Common use of Exchanges Clause in Contracts

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 8 contracts

Samples: Exchange Trust Agreement (Lehman Mortgage Trust 2007-7), Exchange Trust Agreement (Lehman Mortgage Trust 2006-8), Exchange Trust Agreement (Lehman XS Trust Series 2007-18n)

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Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.xxx@xxxxxxxxxx.xxx or xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Principal Amount and the Original Certificate Balance or Notional Principal Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 8 contracts

Samples: Trust Agreement (J.P. Morgan Mortgage Trust 2007-A4), Trust Agreement (J.P. Morgan Mortgage Trust 2007-S1), Trust Agreement (J.P. Morgan Mortgage Trust 2007-A4)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable Initial Certificates, and Exchangeable Initial Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Paying Agent substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case Each Class of each Combination Group, Exchange Exchangeable Initial Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Outstanding Certificate Principal Balances of such Exchange Exchangeable Initial Certificates bear to the original Original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable Initial Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group related Exchangeable Initial Certificates in respective denominations determined based on the proportion that the initial Outstanding Certificate Principal Balances of such Exchangeable Initial Certificates bear to the original Original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in this Trust Agreement, no fee or other charge shall be payable to the Trustee Trustee, the Paying Agent or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice notify the current relationship manager or administrator at the Paying Agent listed on the most recent report to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx Certificateholders no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteePaying Agent’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding the Outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Paying Agent shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $4,000 shall be payable to the Trustee Paying Agent in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Paying Agent shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable Initial Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 7 contracts

Samples: Trust Agreement (ChaseFlex Trust Series 2007-1), Trust Agreement (Chase Mortgage Finance Trust Series 2007-A3), Trust Agreement (Chase Mortgage Finance Trust Series 2007-S6)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@xxxxxxxxxx.xxx and Xxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 5 contracts

Samples: Exchange Trust Agreement (Lehman Mortgage Trust 2007-9), Exchange Trust Agreement (Lehman Mortgage Trust 2006-9), Exchange Trust Agreement (Lehman Mortgage Trust 2007-4)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable Initial Certificates, and Exchangeable Initial Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Paying Agent substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case Each Class of each Combination Group, Exchange Exchangeable Initial Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Outstanding Certificate Principal Balances of such Exchange Exchangeable Initial Certificates bear to the original Original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable Initial Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group related Exchangeable Initial Certificates in respective denominations determined based on the proportion that the initial Outstanding Certificate Principal Balances of such Exchangeable Initial Certificates bear to the original Original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in this Trust Agreement, no fee or other charge shall be payable to the Trustee Trustee, the Paying Agent or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice notify the current relationship manager or administrator at the Paying Agent listed on the most recent report to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx Certificateholders no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the Trustee’s Paying Agent's approval. The notice must be on the Certificateholder’s 's letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding the Outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s 's DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Paying Agent shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $4,000 shall be payable to the Trustee Paying Agent in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Paying Agent shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable Initial Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 5 contracts

Samples: Trust Agreement (Chase Mortgage Finance Trust Series 2007-S3), Trust Agreement (Chase Mortgage Finance Trust Series 2006-S4), Trust Agreement (Chase Mortgage Finance Trust Series 2007-A1)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit II hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both each Certificates to be exchanged and each Certificates to be received; outstanding Certificate Principal Balance or Notional Amount Amount, as applicable, and the Original Certificate Principal Balance or Notional Amount Amount, as applicable, of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 4 contracts

Samples: Trust Agreement (CSMC Mortgage-Backed Trust 2007-3), Trust Agreement (CSMC Mortgage-Backed Trust 2007-5), Trust Agreement (CSMC Mortgage-Backed Trust 2007-5)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto and under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates each Certificate to be exchanged and Certificates each Certificate to be received; outstanding Certificate Balance or Notional Amount Amount, as applicable, and the Original original Certificate Balance or Notional Amount Amount, as applicable, of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 4 contracts

