Common use of Interest Rate Cap Collateral Account Clause in Contracts

Interest Rate Cap Collateral Account. In the event that pursuant to the terms of a potential future interest rate cap agreement, the potential future cap counterparty is required to deposit cash or securities as collateral to secure its obligations (“Interest Rate Cap Collateral”), the Indenture Trustee at the written direction of the potential future cap counterparty shall establish and maintain an Eligible Account in the name of the Indenture Trustee for the benefit of the Issuer and the potential future cap counterparty (an “Interest Rate Cap Agreement Collateral Account”). All sums on deposit and securities held in any Interest Rate Cap Agreement Collateral Account shall be used only for the purposes set forth in the related credit support agreement to be entered into between the Trust and the potential future cap counterparty (the “Interest Rate Cap Credit Support Agreement”); provided, however, that the Indenture Trustee is not a party to the Interest Rate Cap Credit Support Agreement and shall have no obligations or responsibilities under the Interest Rate Cap Credit Support Agreement, nor any obligation to monitor the Issuer’s or the potential future cap counterparty’s compliance with the terms of the Interest Rate Cap Credit Support Agreement. Amounts on deposit in any Interest Rate Cap Agreement Collateral Account may be invested in Eligible Investments at the written direction of the potential future cap counterparty and on each Distribution Date, all Investment Earnings actually received by the Indenture Trustee on amounts on deposit in the Interest Rate Cap Agreement Collateral Account or on securities held by the Indenture Trustee as Interest Rate Cap Collateral shall be paid directly to the potential future cap counterparty and not become part of Available Funds in accordance with the terms of the Interest Rate Cap Credit Support Agreement. The Indenture Trustee shall not be liable for any losses on investments made in accordance with the potential future cap counterparty’s direction. All amounts deposited in the Interest Rate Cap Agreement Collateral Account shall be paid to the Issuer (and become part of Available Funds on the related Distribution Date) or returned to the related potential future cap counterparty (in either case, upon receipt by the Indenture Trustee of written instructions from the Administrator to release the amounts on deposit) in accordance with the provisions set forth in the related Interest Rate Cap Credit Support Agreement.]

Interest Rate Cap Collateral Account. In the event that pursuant to the terms of a potential future the interest rate cap agreement, the potential future cap counterparty is required to deposit cash or securities as collateral to secure its obligations (“Interest Rate Cap Collateral”), the Indenture Trustee at the written direction of the potential future cap counterparty shall establish and maintain an Eligible Account in the name of the Indenture Trustee for the benefit of the Issuer and the potential future cap counterparty (an “Interest Rate Cap Agreement Collateral Account”). All sums on deposit and securities held in any Interest Rate Cap Agreement Collateral Account shall be used only for the purposes set forth in the related credit support agreement to be entered into between the Trust and the potential future cap counterparty (the “Interest Rate Cap Credit Support Agreement”); provided, however, that the Indenture Trustee is not a party to the Interest Rate Cap Credit Support Agreement and shall have no obligations or responsibilities under the Interest Rate Cap Credit Support Agreement, nor any obligation to monitor the Issuer’s or the potential future cap counterparty’s compliance with the terms of the Interest Rate Cap Credit Support Agreement. Amounts on deposit in any Interest Rate Cap Agreement Collateral Account may be invested in Eligible Investments at the written direction of the potential future cap counterparty and on each Distribution Payment Date, all Investment Earnings actually received by the Indenture Trustee on amounts on deposit in the Interest Rate Cap Agreement Collateral Account or on securities held by the Indenture Trustee as Interest Rate Cap Collateral shall be paid directly to the potential future cap counterparty and not become part of Available Funds in accordance with the terms of the Interest Rate Cap Credit Support Agreement. The Indenture Trustee shall not be liable for any losses on investments made in accordance with the potential future cap counterparty’s direction. All amounts deposited in the Interest Rate Cap Agreement Collateral Account shall be paid to the Issuer (and become part of Available Funds on the related Distribution Payment Date) or returned to the related potential future cap counterparty (in either case, upon receipt by the Indenture Trustee of written instructions from the Administrator to release the amounts on deposit) in accordance with the provisions set forth in the related Interest Rate Cap Credit Support Agreement.]

