Derivative Contracts for Benefit of the Certificates. At any time on or after the Closing Date, the Issuer shall have the right to convey to the Trust Estate, solely for the benefit of the Holder of the Certificates, a derivative contract or comparable instrument. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such an instrument shall be distributed to the Certificates on the Payment Date following receipt thereof by the Indenture Trustee.
Appears in 19 contracts
Samples: Indenture (New Century Home Equity Loan Trust 2005-2), Indenture (New Century Home Equity Loan Trust 2005-3), Indenture (New Century Alternative Mortgage Loan Trust 2006-Alt1)
Derivative Contracts for Benefit of the Certificates. At any time on or after the Closing Date, the Issuer shall have the right to convey to the Trust EstateTrust, solely for the benefit of the Holder of the Certificates, a derivative contract or comparable instrument. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such an instrument shall be distributed to the Certificates on the Payment Date following receipt thereof by the Indenture TrusteeSecurities Administrator.
Appears in 12 contracts
Samples: Indenture (Renaissance Home Equity Loan Trust 2006-3), Indenture (Renaissance Home Equity Loan Trust 2006-3), Indenture (Renaissance Home Equity Loan Trust 2006-1, Home Equity Loan Asset-Backed Notes, Series 2006-1)
Derivative Contracts for Benefit of the Certificates. At any time on or after the Closing Date, the Issuer Issuing Entity shall have the right to convey to the Trust Estate, solely for the benefit of the Holder of the Certificates, a derivative contract or comparable instrument. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such an instrument shall be distributed to the Certificates on the Payment Date following receipt thereof by the Indenture Trustee.
Appears in 2 contracts
Samples: Indenture (New Century Home Equity Loan Trust 2006-2), Indenture (New Century Home Equity Loan Trust 2006-1)
Derivative Contracts for Benefit of the Certificates. At any time on or after the Closing Date, up to the time the Certificates are transferred to a Secured Party, the Issuer shall have the right to convey to the Trust Estate, solely for the benefit of the Holder of the Certificates, a derivative contract or comparable instrument. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such an instrument shall be distributed to the Certificates on the Payment Date following receipt thereof by the Indenture Trustee.
Appears in 1 contract
Samples: Indenture (Argent Securities Inc)