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-9f), Trust Agreement (GSR Mortgage Loan Trust 2007-4f), Trust Agreement (GSR Mortgage Loan Trust 2007-1f)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxx.xxxxxxx@xxxxxxxxxx.xxx or xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Principal Amount and the Original Certificate Balance or Notional Principal Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 3 contracts

Samples: Trust Agreement (J.P. Morgan Mortgage Trust 2007-S3), Trust Agreement (J.P. Morgan Mortgage Trust 2007-S3), Trust Agreement (J.P. Morgan Mortgage Trust 2007-S3)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee Securities Administrator and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@xxxxxxxxxx.xxx and Xxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange request. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 3 contracts

Samples: Exchange Trust Agreement (Lehman Mortgage Trust 2006-7), Exchange Trust Agreement (Lehman Mortgage Trust 2006-6), Exchange Trust Agreement (Lehman Mortgage Trust 2007-10)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing DateDate and on or before the distribution Date in February 2009, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) in writing or Securities Administrator by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates each Certificate to be exchanged and Certificates each Certificate to be received; outstanding Certificate Balance Principal Balances or Notional Amount notional amount, as applicable and the Original Certificate Balance or Notional Amount Denominations of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $3,500 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 3 contracts

Samples: Trust Agreement (J.P. Morgan Alternative Loan Trust 2007-A1), Trust Agreement (J.P. Morgan Mortgage Trust 2007-A2), Trust Agreement (J.P. Morgan Alternative Loan Trust 2007-A1)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit II hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both each Certificates to be exchanged and each Certificates to be received; outstanding Certificate Principal Balance or Notional Amount Amount, as applicable, and the Original Certificate Principal Balance or Notional Amount Amount, as applicable, of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchangerelated Record Date.

Appears in 3 contracts

Samples: Trust Agreement (CSMC Mortgage Backed Trust Series 2007-1), Trust Agreement (CSMC Mortgage-Backed Trust 2007-2), Trust Agreement (CSMC Mortgage-Backed Trust 2006-7)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCfor Exchange Certificates, as specified in Exhibit B, and Exchange Certificates shall be exchangeable for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Date under the terms and conditions hereinafter set forth. In the case of each Combination Certificate Group, Exchange Certificates of the classes of Exchangeable Certificates in such Combination Certificate Group shall be exchangeable for Exchangeable Certificates related to of the classes of Exchange Certificates in such Combination Certificate Group in the respective denominations and combinations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear pursuant to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Exhibit B. Upon any such exchange exchange, the portions of the Exchange Exchangeable Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificate or Certificates issued in exchange therefortherefore. Correspondingly, Exchangeable Exchange Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes classes of Exchangeable Certificates in such Combination the same Certificate Group in the respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as and combinations set forth in Appendix A. Exhibit B. There shall will be no limitation on the number of any exchanges authorized pursuant to this Section 2.034.05, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee or DTC Securities Administrator in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.x.xxxxxx@xxxxxxxxxx.xxx or xxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s Certificateholders letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s Certificateholders DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $25,000. The Trustee shall Securities Administrator will make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 3 contracts

