Common use of Liquidation Reserve Fund Clause in Contracts

Liquidation Reserve Fund. (a) On the Closing Date, the Trust Administrator shall establish an account (the “Liquidation Reserve Fund”), which shall be an Eligible Account. The Liquidation Reserve Fund shall be entitled “Liquidation Reserve Fund, Xxxxx Fargo Bank, N.A, as Trust Administrator on behalf of U.S. Bank, as Trustee for the benefit of the holders of the CSMC 2007-1 Certificates.” On the Closing Date the Depositor will deposit $100 into the Liquidation Reserve Fund. The funds on deposit in the Liquidation Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement. The Liquidation Reserve Fund will not be an asset of any REMIC.

Liquidation Reserve Fund. (a) On the Closing Date, the Trust Administrator shall establish an account (the “Liquidation Reserve Fund”), which shall be an Eligible Account. The Liquidation Reserve Fund shall be entitled “Liquidation Reserve Fund, Xxxxx Fargo Bank, N.A, as Trust Administrator on behalf of U.S. Bank, as Trustee for the benefit of the holders of the CSMC 20072006-1 8 Certificates.” On the Closing Date the Depositor will deposit $100 into the Liquidation Reserve Fund. The funds on deposit in the Liquidation Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement. The Liquidation Reserve Fund will not be an asset of any REMIC.

Liquidation Reserve Fund. (a) On the Closing Date, the Trust Administrator shall establish an account (the “Liquidation Reserve Fund”), which shall be an Eligible Account. The Liquidation Reserve Fund shall be entitled “Liquidation Reserve Fund, Xxxxx Fargo Bank, N.A, as Trust Administrator on behalf of U.S. Bank, as Trustee for the benefit of the holders of the CSMC 20072006-1 9 Certificates.” On the Closing Date the Depositor will deposit $100 into the Liquidation Reserve Fund. The funds on deposit in the Liquidation Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement. The Liquidation Reserve Fund will not be an asset of any REMIC.