PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 CertificatesM-11 Certificate, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 P Certificates, (xvix) the Class R Certificates and (xixxx) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Pre-Funding Accounts, any Subsequent Mortgage Loan Interest, the Basis Risk Net WAC Rate Carryover Reserve Fund Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) LT1 Variable(2) $ 509,694,907.11 February 2037 LT1PF Variable(2) $ 185,365,645.51 February 2037 LT2 Variable(2) $ 590,304,841.03 February 2037 LT2PF Variable(2) $ 214,634,606.35 February 2037 ________________
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A AV-1 Certificates, (ii) the Class 1-A-1B AV-2 Certificates, (iii) the Class 2-A-1A AV-3 Certificates, (iv) the Class 2-A-1B AF-1 Certificates, (v) the Class 2-A-1C AF-2 Certificates, (vi) the Class X-1 AF-3 Certificates, (vii) the Class X-2 AF-4 Certificates, (viii) the Class PO-1 AF-5 Certificates, (ix) the Class PO-2 AF-6 Certificates, (x) the Class A-R Certificates, M-1 Certificates (xi), ) the Class A-R-II M-2 Certificates, (xii) the Class P M-3 Certificates, (xiii) the Class B-1 M-4 Certificates, (xiv) the Class B-2 M-5 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 M-6 Certificates, (xvii) the Class B-5 M-7 Certificates, (xviii) the Class B-6 Certificates and M-8 Certificates, (xix) the Class B-7 M-9 Certificates, (xx) the Class C Certificates, (xxi) the Class P Certificates and (xxii) the Class R Certificates. REMIC 1 As provided herein, the Trustee Securities Administrator shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund Account, the Interest Rate Swap Agreement, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance Agreementsany Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation REMIC 1 Remittance Rate Initial Uncertificated Balance Latest Possible Maturity Date(1) I (2) $ 22,178,745.72 September 25, 2037 I-1-RA (2) $ 208,560.26 September 25, 2037 I-1-B (2) $ 208,560.26 September 25, 2037 I-2-A (2) $ 259,444.02 September 25, 2037 I-2-B (2) $ 259,444.02 September 25, 2037 I-3-A (2) $ 310,325.58 September 25, 2037 I-3-B (2) $ 310,325.58 September 25, 2037 I-4-A (2) $ 360,748.82 September 25, 2037 I-4-B (2) $ 360,748.82 September 25, 2037 I-5-A (2) $ 410,238.25 September 25, 2037 I-5-B (2) $ 410,238.25 September 25, 2037 I-6-A (2) $ 458,304.27 September 25, 2037 I-6-B (2) $ 458,304.27 September 25, 2037 I-7-A (2) $ 504,413.79 September 25, 2037 I-7-B (2) $ 504,413.79 September 25, 2037 I-8-A (2) $ 527,298.95 September 25, 2037 I-8-B (2) $ 527,298.95 September 25, 2037 I-9-A (2) $ 508,660.52 September 25, 2037 I-9-B (2) $ 508,660.52 September 25, 2037 I-10-A (2) $ 490,598.47 September 25, 2037 I-10-B (2) $ 490,598.47 September 25, 2037 I-11-A (2) $ 473,177.74 September 25, 2037 I-11-B (2) $ 473,177.74 September 25, 2037 I-12-A (2) $ 456,375.55 September 25, 2037 I-12-B (2) $ 456,375.55 September 25, 2037 I-13-A (2) $ 440,169.81 September 25, 2037 I-13-B (2) $ 440,169.81 September 25, 2037 I-14-A (2) $ 424,539.49 September 25, 2037 I-14-B (2) $ 424,539.49 September 25, 2037 I-15-A (2) $ 251,360.20 September 25, 2037 I-15-B (2) $ 251,360.20 September 25, 2037 I-16-A (2) $ 14,661.80 September 25, 2037 I-16-B (2) $ 14,661.80 September 25, 2037 I-17-A (2) $ 14,004.73 September 25, 2037 I-17-B (2) $ 14,004.73 September 25, 2037 I-18-A (2) $ 13,377.09 September 25, 2037 I-18-B (2) $ 13,377.09 September 25, 2037 I-19-A (2) $ 12,777.49 September 25, 2037 I-19-B (2) $ 12,777.49 September 25, 2037 I-20-A (2) $ 15,794.29 September 25, 2037 I-20-B (2) $ 15,794.29 September 25, 2037 I-21-A (2) $ 11,496.65 September 25, 2037 I-21-B (2) $ 11,496.65 September 25, 2037 I-22-B (2) $ 11,944.61 September 25, 2037 I-23-B (2) $ 10,752.43 September 25, 2037 I-24-A (2) $ 9,963.48 September 25, 2037 I-24-B (2) $ 9,963.48 September 25, 2037 I-25-A (2) $ 9,516.67 September 25, 2037 I-25-B (2) $ 9,516.67 September 25, 2037 I-26-A (2) $ 9,089.84 September 25, 2037 I-26-B (2) $ 9,089.84 September 25, 2037 I-27-A (2) $ 8,682.13 September 25, 2037 I-27-B (2) $ 8,682.13 September 25, 2037 I-28-A (2) $ 8,292.66 September 25, 2037 I-28-B (2) $ 8,292.66 September 25, 2037 I-29-A (2) $ 7,920.62 September 25, 2037 I-29-B (2) $ 7,920.62 September 25, 2037 I-30-A (2) $ 7,565.24 September 25, 2037 I-30-B (2) $ 7,565.24 September 25, 2037 I-31-B (2) $ 7,225.79 September 25, 2037 I-32-A (2) $ 8,978.93 September 25, 2037 I-32-B (2) $ 8,978.93 September 25, 2037 I-33-A (2) $ 104,988.21 September 25, 2037 I-33-B (2) $ 104,988.21 September 25, 2037 I-34-A (2) $ 30,013.75 September 25, 2037 I-34-B (2) $ 30,013.75 September 25, 2037 I-35-A (2) $ 9,415.01 September 25, 2037 I-35-B (2) $ 9,415.01 September 25, 2037 II Certificate. Each such Lower(2) $ 548,129,782.55 September 25, 2037 II-1-Tier Interest is hereby designated as a REMIC regular interest.A (2) $ 5,154,399.24 September 25, 2037 II-1-B (2) $ 5,154,399.24 September 25, 2037 II-2-A (2) $ 6,411,950.48 September 25, 2037 II-2-B (2) $ 6,411,950.48 September 25, 2037 II-3-A (2) $ 7,669,447.42 September 25, 2037 II-3-B (2) $ 7,669,447.42 September 25, 2037 II-4-A (2) $ 8,915,617.18 September 25, 2037 II-4-B (2) $ 8,915,617.18 September 25, 2037 II-5-A (2) $ 10,138,708.75 September 25, 2037 II-5-B (2) $ 10,138,708.75 September 25, 2037 II-6-A (2) $ 11,326,621.73 September 25, 2037 II-6-B (2) $ 11,326,621.73 September 25, 2037 II-7-A (2) $ 12,466,181.71 September 25, 2037 II-7-B (2) $ 12,466,181.71 September 25, 2037 II-8-A (2) $ 13,031,770.05 September 25, 2037 II-8-B (2) $ 13,031,770.05 September 25, 2037 II-9-A (2) $ 12,571,135.98 September 25, 2037 II-9-B (2) $ 12,571,135.98 September 25, 2037 II-10-A (2) $ 12,124,747.03 September 25, 2037 II-10-B (2) $ 12,124,747.03 September 25, 2037 II-11-A (2) $ 11,694,207.76 September 25, 2037 II-11-B (2) $ 11,694,207.76 September 25, 2037 II-12-A (2) $ 11,278,954.95 September 25, 2037 II-12-B (2) $ 11,278,954.95 September 25, 2037 II-13-A (2) $ 10,878,443.19 September 25, 2037 II-13-B (2) $ 10,878,443.19 September 25, 2037 II-14-A (2) $ 10,492,152.51 September 25, 2037 II-14-B (2) $ 10,492,152.51 September 25, 2037 II-15-A (2) $ 6,212,165.30 September 25, 2037 II-15-B (2) $ 6,212,165.30 September 25, 2037 II-16-A (2) $ 362,354.70 September 25, 2037 II-16-B (2) $ 362,354.70 September 25, 2037 II-17-A (2) $ 346,115.77 September 25, 2037 II-17-B (2) $ 346,115.77 September 25, 2037 II-18-A (2) $ 330,603.91 September 25, 2037 II-18-B (2) $ 330,603.91 September 25, 2037 II-19-A (2) $ 315,785.51 September 25, 2037 II-19-B (2) $ 315,785.51 September 25, 2037 II-20-A (2) $ 390,343.21 September 25, 2037 II-20-B (2) $ 390,343.21 September 25, 2037 II-21-A (2) $ 284,130.35 September 25, 2037 II-21-B (2) $ 284,130.35 September 25, 2037 II-22-A (2) $ 295,201.39 September 25, 2037 II-22-B (2) $ 295,201.39 September 25, 2037 II-23-A (2) $ 265,737.57 September 25, 2037 II-23-B (2) $ 265,737.57 September 25, 2037 II-24-A (2) $ 246,239.52 September 25, 2037 II-24-B (2) $ 246,239.52 September 25, 2037 II-25-A (2) $ 235,196.83 September 25, 2037 II-25-B (2) $ 235,196.83 September 25, 2037 II-26-A (2) $ 224,648.16 September 25, 2037 II-26-B (2) $ 224,648.16 September 25, 2037 II-27-A (2) $ 214,571.87 September 25, 2037 II-27-B (2) $ 214,571.87 September 25, 2037 II-28-A (2) $ 204,946.34 September 25, 2037 II-28-B (2) $ 204,946.34 September 25, 2037 II-29-A (2) $ 195,751.88 September 25, 2037 II-29-B (2) $ 195,751.88 September 25, 2037 II-30-A (2) $ 186,968.76 September 25, 2037 II-30-B (2) $ 186,968.76 September 25, 2037 II-31-A (2) $ 178,579.71 September 25, 2037 II-31-B (2) $ 178,579.71 September 25, 2037 II-32-A (2) $ 221,907.07 September 25, 2037 II-32-B (2) $ 221,907.07 September 25, 2037 II-33-A (2) $ 2,594,699.29 September 25, 2037 II-33-B (2) $ 2,594,699.29 September 25, 2037 II-34-A (2) $ 741,765.75 September 25, 2037 II-34-B (2) $ 741,765.75 September 25, 2037 II-35-A (2) $ 232,684.49 September 25, 2037 II-35-B (2) $ 232,684.49 September 25, 2037 P (2) $ 100.00 September 25, 2037 _______________
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan HE4, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-HE4, Asset Backed Pass-Through Certificates, dated as of September 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Publicly Offered Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated September 25, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-11 Certificates (the “Class M-11 Certificates”; together with the Publicly Offered Mezzanine Certificates, the “Mezzanine Certificates”) to DBSI pursuant to the Purchase Agreement dated as of September 25, 2006 between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8A Certificates, (xiv) the Class B-2 M-8B Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 M-10 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates and (xxi) the Class X Certificates, (xxi) the Class X Certificates, (xxii) the Class FL Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 124,386,234.94 March 2037 I-11-II Certificate. Each such LowerB Variable (2) $ 6,032,302.50 March 2037 I-12-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 6,189,516.25 March 2037 I-13-B Variable (2) $ 28,924,417.50 March 2037 I-15-B Variable (2) $ 4,276,727.50 March 2037 I-17-B Variable (2) $ 7,221,091.25 March 2037 I-18-B Variable (2) $ 6,938,052.50 March 2037 I-19-B Variable (2) $ 3,800,918.75 March 2037 I-24-B Variable (2) $ 2,108,407.50 March 2037 I-25-B Variable (2) $ 3,591,075.00 March 2037 I-26-B Variable (2) $ 3,417,387.50 March 2037 I-27-B Variable (2) $ 1,786,016.25 March 2037 I-28-B Variable (2) $ 1,672,731.25 March 2037 I-29-B Variable (2) $ 1,620,861.25 March 2037 I-30-B Variable (2) $ 1,570,657.50 March 2037 I-33-B Variable (2) $ 1,429,482.50 March 2037 I-35-B Variable (2) $ 1,342,715.00 March 2037 I-36-B Variable (2) $ 1,301,391.25 March 2037 I-38-B Variable (2) $ 1,226,582.50 March 2037 I-39-B Variable (2) $ 1,197,820.00 March 2037 I-41-B Variable (2) $ 1,527,275.00 March 2037 I-42-A Variable (2) $ 1,800,310.00 March 2037 I-42-B Variable (2) $ 1,800,310.00 March 2037 I-43-B Variable (2) $ 1,131,718.75 March 2037 I-44-A Variable (2) $ 963,366.25 March 2037 I-44-B Variable (2) $ 963,366.25 March 2037 I-45-A Variable (2) $ 927,810.00 March 2037 I-45-B Variable (2) $ 927,810.00 March 2037 I-47-B Variable (2) $ 874,273.75 March 2037 I-48-B Variable (2) $ 849,963.75 March 2037 I-49-B Variable (2) $ 1,180,150.00 March 2037 I-50-B Variable (2) $ 1,053,035.00 March 2037 I-51-B Variable (2) $ 25,683,835.00 March 2037 P Variable (2) $ 100.00 March 2037 ________________
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 11 Mortgage Loan Pass-Through Certificates, Series 2005-5 11 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 2-A-1A A-1 Certificates, (iv) the Class 2-A-1B A2A Certificates, (v) the Class 2-A-1C A2B Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 PO Certificates, (ix) the Class PO-2 2-PO Certificates, (x) the Class A-R Certificates, (xi)) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates, Certificates and (xiixxiv) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 222,415,510.10 Group 1 LT-Group 1 SCA (1) $ 238,235.96 Group 1 LT-Group 2 (2) $ 463,586,139.55 Group 2 LT-Group 2 SCA (2) $ 496,566.56 Group 2 LT-R (3) (3) N/A
Appears in 2 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-11)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale The Trustee on behalf of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificateswill execute and deliver the Bear Stearns Structured Products Inc. Trust, Series 20052007-5 (the “Certificates”) R8, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Clxxx XXX-A-1, Class III-A-2, Class IV-A-1, Class IV-A-2, Class V-A-1a, Class V-A-1b, Class V-A-1c, Class V-A-2, Class V-A-3, Class VI-A-1a, Class VI-A-1b, Class VI-A-1c, Class VI-A-2 and Class R Certificates representing in the aggregate the entire beneficial ownership of the TrustTrust (as defined herein), the primary assets of which are the Mortgage Loans Underlying Certificates (as defined belowherein). The Depositor intends to sell some or all of the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. REMIC I As provided herein, the Trustee shall will elect that to treat the segregated pool of assets contained in the Trust Fund (exclusive consisting of the assets held in Underlying Certificates (other than the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsUnderlying Group V Certificates) be treated as a REMIC for federal income tax purposes, designated as "REMIC I". For purposes as comprising two real estate mortgage investment conduits (eachof the REMIC Provisions, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than Component I of the Class A-R Certificate and the Class A-R-II Certificate, shall Certificates will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of "residual interests" in REMIC I. Component I of the Class R Certificates will not bear interest in or have a principal amount. The following table irrevocably sets forth the Upperdesignation, the Uncertificated Pass-Tier REMIC Through Rate (as defined herein) and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold initial Uncertificated Principal Balance (as assets all property defined herein) for each of the Trust Fund Uncertificated REMIC I Regular Interests (as defined herein), which are hereby designated as the "regular interests" in REMIC I. Solely for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the Distribution Date immediately following the latest scheduled maturity date for the Underlying Certificates (other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby Underlying Group V Certificates) has been designated as a the "latest possible maturity date" for each of the Uncertificated REMIC regular interestI Regular Interests.