support Annex. (c) Upon the termination of the Trust Fund, any amounts remaining in the Collateral Accounts shall be distributed by the Securities Administrator as required pursuant to the terms of the Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2)

Collateral Account. The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Wxxxx Fargo BankCitibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2AHL1, Asset-Backed Pass-Through Certificates, Series 2007-AMC2AHL1.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in form of cash or securities) posted by the Interest Rate Cap Provider to secure the obligations of the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Provider. The In no event shall the Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Providerthereon. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Agreement) with respect to the Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ahl1)

Collateral Account. (a) The Trust Securities Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the CertificateholdersNoteholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Fargo Bank, N.A., as Interest Rate Cap Swap Custodian for registered Certificateholders Noteholders of Citigroup Mortgage Renaissance Home Equity Loan Trust 20072006-AMC24, Home Equity Loan Asset-Backed Pass-Through CertificatesNotes, Series 20072006-AMC24.” (b) The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. . (c) Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Investments in accordance with that mature no later than the requirements of Business Day prior to the Interest Rate Cap Credit Support Annexnext succeeding Payment Date. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Custodian Swap Provider shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined deposit in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by Swap Collateral Account from its own funds the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability amount of any loss incurred in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Investment held therein. (d) Upon the occurrence of an Event of Default Default, a Termination Event, or Specified Condition an Additional Termination Event (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined ), amounts in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted Swap Collateral Account shall be withdrawn by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be Swap Custodian and applied to the payment of any Obligations termination payment due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Swap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Swap Agreement shall be withdrawn from the Interest Rate Cap Swap Collateral Account and paid to the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex.

Appears in 1 contract

Samples: Indenture (Renaissance Home Equity Loan Trust 2006-4)

Collateral Account. The Trust Securities Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Derivatives Custodian as defined under the Interest Rate Cap Derivatives Credit Support Annex (the “Interest Rate Cap "Derivatives Custodian"). On or before the Closing Date, the Interest Rate Cap Derivatives Custodian shall establish an Interest Rate Cap a Derivatives Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Derivatives Custodian in trust for the benefit of the CertificateholdersNoteholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap "Collateral Account, Wxxxx Xxxxx Fargo Bank, N.A., as Interest Rate Cap Derivatives Custodian for registered Certificateholders Noteholders of Citigroup Newcastle Mortgage Loan Securities Trust 2007-AMC21, Asset-Backed Pass-Through CertificatesNotes, Series 2007-AMC21." The Interest Rate Cap Derivatives Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Derivatives Provider to secure the obligations of the Interest Rate Cap Derivatives Provider in accordance with the terms of the Interest Rate Cap Schedule to the ISDA Master Agreement. Except for investment earnings, the Interest Rate Cap Derivatives Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Schedule to the ISDA Master Agreement and applicable law. The Interest Rate Cap Derivatives Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Derivatives Credit Support Annex. Cash collateral posted by the Interest Rate Cap Derivatives Provider in accordance with the Interest Rate Cap Derivatives Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Derivatives Provider in Permitted Eligible Investments in accordance with the requirements of the Interest Rate Cap Derivatives Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Derivatives Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Derivatives Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Schedule to the ISDA Master Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Derivatives Provider, and, in either such case, unless the Interest Rate Cap Derivatives Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Derivatives Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Derivatives Provider in accordance with the Interest Rate Cap Derivatives Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Schedule to the ISDA Master Agreement) in accordance with the Interest Rate Cap Derivatives Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Schedule to the ISDA Master Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Derivatives Provider in accordance with the Interest Rate Cap Derivatives Credit Support Annex.

