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 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, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Xxxxxxx Asset Backed Securities, Inc., Asset-Backed Certificates, Series 2003-AC4, Class A, Class M-1, Class M-2, Class BA and Class BB". 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 5, 6, 7, and 8 of clause THIRD of Section 6.04(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 Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a).

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the 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, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Xxxxxxx Stearns Asset Backed SecuritiesBackex Xxxxxities, Inc., Asset-Backed Certificates, Series 2003-AC4AC3, Class AA-1, Class M-1, Class M-2, Class BA M-3 and Class BBB-1". 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 5, 6, 7, 8 and 8 9 of clause THIRD of Section 6.04(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 Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a).

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the 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, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders of Bear Xxxxxxx Asset Backed Securities, Inc.Securities I LLC, Asset-Backed Certificates, Series 20032005-AC4AC1, Class A, Class M-1, Class M-2, Class BA M-3, Class B-1, Class B-2 and Class BBB-3". 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 shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 5, 6, 7, and 8 through 14 of clause THIRD third of Section 6.04(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 Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(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)) and the Class B-1 Certificates. The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Xxxxxxx Nomura Asset Backed SecuritiesAcceptance Corporation, Inc., AssetMortgage Pass-Backed Through Certificates, Series 2003-AC4A3, Class AA-1, Class M-1, Class M-2, Class BA M-2 and Class BBB-1". 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 5, 6, 7, and 8 of clause THIRD of Section 6.04(a5.04(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) and the Class B-1 Certificates in the amounts and priorities set forth in clause THIRD of Section 6.04(a5.04(a).