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8), Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 Certificates, R Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 43,200,091.53 March 25, 2037 II Variable(2) $ 8,046,584.07 March 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 4,917,437.46 March 25, 2037 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 6,683,617.74 March 25, 2037 I-4-B Variable(2) $ 7,559,243.48 March 25, 2037 I-5-B Variable(2) $ 8,395,396.74 March 25, 2037 I-6-B Variable(2) $ 9,199,397.74 March 25, 2037 I-7-B Variable(2) $ 9,765,853.13 March 25, 2037 I-8-B Variable(2) $ 9,968,153.03 March 25, 2037 I-10-B Variable(2) $ 9,671,900.88 March 25, 2037 I-11-A Variable(2) $ 9,378,402.50 March 25, 2037 I-11-B Variable(2) $ 9,378,402.50 March 25, 2037 I-12-B Variable(2) $ 9,082,472.90 March 25, 2037 I-13-A Variable(2) $ 8,793,313.47 March 25, 2037 I-13-B Variable(2) $ 8,793,313.47 March 25, 2037 I-14-B Variable(2) $ 8,533,905.53 March 25, 2037 I-15-B Variable(2) $ 8,285,929.66 March 25, 2037 I-16-B Variable(2) $ 8,049,176.19 March 25, 2037 I-17-B Variable(2) $ 7,905,614.92 March 25, 2037 I-18-A Variable(2) $ 9,624,741.95 March 25, 2037 I-18-B Variable(2) $ 9,624,741.95 March 25, 2037 I-19-B Variable(2) $ 12,780,615.97 March 25, 2037 I-20-B Variable(2) $ 14,847,514.92 March 25, 2037 I-21-B Variable(2) $ 15,023,940.84 March 25, 2037 I-25-B Variable(2) $ 6,627,023.32 March 25, 2037 I-26-B Variable(2) $ 5,824,803.04 March 25, 2037 I-27-A Variable(2) $ 5,611,916.17 March 25, 2037 I-27-B Variable(2) $ 5,611,916.17 March 25, 2037 I-28-B Variable(2) $ 5,412,683.97 March 25, 2037 I-29-A Variable(2) $ 5,220,542.54 March 25, 2037 I-29-B Variable(2) $ 5,220,542.54 March 25, 2037 I-30-B Variable(2) $ 5,035,198.16 March 25, 2037 I-31-B Variable(2) $ 4,856,379.46 March 25, 2037 I-32-A Variable(2) $ 4,683,802.84 March 25, 2037 I-32-B Variable(2) $ 4,683,802.84 March 25, 2037 I-33-B Variable(2) $ 4,517,323.52 March 25, 2037 I-34-B Variable(2) $ 4,356,848.75 March 25, 2037 I-35-B Variable(2) $ 4,202,131.89 March 25, 2037 I-36-B Variable(2) $ 1,159,238.77 March 25, 2037 I-38-A Variable(2) $ 3,128,307.81 March 25, 2037 I-38-B Variable(2) $ 3,128,307.81 March 25, 2037 I-39-A Variable(2) $ 3,017,211.50 March 25, 2037 I-39-B Variable(2) $ 3,017,211.50 March 25, 2037 I-40-A Variable(2) $ 2,910,042.28 March 25, 2037 I-40-B Variable(2) $ 2,910,042.28 March 25, 2037 I-41-B Variable(2) $ 2,806,668.77 March 25, 2037 I-42-B Variable(2) $ 2,706,936.27 March 25, 2037 I-43-B Variable(2) $ 2,610,787.79 March 25, 2037 I-44-A Variable(2) $ 2,518,012.45 March 25, 2037 I-44-B Variable(2) $ 2,518,012.45 March 25, 2037 I-45-B Variable(2) $ 2,428,525.11 March 25, 2037 I-47-A Variable(2) $ 2,258,959.29 March 25, 2037 I-47-B Variable(2) $ 2,258,959.29 March 25, 2037 I-48-A Variable(2) $ 2,178,658.48 March 25, 2037 I-48-B Variable(2) $ 2,178,658.48 March 25, 2037 I-49-B Variable(2) $ 2,101,207.67 March 25, 2037 I-50-A Variable(2) $ 2,026,503.61 March 25, 2037 I-50-B Variable(2) $ 2,026,503.61 March 25, 2037 I-51-B Variable(2) $ 1,954,465.65 March 25, 2037 I-52-A Variable(2) $ 1,884,999.52 March 25, 2037 I-52-B Variable(2) $ 1,884,999.52 March 25, 2037 I-53-B Variable(2) $ 1,818,610.34 March 25, 2037 I-54-B Variable(2) $ 1,755,199.05 March 25, 2037 I-55-B Variable(2) $ 1,694,238.85 March 25, 2037 I-57-B Variable(2) $ 1,576,171.65 March 25, 2037 I-58-B Variable(2) $ 1,520,001.97 March 25, 2037 I-59-B Variable(2) $ 1,465,820.83 March 25, 2037 I-60-A Variable(2) $ 1,413,535.84 March 25, 2037 I-60-B Variable(2) $ 1,413,535.84 March 25, 2037 I-61-B Variable(2) $ 1,363,114.00 March 25, 2037 I-62-A Variable(2) $ 1,314,509.59 March 25, 2037 I-62-B Variable(2) $ 1,314,509.59 March 25, 2037 I-63-A Variable(2) $ 35,403,831.08 March 25, 2037 I-63-B Variable(2) $ 35,403,831.08 March 25, 2037
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B A-1F1 Certificates, (iii) the Class 2-A-1A A-1F2 Certificates, (iv) the Class 2-A-1B A-2A Certificates, (v) the Class 2-A-1C A-2F Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 B-1 Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 X-1 Certificates, (xviii) the Class B-6 Certificates and X-2 Certificates, (xix) the Class B-7 X-S Certificates, (xx) the Class A-R Certificates and (xxi) the Class A-RL Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (eachPre-Funding Account, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Swap Account, the Yield Maintenance AgreementsCapitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and the interests in the Lower-Tier such segregated pool of assets will be designated as “REMIC formed hereby. 1.” The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-RRL Certificates will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-II CertificateThrough Rate and the initial Uncertificated Principal Balance for each of the “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). Each such Lower-Tier Interest is hereby designated as a None of the REMIC regular interest.1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section
Appears in 2 contracts
Samples: Custodial Agreement (Home Equity Mortgage Trust 2005-5), Custodial Agreement (Home Equity Mortgage Trust 2005-5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1A1-A-1A A Certificates, (ii) the Class 1A1-A-1B B Certificates, (iii) the Class 2A1-A-1A C Certificates, (iv) the Class 2-A-1B AM Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 B Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 Certificates, P Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and and, for the Yield Maintenance avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-1-A Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Account2037 1-1-B Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Agreements2037 1-2-A Variable(2) $ 2,392,637.16 September 25, and the interests in the Lower2037 1-Tier 2-B Variable(2) $ 2,392,637.16 September 25, 2037 1-3-A Variable(2) $ 3,515,987.98 September 25, 2037 1-3-B Variable(2) $ 3,515,987.98 September 25, 2037 1-4-A Variable(2) $ 4,652,077.16 September 25, 2037 1-4-B Variable(2) $ 4,652,077.16 September 25, 2037 1-5-A Variable(2) $ 5,790,398.31 September 25, 2037 1-5-B Variable(2) $ 5,790,398.31 September 25, 2037 1-6-A Variable(2) $ 6,916,224.67 September 25, 2037 Designation Uncertificated REMIC formed hereby. The Upper Tier 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-6-B Variable(2) $ 6,916,224.67 September 25, 2037 1-7-A Variable(2) $ 8,020,326.33 September 25, 2037 1-7-B Variable(2) $ 8,020,326.33 September 25, 2037 1-8-A Variable(2) $ 9,083,173.44 September 25, 2037 1-8-B Variable(2) $ 9,083,173.44 September 25, 2037 1-9-A Variable(2) $ 10,058,672.05 September 25, 2037 1-9-B Variable(2) $ 10,058,672.05 September 25, 2037 1-10-A Variable(2) $ 10,765,542.83 September 25, 2037 1-10-B Variable(2) $ 10,765,542.83 September 25, 2037 1-11-A Variable(2) $ 11,463,933.03 September 25, 2037 1-11-B Variable(2) $ 11,463,933.03 September 25, 2037 1-12-A Variable(2) $ 11,644,488.25 September 25, 2037 1-12-B Variable(2) $ 11,644,488.25 September 25, 2037 1-13-A Variable(2) $ 11,067,336.89 September 25, 2037 1-13-B Variable(2) $ 11,067,336.89 September 25, 2037 1-14-A Variable(2) $ 10,518,483.57 September 25, 2037 1-14-B Variable(2) $ 10,518,483.57 September 25, 2037 1-15-A Variable(2) $ 9,996,426.10 September 25, 2037 1-15-B Variable(2) $ 9,996,426.10 September 25, 2037 1-16-A Variable(2) $ 9,499,998.27 September 25, 2037 1-16-B Variable(2) $ 9,499,998.27 September 25, 2037 1-17-A Variable(2) $ 9,027,876.59 September 25, 2037 1-17-B Variable(2) $ 9,027,876.59 September 25, 2037 1-18-A Variable(2) $ 8,578,837.10 September 25, 2037 1-18-B Variable(2) $ 8,578,837.10 September 25, 2037 1-19-A Variable(2) $ 8,151,847.46 September 25, 2037 1-19-B Variable(2) $ 8,151,847.46 September 25, 2037 1-20-A Variable(2) $ 7,798,892.21 September 25, 2037 1-20-B Variable(2) $ 7,798,892.21 September 25, 2037 1-21-A Variable(2) $ 7,396,029.40 September 25, 2037 1-21-B Variable(2) $ 7,396,029.40 September 25, 2037 1-22-A Variable(2) $ 7,016,763.42 September 25, 2037 1-22-B Variable(2) $ 7,016,763.42 September 25, 2037 1-23-A Variable(2) $ 6,425,008.72 September 25, 2037 1-23-B Variable(2) $ 6,425,008.72 September 25, 2037 1-24-A Variable(2) $ 3,611,587.50 September 25, 2037 1-24-B Variable(2) $ 3,611,587.50 September 25, 2037 1-25-A Variable(2) $ 3,502,440.00 September 25, 2037 1-25-B Variable(2) $ 3,502,440.00 September 25, 2037 1-26-A Variable(2) $ 3,396,127.50 September 25, 2037 1-26-B Variable(2) $ 3,396,127.50 September 25, 2037 1-27-A Variable(2) $ 3,293,460.00 September 25, 2037 1-27-B Variable(2) $ 3,293,460.00 September 25, 2037 Designation Uncertificated REMIC shall hold as assets the uncertificated Lower1 Pass-Tier Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-28-A Variable(2) $ 3,193,627.50 September 25, 2037 1-28-B Variable(2) $ 3,193,627.50 September 25, 2037 1-29-A Variable(2) $ 3,096,832.50 September 25, 2037 1-29-B Variable(2) $ 3,096,832.50 September 25, 2037 1-30-A Variable(2) $ 3,003,075.00 September 25, 2037 1-30-B Variable(2) $ 3,003,075.00 September 25, 2037 1-31-A Variable(2) $ 2,911,950.00 September 25, 2037 1-31-B Variable(2) $ 2,911,950.00 September 25, 2037 1-32-A Variable(2) $ 2,823,862.50 September 25, 2037 1-32-B Variable(2) $ 2,823,862.50 September 25, 2037 1-33-A Variable(2) $ 2,738,205.00 September 25, 2037 1-33-B Variable(2) $ 2,738,205.00 September 25, 2037 1-34-A Variable(2) $ 2,654,977.50 September 25, 2037 1-34-B Variable(2) $ 2,654,977.50 September 25, 2037 1-35-A Variable(2) $ 2,574,585.00 September 25, 2037 1-35-B Variable(2) $ 2,574,585.00 September 25, 2037 1-36-A Variable(2) $ 20,079,787.50 September 25, 2037 1-36-B Variable(2) $ 20,079,787.50 September 25, 2037 1-37-A Variable(2) $ 1,882,755.00 September 25, 2037 1-37-B Variable(2) $ 1,882,755.00 September 25, 2037 1-38-A Variable(2) $ 1,825,582.50 September 25, 2037 1-38-B Variable(2) $ 1,825,582.50 September 25, 2037 1-39-A Variable(2) $ 1,770,300.00 September 25, 2037 1-39-B Variable(2) $ 1,770,300.00 September 25, 2037 1-40-A Variable(2) $ 1,716,435.00 September 25, 2037 1-40-B Variable(2) $ 1,716,435.00 September 25, 2037 1-41-A Variable(2) $ 1,664,460.00 September 25, 2037 1-41-B Variable(2) $ 1,664,460.00 September 25, 2037 1-42-A Variable(2) $ 1,613,745.00 September 25, 2037 1-42-B Variable(2) $ 1,613,745.00 September 25, 2037 1-43-A Variable(2) $ 1,564,762.50 September 25, 2037 1-43-B Variable(2) $ 1,564,762.50 September 25, 2037 1-44-A Variable(2) $ 1,517,355.00 September 25, 2037 1-44-B Variable(2) $ 1,517,355.00 September 25, 2037 1-45-A Variable(2) $ 1,471,050.00 September 25, 2037 1-45-B Variable(2) $ 1,471,050.00 September 25, 2037 1-46-A Variable(2) $ 1,426,477.50 September 25, 2037 1-46-B Variable(2) $ 1,426,477.50 September 25, 2037 1-47-A Variable(2) $ 1,383,007.50 September 25, 2037 1-47-B Variable(2) $ 1,383,007.50 September 25, 2037 1-48-A Variable(2) $ 1,341,112.50 September 25, 2037 1-48-B Variable(2) $ 1,341,112.50 September 25, 2037 1-49-A Variable(2) $ 1,300,162.50 September 25, 2037 Designation Uncertificated REMIC Interests1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-49-B Variable(2) $ 1,300,162.50 September 25, other than the Class LT2037 1-R Interest50-A Variable(2) $ 1,260,630.00 September 25, ownership of which shall be evidenced by the Class A2037 1-R50-II Certificate. Each such LowerB Variable(2) $ 1,260,630.00 September 25, 2037 1-Tier Interest is hereby designated as a REMIC regular interest.51-A Variable(2) $ 1,222,357.50 September 25, 2037 1-51-B Variable(2) $ 1,222,357.50 September 25, 2037 1-52-A Variable(2) $ 1,185,030.00 September 25, 2037 1-52-B Variable(2) $ 1,185,030.00 September 25, 2037 1-53-A Variable(2) $ 1,148,962.50 September 25, 2037 1-53-B Variable(2) $ 1,148,962.50 September 25, 2037 1-54-A Variable(2) $ 1,113,997.50 September 25, 2037 1-54-B Variable(2) $ 1,113,997.50 September 25, 2037 1-55-A Variable(2) $ 1,080,135.00 September 25, 2037 1-55-B Variable(2) $ 1,080,135.00 September 25, 2037 1-56-A Variable(2) $ 1,047,217.50 September 25, 2037 1-56-B Variable(2) $ 1,047,217.50 September 25, 2037 1-57-A Variable(2) $ 1,015,245.00 September 25, 2037 1-57-B Variable(2) $ 1,015,245.00 September 25, 2037 1-58-A Variable(2) $ 984,375.00 September 25, 2037 1-58-B Variable(2) $ 984,375.00 September 25, 2037 1-59-A Variable(2) $ 954,292.50 September 25, 2037 1-59-B Variable(2) $ 954,292.50 September 25, 2037 1-60-A Variable(2) $ 30,051,630.00 September 25, 2037 1-60-B Variable(2) $ 30,051,630.00 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 OC Variable(2) $ 196,613,419.09 September 25, 2037 ________________________
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3), Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 Certificates, M-1 Certificates (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Pre-Funding Accounts, the Interest Coverage Accounts, any Subsequent Mortgage Loan Interest, the Net WAC Rate Carryover Reserve Account, the Cap Allocation Agreement, the Cap Account, the Interest Rate Swap Agreement, the Swap Acount, the Supplemental Interest Trust, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Cap Agreement and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Cap Contract) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I-II Certificate. Each such LowerLT1 Variable(2 ) $ 444,210,719.25 February 25, 2037 I-Tier Interest is hereby designated as a REMIC regular interest.LT1PF Variable(2 ) $ 229,839,482.91 February 25, 2000 X-XX0 Variable(2 ) $ 618,617,188.27 February 25, 2037 I-LT2PF Variable(2 ) $ 337,068,542.52 February 25, 2000 X-XXX Variable(2 ) $ 100.00 February 25, 2037 ________________
