Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement: (i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests; (ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates; (iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and (iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa1), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR13 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and Assets, the REMIC II Regular InterestsInterests and the Yield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust created hereby. Christiana Deutsche Bank & Trust Company Delaware is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar13)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 7 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-7), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-7)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 OA5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 668.91 (the “"Initial Servicing Fee Shortfall Deposit”"), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s 's Servicing Fee for such Mortgage Loan over the first month’s 's interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa5), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR9 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 51,530.56 (the “Initial Group 1 Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage LoanLoan in Loan Group 1, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 2,901,579.24 (the “Initial Group 1 Interest Shortfall Deposit”) and $1,084,400.50 (the “Initial Group 2 Interest Shortfall Deposit”), representing the excess a portion of the aggregate Carryover Shortfall Interest Distribution Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC III Regular Interests for the first Distribution Date, and (iii) the amount of $5,718.38 (the “Initial Group 2 August Loan Deposit”), representing one month’s interest with respect to the August Loans in Loan Group 2, respectively.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar9), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR17 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and Assets, the REMIC II Regular InterestsInterests and the Yield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 154,583.27 representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts Distribution Amount for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC I and REMIC II Regular Interests for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar17), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 11 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Class A-3-M and Class A-5-M Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-11), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-11)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Asset Backed Certificates WaMu Series 2007-OA1 HE2 Trust”. .” The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer all or part of the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsTrust Fund;
(ii) to issue regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Trust REMICs and the Certificates;
(iii) to make distributions to on regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests Trust REMICs and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee Trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the CompanyDepositor, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company Depositor shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 AR6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 33,401.03 (the “Initial Group 1 Servicing Fee Shortfall Deposit”) and $29,308.65 (the “Initial Group 2 Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage LoanLoan in Loan Group 1 and Loan Group 2, respectively, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 513,204.07 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date, and (iii) the amount of $10,961.62 (the “Initial Group 1 August Loan Deposit”) and $196,149.59 (the “Initial Group 2 August Loan Deposit”), representing one month’s interest with respect to the August Loans in Loan Group 1 and Loan Group 2, respectively.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar6), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR15 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and Assets, the REMIC II Regular InterestsInterests and the Yield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar15), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar15)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Class 1-A-4-M and Class 1-A-7-M Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-2), Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR4 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar4)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 AR5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company does hereby sell, transfer, assign, set over, and otherwise convey to the Trust, and shall deposit in the Certificate Account (i) Account, the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 123,059.27 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until June 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2003-Ar5)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072003-OA1 AR2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes four separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company does hereby sell, transfer, assign, set over, and otherwise convey to the Trust, and shall deposit in the Certificate Account Account, (i) the amount of $87,311.92 323,458.87 (the “Group III Initial Servicing Fee Shortfall DepositDeposit Amount”), ) representing the sum, sum of the unpaid principal balance as of the Cut-Off Date and one month’s interest at the Pass-Through Rate with respect to each one mortgage loan that is described as a Group III Loan in the Prospectus but is not included in the Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, Pool and (ii) the amount of $3,280,023.81 323,287.46 (the “Group IV Initial Interest Shortfall DepositDeposit Amount”), ) representing the excess sum of the aggregate Carryover Shortfall Amounts for unpaid principal balance as of the Certificates over Cut-Off Date and one month’s interest at the aggregate Carryover Shortfall Payments for Pass-Through Rate with respect to one mortgage loan that is described as a Group IV Loan in the Certificates for Prospectus but is not included in the first Distribution DateMortgage Pool.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Mor Ps THR Ce Se 03 Ar2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 AR3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests, the REMIC II Regular Interests (including the Class X and Class B Certificates) and the Auction and Class R Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests (including the Class X and Class B Certificates) and the Auction and Class R Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 399,533.39 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until March 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortage Pass Thru Cert Series 2003-Ar3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 RS1 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Trust Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer Certificate Administrator or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Trust Agreement (Washington Mutual Mortgage Securities Corp Series 2004-Rs1)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR14 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 140,814.62 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until December 2005.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar14)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Long Beach Mortgage Pass-Through Certificates Series 2007-OA1 Trust”. Loan Trust 2006‑10.” The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer all or part of the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsTrust Fund;
(ii) to issue regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Trust REMICs and the Certificates;