Samples: Trust Agreement (GSR Mortgage Loan Trust 2005-9f), Trust Agreement (GSR Mortgage Loan Trust 2005-9f), Trust Agreement (Structured Asset Securities Corp)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCfor Exchange Certificates, as specified in Exhibit B, and Exchange Certificates shall be exchangeable for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Date under the terms and conditions hereinafter set forth. In the case of each Combination Certificate Group, Exchange Certificates of the Classes of Exchangeable Certificates in such Combination Certificate Group shall be exchangeable for Exchangeable Certificates related to of the Classes of Exchange Certificates in such Combination Certificate Group in the respective denominations and combinations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear pursuant to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Exhibit B. Upon any such exchange exchange, the portions of the Exchange Exchangeable Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificate or Certificates issued in exchange therefortherefore. Correspondingly, Exchangeable Exchange Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes of Exchangeable Certificates in such Combination the same Certificate Group in the respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as and combinations set forth in Appendix A. Exhibit B. There shall be no limitation on the number of any exchanges authorized pursuant to this Section 2.034.05, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee or DTC Securities Administrator in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.x.xxxxxx@xxxxxxxxxx.xxx or xxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s Certificateholders letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s Certificateholders DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $25,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-2f), Trust Agreement (GSR Mortgage Loan Trust 2006-1f)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificates issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (MASTR Alternative Loan Trust 2006-3), Trust Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.x.xxxxxx@xxxxxxxxxx.xxx or xxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $5,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-7f), Trust Agreement (GSR Mortgage Loan Trust 2006-6f)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of The Depository Trust Company (“DTC”) for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit II hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance or Notional Amount, as applicable, of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances or Notional Amount, as applicable, of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following two paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxx.xxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (JPMMT 2007-A6), Trust Agreement (JPMMT 2007-A6)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing DateDate and on or before the Distribution Date in May 2009, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxx.xxxxxxx@xxxxxxxxxx.xxx or xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates each Certificate to be exchanged and Certificates each Certificate to be received; outstanding Certificate Balance or Notional Principal Amount and the Original Certificate Balance or Notional Principal Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $3,500 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (J.P. Morgan Alternative Loan Trust 2007-A2), Trust Agreement (J.P. Morgan Alternative Loan Trust 2007-A2)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of The Depository Trust Company (“DTC”) for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following two paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxx.xxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Principal Amount and the Original Certificate Balance or Notional Principal Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 2 contracts

Samples: Trust Agreement (J.P. Morgan Mortgage Trust 2007-A5), Trust Agreement (J.P. Morgan Mortgage Trust 2007-A5)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxx.xxxxxx@xxxxxxx.xxx and xxxxxxxxxxxxx@xxxxxxx.xxx or by phone at (000) 000-0000 no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Exchange Trust Agreement (Lehman XS Trust 2007-5h)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCfor Exchange Certificates, as specified in Exhibit B, and Exchange Certificates shall be exchangeable for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Date under the terms and conditions hereinafter set forth. In the case of each Combination Certificate Group, Exchange Certificates of the Classes of Exchangeable Certificates in such Combination Certificate Group shall be exchangeable for Exchangeable Certificates related to of the Classes of Exchange Certificates in such Combination Certificate Group in the respective denominations and combinations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear pursuant to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Exhibit B. Upon any such exchange exchange, the portions of the Exchange Exchangeable Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificate or Certificates issued in exchange therefortherefore. Correspondingly, Exchangeable Exchange Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes of Exchangeable Certificates in such Combination the same Certificate Group in the respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as and combinations set forth in Appendix A. Exhibit B. There shall be no limitation on the number of any exchanges authorized pursuant to this Section 2.034.05, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee or DTC Securities Administrator in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail email at xxxxxxxxxxx@xxxxxx.xxx [ ] no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the Trustee’s Securities Administrator's approval. The notice must be on the Certificateholder’s Certificateholders letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s Certificateholders DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to [1/32 of 1%] of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request[ ] or greater than $[ ]. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (Gs Mortgage Securities Corp)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@xxxxxxxxxx.xxx and Xxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Exchange Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2008-1)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxx.xx@xxxxxxxx.xxx, xxxx.xxxxxxx.xxxxxxxx@xxxxx.xxx and Xxxxxxx.Xxxxxxx@xxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange request2,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR 2006-4f)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCfor Exchange Certificates, as specified in Exhibit B, and Exchange Certificates shall be exchangeable for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Date under the terms and conditions hereinafter set forth. In the case of each Combination Certificate Group, Exchange Certificates of the Classes of Exchangeable Certificates in such Combination Certificate Group shall be exchangeable for Exchangeable Certificates related to of the Classes of Exchange Certificates in such Combination Certificate Group in the respective denominations and combinations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear pursuant to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Exhibit B. Upon any such exchange exchange, the portions of the Exchange Exchangeable Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificate or Certificates issued in exchange therefortherefore. Correspondingly, Exchangeable Exchange Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes of Exchangeable Certificates in such Combination the same Certificate Group in the respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as and combinations set forth in Appendix A. Exhibit B. There shall be no limitation on the number of any exchanges authorized pursuant to this Section 2.034.05, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee or DTC Securities Administrator in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail email at xxxxxxxxxxx@xxxxxx.xxx [ ] no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s Certificateholders letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to [1/32 of 1%] of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request[ ] or greater than $[ ]. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (Gs Mortgage Securities Corp)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificates issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to any certificates other than the Class 2-A-10, Class 2-A-11, Class 2-A-12, Class 2-A-13 and the Class 2-A-15 certificates may be any Business Day from business day other than the first or last business day of the month, subject to the trust administrator’s approval. The exchange date with respect to the Class 2-A-10, Class 2-A-11, Class 2-A-12, Class 2-A-13 and the Class 2-A-15 certificates may be any business day between and including the 25th day of the month to through the second business day prior to the last Business Day business day of the month month, subject to the Trusteetrust administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (MASTR Alternative Loan Trust 2007-1)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of The Depository Trust Company (“DTC”) for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit II hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance or Notional Amount, as applicable, of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances or Notional Amount, as applicable, of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following two paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxx.xxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $3,500 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (J.P. Morgan Mortgage Trust 2007-A2)