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 R Certificates, (xviii) the Class B-6 R-X Certificates and (xixix) the Class B-7 FL Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 140,871,814.12 January 2037 I-1-II Certificate. Each such LowerB Variable (2) $ 9,536,276.25 January 2037 I-7-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 7,653,536.25 January 2037 I-13-B Variable (2) $ 3,852,631.25 January 2037 I-15-B Variable (2) $ 1,885,688.75 January 2037 I-20-B Variable (2) $ 1,594,228.75 January 2037 I-21-B Variable (2) $ 1,545,981.25 January 2037 I-24-B Variable (2) $ 1,439,726.25 January 2037 I-33-B Variable (2) $ 984,622.50 January 2037 I-35-B Variable (2) $ 929,523.75 January 2037 I-38-B Variable (2) $ 852,572.50 January 2037 I-39-B Variable (2) $ 828,358.75 January 2037 I-40-B Variable (2) $ 804,826.25 January 2037 I-41-A Variable (2) $ 781,961.25 January 2037 I-41-B Variable (2) $ 781,961.25 January 2037 I-42-A Variable (2) $ 759,740.00 January 2037 I-42-B Variable (2) $ 759,740.00 January 2037 I-44-B Variable (2) $ 717,166.25 January 2037 I-45-A Variable (2) $ 696,776.25 January 2037 I-45-B Variable (2) $ 696,776.25 January 2037 I-47-B Variable (2) $ 657,787.50 January 2037 I-48-B Variable (2) $ 638,938.75 January 2037 I-49-B Variable (2) $ 620,763.75 January 2037 I-50-A Variable (2) $ 603,101.25 January 2037 I-50-B Variable (2) $ 603,101.25 January 2037 I-51-A Variable (2) $ 20,407,328.75 January 2037 I-51-B Variable (2) $ 20,407,328.75 January 2037 P Variable (2) $ 100.00 January 2037 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-two Classes of certificatesCertificates, designated as (i) the Class 1-A-1A AF-1A, Class AF-1B, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class 2-A-1A B-1 and Class B-2 Certificates, (iv) the Class 2-A-1B P Certificates, (v) the Class 2-A-1C CE-1 and Class CE-2 Certificates, (vi) the Class X-1 Certificates, R Certificates and (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II X Certificates. The Depositor hereby assigns to the Trustee, (xii) acting on behalf of the Class P Certificates, (xiii) Certificateholders its interests and rights in the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, for federal income tax purposes, the Trustee shall will elect that to treat the Trust Fund segregated pools of assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsSwap Account) be treated for federal income tax purposes as comprising two ten real estate mortgage investment conduits (each, a “REMIC”): Subsidiary REMIC 1, Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class XX XXXXX, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” or, in Subsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in Subsidiary REMIC 1. Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the alternativeIntermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “Lower-Tier regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC” . The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the “Upper-Tier REMIC”). Each Certificate, interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate CE-1, Class CE-2, Class P, Class M-7, Class M-8 and Class B Certificates), the Class CEM Interest, the Class PM Interest, the Class M-7M Interest, the Class M-8M Interest and the two Class A-R-II CertificateBM Interests, shall which will represent ownership of a the “regular interest interests” in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class XX XXXXX. The assets of the Class XX XXXXX will consist of the Class CEM Interest in the Master REMIC and interests in the Class XX XXXXX will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class XX XXXXX and (ii) the Class CER-A-1AX Interest, which will represent the single class of “residual interest” in the Class XX XXXXX. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold the Class M-7M Interest in the Master REMIC for the benefit of the Class M-7 REMIC. The assets of the Class M-7 REMIC will consist of the Class M-7M Interest in the Master REMIC and interests in the Class M-7 REMIC will be evidenced by (i) the Class M-7 Certificate, which will represent the “regular interest” in the Class M-7 REMIC and (ii) the uncertificated Class M-7R Interest, which will represent the single class of “residual interest” in the Class M-7 REMIC. The Trustee will hold the Class M-8M Interest in the Master REMIC for the benefit of the Class M-8 REMIC. The assets of the Class M-8 REMIC will consist of the Class M-8M Interest in the Master REMIC and interests in the Class M-8 REMIC will be evidenced by (i) the Class M-8 Certificate, which will represent the “regular interest” in the Class M-8 REMIC and (ii) the uncertificated Class M-8R Interest, which will represent the single class of “residual interest” in the Class M-8 REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class 1-A-1B, Class 2-A-1A, Class 2-A-1BIR, and Class MR Interests, and the Class R-X Certificates will represent ownership of the residual interest in each of the Subsidiary REMIC 2-A-1C Certificates represent , Class XX XXXXX, the right to receive payments in respect of Basis Risk Shortfalls from Class P REMIC, the Yield Maintenance Account as provided in Section 4.04Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. The owners “latest possible maturity date” for federal income tax purposes of all REMICs, and regular and residual interests created hereunder is the 36th month following the month of the Class X-1 and Class X-2 Certificates beneficially own scheduled maturity of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest Mortgage Loan held in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than Closing Date having the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestlatest maturity date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass 2007-Cb1 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 2005-5 AR5 DSLA Mortgage Loan Pass-Through Certificates, Series 2005-5 AR5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A Certificates, (iv) the Class 2-A-1B A1B Certificates, (v) the Class 2-A-1C X-1 Certificates, (vi) the Class X-1 X-2 Certificates, (vii) the Class X-2 Certificates, PO Certificates (viii) the Class PO-1 CertificatesA-R Certificate, (ix) the Class PO-2 B-1 Certificates, (x) the Class A-R B-2 Certificates, (xi)) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates, (xv) the Class B-7 Certificates and (xvi) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA1A, Class 1-A-1BA1B, Class 2-A-1AA1A, Class 2-A-1B, Class 2-A-1CA1B, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 B-6, and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Shortfalls. The owners of the Class X-1 and Class X-2 Certificates beneficially own Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the ownership of the sole class of residual interest in each of the UpperMiddle-Tier REMIC and the Upper-Tier REMIC. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsInterests in the Lower-Tier REMIC, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests in the Middle-Tier REMIC, other than the Class MT-R Interest, and each such Middle-Tier Interest is hereby designated as a regular interestinterest in the Middle-Tier REMIC.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Dsla Mortgage Loan Trust 2005-Ar5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052006-5 4 Mortgage Loan Pass-Through Certificates, Series 20052006-5 4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirty classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 21-A-1A A2A Certificates, (iv) the Class 21-A-1B A2B Certificates, (v) the Class 2-A-1C A1A Certificates, (vi) the Class X-1 2-A1B Certificates, (vii) the Class X-2 2-A1C Certificates, (viii) the Class PO-1 3-A1A Certificates, (ix) the Class PO-2 3-A1B Certificates, (x) the Class 3-A1C Certificates, (xi) the Class X-1 Certificates, (xii) the Class X-3A Certificates, (xiii) the Class X-B Certificates, (xiv) the Class PO-1 Certificates, (xv) the Class PO-3A Certificates, (xvi) the Class PO-B Certificates, (xvii) the Class A-R Certificates, (xi)xviii) the Class B-1 Certificates, (xix) the Class B-2 Certificates, (xx) the Class B-3 Certificates, (xxi) the Class B-4 Certificates, (xxii) the Class B-5 Certificates, (xxiii) the Class B-6 Certificates, (xxiv) the Class B-7 Certificates, (xxv) the Class B-8 Certificates, (xxvi) the Class B-9 Certificates, (xxvii) the Class B-10 Certificates, (xxviii) the Class B-11 Certificates, (xxix) the Class B-12 Certificates and (xxx) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsFund) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 X-1, Class X-3A and Class X-2 X-B Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance AccountFund. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Fund and the interests in the Lower-Tier REMIC formed herebyInterests and the Middle-Tier REMIC Interests. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1A1 (1) $ 565,118,816.17 Group 1A1 LT-Group 1A1 SCA (1) $ 593,996.12 Group 1A1 LT-Group 1A2 (2) $ 389,637,047.25 Group 1A2 LT-Group 1A2 SCA (2) $ 409,544.92 Group 1A2 LT-Group 2 (3) $ 711,065,671.16 Group 2 LT-Group 2 SCA (3) $ 747,409.81 Group 2 LT-Group 3 (4) $ 215,817,487.38 Group 3 LT-Group 3 SCA (4) $ 226,842.30 Group 3 LT-R (5) (5) N/A
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052004-5 10 Mortgage Loan Pass-Through Certificates, Series 20052004-5 10 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2A Certificates, (iii) the Class 21-A-1A A-2B Certificates, (iv) the Class 2-A-1B A Certificates, (v) the Class 23-A-1C A-1A Certificates, (vi) the Class X-1 3 A 1B Certificates, (vii) the Class X-2 4-A Certificates, (viii) the Class PO-1 X-1 Certificates, (ix) the Class PO-2 X-2 Certificates, (x) the Class X-3 Certificates, (xi) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P B-1 Certificates, (xiii) the Class B-1 B-2 Certificates, (xiv) the Class B-2 B-3 Certificates, (xv) the Class B-3 B-4 Certificates, (xvi) the Class B-4 B-5 Certificates, (xvii) the Class B-5 B-6 Certificates, (xviii) the Class B-6 Certificates P Certificate and (xix) the Class B-7 CertificatesY Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class P, Class Y and Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners Each of the Class X-1 P and Class X-2 Y Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the Upper-Tier REMIC and excess, if any, of amounts paid with respect to the Class A-R-II Certificate represents Yield Maintenance Agreement in excess of the sole class of residual interest in Yield Maintenance Distributable Amount for the Lower-Tier REMICYield Maintenance Agreement. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower Tier REMIC Class Designation Interest Rate Initial Class Principal Balance Related Loan Group Class LT-Group 1 (1) $ 158,612,755.32 Group1 Class LT-SC1 (1) $ 123,815.71 Group 1 Class LT-Group 2 (2) $ 115,245,188.61 Group 2 Class LT-SC2 (2) $ 89,961.50 Group 2 Class LT-Group 3 (3) $ 279,719,560.29 Group 3 Class LT-SC3 (3) $ 218,359.19 Group 3 Class LT-Group 4 (4) $ 174,016,743.64 Group 4 Class LT-SC4 (4) $ 135,844.89 Group 4 Class LT-R (5) (5) N/A _________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-10)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 R Certificates, (xviii) the Class B-6 R-CX Certificates and (xix) the Class B-7 R-PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 IX $129,509,320.86 Variable2 May 25, 2047 I-1-A $ 1,955,190.52 Variable2 May 25, 2047 I-1-B $ 1,955,190.52 Xxxxxxxx0 Xxx 00, 0000 I-2-B $ 2,478,702.37 Xxxxxxxx0 Xxx 00, 0000 I-3-B $ 2,936,857.68 Xxxxxxxx0 Xxx 00, 0000 I-4-B $ 3,383,948.09 Xxxxxxxx0 Xxx 00, 0000 I-5-B $ 1,086,748.06 Xxxxxxxx0 Xxx 00, 0000 X-0-X $ 1,533,744.66 Variable2 May 25, 2047 I-6-B $ 1,533,744.66 Xxxxxxxx0 Xxx 00, 0000 X-0-X $ 1,933,650.21 Variable2 May 25, 2047 I-7-B $ 1,933,650.21 Xxxxxxxx0 Xxx 00, 0000 X-0-X $ 2,365,426.69 Variable2 May 25, 2047 I-8-B $ 2,365,426.69 Xxxxxxxx0 Xxx 00, 0000 I-9-B $ 3,103,020.97 Variable2 May 25, 2047 I-10-B $ 4,330,930.90 Variable2 May 25, 2047 I-11-A $ 5,518,260.80 Variable2 May 25, 2047 I-11-B $ 5,518,260.80 Variable2 May 25, 2047 I-12-A $ 5,812,419.67 Variable2 May 25, 2047 I-12-B $ 5,812,419.67 Variable2 May 25, 2047 I-13-A $ 5,579,166.42 Variable2 May 25, 2047 I-13-B $ 5,579,166.42 Variable2 May 25, 2047 I-14-A $ 5,259,276.62 Variable2 May 25, 2047 I-14-B $ 5,259,276.62 Variable2 May 25, 2047 I-15-A $ 4,946,674.17 Variable2 May 25, 2047 I-15-B $ 4,946,674.17 Variable2 May 25, 2047 I-16-A $ 4,677,720.88 Variable2 May 25, 2047 I-16-B $ 4,677,720.88 Variable2 May 25, 2047 I-17-A $ 4,478,668.50 Variable2 May 25, 2047 I-17-B $ 4,478,668.50 Variable2 May 25, 2047 I-18-A $ 4,273,483.34 Variable2 May 25, 2047 I-18-B $ 4,273,483.34 Variable2 May 25, 2047 I-19-A $ 4,049,969.15 Variable2 May 25, 2047 I-19-B $ 4,049,969.15 Variable2 May 25, 2047 I-20-A $ 3,835,204.58 Variable2 May 25, 2047 I-20-B $ 3,835,204.58 Variable2 May 25, 2047 I-21-A $ 4,830,929.47 Variable2 May 25, 2047 I-21-B $ 4,830,929.47 Variable2 May 25, 2047 I-22-B $ 59,187,491.39 Variable2 May 25, 2047 I-23-A $ 6,003,384.40 Variable2 May 25, 2047 I-23-B $ 6,003,384.40 Variable2 May 25, 2047 I-24-A $ 5,129,553.91 Variable2 May 25, 2047 I-24-B $ 5,129,553.91 Variable2 May 25, 2047 I-25-A $ 4,219,558.16 Variable2 May 25, 2047 I-25-B $ 4,219,558.16 Variable2 May 25, 2047 I-26-A $ 3,618,746.37 Variable2 May 25, 2047 I-26-B $ 3,618,746.37 Variable2 May 25, 2047 I-27-A $ 3,195,050.89 Variable2 May 25, 2047 I-27-B $ 3,195,050.89 Variable2 May 25, 2047 I-28-A $ 2,877,192.27 Variable2 May 25, 2047 I-28-B $ 2,877,192.27 Variable2 May 25, 2047 I-29-A $ 2,606,574.65 Variable2 May 25, 2047 I-29-B $ 2,606,574.65 Variable2 May 25, 2047 I-30-A $ 2,445,444.33 Variable2 May 25, 2047 I-30-B $ 2,445,444.33 Variable2 May 25, 2047 I-31-A $ 2,316,424.69 Variable2 May 25, 2047 I-31-B $ 2,316,424.69 Variable2 May 25, 2047 I-32-A $ 2,217,421.38 Variable2 May 25, 2047 I-32-B $ 2,217,421.38 Variable2 May 25, 2047 I-33-A $ 2,593,673.98 Variable2 May 25, 2047 I-33-B $ 2,593,673.98 Variable2 May 25, 2047 I-34-A $ 3,138,512.27 Variable2 May 25, 2047 I-34-B $ 3,138,512.27 Variable2 May 25, 2047 I-35-A $ 424,034.75 Variable2 May 25, 2047 I-35-B $ 424,034.75 Variable2 May 25, 2047 I-36-A $ 4,372,967.67 Variable2 May 25, 2047 I-36-B $ 4,372,967.67 Variable2 May 25, 2047 I-37-A $ 2,121,274.28 Variable2 May 25, 2047 I-37-B $ 2,121,274.28 Variable2 May 25, 2047 I-38-A $ 1,961,580.35 Variable2 May 25, 2047 I-38-B $ 1,961,580.35 Variable2 May 25, 2047 I-39-A $ 1,817,984.10 Variable2 May 25, 2047 I-39-B $ 1,817,984.10 Variable2 May 25, 2047 I-40-A $ 1,697,199.39 Variable2 May 25, 2047 I-40-B $ 1,697,199.39 Variable2 May 25, 2047 I-41-A $ 1,593,754.09 Variable2 May 25, 2047 I-41-B $ 