Appears in 1 contract

Samples: Indenture (Newcastle Mortgage Securities Trust 2007-1)

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Collateral Account. The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Wxxxx Fargo BankCitibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 20072006-AMC2HE3, Asset-Backed Pass-Through Certificates, Series 20072006-AMC2HE3.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in form of cash or securities) posted by the Interest Rate Cap Provider to secure the obligations of the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements overnight (or redeemable within two Local Business Days of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securitiesdemand) shall be for the account of and taxable to the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x Xxxxx’x or Aaa by Mxxxx’x, Xxxxx’x. Gains and losses incurred in respect of any investment of posted collateral in the form of Cash in Permitted Investments as directed by the Interest Rate Cap Provider shall be for the account of the Interest Rate Cap Provider. In no event shall the Interest Rate Cap Custodian be liable for the selection of Permitted Investments or for investment losses incurred thereon. The Interest Rate Cap Custodian shall have no liability liablility in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default Default, a Termination Event, or Specified Condition an Additional Termination Event (each as defined in the Interest Rate Cap Agreement) with respect to the Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default Default, a Termination Event, or Specified Condition an Additional Termination Event with respect to the Interest Rate Cap Provider, Provider and, in either such case, unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support AnnexAgreement) that are then due, then any collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be withdrawn by the Interest Rate Cap Custodian and applied to the payment of any Obligations termination payment due to Party B (as defined in the Interest Rate Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-He3)

Collateral Account. The Trust Administrator (in its capacity as Cap Supplemental Interest Trust Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the Certificateholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Fargo BankCitibank, N.A., as Interest Rate Cap Custodian Swap Custodian, in trust for the registered Certificateholders holders of Citigroup Mortgage Loan Trust 2007-AMC2WFHE4, Asset-Backed Pass-Through Certificates, Series 2007-AMC2WFHE4, Mortgage Pass-Through Certificates.” The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Swap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Swap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Swap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Swap Provider. The Interest Rate Cap Swap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Swap Provider to provide timely written direction. If no investment direction is provided, such amounts shall remain uninvested. In the event the Swap Custodian does not meet the Custodian Required Rating Threshold (as defined in the Interest Rate Swap Agreement), the Supplemental Interest Trust Trustee, at the direction of the Depositor, shall within 60 days obtain a replacement Swap Custodian that meets the Custodian Required Rating Threshold. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Swap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Swap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Swap Provider, and, in either such case, unless the Interest Rate Cap Swap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Swap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held To the extent the Swap Custodian is required to return any of the Posted Collateral (as defined in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid Swap Credit Support Annex) to the Interest Rate Cap Swap Provider under the terms of the Swap Credit Support Annex, the Swap Custodian shall return such collateral in accordance with the Interest Rate Cap terms of the Swap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Wfhe4)

