Common use of Net WAC Reserve Fund Clause in Contracts

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC3, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) through (xvii) of clause third of Section 6.04(a) into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the priorities set forth in clause third of Section 6.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates and (other than the Class B-4 A-IO Certificates). The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “"Net WAC Reserve Fund, U.S. JPMorgan Chase Bank National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Stearns Asset Backed Securities I LLCBackex Xxxxxities, Inc., Asset-Backed Certificates, Series 20062003-AC3AC2, Class I-A-1, Class I-A-2, Class II-A-1A-3, Class II-A-2Claxx X-0, Class Xxxxx M-1, Class M-2, Class M-3, Class B-1, B-1 and Class B-2, Class B-3 and Class B-4”". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, Trustee shall deposit the amounts pursuant to paragraphs (ix) through (xvii) 6, 7, 8 and 9 of clause third THIRD of Section 6.04(a) into the Net WAC Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and (other than the Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause third THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC3AC1, Class I1-A-1, Class I-A-2, Class III-A-1, Class II-A-2, Class M-1, Class I-M-2, Class I-M-3, Class I-B-1, Class I-B-2, Class I-B-3 and Class B-4I-B-4 Certificates”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Offered Certificates or Class I-B-4 Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 9 through (xvii) 17 of clause third of Section 6.04(a) with respect to Loan Group I into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class I-C Certificateholder to distribute any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Group I Offered Certificates and Class I-B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the priorities set forth in clause third of Section 6.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC3AC9, Class I-A-1, Class I-A-2X-0, Xxxxx X-0, Class II-A-1X-0, Class II-A-2Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 9 through (xvii) 17 of clause third of Section 6.04(a) into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the priorities set forth in clause third of Section 6.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank Xxxxx Fargo Bank, National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Asset Backed Securities I LLCNomura Home Equity Loan, Inc., Asset-Backed Certificates, Series 2006-AC3AF1, Class I-A-1, Class I-A-2X-0, Xxxxx X-0, Class II-A-1, Class II-A-2A-4, Class M-1, Class M-2, M-2 and Class M-3, ”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class B-1, Class B-2, Class B-3 and Class B-4”A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, shall deposit the amounts pursuant to paragraphs paragraph (ix) through (xvii4) of clause third Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund, Fund and the Securities Administrator has been directed by the Class C X Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Publicly Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third Third of Section 6.04(a5.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates Class A-1, Class M-1, Class M-2, Class B-1 and the Class B-4 CertificatesB-2 Certificateholders. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “"Net WAC Reserve Fund, U.S. JPMorgan Chase Bank National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Stearns Asset Backed Securities I LLCBackex Xxxxxities, Inc., Asset-Backed Certificates, Series 20062003-AC3AC1, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class M-1, Class M-2, Class M-3, Class B-1, B-1 and Class B-2, Class B-3 and Class B-4”". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, Trustee shall deposit the amounts pursuant to paragraphs (ix) through (xvii) 6, 7, 8 and 9 of clause third THIRD of Section 6.04(a) into the Net WAC Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates Class A-1, Class M-1, Class B-1 and Class B-4 B-2 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee Wxxxx Fargo Bank, N.A. for the benefit of Holders holders of Bear Xxxxxxx Nomura Asset Backed Securities I LLCAcceptance Corporation, AssetMortgage Pass-Backed Through Certificates, Series 20062005-AC3, Class I-A-1, Class I-A-2WF1, Class II-A-1A-1A, Class II-A-1B, Class II-A-2, Class II-A-3, Class II-A-4, Class II-A-5, Class M-1, Class M-2, M-2 and Class M-3, ”. Any payments received by the Securities Administrator under the Cap Contracts shall be deposited into the Net WAC Reserve Fund for the benefit of the Class B-1, Class B-2, Class B-3 II-A-1A Certificates and Class B-4”II-A-1B Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class X Certificates and payable as part of the Class X Distribution Amount for the related Distribution Date. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, shall deposit the amounts pursuant to paragraphs (ix) through (xvii) of clause third of Section 6.04(a5.04(b)(3)(iii) into the Net WAC Reserve Fund, Fund and the Securities Administrator has been directed by the Majority Class C X Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and Class B-4 Certificates in respect of up to the Net WAC Rate Carryover Amount for payable to each such Class, first to the Senior Certificates on a pro rata basis, based on the entitlement of each such Class and then to the Class M-1, Class M-2 and Class M-3 Certificates, in the priorities set forth in clause third of Section 6.04(a)that order.

