Common use of Effect of Payments by the Clause in Contracts

Effect of Payments by the. Class A-2 Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A-2 Certificates which is made with moneys received pursuant to the terms of the Class A-2 Certificate Insurance Policy shall not be considered payment of the Class A-2 Certificates from the Trust Fund. The Depositor, the Servicer and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 Certificate agrees, that without the need for any further action on the part of the Class A-2 Certificate Insurer, the Depositor, the Servicer, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 Certificates to the Holders of such Class A-2 Certificates, the Class A-2 Certificate Insurer will be fully subrogated to, and each Class A-2 Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 Certificates, and (b) the Class A-2 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 Certificate Insurer for action to preserve or enforce the Class A-2 Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.

Effect of Payments by the. Class A-2 A-3b Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A-2 A-3b Certificates which is made with moneys received pursuant to the terms of the Class A-2 A-3b Certificate Insurance Policy shall not be considered payment of the Class A-2 A-3b Certificates from the Trust Fund. The Depositor, the Servicer and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 A-3b Certificate agrees, that without the need for any further action on the part of the Class A-2 A-3b Certificate Insurer, the Depositor, the Servicer, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 A-3b Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 A-3b Certificates to the Holders of such Class A-2 A-3b Certificates, the Class A-2 A-3b Certificate Insurer will be fully subrogated to, and each Class A-2 A-3b Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 A-3b Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 A-3b Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 A-3b Certificates, and (b) the Class A-2 A-3b 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 A-3b Certificate Insurer for action to preserve or enforce the Class A-2 A-3b Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.

Effect of Payments by the. Class A-2 A-1 Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A-2 A-1 Certificates which is made with moneys received pursuant to the terms of the Class A-2 A-1 Certificate Insurance Policy shall not be considered payment of the Class A-2 A-1 Certificates from the Trust FundFund (other than for federal income tax purposes). The Depositor, the Servicer Servicer, the Responsible Party and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 A-1 Certificate agrees, that without the need for any further action on the part of the Class A-2 A-1 Certificate Insurer, the Depositor, the Servicer, the Responsible Party, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 A-1 Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 A-1 Certificates to the Holders of such Class A-2 A-1 Certificates, the Class A-2 A-1 Certificate Insurer will be fully subrogated to, and each Class A-2 A-1 Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 A-1 Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 A-1 Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 A-1 Certificates, and (b) the Class A-2 A-1 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 A-1 Certificate Insurer for action to preserve or enforce the Class A-2 A-1 Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.

Effect of Payments by the. Class A-2 A-1 Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A-2 A-1 Certificates which is made with moneys received pursuant to the terms of the Class A-2 A-1 Certificate Insurance Policy shall not be considered payment of the Class A-2 A-1 Certificates from the Trust Fund. The Depositor, the Servicer and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 A-1 Certificate agrees, that without the need for any further action on the part of the Class A-2 A-1 Certificate Insurer, the Depositor, the Servicer, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 A-1 Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 A-1 Certificates to the Holders of such Class A-2 A-1 Certificates, the Class A-2 A-1 Certificate Insurer will be fully subrogated to, and each Class A-2 A-1 Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 A-1 Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 A-1 Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 A-1 Certificates, and (b) the Class A-2 A-1 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 A-1 Certificate Insurer for action to preserve or enforce the Class A-2 A-1 Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.

Effect of Payments by the. Class A-2 Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, solely for purposes of determining the Class A-2 Insurer's rights as subrogee for payments distributed pursuant to Section 4.02, any payment with respect to principal of or interest on the Class A-2 Certificates which is made with moneys received pursuant to the terms of the Class A-2 Certificate Insurance Policy shall not be considered payment of the Class A-2 Certificates from the Trust Fund. The Depositor, the Servicer and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 Certificate agrees, that without the need for any further action on the part of the Class A-2 Certificate Insurer, the Depositor, the Servicer, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 Certificates to the Holders of such Class A-2 Certificates, the Class A-2 Certificate Insurer will be fully subrogated to, and each Class A-2 Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 Certificates, and (b) the Class A-2 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 Certificate Insurer for action to preserve or enforce the Class A-2 Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.

Effect of Payments by the. Class A-2 A-2b Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class A-2 A-2b Certificates which is made with moneys received pursuant to the terms of the Class A-2 A-2b Certificate Insurance Policy shall not be considered payment of the Class A-2 A-2b Certificates from the Trust Fund. The Depositor, the Servicer and the Trustee acknowledge, and each Holder by its acceptance of a Class A-2 A-2b Certificate agrees, that without the need for any further action on the part of the Class A-2 A-2b Certificate Insurer, the Depositor, the Servicer, the Trustee or the Certificate Registrar (a) to the extent the Class A-2 A-2b Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on the Class A-2 A-2b Certificates to the Holders of such Class A-2 A-2b Certificates, the Class A-2 A-2b Certificate Insurer will be fully subrogated to, and each Class A-2 A-2b Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Class A-2 A-2b Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Class A-2 A-2b Certificateholders in respect of securities law violations arising from the offer and sale of the Class A-2 A-2b Certificates, and (b) the Class A-2 A-2b 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. The Trustee and the Servicer shall cooperate in all respects with any reasonable request by the Class A-2 A-2b Certificate Insurer for action to preserve or enforce the Class A-2 A-2b Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.