Common use of Establishment of Certificate Account; Deposits Therein Clause in Contracts

Establishment of Certificate Account; Deposits Therein. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more interest bearing trust accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "Wells Fargo Bank, N.A., as trustee for the registered holders of Bear Stearns Structured Products Inc. Trust, Seriex 0007-R8," held in trust by the Trustee for the benefit of the Certxxxxxxxholders. The Trustee shall cause to be deposited directly into the Certificate Account all distributions received by the Trustee on the Underlying Certificates (not including, with respect to the Group V Certificates, any Additional Class A-1 Interest Amounts received on the Underlying Group V Certificates), from whatever source, and all amounts received by it representing payment of a Repurchase Price pursuant to Section 2.03(c), subsequent to the Closing Date. The Certificate Account is initially located at the Trustee. The Trustee shall give notice to the Depositor and to Certificateholders of any new location of the Certificate Account prior to any change thereof. The Trustee shall have the right to create sub-accounts of the Certificate Account to facilitate the administration of funds.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8), Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)

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Establishment of Certificate Account; Deposits Therein. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more interest bearing trust accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "Wells Fargo Bank, N.A.U.S. Bank National Association, as trustee for the registered holders of Bear Stearns Structured Products Inc. TrustAsset Mortgage Investments II Trust 2005-F3 Certificates, Seriex 0007Series 2005-R8F3," held in trust by the Trustee for the benefit of the CertxxxxxxxholdersCertificateholders. The Trustee shall cause to be deposited directly into the Certificate Account (i) all distributions received on the Pooled Certificates and (ii) all distributions received on the Interest Rate Cap, in each case by the Trustee on in its capacity as holder of the Underlying Pooled Certificates (not including, with respect to and the Group V Certificates, any Additional Class A-1 Interest Amounts received on the Underlying Group V Certificates)Rate Cap, from whatever source, and all amounts received by it representing payment of a Repurchase Price pursuant to Section 2.03(c), subsequent to the Closing Date. The Certificate Account is initially located at the Trustee. The Trustee shall give notice to the Depositor and to Certificateholders of any new location of the Certificate Account prior to any change thereof. The Trustee shall have the right to create sub-accounts of the Certificate Account to facilitate the administration of funds.

Appears in 1 contract

Samples: Pooling Agreement (Structured Asset Mortgage Investments II Trust 2005-F3)

Establishment of Certificate Account; Deposits Therein. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more interest bearing trust accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "Wells Xxxxx Fargo Bank, N.A., as trustee for the registered holders of Bear Stearns Xxxxxxx Structured Products Inc. Trust, Seriex 0007Series 2008-R8R1," held in trust by the Trustee for the benefit of the CertxxxxxxxholdersCertificateholders. The Trustee shall cause to be deposited directly into the Certificate Account all distributions received by the Trustee on the Underlying Certificates (not including, with respect to the Group V Certificates, any Additional Class A-1 Interest Amounts received on the Underlying Group V Certificates), from whatever source, and all amounts received by it representing payment of a Repurchase Price pursuant to Section 2.03(c), subsequent to the Closing Date. The Certificate Account is initially located at the Trustee. The Trustee shall give notice to the Depositor and to Certificateholders of any new location of the Certificate Account prior to any change thereof. The Trustee shall have the right to create sub-accounts of the Certificate Account to facilitate the administration of funds.

Appears in 1 contract

Samples: Agreement (Bear Stearns Structured Products Inc. Trust 2008-R1)

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Establishment of Certificate Account; Deposits Therein. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more interest bearing trust accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "Wells Fargo Bank, N.A.U.S. Bank National Association, as trustee for the registered holders of Bear Stearns Structured Products Inc. TrustAsset Mortgage Investments II Trust 2005-F1 Certificates, Seriex 0007Series 2005-R8F1," held in trust by the Trustee for the benefit of the CertxxxxxxxholdersCertificateholders. The Certificate Account shall have four sub-accounts, one with respect to each Class of Certificates. The Trustee shall cause to be deposited directly into the Certificate Account all distributions received on the related Pooled Certificates and the related Interest Rate Caps by the Trustee on in its capacity as holder of the Underlying Pooled Certificates (not including, with respect to and the Group V Certificates, any Additional Class A-1 Interest Amounts received on the Underlying Group V Certificates)Rate Caps, from whatever source, and all amounts received by it representing payment of a Repurchase Price pursuant to Section 2.03(c), subsequent to the Closing DateDate to be deposited directly into the applicable sub-account of the Certificate Account. The Certificate Account is initially located at the Trustee. The Trustee shall give notice to the Depositor and to Certificateholders of any new location of the Certificate Account prior to any change thereof. The Trustee shall have the right to create sub-accounts of the Certificate Account to facilitate the administration of funds.

Appears in 1 contract

Samples: Pooling Agreement (Structured Asset Mortgage Investments Ii Trust 2005-F1)

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