Common use of Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests Clause in Contracts

Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests and, subject to Sections 2.01 and 2.02, the delivery to it, or a Custodian on its behalf, of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Trust Fund. Concurrently with such assignment and delivery, and in exchange therefor, the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests by the Trustee to the Depositor and (ii) acknowledges the authentication and delivery of the Class LR Certificates (in respect of the residual interest in the Lower-Tier REMIC) to or upon the order of the Depositor, in exchange for the Majority Mortgage Loans (other than Excess Interest) and the Loan REMIC Regular Interests, receipt of which is hereby acknowledged, and immediately thereafter, the Trustee acknowledges that it has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Uncertificated Lower-Tier Interests, the Regular Certificates, the Class S Certificates and the Class R Certificates, and the Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing the entire beneficial ownership of the Upper-Tier REMIC.

Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests and, subject to Sections 2.01 and 2.02, the delivery to it, or a Custodian on its behalf, of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Trust FundLower-Tier REMIC. Concurrently with such assignment and delivery, and in exchange therefor, the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests by the Trustee Paying Agent to the Depositor and (ii) acknowledges the authentication and delivery of the Class LR Certificates (in respect of by the residual interest in the Lower-Tier REMIC) Paying Agent to or upon the order of the Depositor, in exchange for the Majority Mortgage Loans (other than Excess Interest) and the Loan REMIC Regular InterestsInterest thereon), receipt of which is hereby acknowledged, (ii) acknowledges the assignments to it of the Uncertificated Lower-Tier Interests and the other assets comprising the Upper-Tier REMIC and (iii) immediately thereafter, the Trustee acknowledges that it has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Uncertificated Lower-Tier Interests, the Regular Certificates, Certificates (other than the portion of the Class S NR Certificates evidencing the Excess Interest) and the Class R Certificates, and the Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing the entire beneficial ownership of the Upper-Tier REMIC.

Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests and, subject to Sections 2.01 and 2.02, the delivery to it, it or a Custodian on its behalf, behalf of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Trust Fund. Concurrently with such assignment and delivery, delivery and in exchange therefor, the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests by the Trustee to the Depositor and (ii) acknowledges the authentication and delivery of the Class LR Certificates (in respect of the residual interest in the Lower-Tier REMIC) to or upon the order of the Depositor, in exchange for the Majority Mortgage Loans (other than Excess Interest) and the Loan REMIC Regular Interests), receipt of which is hereby acknowledged, and immediately thereafter, the Trustee acknowledges that it has caused the Certificate Registrar to execute executed and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Uncertificated Lower-Tier Interests, the Regular Certificates, the Class S Certificates and the Class R Certificates, and the Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing the entire beneficial ownership of the Upper-Tier REMIC.. [End of Article II]

Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests Oakmonte Junior Portion, and, subject to Sections 2.01 and 2.02, the delivery to it, it or a Custodian on its behalf, behalf of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase AgreementsAgreement, together with the assignment to it of all of the other assets included in the Trust Fund. Concurrently with such assignment and delivery, delivery and in exchange therefor, the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests by to or upon the Trustee to order of the Depositor and Depositor, (ii) acknowledges and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Upper-Tier REMIC and Holders of the Certificates (other than the Class R-I Certificates), (iii) acknowledges the authentication and delivery of the Class LR R-I Certificates (in respect of the residual interest in the Lower-Tier REMIC) to or upon the order of the Depositor, in exchange for the Majority Mortgage Loans (other than Excess Interest) and the Loan REMIC Regular InterestsLoans, receipt of which is hereby acknowledged, and immediately thereafter, the Trustee acknowledges that it has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Uncertificated Lower-Tier Interests, the Regular Certificates, the Class S Interest Certificates and the Class R R-II Certificates, and the Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations denominations evidencing the entire beneficial ownership of the Upper-Tier REMICREMIC and (iv) acknowledges that it has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Oakmonte Junior Portion, the Class Y Certificates, and the Depositor hereby acknowledges the receipt by it or its assignees, of such Certificates in authorized denominations evidencing the beneficial ownership of the Oakmonte Junior Portion. The Class Y Certificates shall evidence the entire beneficial ownership of the Grantor Trust.

Execution of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests and, subject to Sections 2.01 and 2.02, the delivery to it, it or a Custodian on its behalf, behalf of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Trust Fund. Concurrently with such assignment and delivery, delivery and in exchange therefor, the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests by the Trustee to the Depositor and (ii) acknowledges the authentication and delivery of the Class LR Certificates (in respect of the residual interest in the Lower-Tier REMIC) to or upon the order of the Depositor, in exchange for the Majority Mortgage Loans (other than Excess Interest) and the Loan REMIC Regular Interests), receipt of which is hereby acknowledged, and immediately thereafter, the Trustee acknowledges that it has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, in exchange for the Uncertificated Lower-Tier Interests, the Regular Certificates, the Class S Certificates and the Class R Certificates, and the Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing the entire beneficial ownership of the Upper-Tier REMIC.. [End of Article II]