Common use of Effect of Payments by the Certificate Insurer; Subrogation Clause in Contracts

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein in this Agreement to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates which that is made with moneys monies received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates from the Trust Fund. The DepositorMaster Servicer, the Master Servicer Depositor and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorSecurities Administrator, the Master Servicer, the Depositor, the Trustee or the Certificate Registrar (a) Registrar, to the extent the Certificate Insurer or the Fiscal Agent makes payments, directly or indirectly, on account of principal of or interest on the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such CertificateholderHolder of the Class A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates, the Securities Administrator, the Master Servicer Servicer, the Depositor and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) ; provided that the Certificate Insurer shall be paid such amounts only from the sources and in the manner explicitly provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at Agreement. Subject to Section 6.01(c)(iv), the Late Payment Rate from Trustee, the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee Securities Administrator and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107in this Agreement.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Insured Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Policy Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests 128 under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107129

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Insured Certificates from the Trust Fund. The DepositorSecurities Administrator, the Trustee, the Master Servicer and the Trustee acknowledgeDepositor each acknowledges, and each Holder by 106 its acceptance of a Class A Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorSecurities Administrator, the Trustee, the Master Servicer, the Trustee Servicer or the Certificate Registrar (a) Depositor, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer Holder of a Insured Certificate and the Trustee Securities Administrator hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) ; provided that the Certificate Insurer shall be paid such amounts only from the sources and in the manner explicitly provided herein for herein. Notwithstanding anything to the payment contrary set forth herein, all amounts due to be distributed to the Certificate Insurer on any Distribution Date (i) in respect of such reimbursements of Scheduled Payments under the Policy or (ii) in respect of any overdue amounts due and as provided owing to the Certificate Insurer, shall, in this Agreement until full reimbursement of all Insured Payments (together each case, be due and payable, with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof)Rate. The Trustee and Securities Administrator, the Trustee, the Master Servicer and the Depositor each shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A A-1 Certificates or Class A-2 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A A-1 Certificates or Class A-2 Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A A-1 Certificate or Class A-2 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A A-1 Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in the Insurance this Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment applicable Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107139

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust FundTrust. The Depositor, the Master Servicer Servicer, the Certificate Administrator and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Certificate Administrator, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of A Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer Certificateholder and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust FundTrust, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such amounts but only from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof)amounts. The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A A-1 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A A-1 Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A A-1 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A A-1 Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in the Insurance this Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107129

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A AF-3 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A AF-3 Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A AF-3 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A AF-3 Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in the Insurance this Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment payments of such amounts and as provided in this Agreement until full reimbursement of all Insured 117 Payments (together with interest thereon at the Late Payment Pass-Through Rate from form the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107. (a) By accepting its Certificate, each Class AF-3 Certificateholder agrees that, unless a Certificate Insurer Default exists, the Certificate Insurer shall be deemed to be the Class AF-3 Certificateholders for all purposes (other than with respect to the receipt of payment on such Classes of Certificates except payments with respect to which the Certificate Insurer has subrogation rights as set forth herein) and shall have the right to exercise all rights of such Certificateholders under this Agreement and under the Class AF-3 Certificates without any further consent of such Certificateholders. (b) All notices, statements, reports, certificates or opinions required by this Agreement to be sent to any Class AF-3 Certificateholder shall also be sent to the Certificate Insurer.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Insured Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Policy Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107122

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust Fund. The DepositorCompany, the Master Servicer Servicer, the Certificate Administrator and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorCompany, the Master Servicer, the Certificate Administrator, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer Servicer, the Certificate Administrator and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such amounts but only from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by amounts. The Trustee, the Certificate Insurer until the date of reimbursement thereof). The Trustee Administrator and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such amounts but only from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof)amounts. The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A A-1B Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A A-1B Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A A-1B Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A A-1B Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in the Insurance this Agreement) from the Trust Fund, and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107135

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 13.03, any payment with respect to principal of or interest on the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Insured Certificates from the Trust Fund. The DepositorMaster Servicer, the Master Servicer Company and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Master ServicerCompany, the Trustee or the Certificate Registrar (a) Registrar, to the extent the Certificate Insurer or any fiscal agent on behalf of the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Insured Certificateholder, the Master Servicer Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (b) ; provided that the Certificate Insurer shall be paid such amounts only from the sources and in the manner explicitly provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof)herein. The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Insured Certificates from the Trust Fundand shall not result in the payment of or the provision for the payment of the principal of or interest on the Insured Certificates within the meaning of Section 5.01. The Depositor, the Master Seller, the Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Seller, the Servicer, the Trustee or the Certificate Registrar (a) Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Insured Certificates to the Holders of such Class of Insured Certificates, (i) the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, and (bii) the Certificate Insurer shall be paid such amounts principal and interest but only from the sources and in the manner provided herein for the payment of such amounts principal and as provided in this Agreement until full reimbursement interest. Any payments of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid a Subordination Deficit by the Certificate Insurer until shall be deemed to be a payment of principal solely for the date purposes of reimbursement thereof)this Section 11.13 and the Certificate Insurer shall be fully subrogated to the rights of the Holders of Insured Certificates to receive such payments of any Subordination Deficit as a payment of principal and the related interest payments thereon. The Trustee Depositor, the Seller and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.

Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of the Class A Certificates from the Trust Fund. The Depositor, the Master Servicer and the Trustee acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Master Servicer, the Trustee or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer shall will be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such amounts but only from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof)amounts. The Trustee and the Master Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein. 107.