Common use of Final Maturity Reserve Account Clause in Contracts

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount and Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d).

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount and Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d).

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates and the Class I-A4 Insurer (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. Funds on deposit in the Final Maturity Reserve Account shall be held by the Trustee uninvested. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount and the Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) Upon termination of the Trust Fund, any amounts in the Final Maturity Reserve Account shall be distributed pursuant to the priorities in Section 4.01(d)(iii). (e) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d4.10(e).

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount and Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) Upon termination of the Trust Fund, any amounts in the Final Maturity Reserve Account shall be distributed pursuant to the priorities in Section 4.01(d)(iii). (e) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d).

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “"Final Maturity Reserve Account”"), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount, Group III Final Maturity Reserve Amount and the Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) Upon termination of the Trust Fund, any amounts remaining in the Final Maturity Reserve Account to which the Swap Counterparty is entitled shall be distributed as provided in Section 4.01(d)(iv) and any amounts remaining in the Final Maturity Reserve Account to which the Trust is entitled shall be distributed pursuant to the priorities in Section 4.01(d)(iii). (e) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d4.10(e).

Final Maturity Reserve Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “"Final Maturity Reserve Account”"), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. (b) The Trustee shall deposit into the Final Maturity Reserve Account any Group I Final Maturity Reserve Amount, Group II Final Maturity Reserve Amount and Supplemental Final Maturity Reserve Amount pursuant to Section 4.01. The Trustee shall distribute the funds in the Final Maturity Reserve Account pursuant to Section 4.01(d)(iii). (c) Funds in the Final Maturity Reserve Account shall be held by the Trustee uninvested. The Class C Certificates shall evidence ownership of the Final Maturity Reserve Account for federal income tax purposes. (d) For federal income tax purposes, any Certificateholder that receives a principal payment from the Final Maturity Reserve Account shall be treated as selling a portion of its Certificate to the Holder of the Class C Certificates and as having received the amount of the principal payment from the Holder of the Class C Certificates as the proceeds of the sale. The portion of the Certificate that is treated as having been sold shall equal the amount of the corresponding reduction in the Certificate Principal Balance of such Certificate. Principal payments received from the Final Maturity Reserve Account shall not be treated as distributions from any REMIC created hereby. All principal distributions from the Final Maturity Reserve Account shall be accounted for hereunder in accordance with this Section 4.10(d).