Common use of Net WAC Reserve Fund Clause in Contracts

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0A, Class A-5B, Class A-6, Class X-0, Xxxxx X-0 and Class M-3". Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C Certificates and payable as part of the Class C 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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx Association [Name of Trustee] as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Asset Backed Pass-Through Certificates, Series 2004____-AP3____, Class A-1, Class A-2, Class A-3, Class X-0A-0, Xxxxx X-0AX-0X, Class A-5B, Class A-6, Class X-0, Xxxxx X-0 and Class M-3". Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C Certificates and payable as part of the Class C 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 $5,000______. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx Association [Name of Trustee] as Trustee for the benefit of holders of Nomura Home Equity Loan, Inc., Asset Acceptance Corporation, Mortgage Backed Pass-Through Certificates, Series 2004____-AP3____, Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0AX-0, Class A-5BA-4, Class A-6A-5A, Class X-0X, Xxxxx X-0, Xxxxx X-0 Class M-1, Class M-2 and Class M-3". Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C Certificates and payable as part of the Class C 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 $5,000______. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO [___] Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx Association as Trustee [_____________________] for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 2004-AP3[_________], Class A-1[___], Class A-2[___], Class A-3[___], Class X-0, Xxxxx X-0A[___], Class A-5B[___], Class A-6[___], Class X-0, Xxxxx X-0 [___] and Class M-3[___]". Any payments received by the Trustee Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 [___] Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C X Certificates and payable as part of the Class C 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 $5,000[_________]. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO [___] Certificates) in the amounts and priorities set forth in clause THIRD of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Group II Offered Certificates (other than the Class II-A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 20042005-AP3AP1, Class II-A-1, Class II-A-2, Class II-A-3, Class X-0, Xxxxx X-0AII-A-4, Class A-5BII-A-5, Class A-6II-M-1, Class X-0, Xxxxx X-0 II-M-2 and Class II-M-3". Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Group II Senior Certificates and Group II Mezzanine Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class II-C Certificates and payable as part of the Class II-C 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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 paragraph [4 of clause THIRD of Section 5.04(a5.04(b) into the Net WAC Reserve Fund and the Trustee has been directed by the Class II-C Certificateholder to distribute such amounts to the Holders of the Publicly Group II Offered Certificates (other than the Class II-A-IO Certificates) up to the Net WAC Carryover Amount, payable to each such Class, first to the Group II Senior Certificates (other than the Class II-A-IO Certificates) on a pro rata basis, based on the entitlement of each such Class and then to the Class II-M-1, Class II-M-2 and Class II-M-3 Certificates, in the amounts and priorities set forth in clause THIRD of Section 5.04(a)that order.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 20042005-AP3AP2, Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0AX-0, Class A-5BA-4, Class A-6A-5, Class X-0M-1, Xxxxx X-0 Class M-2 and Class M-3"”. Any payments received by the Trustee Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C X Certificates and payable as part of the Class C 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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, and 6 and 7 of clause THIRD Third of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Senior Certificates (other than the Class A-IO and Subordinate Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage PassAsset-Through Backed Certificates, Series 20042007-AP32, Class A-1A-1A, Class A-2X-0X, Xxxxx X-0, Class A-3, Class X-0, Xxxxx X-0AA-4, Class A-5B, Class A-6A-5, Class X-0, Xxxxx X-0 X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-3"M-6”. Any payments received by the Trustee Securities Administrator under the Cap Contract shall and deposited into the Supplement Interest Trust should be withdrawn by the Securities Administrator and deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 A-4 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C X Certificates and payable as part of the Class C 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 $5,0001,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 paragraph 3 of clause THIRD Third of Section 5.04(a5.05(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Senior Certificates (other than the Class A-IO Certificates) and Subordinate Certificates in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a5.05(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Group I Publicly Offered Certificates (other than the Class I-A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 20042006-AP3AF1, Class A-1I-A-1A, Class I-A-1B, Class I-A-2, Class I-A-3, Class X-0, Xxxxx X-0AI-A-4, Class A-5BI-A-5, Class A-6I-M-1, Class X-0, Xxxxx X-0 I-M-2 and Class I-M-3"”. Any payments received by the Trustee Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 I-A-1A Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C I-X Certificates and payable as part of the Class C I-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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 5 and 6 and 7 of clause THIRD Third of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C I-X Certificateholder to distribute such amounts to the Holders of the Group I Publicly Offered Certificates (other than the Class I-A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Group I Senior Certificates (other than the Class A-IO and Group I Subordinate Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance CorporationHome Equity Loan, Mortgage PassInc., Asset-Through Backed Certificates, Series 20042007-AP31, Class I-A-1, Class I-A-2, Class I-A-3, Class X-0, Xxxxx X-0AI-A-4, Class A-5BI-A-5, Class I-A-6, Class X-0I-M-1, Xxxxx X-0 Class I-M-2 and Class I-M-3"”. Any payments received by the Trustee Securities Administrator under the Class I-A-4 Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 I-A-4 Certificates and any payments received by the Securities Administrator under the Class I-M-3 Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class I-M-3 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C I-X Certificates and payable as part of the Class C I-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 $5,0001,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 paragraph 3 of clause THIRD Third of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C I-X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Group I Senior Certificates (other than the Class A-IO Certificates) and Group I Subordinate Certificates in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 20042006-AP3AP1, Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0AX-0, Class A-5BA-4, Class A-6A-5, Class X-0M-1, Xxxxx X-0 Class M-2 and Class M-3"”. Any payments received by the Trustee Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C X Certificates and payable as part of the Class C 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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD Third of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, Wells Fargo Bank, Natixxxx U.S. Bank National Association as Trustee for the benefit of holders Holders of Nomura Bear Stearns Asset Acceptance CorporationBacked Xxxxxxties I LLC, Mortgage PassAsset-Through Backed Certificates, Series 20042006-AP3AC2, Class 1-A-1, Class I-A-2, Class A-3I-M-1, Class X-0, Xxxxx X-0AI-M-2, Class A-5BI-M-3, Class A-6I-B-1, Class X-0I-B-2, Xxxxx X-0 Class I-B-3 and Class M-3I-B-4 Certificates". Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C Certificates and payable as part of the Class C 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 $5,000an 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 Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 9 through 17 of clause THIRD of Section 5.04(a6.04(a) with respect to Loan Group I into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class I-C Certificateholder to distribute such any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Publicly Group I Offered Certificates (other than and Class I-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 of Section 5.04(a6.04(a).

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, Wells Xxxxx Fargo Bank, Natixxxx National Association as Trustee for the benefit of holders of Nomura Asset Acceptance Corporation, Mortgage Pass-Through Certificates, Series 20042005-AP3, Class A-1, Class A-2X-0, Class A-3Xxxxx X-0, Class X-0, Xxxxx X-0AX-0, Class A-5BM-1, Class A-6M-2, Class X-0, Xxxxx X-0 M-3 and Class M-3"M-4”. Any payments received by the Trustee Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C X Certificates and payable as part of the Class C 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 $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 3, 4, 5, 6 and 7 of clause THIRD Third of Section 5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 5.04(a).