Common use of EC Trust Clause in Contracts

EC Trust. (a) The assets of the EC Trust shall consist of the EC Trust REMIC III Regular Interests, which have been placed in the EC Trust through the efforts of the Underwriters. The EC Trust REMIC III Regular Interests shall be held by the Certificate Administrator on behalf of the Trustee for the benefit of the Holders of the EC Trust Certificates, which EC Trust Certificates, in the aggregate, will evidence 100% beneficial ownership of such assets from and after the Closing Date. At all times, the Class A-S, Class B and Class C Certificates shall represent beneficial ownership interests in the Class A-S Percentage Interest, the Class B Percentage Interest and the Class C Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest, Class B REMIC III Regular Interest and Class C REMIC III Regular Interest, respectively. At all times, the Class PST Certificates shall represent beneficial ownership interests in the Class PST Components. Under no circumstances may the Certificate Administrator vary the assets of the EC Trust so as to take advantage of variations in the market so as to improve the rate of return of Holders of the EC Trust Certificates. The Certificate Administrator shall be deemed to hold and shall account for the assets of the EC Trust separate and apart from the assets of REMIC I, REMIC II and REMIC III created hereunder.

EC Trust. (a) The assets of the EC Trust shall consist of the EC Trust REMIC III Regular Interests, which have been placed in the EC Trust through the efforts of the Underwriters. The EC Trust REMIC III Regular Interests shall be held by the Certificate Administrator on behalf of the Trustee for the benefit of the Holders of the EC Trust Certificates, which EC Trust Certificates, in the aggregate, will evidence 100% beneficial ownership of such assets from and after the Closing Date. At all times, the Class A-S, Class B and Class C Certificates shall represent beneficial ownership interests in the Class A-S Percentage Interest, the Class B Percentage Interest and the Class C Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest, Class B REMIC III Regular Interest and Class C REMIC III Regular Interest, respectively. At all times, the Class PST Certificates shall represent beneficial ownership interests in the Class PST Components. Under no circumstances may the Certificate Administrator vary the assets of the EC Trust so as to take advantage of variations in the market so as to improve the rate of return of Holders of the EC Trust Certificates. The Certificate Administrator shall be deemed to hold and shall account for the assets of the EC Trust separate and apart from the assets of REMIC I, REMIC II and REMIC III XXXXX XXX created hereunder.