Common use of Derivative Contracts Clause in Contracts

Derivative Contracts. (a) The Owner Trustee shall, at the direction of the Master Servicer, on behalf the Trust Estate, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(b) and (c). All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Estate shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust Estate other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.

Derivative Contracts. (a) The Owner Trustee shall, at the direction of the Master Servicer, on behalf the Trust Estate, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(b) and (c). All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Estate shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust Estate other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.

Derivative Contracts. (a) The Owner Trustee shall, at the direction of the Master Servicer, on behalf of the Trust EstateFund, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(b4.11(b) and (c). All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Estate Fund shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust Estate other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.

Derivative Contracts. (a) The Owner Trustee shall, at the written direction of the Master Servicer, on behalf of the Trust EstateFund, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(bclauses (b) and (c)) of this Section 4.09. All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Estate Fund shall be deemed to be divided into two separate and discrete sub-Truststrusts. The assets of one such sub-Trust trust shall consist of all the assets of the Trust Estate Fund other than such instrument and the assets of the other sub-Trust trust shall consist solely of such instrument.

Derivative Contracts. (a) The Owner Trustee shall, at the written direction of the Master Servicer, on behalf of the Trust EstateFund, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(b4.11(b) and (c). All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In 103 addition, in the event any such instrument is deposited, the Trust Estate Fund shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust Estate other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.

Derivative Contracts. (a) The Owner Trustee shall, at the written direction of the Master Servicer, on behalf of the Trust EstateFund, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 5.07(b4.11(b) and (c). All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Owner Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Estate Fund shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust Estate other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.