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Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.x.xxxxxx@xxxxxxxxxx.xxx or xxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $25,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-3f)

Exchanges. (a) Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit M hereto or, under the terms and conditions hereinafter set forth. In forth and otherwise in accordance with the case procedures specified in this Agreement. (b) Certificates of each Combination Group, Exchange the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, Balance as set forth in Appendix A. Exhibit L. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. Exhibit L. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.0311.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice . (as described in the immediately succeeding paragraphc) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both each Certificates to be exchanged and each Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. . (d) Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange request. exchange. (e) The Trustee Trust Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (CSMC Trust 2007-5r)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable Certificates, and Exchangeable Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Certificate Group, Certificates of the Classes of Exchange Certificates in such Combination Certificate Group shall be exchangeable for Certificates of the Class of Exchangeable Certificates related to in such Combination Certificate Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificate or Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination the same Certificate Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder 1/32 of record as 1% of the close of business on the last day Certificate Balance of the month of the exchangeCertificates to be submitted for exchange (but not less than $2,000 nor more than $25,000).

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-2f)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto and under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances or initial Notional Amounts, as applicable, of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx cxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates each Certificate to be exchanged and Certificates each Certificate to be received; outstanding Certificate Balance or Notional Amount Amount, as applicable, and the Original original Certificate Balance or Notional Amount Amount, as applicable, of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2007-2f)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.x.xxxxxx@xxxxxxxxxx.xxx or xxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $25,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR 2006-5f)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Exchange Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2008-2)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination GroupExchange Option, Exchange Certificates in such Combination Group Exchange Option shall be exchangeable for Exchangeable Certificates related to such Combination Group Exchange Option in respective denominations determined based on the proportion that the initial Certificate Principal Balances Amount of such Exchange Certificates bear bears to the original Certificate Principal Balances Amount (or original Notional Amount in the case of Notional Exchangeable Classes) of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group an Exchange Option may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group Exchange Option in the respective denominations determined based on the proportion that the initial Certificate Principal Balances Amount (or initial Notional Amount in the case of Notional Exchangeable Classes) of such Exchangeable Certificates bear to the original Certificate Principal Balances Amount of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@xxxxxxxxxx.xxx and Xxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance Principal Amount or Notional Amount and the Original original Certificate Balance Principal Amount or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Exchange Trust Agreement (BNC CORP Mortgage Loan Trust 2007-Bnc4)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxx.xxx@xxxxxxxxxx.xxx or xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates, other than the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, may be any Business Day from other than the first or last Business Day of the month subject to the Trust Administrator’s approval. The exchange date with respect to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates may be any Business Day between and including the 25th day of the month to through the second Business Day prior to the last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (MASTR Asset Securitization Trust 2006-2)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificates issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates, other than the Class 1-A-11 Certificates and the Class 2-A-5 Certificates, may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The exchange date with respect to the Class 1-A-11 Certificates and the Class 2-A-5 Certificates may be any business day between and including the 25th day of the month through the business day prior to the last business day of the month, subject to the trust administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (MASTR Asset Securitization Trust 2006-3)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCfor Exchange Certificates, as specified in Exhibit B, and Exchange Certificates shall be exchangeable for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Date under the terms and conditions hereinafter set forth. In the case of each Combination Certificate Group, Exchange Certificates of the Classes of Exchangeable Certificates in such Combination Certificate Group shall be exchangeable for Exchangeable Certificates related to of the Classes of Exchange Certificates in such Combination Certificate Group in the respective denominations and combinations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear pursuant to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Exhibit B. Upon any such exchange exchange, the portions of the Exchange Exchangeable Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificate or Certificates issued in exchange therefortherefore. Correspondingly, Exchangeable Exchange Certificates related to included in a Combination Certificate Group may be further designated for exchange for Certificates of the Exchange Classes of Exchangeable Certificates in such Combination the same Certificate Group in the respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as and combinations set forth in Appendix A. Exhibit B. There shall be no limitation on the number of any exchanges authorized pursuant to this Section 2.034.05, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee or DTC Securities Administrator in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx or no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s Certificateholders letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s Certificateholders DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $25,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-2f)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee Securities Administrator and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@xxxxxxxxxx.xxx and Xxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange request. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange. Notwithstanding anything to the contrary provided herein, exchanges with respect to Certificates in Special Combinations shall be made on the basis of the current balances of such Certificates and the Related REMIC Classes.

Appears in 1 contract

Samples: Exchange Trust Agreement (Lehman Mortgage Trust 2006-5)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing DateDate and on or before the Distribution Date in January 2009, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) in writing or Securities Administrator by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates each Certificate to be exchanged and Certificates each Certificate to be received; outstanding Certificate Balance Principal Balances or Notional Amount notional amount, as applicable and the Original Certificate Balance or Notional Amount Denominations of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $3,500 shall be payable to the Trustee Securities Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Securities Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (J.P. Morgan Mortgage Trust 2007-A1)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit II hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Exchange Certificates issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraphs, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to any certificates may be any Business Day from and including business day other than the 25th first or last business day of the month to the second to the last Business Day of the month month, subject to the Trusteetrust administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Principal Balance or Notional Amount and the Original Certificate Principal Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (MASTR Asset Securitization Trust 2007-1)

Exchanges. Certificates shall be exchangeable on the books of DTC, on and after the Closing Date, by notice to the Trustee and under the terms and conditions hereinafter set forth. In the case of each Combination Group, Exchange Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Certificates bear to the original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth below, no fee or other charge shall be payable to the Trustee or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to the Trustee (substantially in the form of Exhibit I hereto) in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx . X. Xxxx@wxxxxxxxxx.xxx and Sxxxx.Xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the Trustee’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee in connection with each exchange equal to $5,000 for each exchange request. The Trustee shall make the first distribution on an Exchange Certificate or an Exchangeable Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Exchange Trust Agreement (Lehman Mortgage Trust 2007-5)

Exchanges. Exchangeable Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchangeable Certificates, on and after the Closing Date, by notice to the Trustee and Trust Administrator substantially in the form of Exhibit I hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Pooling and Servicing Agreement. In Certificates of the case Classes of each Combination Group, Exchange Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for the related Class of Exchangeable Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Certificate issued in exchange therefor. Correspondingly, Exchangeable Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange related Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Exchangeable Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Trust Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Trust Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date with respect to the Certificates may be any Business Day from and including other than the 25th day of the month to the second to the first or last Business Day of the month subject to the TrusteeTrust Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both each Certificates to be exchanged and each Certificates to be received; outstanding Certificate Balance or Notional Principal Amount and the Original Certificate Balance or Notional Principal Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Trust Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee of $5,000 shall be payable to the Trustee Trust Administrator in connection with each exchange equal to $5,000 for each exchange requestexchange. The Trustee Trust Administrator shall make the first distribution on an Exchange Exchangeable Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the month following the month of the exchange to the Certificateholder of record as of the close of business on the last day of the month of the exchangerelated Record Date.