Interest Rate Cap Collateral Account. In The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the event that pursuant to the terms of a potential future interest rate cap agreement, the potential future cap counterparty is required to deposit cash or securities as collateral to secure its obligations (“Interest Rate Cap Collateral”), the Indenture Trustee at the written direction of the potential future cap counterparty shall establish and maintain an Eligible Account in the name of the Indenture Trustee for the benefit of the Issuer and the potential future cap counterparty (an “Interest Rate Cap Agreement Collateral Account”). All sums on deposit and securities held in any Interest Rate Cap Agreement Collateral Account shall be used only for the purposes set forth in the related credit support agreement to be entered into between the Trust and the potential future cap counterparty (the “Interest Rate Cap Credit Support Agreement”); provided, however, that the Indenture Trustee is not a party to the Interest Rate Cap Credit Support Agreement and shall have no obligations or responsibilities Custodian as defined under the Interest Rate Cap Credit Support AgreementAnnex (the “Interest Rate Cap Custodian”). On or before the Closing Date, nor any obligation to monitor the Issuer’s or Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the potential future cap counterparty’s compliance with the terms name of the Interest Rate Cap Credit Support AgreementCustodian in trust for the benefit of the Certificateholders. Amounts on deposit in any The Interest Rate Cap Agreement Collateral Account may must be invested in an Eligible Investments at the written direction Account and shall be titled “Interest Rate Cap Collateral Account, Citibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of the potential future cap counterparty and on each Distribution DateCitigroup Mortgage Loan Trust 2007-AMC3, all Investment Earnings actually received by the Indenture Trustee on amounts on deposit in Asset-Backed Pass-Through Certificates, Series 2007-AMC3.” The Interest Rate Cap Custodian shall credit to the Interest Rate Cap Agreement Collateral Account all collateral (whether in the form of cash or on securities held securities) posted by the Indenture Trustee as Interest Rate Cap Collateral shall be paid directly Provider to secure the potential future cap counterparty and not become part obligations of Available Funds the Interest Rate Cap Provider in accordance with the terms of the Interest Rate Cap Credit Support Agreement. The Indenture Trustee Except for investment earnings, the Interest Rate Cap Provider shall not be liable for have any losses on investments made in accordance with the potential future cap counterparty’s direction. All amounts deposited legal, equitable or beneficial interest in the Interest Rate Cap Agreement Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement, and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with the Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be paid invested at the written direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Issuer Interest Rate Cap Provider. In no event shall the Interest Rate Cap Custodian be liable for the selection of Permitted Investments or for investment losses incurred thereon. The Interest Rate Cap Custodian shall have no liability in respect of losses incurred as a result of the liquidation of any Permitted Investments prior to its stated maturity or failure of the Interest Rate Cap Provider to provide timely written direction. Upon the occurrence of an Event of Default or Specified Condition (and become part of Available Funds on each as defined in the related Distribution DateInterest Rate Cap Agreement) or returned with respect to the related potential future cap counterparty Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, upon receipt unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Indenture Trustee Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of written instructions from any Obligations due to Party B (as defined in the Administrator to release the amounts on depositInterest Rate Cap Agreement) in accordance with the provisions set forth in the related Interest Rate Cap Credit Support AgreementAnnex. Any excess amounts held in such Interest Rate Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Interest Rate Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.]

Interest Rate Cap Collateral Account. In The Trustee (in its capacity as Cap Trustee) is hereby directed to perform the event that pursuant to the terms of a potential future interest rate cap agreement, the potential future cap counterparty is required to deposit cash or securities as collateral to secure its obligations (“Interest Rate Cap Collateral”), the Indenture Trustee at the written direction of the potential future cap counterparty shall establish and maintain an Eligible Account in the name of the Indenture Trustee for the benefit of the Issuer and the potential future cap counterparty (an “Interest Rate Cap Agreement Collateral Account”). All sums on deposit and securities held in any Interest Rate Cap Agreement Collateral Account shall be used only for the purposes set forth in the related credit support agreement to be entered into between the Trust and the potential future cap counterparty (the “Interest Rate Cap Credit Support Agreement”); provided, however, that the Indenture Trustee is not a party to the Interest Rate Cap Credit Support Agreement and shall have no obligations or responsibilities Custodian as defined under the Interest Rate Cap Credit Support AgreementAnnex (the “Interest Rate Cap Custodian”). On or before the Closing Date, nor any obligation to monitor the Issuer’s or Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the potential future cap counterparty’s compliance with the terms name of the Interest Rate Cap Credit Support AgreementCustodian in trust for the benefit of the Certificateholders. Amounts on deposit in any The Interest Rate Cap Agreement Collateral Account may must be invested an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Citibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed Pass-Through Certificates, Series 2007-WFHE2.” The Interest Rate Cap Custodian shall credit to Interest Rate Cap Collateral Account all collateral (whether in Eligible Investments at the written direction form of the potential future cap counterparty and on each Distribution Date, all Investment Earnings actually received cash or securities) posted by the Indenture Trustee on amounts on deposit in the Interest Rate Cap Agreement Collateral Account or on securities held by Provider to secure the Indenture Trustee as obligations of the Interest Rate Cap Collateral shall be paid directly to the potential future cap counterparty and not become part of Available Funds Provider in accordance with the terms of the Interest Rate Cap Credit Support Agreement. The Indenture Trustee Except for investment earnings, the Interest Rate Cap Provider shall not be liable for have any losses on investments made in accordance with the potential future cap counterparty’s direction. All amounts deposited legal, equitable or beneficial interest in the Interest Rate Cap Agreement Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be paid invested at the direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Issuer Interest Rate Cap Provider. Upon the occurrence of an Event of Default or Specified Condition (and become part of Available Funds on each as defined in the related Distribution DateInterest Rate Cap Agreement) or returned with respect to the related potential future cap counterparty Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, upon receipt unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Indenture Trustee Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of written instructions from any Obligations due to Party B (as defined in the Administrator to release the amounts on depositInterest Rate Cap Agreement) in accordance with the provisions set forth in the related Interest Rate Cap Credit Support AgreementAnnex. Any excess amounts held in such Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.]

