Credit Enhancement. 55 SECTION 12.
Credit Enhancement. (a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 1998-2 Certificateholders and the Cash Collateral Depositor, as their interests appear herein, a "Sellers Collateral Account" and a "Bank Collateral Account", each of which shall be one or more Eligible Deposit Accounts, each bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1998-2 Certificateholders and the Cash Collateral Depositor. The Sellers Collateral Account and the Bank Collateral Account are collectively referred to as the "Cash Collateral Account". The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Cash Collateral Account and in all proceeds thereof. The Cash Collateral Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1998-2 Certificateholders and the Cash Collateral Depositor. The interest of the Cash Collateral Depositor in the Cash Collateral Account shall be subordinated to the interests of the Series 1998-2 Certificateholders as provided herein and in the Loan Agreement. If at any time any of the accounts comprising the Cash Collateral Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash and/or any investments to such new account. The Trustee, at the direction of the Servicer, shall (i) on the Closing Date, deposit in the Cash Collateral Account the proceeds of the advance to be made on such date by the Cash Collateral Depositor under the Loan Agreement, (ii) make withdrawals from the Cash Collateral Account from time to time in an amount up to the Available Cash Collateral Amount at such time, for the purposes and in the manner set forth in paragraphs (c) through (i) below, and (iii) on each Distribution Date prior to the termination of the Cash Collateral Account make a deposit into the Cash Collateral Account in the amount specified in, and otherwise in accordance with, Section 4.09(j). All withdrawals from the Cash Collateral Account shall be made in the priority and in the manner set forth below. The Cash Collateral Depositor shall not be entitled to reimburs...
Credit Enhancement. Senior/Subordinated: Shifting interest. Cut-off Date: ------------- The Cut-off Date is August 1, 2002. Remittance Date: ---------------- The 25th day of each month, or if such 25th day is not a Business Day, the first Business Day immediately following, commencing September 25, 2002. Purchase Price: --------------- The purchase price payable by the Underwriter for the Certificates is 101.71578% of the aggregate principal balance of the Certificates as of the Closing Date plus accrued interest, as applicable, from August 1, 2002 up to but not including the Closing Date.
Credit Enhancement. Excess spread, overcollateralization, cross-collateralization and subordination as described in the related Prospectus Supplement. Also, the Certificates benefit from an interest rate swap agreement.
Credit Enhancement. Credit Enhancement (CE) information, both on a loan level basis and on a pool level basis, supplied by the MPF Provider on behalf of the MPF Bank is proprietary information. This information is shared with the PFI for the sole purpose of assisting the PFI to evaluate whether to sell the mortgages to the MPF Bank and for the PFI to determine the appropriate capital treatment for such mortgages, and for no other purpose, including but not limited to valuation for market securitization purposes. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof do not and cannot warrant the accuracy, adequacy or completeness of, or performance or results that may be obtained by using the MPF Provider’s system and/or any information or data generated with the use of this system. The information and data generated by the MPF Provider’s system are provided “as is” without any express or implied warranties, including but not limited to any implied warranties of merchantability or fitness for any particular purpose or use. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not be liable to any PFI or anyone else for any inaccuracy, delay, interruption in service, error or omission, regardless of cause, or for any resulting damages relating to or arising from the MPF Provider’s system and/or any information or data generated with the use of this system. Neither the MPF Bank, MPF Provider, their vendors, licensors, and all Affiliates thereof nor anyone else who has been involved in the creation or production of the MPF Provider’s system and/or the delivery of the information and data generated by the system or any component of the forgoing shall be liable for any indirect, incidental, special, punitive, consequential or similar damages, such as but not limited to, loss of anticipated profits or benefits resulting from the use of the information and data generated by the MPF Provider’s system, even if any of them has been advised as to the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. In the event that liability is nevertheless imposed, the cumulative liability of the MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not exceed $20,000 in the aggregate. The Loan Level Credit Enhancement amount for a Mortgage Loan as determined by the MPF credit enhancem...
Credit Enhancement. No credit enhancement is provided for the Series [ ] Environmental Control Bonds.
Credit Enhancement. If in connection with any Senior Loan, any Senior Lender requires a customary guaranty of non-recourse carve outs to facilitate the closing and funding of any Senior Loan (each, a “Loan Guaranty” and, collectively, the “Loan Guaranties”) DCT LLC shall cause DCT or other party acceptable to the applicable Senior Lender to provide such Loan Guaranties and shall furnish such representations or other documentation as TRT LLC may require (excluding any liability caused by the act or omission of TRT LLC or any of its controlled Affiliates) in order to determine whether such Loan Guaranty gives rise to partner nonrecourse debt that could reasonably be expected to result in a violation of Code Section 514(c)(9)(E) and the Treasury Regulations thereunder. Subject to the limitation below in this sentence, the Partnership hereby agrees to indemnify and hold harmless DCT LLC providing such Loan Guaranty (or any Affiliate of DCT LLC that enters into a Loan Guaranty) from and against all losses, costs and expenses, including, without limitation, reasonable attorney fees arising from the enforcement by the holder of such Loan Guaranty of amounts due or claimed due under the Loan Guaranty (collectively, “Loan Guaranty Losses”); provided that in no event shall the Partnership have any obligation to indemnify or hold harmless any such party (or shall such party have any rights of subrogation against the Partnership) on account of Loan Guaranty Losses if such Loan Guaranty Losses arise from the fraud, willful misconduct or gross negligence of DCT LLC or any of its controlled Affiliates, except to the extent that the Partnership has benefited from such wrongful action. Any indemnification obligation of the Partnership arising under this Section shall be referred to herein as a “Loan Guaranty Indemnification Obligation.”
Credit Enhancement. No credit enhancement (other than the Overcollateralization Amount, the Required Capital Amount and any adjustments to the Transition Bond Charge approved by the BPU as contemplated in the Servicing Agreement) is provided for the Series 2002-1 Transition Bonds.
Credit Enhancement. To the extent provided in the Trust Agreement, one or more forms of Credit Enhancement shall be maintained for the benefit of the Certificateholders. The Trust Agreement shall specify with respect to each such form of Credit Enhancement, among other things, the manner in which any funds relating to such Credit Enhancement are to be invested, the source and manner of payment of any Credit Enhancement Fees, the circumstances, if any, under which supplemental or replacement Credit Enhancement shall be obtained, the manner in which such Credit Enhancement is to be enforced, and whether such Credit Enhancement covers or will cover other Series of Certificates.
Credit Enhancement. No credit enhancement (other than the Overcollateralization Amount, the Required Capital Amount and any adjustments to the Transition Bond Charge approved by the BPU as contemplated in the Servicing Agreement) is provided for the Series 2001-1 Transition Bonds.
