Common use of Pre-Funding Account and Capitalized Interest Account Clause in Contracts

Pre-Funding Account and Capitalized Interest Account. (a) On the Startup Day, the Indenture Trustee will deposit, on behalf of the Owners of the Notes and the Note Insurer, (i) in the Pre-Funding Account the Original Pre-Funded Amount from the proceeds of the sale of the Notes. (b) On any Subsequent Transfer Date, the Issuer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account an amount equal to 100% of the aggregate Loan Balances of the Subsequent Home Equity Loans sold to the Issuer and subsequently pledged to the Indenture Trustee on such Subsequent Transfer Date and pay such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in Sections 2.05 and 2.07 hereof with respect to such transfer. In no event shall the Issuer be permitted to instruct the Indenture Trustee to release from the Pre-Funding Account to the Note Account with respect to Subsequent Home Equity Loans to be transferred an amount in excess of the Original Pre-Funded Amount. (c) After giving effect to any reductions in the Pre-Funded Amount on or before the Monthly Remittance Date in __________ 199_, the Indenture Trustee shall withdraw from the Pre-Funding Account the amount (exclusive of any related Pre-Funding Account Earnings still on deposit therein) remaining in the Pre-Funding Account and deposit such amount to the Note Account on such Monthly Remittance Date.

Pre-Funding Account and Capitalized Interest Account. (a) On the Startup Day, the Indenture Trustee will deposit, on behalf of the Owners of the Notes Class A Certificates and the Note Certificate Insurer, (i) in the Pre-Funding Account the Original Pre-Funded Amount and (ii) in the Capitalized Interest Account, the Capitalized Interest Requirement, each from the proceeds of the sale of the NotesClass A Certificates. (b) On any Subsequent Transfer Date, the Issuer Seller shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account an amount equal to 100% of the aggregate Loan Balances of the Subsequent Home Equity Loans sold to the Issuer and subsequently pledged to the Indenture Trustee Trust on such Subsequent Transfer Date and pay such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in Sections 2.05 3.05 and 2.07 3.07 hereof with respect to such transfer. In no event shall the Issuer Seller be permitted to instruct the Indenture Trustee to release from the Pre-Funding Account to the Note Certificate Account with respect to Subsequent Home Equity Loans to be transferred an amount in excess of the Original Pre-Funded Amount. (c) After giving effect to any reductions in the Pre-Funded Amount on or before the Monthly Remittance Date in __________ 199_November 1996, the Indenture Trustee shall withdraw from the Pre-Funding Account the amount (exclusive of any related Pre-Funding Account Earnings still on deposit therein) remaining in the Pre-Funding Account and deposit such amount to the Note Certificate Account on such Monthly Remittance Date.

Pre-Funding Account and Capitalized Interest Account. (a) On the Startup Day, the Indenture Trustee will deposit, on behalf of the Owners of the Notes Class A Certificates and the Note Certificate Insurer, (i) in the Pre-Funding Account the Original Pre-Funded Amount and (ii) in the Capitalized Interest Account, the Original Capitalized Interest Deposit, each from the proceeds of the sale of the NotesClass A Certificates. (b) On any Subsequent Transfer Date, the Issuer Seller shall instruct the Indenture Trustee in writing to withdraw from the Pre-Funding Account an amount equal to 100% of the aggregate Loan Balances of the Subsequent Home Equity Loans sold to the Issuer and subsequently pledged to the Indenture Trustee Trust on such Subsequent Transfer Date and pay such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in Sections 2.05 3.05 and 2.07 3.07 hereof with respect to such transfer. In no event shall the Issuer Seller be permitted to instruct the Indenture Trustee to release from the Pre-Funding Account to the Note Certificate Account with respect to Subsequent Home Equity Loans to be transferred an amount in excess of the Original Pre-Funded Amount. (c) After giving effect to any reductions in the Pre-Funded Amount on or before the Monthly Remittance Date in __________ 199_relating to the final Pre-Funding Payment Date, the Indenture Trustee shall withdraw from the Pre-Funding Account the amount (exclusive of any related Pre-Funding Account Earnings still on deposit therein) remaining in the Pre-Funding Account on such Monthly Remittance Date relating to the final Pre-Funding Payment Date and deposit such amount to the Note Certificate Account on such Monthly Remittance Date.

Pre-Funding Account and Capitalized Interest Account. (a) On the Startup DayClosing Date, the Indenture Trustee will deposit, on behalf of the Owners of the Notes and the Note Insurer, (i) in the Pre-Funding Account the Original Pre-Funded Amount deposit from the proceeds of the sale of the Notes, on behalf of the Noteholders and the Note Insurer, (x) to the Pre-Funding Account, the Original Pre-Funded Amount and (y) to the Capitalized Interest Account, the Capitalized Interest Account Deposit. (b) On any each Subsequent Transfer Date, the Issuer Sponsor shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account an amount equal to 10096.25% of the aggregate Loan Balances of the Subsequent Home Equity Mortgage Loans sold transferred to the Issuer and subsequently pledged to the Indenture Trustee Trust on such Subsequent Transfer Date and pay such amount to or upon the order of the Seller Sponsor upon satisfaction of the conditions set forth in Sections 2.05 Section 2.04 of the Sale and 2.07 hereof Servicing Agreement with respect to such transfer. In no event shall . (c) On each Payment Date occurring during the Issuer be permitted to instruct Pre-Funding Period, the Indenture Trustee to release shall transfer from the Pre-Funding Account to the Note Account with respect to Subsequent Home Equity Loans to be transferred an amount in excess of Account, the Original Pre-Funded AmountFunding Earnings, if any, for each such Payment Date. (cd) After giving effect to any reductions in On each Payment Date during the Pre-Funded Amount on or before the Monthly Remittance Date in __________ 199_Funding Period, the Indenture Trustee shall withdraw transfer from the Pre-Funding Capitalized Interest Account the amount to (exclusive of any related Pre-Funding Account Earnings still on deposit thereinx) remaining in the Pre-Funding Account and deposit such amount to the Note Account on Account, the Capitalized Interest Requirement, if any, for each such Monthly Remittance Date.Payment Date and (y) the Master Servicer