Establishment of Basis Risk Reserve Account. (a) The Trust Administrator shall establish and maintain an Eligible Account in its name in trust for the benefit of the Noteholders, the Basis Risk Reserve Account. (b) The Swap Counterparty shall deposit any Net Swap Receipts into the Basis Risk Reserve Account as provided in the Swap Agreement. Amounts on deposit in the Basis Risk Reserve Account shall remain uninvested.
Appears in 5 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Establishment of Basis Risk Reserve Account. (a) The Trust Administrator shall establish and maintain an Eligible Account in its name in trust for the benefit of the Noteholders, the Basis Risk Reserve Account.
(b) The Swap Counterparty shall deposit any Net Swap Receipts into the Basis Risk Reserve Account as provided in the Swap AgreementAgreements. Amounts on deposit in the Basis Risk Reserve Account shall remain uninvested.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
