Common use of Net WAC Cap Account Clause in Contracts

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Certificateholders, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi). The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Offered Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Offered Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(g). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Offered Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxiSections 4.02(f)(64), 4.02(f)(65), 4.02(g)(64) and 4.02(g)(65). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Offered Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(j). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, than the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Certificateholders, the Net WAC Cap Account and deposit therein the amount of $10,000 paid 500 remitted to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi4.02(d)(xxxvii). The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h). (c) The At the written direction of the Holders of the Class X Certificates, the Trustee shall either (i) leave the funds in the Net WAC Cap Account uninvested or (ii) invest the funds in the Net WAC Cap Account as directed in writing Permitted Investments specified by the Holders of the Class X Certificates in Permitted InvestmentsCertificates, which Permitted Investments shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings In the absence of any such direction, funds in the Net WAC Cap Account shall remain uninvested. All investments made with funds from the Net WAC Cap Account shall be made in the name of the Trustee, on behalf of the Trust Fund for the benefit of the Certificateholders. All income earned on funds on deposit in the Net WAC Cap Account, net any losses realized from any Permitted Investments made with such amounts funds, shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c3A.04(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates. (e) The Net WAC Cap Account shall be treated as an “outside reserve fund” under applicable Treasury regulations and will not be part of any REMIC. Any earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. Distributions made to the Net WAC Cap Account under this Agreement shall be treated as made to the Class X Certificateholders.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Offered Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Offered Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(g). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, than the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Certificateholders, the Net WAC Cap Account and deposit therein the amount of $10,000 paid 500 remitted to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "“outside reserve fund" ” under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi). The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c3A.04(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Offered Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi4.02(d)(xxxiv). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Offered Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(g). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Certificateholders, the Net WAC Cap Account and deposit therein the amount of $10,000 paid 500 remitted to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi). The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h). (c) The At the written direction of the Holders of the Class X Certificates, the Trustee shall either (i) leave the funds in the Net WAC Cap Account uninvested or (ii) invest the funds in the Net WAC Cap Account as directed in writing Permitted Investments specified by the Holders of the Class X Certificates in Permitted InvestmentsCertificates, which Permitted Investments shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings In the absence of any such direction, funds in the Net WAC Cap Account shall remain uninvested. All investments made with funds from the Net WAC Cap Account shall be made in the name of the Trustee, on behalf of the Trust Fund for the benefit of the Certificateholders. All income earned on funds on deposit in the Net WAC Cap Account, net any losses realized from any Permitted Investments made with such amounts funds, shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c3A.04(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates. (e) The Net WAC Cap Account shall be treated as an “outside reserve fund” under applicable Treasury regulations and will not be part of any REMIC. Any earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. Distributions made to the Net WAC Cap Account under this Agreement shall be treated as made to the Class X Certificateholders.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Offered Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi4.02(d)(xxxii). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Offered Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(g). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.

Net WAC Cap Account. (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the CertificateholdersHolders of the Class AF-1, Class AV-1A, Class AV-1B, Class AV-2, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, the Net WAC Cap Account and deposit therein the amount of $10,000 paid to the Trustee by the Depositor. The Net WAC Cap 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 held by the Trustee pursuant to this Agreement. The Net WAC Cap Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC. Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates. Distributions made to the Net WAC Cap Account any outside reserve fund under this document shall be treated as made to the Class X Certificateholders. (b) On each Distribution Date, the Trustee shall deposit amounts in the Net WAC Cap Account pursuant to Section 4.02(d)(xxxi4.02(d)(xxvi). The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Class AF-1, Class AV-1A, Class AV-1B, Class AV-2, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates. The Trustee shall make withdrawals from the Net WAC Cap Account to make distributions pursuant to Section 4.02(h4.02(f). (c) The Trustee shall invest the funds in the Net WAC Cap Account as directed in writing by the Holders of the Class X Certificates in Permitted Investments, which shall mature not later than, the second Business Day preceding each Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such account or a fund for which such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or subcustodian, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Date) and shall not be sold or disposed of prior to their maturity. Any investment earnings on such amounts shall be payable to the Holders of the Class X Certificates. The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Net WAC Cap Account and made in accordance with this Section 3A.03(c). (d) Upon termination of the Trust Fund, any amounts remaining in the Net WAC Cap Account shall be distributed to the Holders of the Class X Certificates.