1,593,754.09 Variable2 May 25, 2047 I-42-A $ 1,490,041.84 Variable2 May 25, 2047 I-42-B $ 1,490,041.84 Variable2 May 25, 2047 I-43-A $ 1,396,433.02 Variable2 May 25, 2047 I-43-B $ 1,396,433.02 Variable2 May 25, 2047 I-44-A $ 1,291,816.38 Variable2 May 25, 2047 I-44-B $ 1,291,816.38 Variable2 May 25, 2047 I-45-A $ 1,257,902.84 Variable2 May 25, 2047 I-45-B $ 1,257,902.84 Variable2 May 25, 2047 I-46-B $ 1,224,724.15 Variable2 May 25, 2047 I-47-A $ 1,183,164.01 Variable2 May 25, 2047 I-47-B $ 1,183,164.01 Variable2 May 25, 2047 I-48-A $ 1,154,768.08 Variable2 May 25, 2047 I-48-B $ 1,154,768.08 Variable2 May 25, 2047 I-49-A $ 1,121,669.11 Variable2 May 25, 2047 I-49-B $ 1,121,669.11 Variable2 May 25, 2047 I-50-A $ 1,099,979.62 Variable2 May 25, 2047 I-50-B $ 1,099,979.62 Variable2 May 25, 2047 I-51-A $ 1,072,576.92 Variable2 May 25, 2047 I-51-B $ 1,072,576.92 Variable2 May 25, 2047 I-52-A $ 1,045,428.43 Variable2 May 25, 2047 I-52-B $ 1,045,428.43 Variable2 May 25, 2047 I-53-A $ 1,018,205.92 Variable2 May 25, 2047 I-53-B $ 1,018,205.92 Variable2 May 25, 2047 I-54-A $ 991,121.37 Variable2 May 25, 2047 I-54-B $ 991,121.37 Variable2 May 25, 2047 I-55-A $ 964,810.47 Variable2 May 25, 2047 I-55-B $ 964,810.47 Variable2 May 25, 2047 I-56-A $ 928,957.07 Variable2 May 25, 2047 I-56-B $ 928,957.07 Variable2 May 25, 2047 I-57-A $ 891,368.93 Variable2 May 25, 2047 I-57-B $ 891,368.93 Variable2 May 25, 2047 I-58-A $ 852,206.84 Variable2 May 25, 2047 I-58-B $ 852,206.84 Variable2 May 25, 2047 I-59-A $ 27,587,521.32 Variable2 May 25, 2047 I-59-B $ 27,587,521.32 Variable2 May 25, 2047 IIX $210,811,616.18 Variable2 May 25, 2047 II-1-A $ 3,182,601.48 Variable2 May 25, 2047 II-1-B $ 3,182,601.48 Variable2 May 25, 2047 II-2-A $ 4,034,758.63 Variable2 May 25, 2047 II-2-B $ 4,034,758.63 Variable2 May 25, 2047 II-3-A $ 4,780,530.32 Variable2 May 25, 2047 II-3-B $ 4,780,530.32 Variable2 May 25, 2047 II-4-A $ 5,508,290.91 Variable2 May 25, 2047 II-4-B $ 5,508,290.91 Variable2 May 25, 2047 II-5-A $ 1,768,976.44 Variable2 May 25, 2047 II-5-B $ 1,768,976.44 Variable2 May 25, 2047 II-6-A $ 2,496,584.34 Variable2 May 25, 2047 II-6-B $ 2,496,584.34 Variable2 May 25, 2047 II-7-A $ 3,147,538.79 Variable2 May 25, 2047 II-7-B $ 3,147,538.79 Variable2 May 25, 2047 II-8-A $ 3,850,371.81 Variable2 May 25, 2047 II-8-B $ 3,850,371.81 Variable2 May 25, 2047 II-9-A $ 5,051,006.03 Variable2 May 25, 2047 II-9-B $ 5,051,006.03 Variable2 May 25, 2047 II-10-A $ 7,049,761.60 Variable2 May 25, 2047 II-10-B $ 7,049,761.60 Variable2 May 25, 2047 II-11-A $ 8,982,462.20 Variable2 May 25, 2047 II-11-B $ 8,982,462.20 Variable2 May 25, 2047 II-12-A $ 9,461,285.33 Variable2 May 25, 2047 II-12-B $ 9,461,285.33 Variable2 May 25, 2047 II-13-A $ 9,081,602.58 Variable2 May 25, 2047 II-13-B $ 9,081,602.58 Variable2 May 25, 2047 II-14-A $ 8,560,895.38 Variable2 May 25, 2047 II-14-B $ 8,560,895.38 Variable2 May 25, 2047 II-15-A $ 8,052,050.33 Variable2 May 25, 2047 II-15-B $ 8,052,050.33 Variable2 May 25, 2047 II-16-A $ 7,614,256.12 Variable2 May 25, 2047 II-16-B $ 7,614,256.12 Variable2 May 25, 2047 II-17-A $ 7,290,244.50 Variable2 May 25, 2047 II-17-B $ 7,290,244.50 Variable2 May 25, 2047 II-18-A $ 6,956,250.16 Variable2 May 25, 2047 II-18-B $ 6,956,250.16 Variable2 May 25, 2047 II-19-A $ 6,592,420.35 Variable2 May 25, 2047 II-19-B $ 6,592,420.35 Variable2 May 25, 2047 II-20-A $ 6,242,832.92 Variable2 May 25, 2047 II-20-B $ 6,242,832.92 Variable2 May 25, 2047 II-21-A $ 7,863,644.53 Variable2 May 25, 2047 II-21-B $ 7,863,644.53 Variable2 May 25, 2047 II-22-A $ 6,343,653.11 Variable2 May 25, 2047 II-22-B $ 96,343,653.11 Variable2 May 25, 2047 II-23-A $ 9,772,132.10 Variable2 May 25, 2047 II-23-B $ 9,772,132.10 Variable2 May 25, 2047 II-24-A $ 8,349,736.59 Variable2 May 25, 2047 II-24-B $ 8,349,736.59 Variable2 May 25, 2047 II-25-A $ 6,868,472.34 Variable2 May 25, 2047 II-25-B $ 6,868,472.34 Variable2 May 25, 2047 II-26-A $ 5,890,488.63 Variable2 May 25, 2047 II-26-B $ 5,890,488.63 Variable2 May 25, 2047 II-27-A $ 5,200,809.61 Variable2 May 25, 2047 II-27-B $ 5,200,809.61 Variable2 May 25, 2047 II-28-A $ 4,683,408.73 Variable2 May 25, 2047 II-28-B $ 4,683,408.73 Variable2 May 25, 2047 II-29-A $ 4,242,905.35 Variable2 May 25, 2047 II-29-B $ 4,242,905.35 Variable2 May 25, 2047 II-30-A $ 3,980,622.17 Variable2 May 25, 2047 II-30-B $ 3,980,622.17 Variable2 May 25, 2047 II-31-A $ 3,770,607.81 Variable2 May 25, 2047 II-31-B $ 3,770,607.81 Variable2 May 25, 2047 II-32-A $ 3,609,453.12 Variable2 May 25, 2047 II-32-B $ 3,609,453.12 Variable2 May 25, 2047 II-33-A $ 4,221,906.02 Variable2 May 25, 2047 II-33-B $ 4,221,906.02 Variable2 May 25, 2047 II-34-A $ 5,108,777.73 Variable2 May 25, 2047 II-34-B $ 5,108,777.73 Variable2 May 25, 2047 II-35-A $ 690,231.25 Variable2 May 25, 2047 II-35-B $ 690,231.25 Variable2 May 25, 2047 II-36-A $ 7,118,187.83 Variable2 May 25, 2047 II-36-B $ 7,118,187.83 Variable2 May 25, 2047 II-37-A $ 3,452,947.72 Variable2 May 25, 2047 II-37-B $ 3,452,947.72 Variable2 May 25, 2047 II-38-A $ 3,193,002.65 Variable2 May 25, 2047 II-38-B $ 3,193,002.65 Variable2 May 25, 2047 II-39-A $ 2,959,260.90 Variable2 May 25, 2047 II-39-B $ 2,959,260.90 Variable2 May 25, 2047 II-40-A $ 2,762,651.11 Variable2 May 25, 2047 II-40-B $ 2,762,651.11 Variable2 May 25, 2047 II-41-A $ 2,594,265.91 Variable2 May 25, 2047 II-41-B $ 2,594,265.91 Variable2 May 25, 2047 II-42-A $ 2,425,446.16 Variable2 May 25, 2047 II-42-B $ 2,425,446.16 Variable2 May 25, 2047 II-43-A $ 2,273,072.48 Variable2 May 25, 2047 II-43-B $ 2,273,072.48 Variable2 May 25, 2047 II-44-A $ 2,102,780.62 Variable2 May 25, 2047 II-44-B $ 2,102,780.62 Variable2 May 25, 2047 II-45-A $ 2,047,577.16 Variable2 May 25, 2047 II-45-B $ 2,047,577.16 Variable2 May 25, 2047 II-46-A $ 1,993,569.85 Variable2 May 25, 2047 II-46-B $ 1,993,569.85 Variable2 May 25, 2047 II-47-A $ 1,925,919.49 Variable2 May 25, 2047 II-47-B $ 1,925,919.49 Variable2 May 25, 2047 II-48-A $ 1,879,697.42 Variable2 May 25, 2047 II-48-B $ 1,879,697.42 Variable2 May 25, 2047 II-49-A $ 1,825,819.89 Variable2 May 25, 2047 II-49-B $ 1,825,819.89 Variable2 May 25, 2047 II-50-A $ 1,790,514.38 Variable2 May 25, 2047 II-50-B $ 1,790,514.38 Variable2 May 25, 2047 II-51-A $ 1,745,909.08 Variable2 May 25, 2047 II-51-B $ 1,745,909.08 Variable2 May 25, 2047 II-52-A $ 1,701,717.57 Variable2 May 25, 2047 II-52-B $ 1,701,717.57 Variable2 May 25, 2047 II-53-A $ 1,657,405.58 Variable2 May 25, 2047 II-53-B $ 1,657,405.58 Variable2 May 25, 2047 II-54-A $ 1,613,318.13 Variable2 May 25, 2047 II-54-B $ 1,613,318.13 Variable2 May 25, 2047 II-55-A $ 1,570,490.03 Variable2 May 25, 2047 II-55-B $ 1,570,490.03 Variable2 May 25, 2047 II-56-A $ 1,512,128.93 Variable2 May 25, 2047 II-56-B $ 1,512,128.93 Variable2 May 25, 2047 II-57-A $ 1,450,944.07 Variable2 May 25, 2047 II-57-B $ 1,450,944.07 Variable2 May 25, 2047 II-58-A $ 1,387,197.16 Variable2 May 25, 2047 II-58-B $ 1,387,197.16 Variable2 May 25, 2047 II-59-A $ 44,906,153.68 Variable2 May 25, 2047 II-59-B $ 44,906,153.68 Variable2 May 25, 2047 P $ 100.00 Variable2 May 25, 2047 _________________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier Through Rate” herein. REMIC 2 As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class A-R-II Certificate represents R-2 Interest shall represent the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $780,895,878.44 Variable2 May 25, 2047 A-IA $ 2,457,750.00 Variable2 May 25, 2047 A-IIA1 $ 1,787,125.00 Variable2 May 25, 2047 A-IIA2 $ 626,610.00 Variable2 May 25, 2047 A-IIA3 $ 997,070.00 Variable2 May 25, 2047 A-IIA4 $ 589,775.00 Variable2 May 25, 2047 M1 $ 254,985.00 Variable2 May 25, 2047 M2 $ 223,115.00 Variable2 May 25, 2047 M3 $ 135,460.00 Variable2 May 25, 2047 M4 $ 119,525.00 Variable2 May 25, 2047 M5 $ 115,540.00 Variable2 May 25, 2047 M6 $ 107,570.00 Variable2 May 25, 2047 M7 $ 103,590.00 Variable2 May 25, 2047 M8 $ 63,745.00 Variable2 May 25, 2047 M9 $ 87,655.00 Variable2 May 25, 2047 ZZ $ 8,267,135.58 Variable2 May 25, 2047 1GRP $ 11,492.04 Variable2 May 25, 2047 1SUB $ 60,647.04 Variable2 May 25, 2047 2GRP $ 18,707.87 Variable2 May 25, 2047 2SUB $ 98,719.47 Variable2 May 25, 2047 Swap IO N/A3 Variable2 May 25, 2047 FMR IO N/A4 Variable2 May 25, 2047 XX $796,642,962.59 Variable2 May 25, 2047 ________________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property month following the month of the Trust Fund other than maturity date for the assets held in Mortgage Loan with the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a REMIC regular interestprincipal amount but will accrue interest on its Uncertificated Notional Amount, as defined herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "Certificates"), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty Classes of certificatesCertificates, designated as (i) the Class 1-A-1A AV, Class AF-1, Class AF-2, Class AF-3 and Class AF-4 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, (iii) the Class 2-A-1A B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class 2-A-1B P Certificates, (v) the Class 2-A-1C CE Certificates, (vi) the Class X-1 Certificates, R Certificates and (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II X Certificates. The Depositor hereby assigns to the Trustee, (xii) acting on behalf of the Class P Certificates, (xiii) Certificateholders its interests and rights in the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, for federal income tax purposes, the Trustee shall will elect that to treat the Trust Fund segregated pools of assets subject to this Agreement (exclusive of the assets held in Senior Cap Account, the Mezzanine Cap Account, the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsFinal Maturity Reserve Fund) be treated for federal income tax purposes as comprising two nine real estate mortgage investment conduits (each, a “"REMIC” or"): the Subsidiary REMIC, the Intermediate REMIC, the Master REMIC, the Class XX XXXXX, the Class P REMIC and the four Class B REMICs. The Subsidiary REMIC will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans. The Subsidiary REMIC will issue (1) the REMIC regular interests (the "Subsidiary REMIC Regular Interests") and (2) the SR Interest. The Subsidiary REMIC Regular Interests will be uncertificated and will represent the "regular interests" in the alternative, the “Lower-Tier REMIC” Subsidiary REMIC and the “Upper-Tier SR Interest will represent the single class of "residual interest" in the Subsidiary REMIC”). Each CertificateThe Trustee will hold the Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the "regular interests" in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate CE, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class A-R-II CertificateBM Interests, shall which will represent ownership of a the "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1-A-1AMR Interest, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates which will represent the right to receive payments single class of "residual interest" in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Master REMIC. The owners Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class X-1 XX XXXXX. The assets of the Class XX XXXXX will consist of the Class CEM Interest in the Master REMIC and interests in the Class X-2 Certificates beneficially own XX XXXXX will be evidenced by (i) the Basis Risk Reserve Fund Class CE Certificate, which will represent the "regular interests" in the Class XX XXXXX and (ii) the Yield Maintenance AccountClass CER-X Interest, which will represent the single class of "residual interest" in the Class XX XXXXX. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the "regular interests" in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of "residual interest" in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the "regular interest" in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of "residual interest" in that Class B REMIC. The Class P Certificate represents an interest in R Certificates will represent the Trust Fund but does not Class SR, Class IR and Class MR Interests, and the Class R-X Certificates will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each of the Upper-Tier Class XX XXXXX, Class P REMIC and the four Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICB REMICs. The Lower-Tier REMIC shall hold as assets "latest possible maturity date" for federal income tax purposes of all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsREMICs, and regular and residual interests created hereunder will be the interests in the Lower-Tier REMIC formed herebyLatest Possible Maturity Date. The Upper Tier Subsidiary REMIC shall hold as assets the uncertificated Lower-Tier -------------------- The Subsidiary REMIC Interests, other than each of which (except for the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest SR Interests) is hereby designated as a REMIC regular interest.interest for federal income tax purposes, will have the principal balances, pass-through rates and Corresponding Loan Groups as set forth in the following table:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass 2006-Cb2 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A A‑1 Certificates, (ii) the Class 1-A-1B A‑2 Certificates, (iii) the Class 2-A-1A A‑3 Certificates, (iv) the Class 2-A-1B M‑1 Certificates, (v) the Class 2-A-1C M‑2 Certificates, (vi) the Class X-1 M‑3 Certificates, (vii) the Class X-2 M‑4 Certificates, (viii) the Class PO-1 M‑5 Certificates, (ix) the Class PO-2 M‑6 Certificates, (x) the Class A-R M‑7 Certificates, (xi), ) the Class A-R-II B‑1 Certificates, (xii) the Class P B‑2 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 Certificates, P Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Reserve Fund Cap Account, the Cap Agreement and the Yield Maintenance Account and the Yield Maintenance AgreementsMaster Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass-Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Tier REMIC” and Through Rate Assumed Final Maturity Date1 AA 521,967,096.26 Variable2 May, 2036 A1 2,607,930.00 Variable2 May, 2036 A2 749,970.00 Variable2 May, 2036 A3 199,990.00 Variable2 May, 2036 M1 580,560.00 Variable2 May, 2036 M2 141,140.00 Variable2 May, 2036 M3 258,320.00 Variable2 May, 2036 M4 106,530.00 Variable2 May, 2036 M5 125,160.00 Variable2 May, 2036 M6 90,550.00 Variable2 May, 2036 M7 98,530.00 Variable2 May, 2036 B-1 151,800.00 Variable2 May, 2036 B-2 90,550.00 Variable2 May, 2036 ZZ 5,451,359.72 Variable2 May, 2036 P 100.00 Variable2 May, 2036 ________________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “Upperlatest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described Through Rate” herein. In additionREMIC 2 As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 1 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class such segregated pool of assets shall be designated as “REMIC 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. .” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R-2 Interest represents the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 2 and each class of uncertificated “regular interests” in REMIC 2: Class Designation Original Class Certificate Principal Balance Pass-Through Rate Assumed Final Maturity Date1 A-1 $260,793,000.00 Variable2 May, 2036 A-2 74,997,000.00 Variable2 May, 2036 A-3 19,999,000.00 Variable2 May, 2036 M‑1 58,056,000.00 Variable2 May, 2036 M‑2 14,114,000.00 Variable2 May, 2036 M‑3 25,832,000.00 Variable2 May, 2036 M‑4 10,653,000.00 Variable2 May, 2036 M‑5 12,516,000.00 Variable2 May, 2036 M‑6 9,055,000.00 Variable2 May, 2036 M‑7 9,853,000.00 Variable2 May, 2036 B‑1 15,180,000.00 Variable2 May, 2036 B‑2 9,055,000.00 Variable2 May, 2036 C3 12,516,485.98 Variable2 May, 2036 P 100.00 N/A4 May, 2036 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates. 2 Calculated in accordance with the definition of “Pass-Tier Through Rate” herein. 3 The Class C Certificates will accrue interest at their variable Pass-Through Rate on their Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC1 Regular Interests. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed herebyClass C Certificates will not accrue interest on their Uncertificated Principal Balance. 4 The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular P Certificates will not accrue interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-A)
PRELIMINARY STATEMENT. On March 23, 2005 the Depositor formed Xxxxxxxxx Mortgage Securities Trust 2005-1, as a Delaware statutory trust (the “Trust”) pursuant to the Trust Agreement, dated as of March 23, 2005 (the “Original Trust Agreement”), among the Depositor, the Trustee and the Delaware Trustee. The parties to this Agreement desire to amend and restate the Original Trust Agreement in its entirety, and, as evidenced by their signatures hereto, the Original Trust Agreement is hereby amended, restated and replaced in its entirety as of the date first written above by this Agreement. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from Xxxxxxxxx. On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust and receive in consideration therefor Certificates evidencing the entire beneficial ownership of the Trust. The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C A-5 Certificates, (vi) the Class X-1 CertificatesA-R Certificate, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II Certificates, B-5 Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held Additional Collateral) is comprised of two REMICs in a tiered REMIC structure – the Basis Risk Reserve Fund lower tier REMIC (the “Lower Tier REMIC”) and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits upper tier REMIC (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each CertificateThe Lower Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Additional Collateral) and will issue interests (the “Lower Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower Tier REMIC. The Trustee will hold the Lower Tier Regular Interests as assets of the Upper Tier REMIC. The Certificates, other than the Class A-R Certificate Certificate, will represent “regular interests” in the Upper Tier REMIC, and the Class A-R-II R Certificate, shall which will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interest” in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than well as ownership of the Class LT-R Interest. For purposes of the REMIC Provisions, ownership of which shall the startup day is the Closing Date. All REMIC regular and residual interests created hereby will be evidenced by retired on or before the Latest Possible Maturity Date. Lower Tier REMIC The following table irrevocably specifies the Class A-R-II Certificate. Each such Lower-designation, interest rate, principal amount and Corresponding Classes of Certificates for each class of Lower Tier Regular Interests: Lower Tier Class Designation Lower Tier Interest is hereby designated as a REMIC regular interest.Rate Initial Class Principal Amount Corresponding Pool or Corresponding Class of Certificates Class LT-Group 1 (1) $ 212,700,223.71 1 Class LT-Group 1 SCA (1) $ 67,021.45 1 Class LT-Group 2 (2) $ 213,997,050.80 2 Class LT-Group 2 SCA (2) $ 67,434.86 2 Class LT-Group 3 (3) $ 373,133,860.10 3 Class LT-Group 3 SCA (3) $ 117,574.34 3 Class LT-Group 4 (4) $ 223,982,587.71 4 Class LT-Group 4 SCA (4) $ 70,581.69 4 Class LT-Group 5 (5) $ 240,893,536.73 5 Class LT-Group 5 SCA (5) $ 75,904.41 5 Class LT-R (6) (6) LT-R __________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2005-1)
PRELIMINARY STATEMENT. On January 27, 2003 the Seller formed Xxxxxxxxx Mortgage Securities Trust 2003-1, as a Delaware statutory trust (the “Trust”) pursuant to the Trust Agreement, dated January 27, 2003 (the “Original Trust Agreement”), among the Seller, the Trustee and the Delaware Trustee. The parties to this Agreement desire to amend and restate the Original Trust Agreement in its entirety, and, as evidenced by their signatures hereto, the Original Trust Agreement is hereby amended, restated and replaced in its entirety as of the date first written above by this Agreement. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052003-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eleven classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2A-A-1C CertificatesR Certificate, (vi) the Class X-1 B-1 Certificates, (vii) the Class X-2 B-2 Certificates, (viii) the Class PO-1 B-3 Certificates, (ix) the Class PO-2 B-4 Certificates, (x) the Class A-R Certificates, B-5 Certificates and (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held Additional Collateral) is comprised of two REMICs in a tiered REMIC structure – the Basis Risk Reserve Fund lower tier REMIC (the “Lower Tier REMIC”) and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits upper tier REMIC (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each CertificateThe Lower Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Additional Collateral) and will issue interests (the “Lower Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower Tier REMIC. The Trustee will hold the Lower Tier Regular Interests as assets of the Upper Tier REMIC. The Certificates, other than the Class A-R Certificate Certificate, will represent “regular interests” in the Upper Tier REMIC, and the Class A-R-II R Certificate, shall which will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interest” in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than well as ownership of the Class LT-R Interest. For purposes of the REMIC Provisions, ownership of which shall the startup day is the Closing Date. All REMIC regular and residual interests created hereby will be evidenced by retired on or before the Latest Possible Maturity Date. Lower Tier REMIC The following table irrevocably specifies the Class designation, interest rate, principal amount and Corresponding Classes of Certificates for each class of Lower Tier Regular Interests: Lower Lower Tier Tier Initial Class Related Class Interest Principal Corresponding Loan Designation Rate Balance Class of Certificates Group LTA-1 (1) $ 1,927,730.46 Classes A-1 and A-RR Group 1 LTA-2 (2) $ 1,194,004.51 Class A-2 Group 2 LTA-3 (3) $ 4,057,755.02 Class A-3 Group 3 LTA-4 (4) $ 565,258.64 Class A-4 Group 4 LT-II Certificate. Each such LowerSC-1 (5) $ 54,939.46 Classes B-1 – B-6 Group 1 LT-Tier Interest is hereby designated as a REMIC regular interest.SC-2 (5) $ 34,034.51 Classes B-1 – B-6 Group 2 LT-SC-3 (5) $ 115,655.02 Classes B-1 – B-6 Group 3 LT-SC-4 (5) $ 16,118.64 Classes B-1 – B-6 Group 4 LT-Q (5) $766,509,367.20 N/A N/A Class LT-R (6) N/A N/A N/A __________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc Thorn Mort Sec Tr 2003-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 M-11 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 69,055,533.90 Variable2 N/A September 2046 I-5-Tier REMICB 809,527.24 Variable2 September 2046 I-11-B 4,962,685.80 Variable2 September 2046 I-13-B 5,260,790.23 Variable2 September 2046 I-14-B 5,108,881.09 Variable2 September 2046 I-18-B 5,350,858.39 Variable2 September 2046 I-21-B 4,423,276.85 Variable2 September 2046 I-22-B 38,627,646.06 Variable2 September 2046 I-23-B 5,398,719.47 Variable2 September 2046 I-24-B 5,782,309.39 Variable2 September 2046 I-25-B 4,756,253.02 Variable2 September 2046 I-26-A 3,670,650.79 Variable2 November 2008 September 2046 I-26-B 3,670,650.79 Variable2 September 2046 I-27-A 3,028,452.45 Variable2 December 2008 September 2046 I-27-B 3,028,452.45 Variable2 September 2046 I-28-B 2,610,073.37 Variable2 September 2046 I-29-A 2,310,421.80 Variable2 February 2009 September 2046 I-29-B 2,310,421.80 Variable2 September 2046 I-30-B 1,974,020.47 Variable2 September 2046 I-34-B 2,173,428.98 Variable2 September 2046 I-35-B 2,132,749.37 Variable2 September 2046 I-36-A 779,569.33 Variable2 September 2009 September 2046 I-36-B 779,569.33 Variable2 September 2046 I-38-B 1,588,609.32 Variable2 September 2046 I-39-A 1,535,261.76 Variable2 December 2009 September 2046 I-39-B 1,535,261.76 Variable2 September 2046 I-40-B 1,473,266.51 Variable2 September 2046 I-41-B 1,431,467.73 Variable2 September 2046 I-42-A 1,344,435.95 Variable2 March 2010 September 2046 I-42-B 1,344,435.95 Variable2 September 2046 I-43-A 1,242,297.71 Variable2 April 2010 September 2046 I-44-A 1,012,984.03 Variable2 May 2010 September 2046 I-44-B 1,012,984.03 Variable2 September 2046 I-45-A 970,865.81 Variable2 June 2010 September 2046 I-45-B 970,865.81 Variable2 September 2046 I-47-B 899,495.38 Variable2 September 2046 I-48-B 856,459.15 Variable2 September 2046 I-49-A 805,765.34 Variable2 October 2010 September 2046 I-49-B 805,765.34 Variable2 September 2046 I-50-A 890,746.41 Variable2 November 2010 September 2046 I-50-B 890,746.41 Variable2 September 2046 I-51-A 885,985.03 Variable2 December 2010 September 2046 I-51-B 885,985.03 Variable2 September 2046 I-52-A 822,331.60 Variable2 January 2011 September 2046 I-52-B 822,331.60 Variable2 September 2046 I-53-B 780,114.76 Variable2 September 2046 I-54-A 803,777.96 Variable2 March 2011 September 2046 I-54-B 803,777.96 Variable2 September 2046 I-55-A 724,199.80 Variable2 April 2011 September 2046 I-55-B 724,199.80 Variable2 September 2046 I-56-A 766,582.93 Variable2 May 2011 September 2046 I-56-B 766,582.93 Variable2 September 2046 I-57-A 704,101.11 Variable2 June 2011 September 2046 I-57-B 704,101.11 Variable2 September 2046 I-58-A 630,308.64 Variable2 July 2011 September 2046 I-58-B 630,308.64 Variable2 September 2046 IIX3 178,464,568.91 Variable2 N/A September 2046 II-1-B 4,236,495.26 Variable2 September 2046 II-2-B 4,985,283.67 Variable2 September 2046 II-3-B 5,727,381.46 Variable2 September 2046 II-4-B 6,459,568.24 Variable2 September 2046 II-6-B 2,967,674.49 Variable2 September 2046 II-8-A 5,354,481.01 Variable2 May 2007 September 2046 II-8-B 5,354,481.01 Variable2 September 2046 II-10-B 8,248,277.53 Variable2 September 2046 II-11-B 12,825,381.70 Variable2 September 2046 II-12-B 13,487,190.30 Variable2 September 2046 II-13-A 13,595,791.77 Variable2 October 2007 September 2046 II-13-B 13,595,791.77 Variable2 September 2046 II-14-B 13,203,203.41 Variable2 September 2046 II-15-B 16,502,150.82 Variable2 September 2046 II-16-B 15,857,809.06 Variable2 September 2046 II-17-B 14,642,120.27 Variable2 September 2046 II-18-A 13,828,560.61 Variable2 March 2008 September 2046 II-18-B 13,828,560.61 Variable2 September 2046 II-19-A 12,943,845.16 Variable2 April 2008 September 2046 II-19-B 12,943,845.16 Variable2 September 2046 II-20-A 12,159,168.81 Variable2 May 2008 September 2046 II-20-B 12,159,168.81 Variable2 September 2046 II-21-B 11,431,353.15 Variable2 September 2046 II-22-B 99,827,860.44 Variable2 September 2046 II-23-B 13,952,251.03 Variable2 September 2046 II-24-A 14,943,586.61 Variable2 September 2008 September 2046 II-24-B 14,943,586.61 Variable2 September 2046 II-25-A 12,291,884.48 Variable2 October 2008 September 2046 II-25-B 12,291,884.48 Variable2 September 2046 II-26-A 9,486,294.21 Variable2 November 2008 September 2046 II-26-B 9,486,294.21 Variable2 September 2046 II-27-A 7,826,620.55 Variable2 December 2008 September 2046 II-27-B 7,826,620.55 Variable2 September 2046 II-28-A 6,745,377.13 Variable2 January 2009 September 2046 II-28-B 6,745,377.13 Variable2 September 2046 II-29-A 5,970,968.70 Variable2 February 2009 September 2046 II-29-B 5,970,968.70 Variable2 September 2046 II-30-A 5,101,585.53 Variable2 March 2009 September 2046 II-30-B 5,101,585.53 Variable2 September 2046 II-32-A 4,701,168.08 Variable2 May 2009 September 2046 II-32-B 4,701,168.08 Variable2 September 2046 II-33-A 4,513,387.04 Variable2 June 2009 September 2046 II-33-B 4,513,387.04 Variable2 September 2046 II-34-A 5,616,929.52 Variable2 July 2009 September 2046 II-34-B 5,616,929.52 Variable2 September 2046 II-35-A 5,511,798.63 Variable2 August 2009 September 2046 II-35-B 5,511,798.63 Variable2 September 2046 II-36-A 2,014,690.17 Variable2 September 2009 September 2046 II-36-B 2,014,690.17 Variable2 September 2046 II-37-A 3,098,748.05 Variable2 October 2009 September 2046 II-37-B 3,098,748.05 Variable2 September 2046 II-38-A 4,105,543.18 Variable2 November 2009 September 2046 II-38-B 4,105,543.18 Variable2 September 2046 