(iii) to make distributions to on regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests Trust REMICs and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust created hereby. Christiana Deutsche Bank & Trust Company Delaware is hereby appointed as the Delaware trustee Trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Deutsche Bank & Trust Company Delaware hereby accepts such appointment and the trust created hereby. It is the intention of the CompanyDepositor, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company Depositor shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-10)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072003-OA1 MS6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” and “REMIC II Distribution Amount” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass Through Cert Series 2003-Ms6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular InterestsClass R-1, the Class R-1 R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. Conveyance of the Mortgage Pool Assets and REMIC I Regular Interests; REMIC Election and Designations; Original Issuance of Certificates
Section 2.01. Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu "Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072004-OA1 RA3 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as "Loan Groups") constituting subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of "REMIC I Distribution Amount" and "REMIC II Distribution Amount," Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR7 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular InterestsInterests (other than the Class 1A, Class 2A, Class 3A and Class 3A-1B Certificates);
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” and in Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 544,075.25 (the “Initial Servicing Fee Shortfall Group 1 Deposit”), $1,318,995.02 (the “Initial Group 2 Deposit”) and $233,086.47 (the “Initial Group 3 Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Distribution Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC III Regular Interests for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar7)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 OC2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 AR3 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 19,909.02 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until June 2004.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass-Through Certificates Series 2004 Ar-3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes seven separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust created hereby. Christiana Deutsche Bank & Trust Company Delaware is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 620,929.21 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts Distribution Amount for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC I and REMIC II Regular Interests for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar5)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Group 3-L, Class 1-A-1-M, Class 1-A-7-M, Class 1-A-12-M and Class 2-CB-2-M Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes four separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 AR10 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Regular InterestsYield Maintenance Agreements;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 10 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets Assets, the REMIC III Assets, the Class 2-A-3-M and Class 4-CB-3-M Regular Interests and the REMIC II Regular InterestsYield Maintenance Agreements;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage PassWashington Mutual Asset-Through Backed Certificates WMABS Series 20072006-OA1 HE2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Regular Interests, the REMIC II Assets Regular Interests and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 L6-SW Regular Interest, the Class R-1, Class R-2, Class R-3, Class R-4, Class R-5, and Class R-2 R-6 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the REMIC III Regular Interests, the Class L6-SW Regular Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR10 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular InterestsClass R-1, the Class R-1 R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar10)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR1 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Bankers Trust Company of California, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Bankers Trust Company of California, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Bankers Trust Company (Delaware), is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Bankers Trust Company (Delaware), hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Bankers Trust Company of California, N.A. or the institution acting as Delaware Trustee Bankers Trust (Delaware) in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 2,579.25 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such a Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Datewhich does not have a Due Date until March 2002.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mor Sec Corp Mor Pa THR Cer Ser 2002-Ar1)
Creation of the Trust. Conveyance of the Mortgage Pool Assets and REMIC I Regular Interests; REMIC Election and Designations; Original Issuance of Certificates
SECTION 2.01. Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 S3 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2004-S3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 AR14 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Long Beach Mortgage Pass-Through Certificates Series 2007-OA1 Trust”. Loan Trust 2006‑11.” The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer all or part of the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsTrust Fund;
(ii) to issue regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Trust REMICs and the Certificates;
(iii) to make distributions to on regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests Trust REMICs and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust created hereby. Christiana Deutsche Bank & Trust Company Delaware is hereby appointed as the Delaware trustee Trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Deutsche Bank & Trust Company Delaware hereby accepts such appointment and the trust created hereby. It is the intention of the CompanyDepositor, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company Depositor shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank X.X.Xxxx National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 14,079.13 (the “Initial Servicing Fee Shortfall Late Interest Deposit”), ) representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until May 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2003-S2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar1)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S7 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass-Through Certificates Series 2003-S7)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR18 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular InterestsClass R-1, the Class R-1 R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar18)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 HY1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIV Assets;