Interest Rate Cap Collateral Account. In The Trust Administrator (in its capacity as Cap Trustee) is hereby directed to perform the event that pursuant to the terms of a potential future interest rate cap agreement, the potential future cap counterparty is required to deposit cash or securities as collateral to secure its obligations (“Interest Rate Cap Collateral”), the Indenture Trustee at the written direction of the potential future cap counterparty shall establish and maintain an Eligible Account in the name of the Indenture Trustee for the benefit of the Issuer and the potential future cap counterparty (an “Interest Rate Cap Agreement Collateral Account”). All sums on deposit and securities held in any Interest Rate Cap Agreement Collateral Account shall be used only for the purposes set forth in the related credit support agreement to be entered into between the Trust and the potential future cap counterparty (the “Interest Rate Cap Credit Support Agreement”); provided, however, that the Indenture Trustee is not a party to the Interest Rate Cap Credit Support Agreement and shall have no obligations or responsibilities Custodian as defined under the Interest Rate Cap Credit Support AgreementAnnex (the “Interest Rate Cap Custodian”). On or before the Closing Date, nor any obligation to monitor the Issuer’s or Interest Rate Cap Custodian shall establish an Interest Rate Cap Collateral Account. The Interest Rate Cap Collateral Account shall be held in the potential future cap counterparty’s compliance with the terms name of the Interest Rate Cap Credit Support AgreementCustodian in trust for the benefit of the Certificateholders. Amounts on deposit in any The Interest Rate Cap Agreement Collateral Account may must be invested an Eligible Account and shall be titled “Interest Rate Cap Collateral Account, Citibank, N.A., as Interest Rate Cap Custodian for registered Certificateholders of Citigroup Mortgage Loan Trust 2007-WFHE1, Asset-Backed Pass-Through Certificates, Series 2007-WFHE1.” The Interest Rate Cap Custodian shall credit to Interest Rate Cap Collateral Account all collateral (whether in Eligible Investments at the written direction form of the potential future cap counterparty and on each Distribution Date, all Investment Earnings actually received cash or securities) posted by the Indenture Trustee on amounts on deposit in the Interest Rate Cap Agreement Collateral Account or on securities held by Provider to secure the Indenture Trustee as obligations of the Interest Rate Cap Collateral shall be paid directly to the potential future cap counterparty and not become part of Available Funds Provider in accordance with the terms of the Interest Rate Cap Credit Support Agreement. The Indenture Trustee Except for investment earnings, the Interest Rate Cap Provider shall not be liable for have any losses on investments made in accordance with the potential future cap counterparty’s direction. All amounts deposited legal, equitable or beneficial interest in the Interest Rate Cap Agreement Collateral Account other than in accordance with this Agreement, the Interest Rate Cap Agreement and applicable law. The Interest Rate Cap Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Interest Rate Cap Collateral Account in accordance with Interest Rate Cap Credit Support Annex. Cash collateral posted by the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be paid invested at the direction of the Interest Rate Cap Provider in Permitted Investments in accordance with the requirements of the Interest Rate Cap Credit Support Annex. All amounts earned on amounts on deposit in the Interest Rate Cap Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to the Issuer Interest Rate Cap Provider. If no investment direction is provided, such amounts shall remain uninvested. Upon the occurrence of an Event of Default or Specified Condition (and become part of Available Funds on each as defined in the related Distribution DateInterest Rate Cap Agreement) or returned with respect to the related potential future cap counterparty Interest Rate Cap Provider or upon occurrence or designation of an Early Termination Date (as defined in the Interest Rate Cap Agreement) as a result of any such Event of Default or Specified Condition with respect to the Interest Rate Cap Provider, and, in either such case, upon receipt unless the Interest Rate Cap Provider has paid in full all of its Obligations (as defined in the Interest Rate Cap Credit Support Annex) that are then due, then any collateral posted by the Indenture Trustee Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex shall be applied to the payment of written instructions from any Obligations due to Party B (as defined in the Administrator to release the amounts on depositInterest Rate Cap Agreement) in accordance with the provisions set forth in the related Interest Rate Cap Credit Support AgreementAnnex. Any excess amounts held in such Cap Collateral Account after payment of all amounts owing to Party B under the Interest Rate Cap Agreement shall be withdrawn from the Cap Collateral Account and paid to the Interest Rate Cap Provider in accordance with the Interest Rate Cap Credit Support Annex.]