Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator under the Supplemental Interest Trust pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator as paying agent for the benefit of the LIBOR Certificateholders and the Class X Certificateholders and designated “Wxxxx Fargo Bank, N.A. as paying agent in trust for registered holders of First Franklin Mortgage Loan Trust 2006-FF11 Mortgage Pass-Through Certificates, Series 2006-FF11”. Funds in the Excess Reserve Fund Account shall be held in trust for such Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested. The Excess Reserve Fund Account shall be considered part of the Supplemental Interest Trust but not part of any REMIC.
Excess Reserve Fund Account. (a) On the Closing Date, the Indenture Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Class IA-1 Notes and the Group I Mezzanine Notes, the Excess Reserve Fund Account. The Excess Reserve Fund Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Indenture Trustee held pursuant to this Indenture.
(b) On the Closing Date, $5,000 will be deposited by the Indenture Trustee into the Excess Reserve Fund Account. Thereafter, on any Payment Date if the Group I Pool Cap does not exceed the Note Rate applicable to the Class IA-1 Notes or the Group I Mezzanine Notes by at least 0.25%, the amount to be held in the Excess Reserve Fund Account on any Payment Date thereafter will equal the greater of (i) 0.50% of the outstanding Note Balance of the Class IA-1 Notes and the Group I Mezzanine Notes as of such Payment Date and (ii) $5,000 and will be funded from amounts paid pursuant to Section 3.06. Thereafter, if the Group I Pool Cap for any Payment Date exceeds the Note Rate applicable to the Class IA-1 Notes and the Group I Mezzanine Notes on such Payment Date by 0.25% or more, the Required Excess Reserve Fund Balance for such Payment Date will be at least $5,000. The amount required to be on deposit in the Excess Reserve Fund Account at any time is referred to herein as the "Required Excess Reserve Fund Balance." In addition to the Required Excess Reserve Fund Balance, the amount on deposit in the Excess Reserve Fund Account will be increased by any payments received by the Indenture Trustee under the Cap Contract or the Cap Contract Pledge Agreement and deposited into the Excess Reserve Fund Account.
(c) On each Payment Date on which there exists a related LIBOR Carryover Amount on the Class IA-1 Notes or the Group I Mezzanine Notes, the Indenture Trustee shall withdraw from the Excess Reserve Fund Account amounts necessary to pay the related LIBOR Carryover Amount incurred by xxxx Xxxx, xxxxl such amount is reduced to zero.
(d) Funds in the Excess Reserve Fund Account may be invested in Permitted Investments by the Indenture Trustee at the direction of the Majority Noteholders of the Class IX Notes. On each
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator under the Supplemental Interest Trust pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator as paying agent for the benefit of the LIBOR Certificateholders, the Class A-IO Certificateholders and the Class X Certificateholders and designated “Wxxxx Fargo Bank, N.A. as paying agent in trust for registered holders of First Franklin Mortgage Loan Trust 2006-FF5, Mortgage Pass-Through Certificates, Series 2006-FF5”. Funds in the Excess Reserve Fund Account shall be held in trust for such Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested. The Excess Reserve Fund Account shall be considered part of the Supplemental Interest Trust but not part of any REMIC.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.27(a) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated “JPMorgan Chase Bank as Securities Administrator in trust for registered holders of GSAMP Trust 2004-SD1, Mortgage Pass-Through Certificates, Series 2004-SD1.” Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The separate, non-interest bearing Eligible Account created and maintained by the Trustee pursuant to Sections 3.27(a) in the name of the Trustee for the benefit of the Group II Certificateholders and designated “Deutsche Bank National Trust Company in trust for registered Holders of GSAA Home Equity Trust 2006-S1, Mortgage Pass-Through Certificates, Group II, Series 2006-S1.” Funds in the Group II Excess Reserve Fund Account shall be held in trust for the Group II Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Group II Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Class A-1A Certificates, the Excess Reserve Fund Account. The Excess Reserve Fund Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.
(b) On the Closing Date, $5,000 will be deposited by the Seller into the Excess Reserve Fund Account. Thereafter, on any Distribution Date if the Class A-1A Net Funds Cap does not exceed the Class A-1A Pass-Through Rate by at least 0.25%, the amount to be held in the Excess Reserve Fund Account on any Distribution Date thereafter will equal the greater of (i) 0.50% of the outstanding Certificate Principal Balance of the Class A-1A Certificates as of such Distribution Date and (ii) $5,000 and will be funded from amounts distributed pursuant to Section 4.02(b)(xvii). Thereafter, if the Class A-1A Net Funds Cap for any Distribution Date exceeds the Class A-1A Pass-Through Rate for the Class A-1A Certificates on such Distribution Date by 0.25% or more, the Required Excess Reserve Fund Balance for such Distribution Date will be at least $5,000. The amount required to be on deposit in the Excess Reserve Fund Account at any time is referred to herein as the "Required Excess Reserve Fund Balance."
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator as paying agent for the benefit of the Regular Certificateholders and designated “Xxxxx Fargo Bank, N.A. as paying agent in trust for registered holders of HSI Asset Securitization Corporation Trust 2005-NC2, Mortgage Pass-Through Certificates, Series 2005-NC2”. Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.
Excess Reserve Fund Account. The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(d) in the name of the Trustee for the benefit of the Certificateholders and designated “Deutsche Bank National Trust Company in trust for registered holders of IndyMac INDB Mortgage Loan Trust 2006-1.” Funds in the Excess Reserve Fund Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement. The Excess Reserve Fund Account will not be an asset of any REMIC.
Excess Reserve Fund Account. The separate, non-interest bearing Eligible Account created and maintained by the Trustee pursuant to Sections 3.27(a) in the name of the Trustee for the benefit of the Certificateholders and designated “Deutsche Bank National Trust Company in trust for registered Holders of FFMLT 2007-FFB-SS, Mortgage Pass-Through Certificates, Series 2007-FFB-SS.” Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested. Exchange Act: The Securities Exchange Act of 1934, as amended. Expense Fee Rate: As to each Mortgage Loan, a per annum rate equal to the Servicing Fee Rate. Expense Fees: As to each Mortgage Loan, the Servicing Fee.
Excess Reserve Fund Account. The separate, non-interest bearing Eligible Account created and maintained by the Trustee pursuant to Section 3.27(a) in the name of the Trustee for the benefit of the Certificateholders and designated “Deutsche Bank National Trust Company in trust for registered Holders of GSAA Home Equity Trust 2007-S1, Mortgage Pass-Through Certificates, Series 2007-S1.” Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested. Exchange Act: The Securities Exchange Act of 1934, as amended. Expense Fee Rate: As to each Mortgage Loan, a per annum rate equal to the sum of the related Servicing Fee Rate and the Master Servicing Fee Rate.