(ii) to issue the REMIC I Regular Interests, the and REMIC II III Regular Interests, the Class R-1 R-1, Class R-2, Class R-3 and Class R-2 R-4 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the and REMIC II III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy1)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 AR14 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2004-Ar14)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “"WaMu Mortgage Pass-Through Certificates Series 2007-OA1 OA4 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets Assets, the REMIC III Assets, the REMIC III Regular Interests and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 249,987.36 (the “"Initial Group 1 Servicing Fee Shortfall Deposit”") and $39,899.85 (the "Initial Group 2 Servicing Fee Shortfall Deposit"), representing the sum, with respect to each Mortgage LoanLoan in Loan Group 1 and Loan Group 2, respectively, of the excess, if any, of the first month’s 's Servicing Fee for such Mortgage Loan over the first month’s 's interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 7,006,520.83 (the “"Initial Interest Shortfall Deposit”"), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa4)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 HY6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II IV Assets and the REMIC II Regular InterestsV Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 2-A4-L Regular Interest, the Class R-1, Class R-2, Class R-3, Class R-4 and Class R-2 R-5 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I II Regular Interests, the REMIC II Class 2-A4-L Regular Interests Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S8 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortage Pass Thru Cert Ser 2003-S8)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR8 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 249,601.97 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until September 2002.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Mort Pas THR Cer Se 2002-Ar8)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 OC1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu "Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072002-OA1 MS4 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle State Street Bank National Association and Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle State Street Bank National Association and Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of parties hereto acknowledge that the Trust shall remain in the custody includes three separate pools of the Trustee or the Custodian, on behalf of the Trustmortgage loans (referred to herein as Loan Groups), and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of that the assets of each Loan Group are available to make payments to the Trust to any Person, except holders of Certificates as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit provided in the Certificate Account (i) the amount definitions of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date."REMIC I Distribution
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Pass Through Certificates Series 2002-Ms4)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 AR9 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2004-Ar9)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage PassWashington Mutual Asset-Through Backed Certificates WMABS Series 20072006-OA1 HE1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Regular Interests, the REMIC II Assets Regular Interests and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 L6-SW Regular Interest, the Class R-1, Class R-2, Class R-3, Class R-4, Class R-5, and Class R-2 R-6 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the REMIC III Regular Interests, the Class L6-SW Regular Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount,” “REMIC III Distribution Amount,” “REMIC IV Distribution Amount,” “REMIC V Distribution Amount” and “REMIC VI Distribution Amount,” and Article IV. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He1)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 14,530.83 (the “Initial Servicing Fee Shortfall Late Interest Deposit”), ) representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until April 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Ser 2003-S1)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR5 Trust”. ." The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.The
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Thru Certs Series 2002-Ars)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 2,550.19 (the “Initial Servicing Fee Shortfall Group 1 Deposit”) and $10,528.80 (the “Initial Group 2 Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Distribution Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC II Regular Interests for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 AR1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and Assets, the REMIC II Regular InterestsInterests (other than the Class X-1, Class X-2 and Class X-3 Certificates) and the Yield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072003-OA1 AR3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes four separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MSC Mortgage Pass Through Certificates Series 2003-Ar3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S9 Trust”. .” The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certs Ser 2003-S9)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company does hereby sell, transfer, assign, set over, and otherwise convey to the Trust, and shall deposit in the Certificate Account (i) the amount of $87,311.92 9,861.50 (the “Initial Servicing Fee Shortfall Late Interest Deposit”), ) representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until June 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2003 S3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR12 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups”, constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 89,347.65 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until October 2005.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR19 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the REMIC II Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 640,887.82 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until February 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Ser 2002-Ar19)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsYield Maintenance Agreements;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Class PPP-M Regular InterestsInterest;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 S7 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle JPMorgan Chase Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle JPMorgan Chase Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Chase Manhattan Bank & Trust Company USA, National Association is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Chase Manhattan Bank & Trust Company USA, National Association hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates 2002-S7)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsYield Maintenance Agreements;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Class 3-A-4-M Regular InterestsInterest;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. (a) The Trust was trust created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as IndyMac Residential Asset-Backed Trust, Series 2004-LH1 (the “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 Trust”. The purpose of ), in which name the Trust is, and Owner Trustee may conduct the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee business of the Trust, to have all the rightsmake and execute contracts, duties and obligations of the Trustee with respect sxx and be sued.
(b) The Depositor hereby assigns, transfers, conveys and sets over to the Trust expressly set forth hereunderOwner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor, and LaSalle Bank National Association which amount shall constitute the initial trust estate. The Owner Trustee hereby accepts such appointment and declares that it will hold the trust created hereby. Christiana Bank & Trust Company is hereby appointed as estate in trust for the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created herebyDepositor. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Statutory Trust StatuteDelaware Code, 12 Del. C. § 3801 et seq. and that this Trust Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge Owner Trustee is hereby authorized and agree thatdirected to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto.