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank Wxxxx Fargo Bank, National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Nomura Asset Backed Securities I LLCAcceptance Corporation, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC3WF1, Class I-A-1, Class I-A-2A-0, Xxxxx X-0, Class II-A-1A-4, Class II-A-2A-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 M-3 and Class B-4M-4”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, shall deposit the amounts pursuant to paragraphs (ix) through (xvii) 3, 4, 5, 6 and 7 of clause third Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund, Fund and the Securities Administrator has been directed by the Class C X Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Publicly Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third Third of Section 6.04(a5.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank Xxxxx Fargo Bank, National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Nomura Asset Backed Securities I LLCAcceptance Corporation, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC3WF1, Class I-A-1, Class I-A-2X-0, Xxxxx X-0, Class II-A-1A-4, Class II-A-2X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 M-3 and Class B-4M-4”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, shall deposit the amounts pursuant to paragraphs (ix) through (xvii) 3, 4, 5, 6 and 7 of clause third Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund, Fund and the Securities Administrator has been directed by the Class C X Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Publicly Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third Third of Section 6.04(a5.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC3AC7, Class I-A-1, Class I-A-2X-0, Xxxxx X-0, Class II-A-1, Class II-A-2A-4, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 9 through (xvii) 17 of clause third of Section 6.04(a) into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the priorities set forth in clause third of Section 6.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates and (other than the Class B-4 A-IO Certificates). The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “"Net WAC Reserve Fund, U.S. JPMorgan Chase Bank National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Nomura Asset Backed Securities I LLCAcceptance Corporation, AssetMortgage Pass-Backed Through Certificates, Series 20062004-AC3AP1, Class I-A-1, Class I-A-2, Class II-A-1A-3, Class II-A-2X-0X, Xxxxx X-4B, Class M-1A-5, Class M-2X-0, Xxxxx X-0, Class M-3, Class B-1, Class B-2, Class B-3 M-2 and Class B-4”M-3". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, Trustee shall deposit the amounts pursuant to paragraphs (ix) through (xvii) 3, 4, 5 and 6 of clause third THIRD of Section 6.04(a5.04(a) into -105- the Net WAC Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Publicly Offered Certificates and (other than the Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause third THIRD of Section 6.04(a5.04(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “"Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC3AC2, Class I-A-1A, Class I-A-2M-1, Class I-M-2, Class I-M-3, Class I-B-1, Class I-B-2, Class I-B-3, Class II-A-1, Class II-A-2, Class II-M-1, Class II-M-2, Class II-M-3, Class II-B-1, Class B-2, Class B-3 II-B-2 and Class B-4”II-B-3 Certificates". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Offered Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 8 through (xvii) 14 of clause third of Section 6.04(a) with respect to Loan Group I and pursuant to paragraphs 8 through 14 of clause third of Section 6.04(b) with respect to Loan Group II into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class I-C Certificateholder and Class II-C Certificateholder, as applicable, to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the related Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third of Section Sections 6.04(a) and 6.04(b).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC3, Class I-A-1A, Class I-A-2, Class II-A-1, Class II-A-2, Class M-1, Class I-M-2, Class I-M-3, Class I-B-1, Class I-B-2, Class I-B-3 and Class B-4I-B-4 Certificates”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Offered Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 8 through (xvii) 16 of clause third of Section 6.04(a) with respect to Loan Group I into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class I-C Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Group I Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third of Section 6.04(aSections 6.07(a).

Net WAC Reserve Fund. (a) The Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates and the Class B-4 Certificates. The Net WAC Reserve Fund shall must be an Eligible Account. The Net WAC Reserve Fund shall be entitled “Net WAC Reserve Fund, U.S. Bank National Association as Trustee for the benefit of Holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC3AC4, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2A, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund an amount equal to the Net WAC Reserve Fund Deposit$5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs (ix) 9 through (xvii) 16 of clause third of Section 6.04(a) into the Net WAC Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any such amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class in the amounts and priorities set forth in clause third of Section 6.04(a).