Common use of Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by Trustee Clause in Contracts

Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by Trustee. The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to the REMIC I Regular Interests to the Trustee for the benefit of the Holders of the Class R-II Certificates and the REMIC III Certificates. The Trustee acknowledges the assignment to it of the REMIC I Regular Interests and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class R-II Certificates and the REMIC III Certificates. The rights of the Class R-II Certificateholders and REMIC III (as holder of the REMIC II Regular Interests) to receive distributions from the proceeds of REMIC II in respect of the Class R-II Certificates and the REMIC II Regular Interests, respectively, and all ownership interests evidenced or constituted by the Class R-II Certificates and the REMIC II Regular Interests, shall be as set forth in this Agreement.

Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by Trustee. The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to the REMIC I Regular Interests to the Trustee for the benefit of the Holders of the Class R-REMIC II Certificates and the REMIC III Certificates. The Trustee acknowledges the assignment to it of the REMIC I Regular Interests and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class R-REMIC II Certificates. SECTION 2.07. Execution, Authentication and Delivery of REMIC II Certificates. Concurrently with the assignment to it of the REMIC I Regular Interests and in exchange therefor, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the REMIC II Certificates and in authorized denominations evidencing the entire beneficial ownership of REMIC III CertificatesII. The rights of the Class R-II Certificateholders and REMIC III (as holder Holders of the respective Classes of REMIC II Regular Interests) Certificates to receive distributions from the proceeds of REMIC II in respect of the Class R-II Certificates and the their REMIC II Regular Interests, respectivelyCertificates, and all ownership interests evidenced or constituted by the Class R-respective Classes of REMIC II Certificates and the REMIC II Regular Interestsin such distributions, shall be as set forth in this Agreement.