(c) The Seller, prior Depositor and the Owner Trustee will enter into an amended and restated trust agreement satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby. Prior to the execution and delivery hereofof such amended and restated trust agreement, the Delaware Owner Trustee has filed shall not have any duty or obligation hereunder or with respect to the Certificate of Trust. The assets trust estate, except as otherwise required by applicable law or may be necessary to obtain prior to such execution and delivery and licenses, consents or approvals required buy applicable law or otherwise; provided however, the Depositor may instruct the Owner Trustee with respect to operation of the Trust shall remain in the custody of the Trustee or the Custodian, and action to be taken on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of extent the Trust Owner Trustee follows such instructions in good faith it shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject liable to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Dateperson.
Appears in 1 contract
Samples: Trust Agreement (Indymac Abs Inc)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR18 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust created hereby. Christiana Deutsche Bank & Trust Company Delaware is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar18)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072003-OA1 AR4 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes seven separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Pass THR Cert Se 2003-Ar4)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 AR7 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 162,786.76 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until August 2003.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Wamu Mor Pas Th Ce Se 03 Ar7)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu "Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072004-OA1 RA1 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as "Loan Groups") constituting subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of "REMIC I Distribution Amount" and "REMIC II Distribution Amount," Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage PassWashington Mutual Asset-Through Backed Certificates WMABS Series 2007-OA1 HE2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Regular Interests, the REMIC II Assets Regular Interests and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 L6-SW Regular Interest, the Class R-1, Class R-2, Class R-3, Class R-4, Class R-5, and Class R-2 R-6 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the REMIC III Regular Interests, the Class L6-SW Regular Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount,” “REMIC III Distribution Amount,” “REMIC IV Distribution Amount,” “REMIC V Distribution Amount” and “REMIC VI Distribution Amount,” and Article IV. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 AR4 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular InterestsInterests (other than the Class 1A, Class 2A, Class 3A, Class DA, Class X-3 and Class X-4 Certificates);
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” and in Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 4,940.04 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Class DA Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Asset Backed Certificates WaMu Series 2007-OA1 HE3 Trust”. .” The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer all or part of the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsTrust Fund;
(ii) to issue regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Trust REMICs and the Certificates;
(iii) to make distributions to on regular and residual interests in the REMIC I Regular Interests, the REMIC II Regular Interests Trust REMICs and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee Trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the CompanyDepositor, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company Depositor shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR15 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the REMIC II Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 1,928.33 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such a Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Datewhich does not have a Due Date until December 2002.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-Ar15)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 AR8 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cer Ser 2003-Ar8)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage PassWashington Mutual Asset-Through Backed Certificates WMABS Series 20072006-OA1 HE3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC I Regular Interests, the REMIC II Assets Regular Interests and the REMIC II III Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 L6-SW Regular Interest, the Class R-1, Class R-2, Class R-3, Class R-4, Class R-5, and Class R-2 R-6 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Interests, the REMIC III Regular Interests, the Class L6-SW Regular Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, hereunder and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount,” “REMIC III Distribution Amount,” “REMIC IV Distribution Amount,” “REMIC V Distribution Amount” and “REMIC VI Distribution Amount,” and Article IV. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072003-OA1 MS8 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” and in Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass THR Cert Ser 2003 Ms8)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 CB3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes four separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 8,446.88 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until October 2004.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2004-Cb3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072005-OA1 RA1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072005-OA1 3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsYield Maintenance Agreements;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR10 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 100,719.04 representing the sum, one month’s interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until September 2005.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar10)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu "Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072002-OA1 MS11 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle State Street Bank National Association and Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle State Street Bank National Association and Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of parties hereto acknowledge that the Trust shall remain in the custody includes three separate pools of the Trustee or the Custodian, on behalf of the Trustmortgage loans (referred to herein as Loan Groups), and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of that the assets of each Loan Group are available to make payments to the Trust to any Person, except holders of Certificates as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit provided in the Certificate Account (i) the amount definitions of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date."REMIC I Distribution