Collateral Account. (a) The Trustee, as Supplemental Interest Trust Administrator (in its capacity as Cap Trustee) , is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex One (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap the Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the CertificateholdersHolders of the Class A, Class M and Class B Certificates. The Interest Rate Cap Collateral Account must be an Eligible Account segregated from the Certificate Account and any other moneys of the Trustee held pursuant to this Agreement and shall be titled entitled Interest Rate Cap Collateral AccountImpac Secured Assets Corp., Wxxxx Fargo Bank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2, Asset-Backed Pass-Through Certificates, Series 2007-AMC23, Collateral Account, Supplemental Interest Trust Trustee, as Custodian for the benefit of holders of the Class A, Class M and Class B Certificates.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. to secure the obligations of the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable lawCredit Support Annex One. The Interest Rate Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support AnnexAnnex One. Cash collateral posted by the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. in accordance with the Interest Rate Cap Credit Support Annex One shall be invested at the written direction of the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support AnnexAnnex One. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Provider. Xxxxxx Brothers Special Financing Inc. The Interest Rate Cap Custodian Trustee shall not be liable for the selection of Permitted Investments investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written directionthereon. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap AgreementSchedule) with respect to the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap AgreementSchedule) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap ProviderXxxxxx Brothers Special Financing Inc., and, in either such case, unless the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support AnnexAnnex One) that are then due, then any collateral posted by the Interest Rate Cap Provider Xxxxxx Brothers Special Financing Inc. in accordance with the Interest Rate Cap Credit Support Annex One, shall be applied by the Custodian to the payment of any Obligations due to Party B (each as defined in the Interest Rate Cap AgreementCredit Support Annex One) in accordance with the Interest Rate Cap Credit Support AnnexAnnex One. Any excess amounts held collateral posted by Xxxxxx Brothers Special Financing Inc. in such Interest Rate Cap Collateral Account accordance with Credit Support Annex One and remaining after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to Xxxxxx Brothers Special Financing Inc. in accordance with Credit Support Annex One. (b) The Trustee, as Supplemental Interest Trust Trustee, is hereby directed to perform the obligations of the Custodian as defined under Credit Support Annex Two (the “Custodian”). On or before the Closing Date, the Custodian shall establish the Collateral Account. The Collateral Account shall be held in the name of the Custodian in trust for the benefit of the Holders of the Class A, Class M and Class B Certificates. The Collateral Account must be an Eligible Account segregated from the Certificate Account and any other moneys of the Trustee held pursuant to this Agreement and shall be entitled “Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3, Collateral Account, Supplemental Interest Rate Cap Provider Trust Trustee, as Custodian for the benefit of holders of the Class A, Class M and Class B Certificates.” The Custodian shall credit to Collateral Account all collateral (whether in the form of cash or securities) posted by Bear Xxxxxxx Financial Products Inc. to secure the obligations of Bear Xxxxxxx Financial Products Inc. in accordance with the Interest Rate Cap terms of the Credit Support AnnexAnnex Two. The Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Collateral Account in accordance with Credit Support Annex Two. Cash collateral posted by Bear Xxxxxxx Financial Products Inc. in accordance with Credit Support Annex Two shall be invested at the written direction of Bear Xxxxxxx Financial Products Inc. in Permitted Investments in accordance with the requirements of Credit Support Annex Two. All amounts earned on amounts on deposit in Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to Bear Xxxxxxx Financial Products Inc. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Schedule) with respect to Bear Xxxxxxx Financial Products Inc. or upon occurrence or designation of an Early Termination Date (as defined in the Schedule) as a result of any such Event of Default or Specified Condition with respect to Bear Xxxxxxx Financial Products Inc., and, in either such case, unless Bear Xxxxxxx Financial Products Inc. has paid in full all of its Obligations (as defined in Credit Support Annex Two) that are then due, then any collateral posted by Bear Xxxxxxx Financial Products Inc. in accordance with Credit Support Annex Two, shall be applied by the Custodian to the payment of any Obligations due to Party B (each as defined in Credit Support Annex Two) in accordance with Credit Support Annex Two. Any excess collateral posted by Bear Xxxxxxx Financial Products Inc. in accordance with Credit Support Annex Two and remaining after payment of all amounts owing to Party B shall be withdrawn from the Collateral Account and paid to Bear Xxxxxxx Financial Products Inc. in accordance with Credit Support Annex Two.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3)