II-39-A 3,967,673.74 Variable2 December 2009 September 2046 II-39-B 3,967,673.74 Variable2 September 2046 II-40-A 3,807,455.49 Variable2 January 2010 September 2046 II-40-B 3,807,455.49 Variable2 September 2046 II-41-A 3,699,432.27 Variable2 February 2010 September 2046 II-41-B 3,699,432.27 Variable2 September 2046 II-42-A 3,474,510.55 Variable2 March 2010 September 2046 II-42-B 3,474,510.55 Variable2 September 2046 II-43-A 3,210,548.29 Variable2 April 2010 September 2046 II-43-B 3,210,548.29 Variable2 September 2046 II-44-A 2,617,918.47 Variable2 May 2010 September 2046 II-44-B 2,617,918.47 Variable2 September 2046 II-45-A 2,509,069.69 Variable2 June 2010 September 2046 II-45-B 2,509,069.69 Variable2 September 2046 II-47-A 2,324,622.62 Variable2 August 2010 September 2046 II-47-B 2,324,622.62 Variable2 September 2046 II-48-A 2,213,401.35 Variable2 September 2010 September 2046 II-48-B 2,213,401.35 Variable2 September 2046 II-49-A 2,082,390.16 Variable2 October 2010 September 2046 II-49-B 2,082,390.16 Variable2 September 2046 II-50-A 2,302,012.09 Variable2 November 2010 September 2046 II-50-B 2,302,012.09 Variable2 September 2046 II-51-B 2,289,706.97 Variable2 September 2046 II-52-A 2,125,203.40 Variable2 January 2011 September 2046 II-52-B 2,125,203.40 Variable2 September 2046 II-53-A 2,016,099.74 Variable2 February 2011 September 2046 II-53-B 2,016,099.74 Variable2 September 2046 II-54-A 2,077,254.04 Variable2 March 2011 September 2046 II-54-B 2,077,254.04 Variable2 September 2046 II-55-A 1,871,595.20 Variable2 April 2011 September 2046 II-55-B 1,871,595.20 Variable2 September 2046 II-56-A 1,981,128.57 Variable2 May 2011 September 2046 II-56-B 1,981,128.57 Variable2 September 2046 II-57-A 1,819,652.89 Variable2 June 2011 September 2046 II-57-B 1,819,652.89 Variable2 September 2046 II-58-A 1,628,946.36 Variable2 July 2011 September 2046 II-58-B 1,628,946.36 Variable2 September 2046 II-59-A 23,940,936.99 Variable2 August 2011 September 2046 II-59-B 23,940,936.99 Variable2 September 2046 _________________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. REMIC 2 As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each Certificate, other than None of the Class REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $782,339,394.81 Variable2 September 2046 A-R Certificate and the Class IA 1,800,695.00 Variable2 September 2046 A-RIIA1 2,045,840.00 Variable2 September 2046 A-II CertificateIIA2 711,390.00 Variable2 September 2046 A-IIA3 1,431,045.00 Variable2 September 2046 A-IIA4 465,345.00 Variable2 September 2046 M1 255,460.00 Variable2 September 2046 M2 239,490.00 Variable2 September 2046 M3 147,685.00 Variable2 September 2046 M4 131,720.00 Variable2 September 2046 M5 127,730.00 Variable2 September 2046 M6 103,780.00 Variable2 September 2046 M7 79,830.00 Variable2 September 2046 M8 79,830.00 Variable2 September 2046 M9 55,880.00 Variable2 September 2046 M10 55,880.00 Variable2 September 2046 M11 79,830.00 Variable2 September 2046 ZZ 8,154,680.10 Variable2 September 2046 1GRP 44,543.79 Variable2 September 2046 1SUB 8,529.89 Variable2 September 2046 2GRP 22,044.91 Variable2 September 2046 2SUB 115,117.31 Variable2 September 2046 Swap IO N/A3 Variable2 September 2046 FMR IO N/A4 Variable2 September 2046 XX 798,115,269.00 Variable2 September 2046 ________________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, shall represent ownership of a regular interest the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMIC, as described Through Rate” herein. In addition3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC 1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. REMIC 3 As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: Class Designation Original Class Certificate Principal Balance Pass-Through Rate Assumed Final Maturity Date1 I‑A $360,139,000.00 Variable2 September 2046 II-A1 409,168,000.00 Variable2 September 2046 II-A2 142,278,000.00 Variable2 September 2046 II-A3 286,209,000.00 Variable2 September 2046 II-A4 93,069,000.00 Variable2 September 2046 M‑1 51,092,000.00 Variable2 September 2046 M‑2 47,898,000.00 Variable2 September 2046 M‑3 29,537,000.00 Variable2 September 2046 M‑4 26,344,000.00 Variable2 September 2046 M‑5 25,546,000.00 Variable2 September 2046 M‑6 20,756,000.00 Variable2 September 2046 M‑7 15,966,000.00 Variable2 September 2046 M‑8 15,966,000.00 Variable2 September 2046 M‑9 11,176,000.00 Variable2 September 2046 M-10 11,176,000.00 Variable2 September 2046 M‑11 15,966,000.00 Variable2 September 2046 Swap IO N/A Variable5 September 2046 FM Reserve IO N/A Variable5 September 2046 Class C Interest3 34,324,909.81 Variable2 September 2046 Class P Interest $100.00 N/A4 September 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Tier Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC2 Regular Interests. The Lower-Tier REMIC shall hold as assets all property Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the Trust Fund other than the assets held in the Basis Risk Reserve Fundinterest paid on REMIC 2 Regular Interests Swap IO and FMR IO, the Yield Maintenance Account, the Yield Maintenance Agreements, and the respectively. These interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall will not be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestcertificated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A-1-1 Certificates, (ii) the Class 1-A-1B A-1-2 Certificates, (iii) the Class 21-A-1A A-2A Certificates, (iv) the Class 21-A-1B A-2B Certificates, (v) the Class 21-A-1C Certificates, (viA-2C Certificates,(vi) the Class X-1 2-A-1 Certificates, (vii) the Class X-2 2-A-2 Certificates, (viii) the Class PO-1 1-M-1 Certificates, (ix) the Class PO-2 1-M-2 Certificates, (x) the Class A1-R M-3 Certificates, (xi), ) the Class A1-R-II M-4 Certificates, (xii) the Class P 1-M-5 Certificates, (xiii) the Class B-1 1-M-6 Certificates, (xiv) the Class B-2 1-M-7 Certificates, (xvx) the Class B-3 1-M-8 Certificates, (xvixi) the Class B-4 2-M-1 Certificates, (xviixii) the Class B-5 2-M-2 Certificates, (xviiixiii) the Class B-6 Certificates and 2-M-3 Certificates, (xix) the Class B-7 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificats, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive other than the Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the assets held in Supplemental Interest Trust, the Basis Risk Reserve Fund and the Yield Maintenance Swap Account and the Yield Maintenance AgreementsGroup 1-A-2 Interest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-Tier REMIC Interests, other than the Class LTA-1 Variable(2) $ 130,047,000.00 May 2036 1-R Interest, ownership of which shall be evidenced by the Class AA-1-ROC Variable(2) $ 9,654,854.61 May 2036 1-II Certificate. Each such LowerA-1-Tier Interest is hereby designated as a REMIC regular interest.P Variable(2) $ 100.00 May 2036 1-1-A Variable(2) $ 1,219,478.33 May 2036 1-1-B Variable(2) $ 1,219,478.33 May 2036 1-2-A Variable(2) $ 1,689,392.90 May 2036 1-2-B Variable(2) $ 1,689,392.90 May 2036 1-3-A Variable(2) $ 2,161,020.85 May 2036 1-3-B Variable(2) $ 2,161,020.85 May 2036 1-4-A Variable(2) $ 2,631,457.93 May 2036 1-4-B Variable(2) $ 2,631,457.93 May 2036 1-5-A Variable(2) $ 3,097,708.88 May 2036 1-5-B Variable(2) $ 3,097,708.88 May 2036 1-6-A Variable(2) $ 3,556,747.08 May 2036 1-6-B Variable(2) $ 3,556,747.08 May 2036 1-7-A Variable(2) $ 4,005,464.50 May 2036 1-7-B Variable(2) $ 4,005,464.50 May 2036 1-8-A Variable(2) $ 4,440,538.91 May 2036 1-8-B Variable(2) $ 4,440,538.91 May 2036 1-9-A Variable(2) $ 4,859,095.41 May 2036 1-9-B Variable(2) $ 4,859,095.41 May 2036 1-10-A Variable(2) $ 5,137,294.00 May 2036 1-10-B Variable(2) $ 5,137,294.00 May 2036 1-11-A Variable(2) $ 5,358,136.54 May 2036 1-11-B Variable(2) $ 5,358,136.54 May 2036 1-12-A Variable(2) $ 5,425,595.41 May 2036 1-12-B Variable(2) $ 5,425,595.41 May 2036 1-13-A Variable(2) $ 5,261,614.90 May 2036 1-13-B Variable(2) $ 5,261,614.90 May 2036 1-14-A Variable(2) $ 5,102,598.27 May 2036 1-14-B Variable(2) $ 5,102,598.27 May 2036 1-15-A Variable(2) $ 4,948,414.66 May 2036 1-15-B Variable(2) $ 4,948,414.66 May 2036 1-16-A Variable(2) $ 4,798,797.43 May 2036 1-16-B Variable(2) $ 4,798,797.43 May 2036 1-17-A Variable(2) $ 4,653,731.96 May 2036 1-17-B Variable(2) $ 4,653,731.96 May 2036 1-18-A Variable(2) $ 4,512,951.51 May 2036 1-18-B Variable(2) $ 4,512,951.51 May 2036 1-19-A Variable(2) $ 4,376,430.06 May 2036 1-19-B Variable(2) $ 4,376,430.06 May 2036 1-20-A Variable(2) $ 4,244,140.25 May 2036 1-20-B Variable(2) $ 4,244,140.25 May 2036 1-21-A Variable(2) $ 19,707,148.45 May 2036 1-21-B Variable(2) $ 19,707,148.45 May 2036 1-22-A Variable(2) $ 7,767,674.53 May 2036 1-22-B Variable(2) $ 7,767,674.53 May 2036 1-23-A Variable(2) $ 7,531,609.12 May 2036 1-23-B Variable(2) $ 7,531,609.12 May 2036 1-24-A Variable(2) $ 3,050,425.72 May 2036 1-24-B Variable(2) $ 3,050,425.72 May 2036 1-25-A Variable(2) $ 2,958,088.08 May 2036 1-25-B Variable(2) $ 2,958,088.08 May 2036 1-26-A Variable(2) $ 2,868,424.69 May 2036 1-26-B Variable(2) $ 2,868,424.69 May 2036 1-27-A Variable(2) $ 2,781,616.07 May 2036 1-27-B Variable(2) $ 2,781,616.07 May 2036 1-28-A Variable(2) $ 2,697,296.69 May 2036 1-28-B Variable(2) $ 2,697,296.69 May 2036 1-29-A Variable(2) $ 2,615,584.21 May 2036 1-29-B Variable(2) $ 2,615,584.21 May 2036 1-30-A Variable(2) $ 2,536,331.10 May 2036 1-30-B Variable(2) $ 2,536,331.10 May 2036 1-31-A Variable(2) $ 2,459,422.13 May 2036 1-31-B Variable(2) $ 2,459,422.13 May 2036 1-32-A Variable(2) $ 2,384,937.54 May 2036 1-32-B Variable(2) $ 2,384,937.54 May 2036 1-33-A Variable(2) $ 4,266,259.46 May 2036 1-33-B Variable(2) $ 4,266,259.46 May 2036 1-34-A Variable(2) $ 3,159,440.38 May 2036 1-34-B Variable(2) $ 3,159,440.38 May 2036 1-35-A Variable(2) $ 5,017,115.56 May 2036 1-35-B Variable(2) $ 5,017,115.56 May 2036 1-36-A Variable(2) $ 36,172,180.59 May 2036 1-36-B Variable(2) $ 36,172,180.59 May 2036 1-37-A Variable(2) $ 827,402.50 May 2036 1-37-B Variable(2) $ 827,402.50 May 2036 1-38-A Variable(2) $ 802,330.00 May 2036 1-38-B Variable(2) $ 802,330.00 May 2036 1-39-A Variable(2) $ 777,930.00 May 2036 1-39-B Variable(2) $ 777,930.00 May 2036 1-40-A Variable(2) $ 754,337.50 May 2036 1-40-B Variable(2) $ 754,337.50 May 2036 1-41-A Variable(2) $ 731,402.50 May 2036 1-41-B Variable(2) $ 731,402.50 May 2036 1-42-A Variable(2) $ 709,172.50 May 2036 1-42-B Variable(2) $ 709,172.50 May 2036 1-43-A Variable(2) $ 687,667.50 May 2036 1-43-B Variable(2) $ 687,667.50 May 2036 1-44-A Variable(2) $ 666,715.00 May 2036 1-44-B Variable(2) $ 666,715.00 May 2036 1-45-A Variable(2) $ 646,492.50 May 2036 1-45-B Variable(2) $ 646,492.50 May 2036 1-46-A Variable(2) $ 626,802.50 May 2036 1-46-B Variable(2) $ 626,802.50 May 2036 1-47-A Variable(2) $ 607,775.00 May 2036 1-47-B Variable(2) $ 607,775.00 May 2036 1-48-A Variable(2) $ 589,260.00 May 2036 1-48-B Variable(2) $ 589,260.00 May 2036 1-49-A Variable(2) $ 571,322.50 May 2036 1-49-B Variable(2) $ 571,322.50 May 2036 1-50-A Variable(2) $ 553,955.00 May 2036 1-50-B Variable(2) $ 553,955.00 May 2036 1-51-A Variable(2) $ 537,065.00 May 2036 1-51-B Variable(2) $ 537,065.00 May 2036 1-52-A Variable(2) $ 520,720.00 May 2036 1-52-B Variable(2) $ 520,720.00 May 2036 1-53-A Variable(2) $ 504,870.00 May 2036 1-53-B Variable(2) $ 504,870.00 May 2036 1-54-A Variable(2) $ 489,502.50 May 2036 1-54-B Variable(2) $ 489,502.50 May 2036 1-55-A Variable(2) $ 474,592.50 May 2036 1-55-B Variable(2) $ 474,592.50 May 2036 1-56-A Variable(2) $ 460,107.50 May 2036 1-56-B Variable(2) $ 460,107.50 May 2036 1-57-A Variable(2) $ 3,682,367.50 May 2036 1-57-B Variable(2) $ 3,682,367.50 May 2036 1-58-A Variable(2) $ 1,719,787.50 May 2036 1-58-B Variable(2) $ 1,719,787.50 May 2036 1-59-A Variable(2) $ 8,139,465.00 May 2036 1-59-B Variable(2) $ 8,139,465.00 May 2036 1-60-A Variable(2) $ 954,020.00 May 2036 1-60-B Variable(2) $ 954,020.00 May 2036 1-A-2-OC Variable(2) $ 87,073,388.47 May 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 B-1 Certificates, (xvi) the Class B-4 B-2 Certificates, (xvii) the Class B-5 B-3 Certificates, (xviii) the Class B-6 Certificates and C Certificates, (xix) the Class B-7 P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Cap Contract, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 186,096,599.99 March 25, 2036 I-1-II Certificate. Each such LowerB Variable(2) $ 10,939,343.75 March 25, 2036 I-4-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 11,505,936.25 March 25, 2036 I-5-B Variable(2) $ 11,618,112.50 March 25, 2036 I-6-B Variable(2) $ 11,809,545.00 March 25, 2036 I-8-B Variable(2) $ 12,276,161.25 March 25, 2036 I-9-A Variable(2) $ 42,006,962.50 March 25, 2036 I-9-B Variable(2) $ 42,006,962.50 March 25, 2036 I-10-A Variable(2) $ 100,564,707.50 March 25, 2036 I-10-B Variable(2) $ 100,564,707.50 March 25, 2036 I-11-A Variable(2) $ 19,827,321.25 March 25, 2036 I-11-B Variable(2) $ 19,827,321.25 March 25, 2036 I-12-B Variable(2) $ 2,450,530.00 March 25, 2036 I-13-B Variable(2) $ 2,338,713.75 March 25, 2036 I-14-B Variable(2) $ 2,232,358.75 March 25, 2036 I-15-B Variable(2) $ 2,131,183.75 March 25, 2036 I-16-B Variable(2) $ 2,034,917.50 March 25, 2036 I-17-B Variable(2) $ 1,943,306.25 March 25, 2036 I-18-A Variable(2) $ 1,856,112.50 March 25, 2036 I-18-B Variable(2) $ 1,856,112.50 March 25, 2036 I-19-B Variable(2) $ 1,773,107.50 March 25, 2036 I-20-B Variable(2) $ 2,896,131.25 March 25, 2036 I-21-A Variable(2) $ 6,745,461.25 March 25, 2036 I-21-B Variable(2) $ 6,745,461.25 March 25, 2036 I-22-B Variable(2) $ 1,739,076.25 March 25, 2036 I-23-B Variable(2) $ 1,221,613.75 March 25, 2036 I-24-B Variable(2) $ 1,033,476.25 March 25, 2036 I-25-B Variable(2) $ 994,543.75 March 25, 2036 I-26-A Variable(2) $ 957,122.50 March 25, 2036 I-26-B Variable(2) $ 957,122.50 March 25, 2036 I-27-A Variable(2) $ 921,148.75 March 25, 2036 I-27-B Variable(2) $ 921,148.75 March 25, 2036 I-28-B Variable(2) $ 886,565.00 March 25, 2036 I-29-A Variable(2) $ 853,316.25 March 25, 2036 I-29-B Variable(2) $ 853,316.25 March 25, 2036 I-30-A Variable(2) $ 821,346.25 March 25, 2036 I-30-B Variable(2) $ 821,346.25 March 25, 2036 I-31-B Variable(2) $ 790,606.25 March 25, 2036 I-32-A Variable(2) $ 761,043.75 March 25, 2036 I-32-B Variable(2) $ 761,043.75 March 25, 2036 I-33-A Variable(2) $ 732,615.00 March 25, 2036 I-33-B Variable(2) $ 732,615.00 March 25, 2036 I-34-B Variable(2) $ 705,273.75 March 25, 2036 I-35-A Variable(2) $ 678,976.25 March 25, 2036 I-35-B Variable(2) $ 678,976.25 March 25, 2036 I-36-A Variable(2) $ 653,681.25 March 25, 2036 I-36-B Variable(2) $ 653,681.25 March 25, 2036 I-37-B Variable(2) $ 629,350.00 March 25, 2036 I-38-A Variable(2) $ 605,941.25 March 25, 2036 I-38-B Variable(2) $ 605,941.25 March 25, 2036 I-39-A Variable(2) $ 15,833,661.25 March 25, 2036 I-39-B Variable(2) $ 15,833,661.25 March 25, 2036 P Variable(2) $ 100.00 March 25, 2036 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-2)