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pas THR Cert Ser 2002 Ms11)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 AR10 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests Interests, the Variable Servicing Interest and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests Variable Servicing Interest and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certs Ser 2003-Ar10)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-3 Residual Interests and the Certificates to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1, Class R-2 and Class R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby xxxxxx appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Washington Mutual MSC Mortgage Pass-Through Certificates Series 20072004-OA1 RA4 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee (or the CustodianCus todian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 AR10 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), 5,466.35 representing the sum, one month's interest with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution DateLoans which do not have a Due Date until October 2002.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert 2002-Ar10)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 1 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II Class 1-A-7-M Regular InterestsInterest;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 AR7 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 43,162.24 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, Loan and (ii) the amount of $3,280,023.81 192,434.83 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072004-OA1 RS2 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Trust Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association Citibank, N.A. is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association Citibank, N.A. hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Citibank, N.A. or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer Certificate Administrator or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Trust Agreement (Wamu Mortgage Pass-Through Certificates Series 2004-Rs2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “"WaMu Mortgage Pass-Through Certificates Series 2007-OA1 OA6 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets Assets, the REMIC III Assets, the REMIC III Regular Interests and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 259,814.00 (the “"Initial Group 1 Servicing Fee Shortfall Deposit”") and $48,142.90 (the "Initial Group 2 Servicing Fee Shortfall Deposit"), representing the sum, with respect to each Mortgage LoanLoan in Loan Group 1 and Loan Group 2, respectively, of the excess, if any, of the first month’s 's Servicing Fee for such Mortgage Loan over the first month’s 's interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 6,162,788.21 (the “"Initial Interest Shortfall Deposit”"), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Washington Mutual Mortgage Pass-Through Certificates WMALT Series 20072006-OA1 AR5 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets, the REMIC IV Assets and the REMIC II IV Regular InterestsInterests (other than the Class 1A, Class 2A, Class 3A, Class 4A and Class 5A Certificates);
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the REMIC IV Regular Interests, the Class R-1 R-1, Class R-2, Class R-3 and Class R-2 R-4 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the REMIC IV Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes five separate pools of mortgage loans (referred to herein as Loan Groups) constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount,” “REMIC III Distribution Amount” and “REMIC IV Distribution Amount,” and in Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 34,213.61 (the “Initial Servicing Fee Shortfall Group 1 Deposit”), $2,768.63 (the “Initial Group 2 Deposit”), $2,269.73 (the “Initial Group 3 Deposit”) and $223,159.66 (the “Initial Group 4 Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Distribution Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC IV Regular Interests for the first Distribution Date.
Appears in 1 contract
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 OA2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets, the REMIC III Assets and the REMIC II III Regular InterestsInterests (other than the Class 1X-2 Certificates);
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests, the Class R-1 R-1, Class R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 82,357.42 (the “Initial Group 1 Servicing Fee Shortfall Deposit”) and $1,649.46 (the “Initial Group 2 Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage LoanLoan in Loan Group 1 and Loan Group 2, respectively, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 2,886,072.80 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR3 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular Interests;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company Company, is hereby xxxxxx appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company Company, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee (or the Custodian), on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee LaSalle Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar3)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 S2 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle State Street Bank National Association and Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle State Street Bank National Association and Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory business trust under the Statutory Business Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes three separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of "REMIC I Distribution Amount" and "REMIC II Distribution Amount," Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee State Street Bank and Trust Company or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-S2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “"WaMu Mortgage Pass-Through Certificates Series 20072002-OA1 S8 Trust”". The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle State Street Bank National Association and Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle State Street Bank National Association and Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of "REMIC I Distribution Amount" and "REMIC II Distribution