Collateral Account. (a) The Trust Securities Administrator (in its capacity as Cap Trustee) is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Swap Credit Support Annex (the “Interest Rate Cap Swap Custodian”). On or before the Closing Date, the Interest Rate Cap Swap Custodian shall establish an Interest Rate Cap a Swap Collateral Account. The Interest Rate Cap Swap Collateral Account shall be held in the name of the Interest Rate Cap Swap Custodian in trust for the benefit of the CertificateholdersNoteholders. The Interest Rate Cap Swap Collateral Account must be an Eligible Account and shall be titled “Interest Rate Cap Swap Collateral Account, Wxxxx Xxxxx Fargo Bank, N.A., as Interest Rate Cap Swap Custodian for registered Certificateholders Noteholders of Citigroup Mortgage Renaissance Home Equity Loan Trust 2007-AMC21, Home Equity Loan Asset-Backed Pass-Through CertificatesNotes, Series 2007-AMC21.” (b) The Interest Rate Cap Swap Custodian shall credit to the Interest Rate Cap Swap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Swap Provider to secure the obligations of the Interest Rate Cap Swap Provider in accordance with the terms of the Interest Rate Cap Swap Agreement. Except for investment earnings, the Interest Rate Cap Swap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Swap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, Swap Agreement and applicable law. The Interest Rate Cap Swap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Swap Collateral Account in accordance with the Interest Rate Cap Swap Credit Support Annex. . (c) Cash collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Swap Provider in Permitted Eligible Investments in accordance with the requirements of the Interest Rate Cap Swap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Swap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Swap Provider. The Interest Rate Cap Custodian shall not be liable for the selection of Permitted Investments or for any investment losses incurred through investment of the Posted Collateral . (as defined in the Interest Rate Cap Credit Support Annexd) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap Swap Agreement) with respect to the Interest Rate Cap Swap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Swap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Swap Provider, and, in either such case, unless the Interest Rate Cap Swap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Swap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex shall be applied to the payment of any Obligations due to Party B (as defined in the Interest Rate Cap Swap Agreement) in accordance with the Interest Rate Cap Swap Credit Support Annex. Any excess amounts held in such Interest Rate Cap Swap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Swap Agreement shall be withdrawn from the Interest Rate Cap Swap Collateral Account and paid to the Interest Rate Cap Swap Provider in accordance with the Interest Rate Cap Swap Credit Support Annex.

Appears in 1 contract

Samples: Indenture (Renaissance Home Equity Loan Trust 2007-1)

Collateral Account. (i) The Trustee, as Supplemental Interest Trust Administrator (in its capacity as Cap Trustee) , is hereby directed to perform the obligations of the Custodian as defined under the Interest Rate Cap Credit Support Annex One (the “Interest Rate Cap Custodian”). On or before the Closing Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap the Collateral Account. The Interest Rate Cap Collateral Account shall be held in the name of the Interest Rate Cap Custodian in trust for the benefit of the CertificateholdersHolders of the Class A, Class M and Class B Certificates. The Interest Rate Cap Collateral Account must be an Eligible Account segregated from the Certificate Account and any other moneys of the Trustee held pursuant to this Agreement and shall be titled entitled Interest Rate Cap Collateral AccountImpac Secured Assets Corp., Wxxxx Fargo Bank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-AMC2, Asset-Backed Pass-Through Certificates, Series 2007-AMC21, Collateral Account, Supplemental Interest Trust Trustee, as Custodian for the benefit of holders of the Class A, Class M and Class B Certificates.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Collateral Account all collateral (whether in the form of cash or securities) posted by the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. to secure the obligations of the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. in accordance with the terms of the Interest Rate Cap Agreement. Except for investment earnings, the Interest Rate Cap Provider shall not have any legal, equitable or beneficial interest in the Interest Rate Cap Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable lawCredit Support Annex. The Interest Rate Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. in accordance with the Interest Rate Cap Credit Support Annex shall be invested at the written direction of the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Interest Rate Cap Provider. Bear Xxxxxxx Financial Products Inc.. The Interest Rate Cap Custodian Trustee shall not be liable for the selection of Permitted Investments investments or for any investment losses incurred through investment of the Posted Collateral (as defined in the Interest Rate Cap Credit Support Annex) into Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Mxxxx’x or Aaa by Mxxxx’x, as directed by the Interest Rate Cap Provider. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any such Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written directionthereon. Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Interest Rate Cap AgreementSchedule) with respect to the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap AgreementSchedule) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap ProviderBear Xxxxxxx Financial Products Inc., and, in either such case, unless the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. in accordance with the Interest Rate Cap Credit Support Annex Annex, shall be applied by the Custodian to the payment of any Obligations due to Party B (each as defined in the Interest Rate Cap AgreementCredit Support Annex) in accordance with the Interest Rate Cap Credit Support Annex. Any excess amounts held collateral posted by Bear Xxxxxxx Financial Products Inc. in such Interest Rate Cap Collateral Account accordance with the Credit Support Annex and remaining after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider Bear Xxxxxxx Financial Products Inc. in accordance with the Interest Rate Cap Credit Support Annex.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-1)

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