Appears in 1 contract

Samples: Trust Agreement (CSMC Mortgage-Backed Trust 2006-7)

Exchanges. Exchange Certificates shall be exchangeable on the books of DTCDTC for Exchangeable REMIC Certificates, and Exchangeable REMIC Certificates shall be exchangeable on the books of DTC for Exchange Certificates, on and after the Closing Date, by notice to the Trustee and Securities Administrator substantially in the form of Exhibit I-1 or Exhibit I-2 hereto or, under the terms and conditions hereinafter set forthforth and otherwise in accordance with the procedures specified in the Underlying Trust Agreement. In the case of each Combination Group, Exchange Certificates of the Classes of Exchangeable REMIC Certificates in such Combination Group shall be exchangeable for Exchangeable Certificates of the Class of Exchange Certificates related to such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchange Exchangeable REMIC Certificates bear to the original Certificate Principal Balances Balance of the related Exchangeable Exchange Certificates, as set forth in Appendix A. Upon any such exchange the portions of the Exchange Exchangeable REMIC Certificates designated for exchange shall be deemed cancelled and replaced by the Exchangeable Certificates Exchange Certificate issued in exchange therefor. Correspondingly, Exchangeable Exchange Certificates related to a Combination Group may be further designated for exchange for Certificates of the Exchange Exchangeable REMIC Classes in such Combination Group in respective denominations determined based on the proportion that the initial Certificate Principal Balances of such Exchangeable REMIC Certificates bear to the original Certificate Principal Balances of the related Exchange Certificates, as set forth in Appendix A. There shall be no limitation on the number of exchanges authorized pursuant to this Section 2.03, and, except as set forth belowprovided in the following paragraph, no fee or other charge shall be payable to the Trustee Trustee, the Securities Administrator or DTC in connection therewith. Upon the presentation and surrender by any Holder of its Certificates in the appropriate combination as set forth on Appendix A, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to such Certificates, including all payments of interest thereon received after the month of the date specified in the notice (as described in the immediately succeeding paragraph) relating to such exchange. In order to effect an exchange of Certificates, the Certificateholder shall provide notice to notify the Trustee (substantially in the form of Exhibit I hereto) Securities Administrator in writing or by e-mail at xxxxxxxxxxx@xxxxxx.xxx sxxxxx.x.xxxxxx@wxxxxxxxxx.xxx or sxxx.xxxxxxx@xxxxxxxxxx.xxx no later than two Business Days before the proposed exchange date. The exchange date may be any Business Day from and including the 25th day of the month to the second to the last Business Day of the month subject to the TrusteeSecurities Administrator’s approval. The notice must be on the Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth the following information: the CUSIP number of both Certificates to be exchanged and Certificates to be received; outstanding Certificate Balance or Notional Amount and the Original Certificate Balance or Notional Amount of the Certificates to be exchanged; the Certificateholder’s DTC participant number; and the proposed exchange date. After receiving the notice, the Trustee Securities Administrator shall e-mail the Certificateholder with wire payment instructions relating to the exchange fee. A notice becomes irrevocable on the second Business Day before the proposed exchange date. Notwithstanding any other provision herein set forth, a fee shall be payable to the Trustee Securities Administrator in connection with each exchange equal to 1/32 of 1% of the Certificate Balance (or the notional amount, if no principal balance) of the Certificates (other than any Interest Only Certificates) to be exchanged. In no event, however, shall the fee be less than $5,000 for each exchange request2,000 or greater than $5,000. The Trustee Securities Administrator shall make the first distribution on an Exchange Certificate or an Exchangeable REMIC Certificate received in an exchange transaction on the Distribution Date in the following month to the Certificateholder of record as of the close of business on the last day of the month of the exchange.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-8f)

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