Amount," Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee State Street Bank and Trust Company or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Series 2002-S8)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072005-OA1 AR11 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsYield Maintenance Agreement;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular InterestsInterests and the Certificates, the Class R-1 and Class R-2 Residual Interests and the CertificatesInterests;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Deutsche Bank National Association Trust Company is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Deutsche Bank National Association Trust Company hereby accepts such appointment and the trust Trust created hereby. Christiana Deutsche Bank & Trust Company Delaware, is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Deutsche Bank & Trust Company Delaware, hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee Deutsche Bank National Trust Company or the institution acting as Deutsche Bank Trust Company Delaware Trustee in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072003-OA1 S6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 R Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle U.S. Bank National Association is hereby appointed as the a trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle U.S. Bank National Association hereby accepts such appointment and the trust Trust created hereby. Christiana Bank & Trust Company is hereby appointed as the a Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust Trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans (referred to herein as Loan Groups), and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount” and in Section 4.01, Section 4.04 and Section 4.05 hereof. The assets of the Trust shall remain in the custody of the Trustee or the CustodianTrustee, on behalf of the Trust, and shall be owned by the TrustTrust except as otherwise expressly set forth herein. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by in the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee U.S. Bank National Association or the institution acting as Delaware Trustee Christiana Bank & Trust Company in its own right, or any Person claiming through eitherit. Neither the Trustee nor the Delaware Trustee Trustee, on behalf of the Trust, shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Master Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Wamu Mo Pa Th Ce Se 03 S6)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 2007-OA1 HY2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsIII Assets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular InterestsClass R-1, the Class R-1 R-2 and Class R-2 R-3 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 (the “Initial Servicing Fee Shortfall Deposit”), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates for the first Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy2)
Creation of the Trust. The Trust was created pursuant to the Original Trust Agreement and is hereby continued. As set forth in the Original Trust Agreement, the Trust shall be known as “WaMu Mortgage Pass-Through Certificates Series 20072006-OA1 AR6 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:
(i) to acquire, hold, lease, manage, administer, control, invest, reinvest, operate and/or transfer the Mortgage Pool Assets, the REMIC II Assets and the REMIC II Regular InterestsAssets;
(ii) to issue the REMIC I Regular Interests, the REMIC II Regular Interests, the Class R-1 and Class R-2 Residual Interests and the Certificates;
(iii) to make distributions to the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates; and
(iv) to engage in such other activities, including entering into agreements, as are described in or required by the terms of this Agreement or as are necessary, suitable or convenient to accomplish the foregoing or incidental thereto. LaSalle Bank National Association is hereby appointed as the trustee of the Trust, to have all the rights, duties and obligations of the Trustee with respect to the Trust expressly set forth hereunder, and LaSalle Bank National Association hereby accepts such appointment and the trust created hereby. Christiana Bank & Trust Company is hereby appointed as the Delaware trustee of the Trust, to have all the rights, duties and obligations of the Delaware Trustee with respect to the Trust hereunder, and Christiana Bank & Trust Company hereby accepts such appointment and the trust created hereby. It is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement. The parties hereto acknowledge and agree that, prior to the execution and delivery hereof, the Delaware Trustee has filed the Certificate of Trust. The parties hereto acknowledge that the Trust includes two separate pools of mortgage loans referred to herein as “Loan Groups” constituting separate subtrusts for ERISA purposes, and that the assets of each Loan Group are available to make payments to the holders of Certificates as provided in the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount” and in Section 4.01 and Section 4.04 hereof. The assets of the Trust shall remain in the custody of the Trustee or the Custodian, on behalf of the Trust, and shall be owned by the Trust. Moneys to the credit of the Trust shall be held by the Trustee and invested as provided herein. All assets received and held by the Trust will not be subject to any right, charge, security interest, lien or claim of any kind in favor of either of the institution acting as Trustee or the institution acting as Delaware Trustee in its own right, or any Person claiming through either. Neither the Trustee nor the Delaware Trustee shall have the power or authority to transfer, assign, hypothecate, pledge or otherwise dispose of any of the assets of the Trust to any Person, except as permitted herein. No creditor of a beneficiary of the Trust, of the Trustee, of the Delaware Trustee, of the Servicer or of the Company shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the Trust, except in accordance with the terms of this Agreement. On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $87,311.92 2,550.19 (the “Initial Servicing Fee Shortfall Group 1 Deposit”) and $10,528.80 (the “Initial Group 2 Deposit”), representing the sum, with respect to each Mortgage Loan, a portion of the excess, if any, of the first month’s Servicing Fee for such Mortgage Loan over the first month’s interest accrued on such Mortgage Loan, and (ii) the amount of $3,280,023.81 (the “Initial Interest Shortfall Deposit”), representing the excess of the aggregate Carryover Shortfall Distribution Amounts for the Certificates over the aggregate Carryover Shortfall Payments for the Certificates REMIC II Regular Interests for the first Distribution Date.
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Samples: Pooling and Servicing Agreement