PRELIMINARY STATEMENT. Through this AgreementIn exchange for the Certificates, the Depositor intends hereby conveys the Trust Estate to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of Trustee to create the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated Estate for federal income tax purposes will be treated as comprising two three separate real estate mortgage investment conduits (each, a “the "Upper-Tier REMIC” or, in ," the alternative, "Middle-Tier REMIC" and the “"Lower-Tier REMIC” ," respectively, and the “Upper-Tier each, a "REMIC”"). Each Certificate, The Class A Certificates (other than the Class 1-A-R Certificate R, Class 1-A-MR, Class 1-A-LR, Class X-PO, Class 15-PO, Class 15-IO and Class 30-IO Certificates) and the Class A30-RB, Class X-II Certificate, B and Class 15-B Certificates are referred to collectively as the "Regular Certificates" and shall represent ownership of a constitute "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the The Class 1-A-1AX-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component, Class 6-X-PO Component, Class 7-X-PO Component, Class 3-15-PO Component, Class 4-15-PO Component, Class 6-15-PO Component, Class 7-15-PO Component, Class 1-A-1B30-IO Component, Class 2-A-1A30-IO Component, 3-15-IO Component, 4-15-IO Component, Class 25-A-1B30-IO Component, Class 26-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 15-IO Component and Class B-7 Certificates represent 7-15-IO Component (collectively, the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii"Components") the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest shall also constitute "regular interests" in the Upper-Tier REMIC and REMIC. The Uncertificated Middle-Tier Interests shall constitute the Class A"regular interests" in the Middle-RTier REMIC. The Uncertificated Lower-II Certificate represents Tier Interests shall constitute the sole class of residual interest "regular interests" in the Lower-Tier REMIC. The LowerClass 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC, the Class 1-A-MR Certificate shall be the "residual interest" in the Middle-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC formed herebyREMIC. The Upper Tier REMIC shall hold as assets Certificates, the uncertificated Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC InterestsCertificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, other than together with the Class LT-R Interest, ownership minimum denominations and integral multiples in excess thereof in which the Classes of which Certificates shall be evidenced by issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.minimum denomination):
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-2M Certificates, (iv) the Class 2-A-1B A-3 Certificates, (v) the Class 2-A-1C A-3M Certificates, (vi) the Class X-1 A-4 Certificates, (vii) the Class X-2 A-4M Certificates, (viii) the Class PO-1 A-5 Certificates, (ix) the Class PO-2 A-5M Certificates, (x) the Class A-R A-6 Certificates, (xi), ) the Class A-R-II A-6M Certificates, (xii) the Class P A-7 Certificates, (xiii) the Class B-1 M-1 Certificates, (xiv) the Class B-2 M-2 Certificates, (xv) the Class B-3 M-3 Certificates, (xvi) the Class B-4 M-4 Certificates, (xvii) the Class B-5 M-5 Certificates, (xviii) the Class B-6 Certificates and M-6 Certificates, (xix) the Class B-7 M-7 Certificates, (xx) the Class M-8 Certificates, (xxi) the Class B Certificates, (xxii) Class C Certificates, (xxiii) the Class P Certificates and (xxiv) the Class R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Shortfall Reserve Fund and Fund, any Master Servicer Prepayment Charge Payment Amounts and, for the Yield Maintenance avoidance of doubt, the Supplemental Interest Trust, the Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-1-A Variable(2) $ 4,035,240.13 November 25, the Yield Maintenance Account2036 1-1-B Variable(2) $ 4,035,240.13 November 25, the Yield Maintenance Agreements2036 1-2-A Variable(2) $ 10,270,515.54 November 25, and the interests in the Lower2036 1-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower2-Tier REMIC InterestsB Variable(2) $ 10,270,515.54 November 25, other than the Class LT2036 1-R Interest3-A Variable(2) $ 11,473,338.76 November 25, ownership of which shall be evidenced by the Class A2036 1-R3-II Certificate. Each such LowerB Variable(2) $ 11,473,338.76 November 25, 2036 1-Tier Interest is hereby designated as a REMIC regular interest.4-A Variable(2) $ 12,664,406.46 November 25, 2036 1-4-B Variable(2) $ 12,664,406.46 November 25, 2036 1-5-A Variable(2) $ 13,828,621.13 November 25, 2036 1-5-B Variable(2) $ 13,828,621.13 November 25, 2036 1-6-A Variable(2) $ 14,831,555.44 November 25, 2036 1-6-B Variable(2) $ 14,831,555.44 November 25, 2036 1-7-A Variable(2) $ 15,937,156.87 November 25, 2036 1-7-B Variable(2) $ 15,937,156.87 November 25, 2036 1-8-A Variable(2) $ 17,006,124.63 November 25, 2036 1-8-B Variable(2) $ 17,006,124.63 November 25, 2036 1-9-A Variable(2) $ 18,441,306.82 November 25, 2036 1-9-B Variable(2) $ 18,441,306.82 November 25, 2036 1-10-A Variable(2) $ 19,805,091.14 November 25, 2036 1-10-B Variable(2) $ 19,805,091.14 November 25, 2036 1-11-A Variable(2) $ 20,784,991.55 November 25, 2036 1-11-B Variable(2) $ 20,784,991.55 November 25, 2036 1-12-A Variable(2) $ 21,363,336.84 November 25, 2036 1-12-B Variable(2) $ 21,363,336.84 November 25, 2036 1-13-A Variable(2) $ 21,951,123.30 November 25, 2036 1-13-B Variable(2) $ 21,951,123.30 November 25, 2036 1-14-A Variable(2) $ 22,485,948.91 November 25, 2036 1-14-B Variable(2) $ 22,485,948.91 November 25, 2036 1-15-A Variable(2) $ 22,965,095.29 November 25, 2036 1-15-B Variable(2) $ 22,965,095.29 November 25, 2036 1-16-A Variable(2) $ 23,374,043.22 November 25, 2036 1-16-B Variable(2) $ 23,374,043.22 November 25, 2036 1-17-A Variable(2) $ 23,537,333.58 November 25, 2036 1-17-B Variable(2) $ 23,537,333.58 November 25, 2036 1-18-A Variable(2) $ 22,778,692.08 November 25, 2036 1-18-B Variable(2) $ 22,778,692.08 November 25, 2036 1-19-A Variable(2) $ 22,043,990.96 November 25, 2036 1-19-B Variable(2) $ 22,043,990.96 November 25, 2036 1-20-A Variable(2) $ 2,907,012.14 November 25, 2036 1-20-B Variable(2) $ 2,907,012.14 November 25, 2036 1-21-A Variable(2) $ 21,206,980.89 November 25, 2036 1-21-B Variable(2) $ 21,206,980.89 November 25, 2036 1-22-A Variable(2) $ 20,979,297.75 November 25, 2036 1-22-B Variable(2) $ 20,979,297.75 November 25, 2036 1-23-A Variable(2) $ 20,274,456.03 November 25, 2036 1-23-B Variable(2) $ 20,274,456.03 November 25, 2036 1-24-A Variable(2) $ 37,985,465.93 November 25, 2036 1-24-B Variable(2) $ 37,985,465.93 November 25, 2036 1-25-A Variable(2) $ 18,319,637.52 November 25, 2036 1-25-B Variable(2) $ 18,319,637.52 November 25, 2036 1-26-A Variable(2) $ 17,682,504.42 November 25, 2036 1-26-B Variable(2) $ 17,682,504.42 November 25, 2036 1-27-A Variable(2) $ 17,068,083.84 November 25, 2036 1-27-B Variable(2) $ 17,068,083.84 November 25, 2036 1-28-A Variable(2) $ 16,197,103.54 November 25, 2036 1-28-B Variable(2) $ 16,197,103.54 November 25, 2036 1-29-A Variable(2) $ 6,771,406.29 November 25, 2036 1-29-B Variable(2) $ 6,771,406.29 November 25, 2036 1-30-A Variable(2) $ 15,069,047.37 November 25, 2036 1-30-B Variable(2) $ 15,069,047.37 November 25, 2036 1-31-A Variable(2) $ 15,342,175.95 November 25, 2036 1-31-B Variable(2) $ 15,342,175.95 November 25, 2036 1-32-A Variable(2) $ 14,775,068.01 November 25, 2036 1-32-B Variable(2) $ 14,775,068.01 November 25, 2036 1-33-A Variable(2) $ 66,967,043.62 November 25, 2036 1-33-B Variable(2) $ 66,967,043.62 November 25, 2036 1-34-A Variable(2) $ 12,086,942.77 November 25, 2036 1-34-B Variable(2) $ 12,086,942.77 November 25, 2036 1-35-A Variable(2) $ 11,638,320.35 November 25, 2036 1-35-B Variable(2) $ 11,638,320.35 November 25, 2036 1-36-A Variable(2) $ 11,206,527.13 November 25, 2036 1-36-B Variable(2) $ 11,206,527.13 November 25, 2036 1-37-A Variable(2) $ 10,337,860.78 November 25, 2036 1-37-B Variable(2) $ 10,337,860.78 November 25, 2036 1-38-A Variable(2) $ 93,446,243.33 November 25, 2036 1-38-B Variable(2) $ 93,446,243.33 November 25, 2036 1-39-A Variable(2) $ 6,656,034.17 November 25, 2036 1-39-B Variable(2) $ 6,656,034.17 November 25, 2036 1-40-A Variable(2) $ 6,453,943.03 November 25, 2036 1-40-B Variable(2) $ 6,453,943.03 November 25, 2036 1-41-A Variable(2) $ 6,257,542.49 November 25, 2036 1-41-B Variable(2) $ 6,257,542.49 November 25, 2036 1-42-A Variable(2) $ 6,067,543.43 November 25, 2036 1-42-B Variable(2) $ 6,067,543.43 November 25, 2036 1-43-A Variable(2) $ 5,882,841.08 November 25, 2036 1-43-B Variable(2) $ 5,882,841.08 November 25, 2036 1-44-A Variable(2) $ 5,704,062.46 November 25, 2036 1-44-B Variable(2) $ 5,704,062.46 November 25, 2036 1-45-A Variable(2) $ 5,530,387.39 November 25, 2036 1-45-B Variable(2) $ 5,530,387.39 November 25, 2036 1-46-A Variable(2) $ 5,362,038.48 November 25, 2036 1-46-B Variable(2) $ 5,362,038.48 November 25, 2036 1-47-A Variable(2) $ 5,198,886.12 November 25, 2036 1-47-B Variable(2) $ 5,198,886.12 November 25, 2036 1-48-A Variable(2) $ 5,040,498.98 November 25, 2036 1-48-B Variable(2) $ 5,040,498.98 November 25, 2036 1-49-A Variable(2) $ 4,887,110.98 November 25, 2036 1-49-B Variable(2) $ 4,887,110.98 November 25, 2036 1-50-A Variable(2) $ 4,738,313.31 November 25, 2036 1-50-B Variable(2) $ 4,738,313.31 November 25, 2036 1-51-A Variable(2) $ 4,594,002.40 November 25, 2036 1-51-B Variable(2) $ 4,594,002.40 November 25, 2036 1-52-A Variable(2) $ 5,378,663.93 November 25, 2036 1-52-B Variable(2) $ 5,378,663.93 November 25, 2036 1-53-A Variable(2) $ 16,032,701.81 November 25, 2036 1-53-B Variable(2) $ 16,032,701.81 November 25, 2036 1-54-A Variable(2) $ 40,875,708.66 November 25, 2036 1-54-B Variable(2) $ 40,875,708.66 November 25, 2036 1-55-A Variable(2) $ 27,320,129.36 November 25, 2036 1-55-B Variable(2) $ 27,320,129.36 November 25, 2036 1-56-A Variable(2) $ 45,157,444.46 November 25, 2036 1-56-B Variable(2) $ 45,157,444.46 November 25, 2036 1-57-A Variable(2) $ 3,082,737.26 November 25, 2036 1-57-B Variable(2) $ 3,082,737.26 November 25, 2036 1-58-A Variable(2) $ 213,945.22 November 25, 2036 1-58-B Variable(2) $ 213,945.22 November 25, 2036 1-59-A Variable(2) $ 207,417.02 November 25, 2036 1-59-B Variable(2) $ 207,417.02 November 25, 2036 1-60-A Variable(2) $ 201,086.53 November 25, 2036 1-60-B Variable(2) $ 201,086.53 November 25, 2036 1-61-A Variable(2) $ 194,947.79 November 25, 2036 1-61-B Variable(2) $ 194,947.79 November 25, 2036 1-62-A Variable(2) $ 188,995.04 November 25, 2036 1-62-B Variable(2) $ 188,995.04 November 25, 2036 1-63-A Variable(2) $ 183,222.66 November 25, 2036 1-63-B Variable(2) $ 183,222.66 November 25, 2036 1-64-A Variable(2) $ 177,625.23 November 25, 2036 1-64-B Variable(2) $ 177,625.23 November 25, 2036 1-65-A Variable(2) $ 172,197.48 November 25, 2036 1-65-B Variable(2) $ 172,197.48 November 25, 2036 1-66-A Variable(2) $ 166,934.29 November 25, 2036 1-66-B Variable(2) $ 166,934.29 November 25, 2036 1-67-A Variable(2) $ 161,830.71 November 25, 2036 1-67-B Variable(2) $ 161,830.71 November 25, 2036 1-68-A Variable(2) $ 156,881.93 November 25, 2036 1-68-B Variable(2) $ 156,881.93 November 25, 2036 1-69-A Variable(2) $ 152,083.28 November 25, 2036 1-69-B Variable(2) $ 152,083.28 November 25, 2036 1-70-A Variable(2) $ 147,430.23 November 25, 2036 1-70-B Variable(2) $ 147,430.23 November 25, 2036 1-71-A Variable(2) $ 142,918.39 November 25, 2036 1-71-B Variable(2) $ 142,918.39 November 25, 2036 1-72-A Variable(2) $ 138,543.52 November 25, 2036 1-72-B Variable(2) $ 138,543.52 November 25, 2036 1-73-A Variable(2) $ 134,301.46 November 25, 2036 1-73-B Variable(2) $ 134,301.46 November 25, 2036 1-74-A Variable(2) $ 130,188.23 November 25, 2036 1-74-B Variable(2) $ 130,188.23 November 25, 2036 1-75-A Variable(2) $ 126,199.93 November 25, 2036 1-75-B Variable(2) $ 126,199.93 November 25, 2036 1-76-A Variable(2) $ 122,332.79 November 25, 2036 1-76-B Variable(2) $ 122,332.79 November 25, 2036 1-77-A Variable(2) $ 118,583.16 November 25, 2036 1-77-B Variable(2) $ 118,583.16 November 25, 2036 1-78-A Variable(2) $ 114,947.49 November 25, 2036 1-78-B Variable(2) $ 114,947.49 November 25, 2036 1-79-A Variable(2) $ 1,417,073.07 November 25, 2036 1-79-B Variable(2) $ 1,417,073.07 November 25, 2036 1-80-A Variable(2) $ 1,590,733.44 November 25, 2036 1-80-B Variable(2) $ 1,590,733.44 November 25, 2036 1-81-A Variable(2) $ 583,900.97 November 25, 2036 1-81-B Variable(2) $ 583,900.97 November 25, 2036 OC Variable(2) $ 19,946,570.47 November 25, 2036 P Variable(2) $ 100.00 November 25, 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-one Classes of certificatesCertificates, designated as (i) the Class 1-A-1A A-1, Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, Class A-2MZ Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10, Class M-11 and Class M-12 Certificates, (iii) the Class 2-A-1A B-1 and Class B-2 Certificates, (iv) the Class 2-A-1B CE Certificates, (v) the Class 2-A-1C Certificates, P Certificates and (vi) the Class X-1 Certificates, (vii) the R and Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesX Certificate. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the assets held in Cap Carryover Reserve Account, the Basis Risk Reserve Fund Interest Rate Swap Agreement, the Swap Account, the Pre-Funding Accounts and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Balance, and solely for purposes of satisfying Treasury Regulations Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Balance Latest Possible Maturity Date(1) I Variable(2) $ 296,938,015.40 August 25, the Yield Maintenance Account2035 I-PF Variable(2) $ 2,114,696.99 August 25, the Yield Maintenance Agreements2035 II Variable(2) $ 696,288,812.30 August 25, and the interests in the Lower2035 II-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsPF Variable(2) $ 11,623,798.71 August 25, other than the Class LT-R Interest2035 P Variable(2) $ 100.00 August 25, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2035 ___________________________________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 119,783,432.50 January 2037 I-7-II Certificate. Each such LowerB Variable (2) $ 10,377,761.25 January 2037 I-8-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 9,998,421.25 January 2037 I-11-B Variable (2) $ 8,947,216.25 January 2037 I-12-B Variable (2) $ 8,621,106.25 January 2037 I-13-B Variable (2) $ 8,484,503.75 January 2037 I-16-B Variable (2) $ 3,214,431.25 January 2037 I-19-B Variable (2) $ 2,042,495.00 January 2037 I-24-B Variable (2) $ 1,728,581.25 January 2037 I-27-B Variable (2) $ 1,398,851.25 January 2037 I-29-B Variable (2) $ 1,314,318.75 January 2037 I-35-B Variable (2) $ 1,091,092.50 January 2037 I-38-A Variable (2) $ 994,577.50 January 2037 I-38-B Variable (2) $ 994,577.50 January 2037 I-39-A Variable (2) $ 964,403.75 January 2037 I-39-B Variable (2) $ 964,403.75 January 2037 I-40-B Variable (2) $ 935,172.50 January 2037 I-41-A Variable (2) $ 906,855.00 January 2037 I-41-B Variable (2) $ 906,855.00 January 2037 I-42-A Variable (2) $ 879,421.25 January 2037 I-42-B Variable (2) $ 879,421.25 January 2037 I-43-A Variable (2) $ 852,841.25 January 2037 I-43-B Variable (2) $ 852,841.25 January 2037 I-44-A Variable (2) $ 827,088.75 January 2037 I-44-B Variable (2) $ 827,088.75 January 2037 I-45-A Variable (2) $ 814,118.75 January 2037 I-45-B Variable (2) $ 814,118.75 January 2037 I-47-A Variable (2) $ 753,991.25 January 2037 I-47-B Variable (2) $ 753,991.25 January 2037 I-48-A Variable (2) $ 732,963.75 January 2037 I-48-B Variable (2) $ 732,963.75 January 2037 I-49-B Variable (2) $ 709,252.50 January 2037 I-50-A Variable (2) $ 1,838,346.25 January 2037 I-50-B Variable (2) $ 1,838,346.25 January 2037 I-51-A Variable (2) $ 21,370,137.50 January 2037 I-51-B Variable (2) $ 21,370,137.50 January 2037 P Variable (2) $ 100.00 January 2037 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView sell Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trustcollectively, the primary assets of which are the Mortgage Loans (as defined below"Certificates"). The Depositor intends to sell the Certificates , to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesFund. As provided herein, the Trustee shall elect that REMIC Administrator will make an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk Reserve Fund definition of REMIC I (as defined herein), and subject to this Agreement (including the Yield Maintenance Account and Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMIC” or, "REMIC I." The Uncertificated REMIC I Regular Interests will be "regular interests" in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate REMIC I and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 I Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents will be the sole class of "residual interest interests" in REMIC I for purposes of the UpperREMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-Tier A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-6 Certificates, Class I-A-7 Certificates, Class I-A-8 Certificates, Class I-A-P Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II- A-4 Certificates, Class II-A-5 Certificates, Class II-A-6 Certificates, Class II-A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Uncertificated Class I-A-V REMIC Regular Interests and Uncertificated Class II-A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class A-R-II Certificate represents Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class I-A-V and Class II-A-V Certificates will represent the entire beneficial ownership interest in the LowerUncertificated Class I-Tier REMICA-V REMIC Regular Interests and the Uncertificated Class II-A-V REMIC Regular Interests, respectively. The Lower-Tier REMIC shall hold as assets all property terms and provisions of the Trust Fund other than the assets held Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Basis Risk Reserve FundStandard Terms, the Yield Maintenance Accountterms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the designation, the Yield Maintenance AgreementsUncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the interests in "latest possible maturity date" for each of the LowerUncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated Initial Uncertificated Latest REMIC-Tier I-Pass Principal-Balance Possible-Maturity(1) Designation Through Rate Uncertificated REMIC formed hereby. The Upper Tier I 6.75% $93,777,000.00 September 25, 2031 Regular Interest N Uncertificated REMIC shall hold as assets the uncertificated Lower-Tier I 6.75% $27,990,000.00 September 25, 2031 Regular Interest P Uncertificated REMIC InterestsI 6.75% $100,019,000.00 September 25, other than the Class LT-2031 Regular Interest Q Uncertificated REMIC I 6.75% $10,276,000.00 September 25, 2031 Regular Interest R InterestUncertificated REMIC I 6.75% $79,161,037.21 September 25, ownership of which shall be evidenced by the Class A-R-2031 Regular Interest S Uncertificated REMIC I 6.75% $81,000,000.00 September 25, 2031 Regular Interest T Uncertificated REMIC I 6.75% $23,900,000.00 September 25, 2031 Regular Interest V Uncertificated REMIC I 6.75% $83,305,000.00 September 25, 2031 Regular Interest W Uncertificated REMIC I 6.75% $71,231,339.88 September 25, 2031 Regular Interest X Uncertificated REMIC I 0.00% $517,395.43 September 25, 2031 Regular Interest Y Uncertificated REMIC I 0.00% $458,032.78 September 25, 2031 Regular Interest Z Uncertificated REMIC I Variable (2) N/A(3) September 25, 2031 Group I IO Regular Interests Uncertificated REMIC I Variable (2) N/A(3) September 25, 2031 Group II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.IO Regular Interests ______________
Appears in 1 contract
Samples: And Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1-A-1B I- A-2 Certificates, (iii) the Class 2II-A-1A A-1 Certificates, (iv) the Class 2II-A-1B A-2 Certificates, (v) the Class 2II-A-1C A-3 Certificates, (vi) the Class X-1 II-A-4 Certificates, (vii) the Class X-2 Certificates, M-1 Certificates (viii) the Class PO-1 M-2 Certificates, (ix) the Class PO-2 M-3 Certificates, (x) the Class A-R M-4 Certificates, (xi), ) the Class A-R-II M-5 Certificates, (xii) the Class P M-6 Certificates, (xiii) the Class B-1 M-7 Certificates, (xiv) the Class B-2 M-8 Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 M-10 Certificates, (xvii) the Class B-5 M-11 Certificates, (xviii) the Class B-6 Certificates and C Certificates, (xix) the Class B-7 P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. REMIC I As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Rate Carryover Reserve Fund Account, the Swap Account, the Serivicer Prepayment Charge Payment Amounts and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) I Variable(2) $ 2,076.89 December 25, the Yield Maintenance Account2035 I-1-B Variable(2) $ 5,259,880.00 December 25, the Yield Maintenance Agreements2035 I-3-B Variable(2) $ 10,029,910.00 December 25, and the interests in the Lower2035 I-4-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerB Variable(2) $ 12,433,741.25 December 25, 2035 I-5-Tier REMIC InterestsA Variable(2) $ 14,822,491.25 December 25, other than the Class LT2035 I-5-R InterestB Variable(2) $ 14,822,491.25 December 25, ownership of which shall be evidenced by the Class A2035 I-6-RA Variable(2) $ 17,174,060.00 December 25, 2035 I-6-II Certificate. Each such LowerB Variable(2) $ 17,174,060.00 December 25, 2035 I-7-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 19,465,716.25 December 25, 2035 I-8-A Variable(2) $ 21,673,803.75 December 25, 2035 I-8-B Variable(2) $ 21,673,803.75 December 25, 2035 I-9-B Variable(2) $ 23,774,552.50 December 25, 2035 I-10-B Variable(2) $ 25,744,280.00 December 25, 2035 I-11-A Variable(2) $ 27,500,061.25 December 25, 2035 I-11-B Variable(2) $ 27,500,061.25 December 25, 2035 I-12-A Variable(2) $ 26,242,806.25 December 25, 2035 I-12-B Variable(2) $ 26,242,806.25 December 25, 2035 I-13-A Variable(2) $ 25,044,475.00 December 25, 2035 I-13-B Variable(2) $ 25,044,475.00 December 25, 2035 I-14-B Variable(2) $ 23,902,175.00 December 25, 2035 I-15-A Variable(2) $ 22,813,246.25 December 25, 2035 I-15-B Variable(2) $ 22,813,246.25 December 25, 2035 I-16-A Variable(2) $ 21,775,151.25 December 25, 2035 I-16-B Variable(2) $ 21,775,151.25 December 25, 2035 I-17-B Variable(2) $ 20,785,470.00 December 25, 2035 I-18-A Variable(2) $ 19,841,877.50 December 25, 2035 I-18-B Variable(2) $ 19,841,877.50 December 25, 2035 I-19-A Variable(2) $ 18,942,278.75 December 25, 2035 I-19-B Variable(2) $ 18,942,278.75 December 25, 2035 I-20-A Variable(2) $ 18,084,536.25 December 25, 2035 I-20-B Variable(2) $ 18,084,536.25 December 25, 2035 I-21-A Variable(2) $ 17,266,667.50 December 25, 2035 I-21-B Variable(2) $ 17,266,667.50 December 25, 2035 I-22-B Variable(2) $ 17,130,847.50 December 25, 2035 I-23-B Variable(2) $ 47,570,257.50 December 25, 2035 I-24-A Variable(2) $ 39,690,008.75 December 25, 2035 I-24-B Variable(2) $ 39,690,008.75 December 25, 2035 I-25-A Variable(2) $ 33,211,137.50 December 25, 2035 I-25-B Variable(2) $ 33,211,137.50 December 25, 2035 I-26-A Variable(2) $ 27,580,762.50 December 25, 2035 I-26-B Variable(2) $ 27,580,762.50 December 25, 2035 I-27-A Variable(2) $ 10,019,858.75 December 25, 2035 I-27-B Variable(2) $ 10,019,858.75 December 25, 2035 I-28-A Variable(2) $ 9,502,957.50 December 25, 2035 I-28-B Variable(2) $ 9,502,957.50 December 25, 2035 I-29-A Variable(2) $ 9,014,620.00 December 25, 2035 I-29-B Variable(2) $ 9,014,620.00 December 25, 2035 I-30-A Variable(2) $ 8,553,053.75 December 25, 2035 I-30-B Variable(2) $ 8,553,053.75 December 25, 2035 I-31-B Variable(2) $ 8,117,012.50 December 25, 2035 I-32-B Variable(2) $ 7,704,883.75 December 25, 2035 I-33-A Variable(2) $ 7,315,290.00 December 25, 2035 I-33-B Variable(2) $ 7,315,290.00 December 25, 2035 I-34-A Variable(2) $ 6,946,945.00 December 25, 2035 I-34-B Variable(2) $ 6,946,945.00 December 25, 2035 I-35-A Variable(2) $ 6,598,623.75 December 25, 2035 I-35-B Variable(2) $ 6,598,623.75 December 25, 2035 I-36-A Variable(2) $ 6,268,662.50 December 25, 2035 I-36-B Variable(2) $ 6,268,662.50 December 25, 2035 I-37-B Variable(2) $ 5,957,120.00 December 25, 2035 I-38-A Variable(2) $ 5,662,370.00 December 25, 2035 I-38-B Variable(2) $ 5,662,370.00 December 25, 2035 I-39-A Variable(2) $ 5,383,465.00 December 25, 2035 I-39-B Variable(2) $ 5,383,465.00 December 25, 2035 I-40-A Variable(2) $ 5,119,500.00 December 25, 2035 I-40-B Variable(2) $ 5,119,500.00 December 25, 2035 I-41-A Variable(2) $ 4,869,631.25 December 25, 2035 I-41-B Variable(2) $ 4,869,631.25 December 25, 2035 I-42-A Variable(2) $ 4,633,066.25 December 25, 2035 I-42-B Variable(2) $ 4,633,066.25 December 25, 2035 I-43-A Variable(2) $ 4,409,053.75 December 25, 2035 I-43-B Variable(2) $ 4,409,053.75 December 25, 2035 I-44-A Variable(2) $ 4,196,888.75 December 25, 2035 I-44-B Variable(2) $ 4,196,888.75 December 25, 2035 I-45-A Variable(2) $ 3,995,906.25 December 25, 2035 I-45-B Variable(2) $ 3,995,906.25 December 25, 2035 I-46-B Variable(2) $ 3,805,477.50 December 25, 2035 I-47-A Variable(2) $ 3,625,013.75 December 25, 2035 I-47-B Variable(2) $ 3,625,013.75 December 25, 2035 I-48-A Variable(2) $ 3,453,961.25 December 25, 2035 I-48-B Variable(2) $ 3,453,961.25 December 25, 2035 I-49-A Variable(2) $ 78,979,318.75 December 25, 2035 I-49-B Variable(2) $ 78,979,318.75 December 25, 2035 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 65,400,003.66 April 25, 2037 II Variable(2) $ 8,925,392.50 April 25, 2037 I-7-II Certificate. Each such LowerB Variable(2) $ 13,039,056.25 April 25, 2037 I-8-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 13,952,446.25 April 25, 2037 I-11-B Variable(2) $ 13,775,561.25 April 25, 2037 I-14-B Variable(2) $ 12,625,236.25 April 25, 2037 I-18-B Variable(2) $ 11,559,011.25 April 25, 2037 I-21-B Variable(2) $ 21,769,637.50 April 25, 2037 I-27-B Variable(2) $ 8,491,240.00 April 25, 2037 I-29-B Variable(2) $ 7,927,282.50 April 25, 2037 I-32-B Variable(2) $ 7,152,446.25 April 25, 2037 I-38-B Variable(2) $ 4,849,382.50 April 25, 2037 I-39-B Variable(2) $ 4,687,281.25 April 25, 2037 I-40-A Variable(2) $ 4,530,736.25 April 25, 2037 I-40-B Variable(2) $ 4,530,736.25 April 25, 2037 I-41-A Variable(2) $ 4,379,551.25 April 25, 2037 I-41-B Variable(2) $ 4,379,551.25 April 25, 2037 I-43-B Variable(2) $ 4,092,521.25 April 25, 2037 I-44-A Variable(2) $ 3,956,330.00 April 25, 2037 I-45-B Variable(2) $ 3,824,792.50 April 25, 2037 I-47-B Variable(2) $ 3,575,043.75 April 25, 2037 I-48-B Variable(2) $ 3,456,523.75 April 25, 2037 I-49-A Variable(2) $ 3,342,046.25 April 25, 2037 I-49-B Variable(2) $ 3,342,046.25 April 25, 2037 I-50-A Variable(2) $ 3,231,471.25 April 25, 2037 I-50-B Variable(2) $ 3,231,471.25 April 25, 2037 I-52-B Variable(2) $ 3,021,630.00 April 25, 2037 I-53-B Variable(2) $ 2,922,186.25 April 25, 2037 I-55-B Variable(2) $ 2,735,091.25 April 25, 2037 I-56-B Variable(2) $ 2,648,921.25 April 25, 2037 I-57-A Variable(2) $ 2,562,656.25 April 25, 2037 I-57-B Variable(2) $ 2,562,656.25 April 25, 2037 I-58-B Variable(2) $ 2,478,407.50 April 25, 2037 I-59-B Variable(2) $ 2,397,017.50 April 25, 2037 I-61-B Variable(2) $ 2,242,346.25 April 25, 2037 I-62-A Variable(2) $ 2,168,891.25 April 25, 2037 I-62-B Variable(2) $ 2,168,891.25 April 25, 2037 I-63-B Variable(2) $ 2,097,986.25 April 25, 2037 I-66-B Variable(2) $ 1,899,357.50 April 25, 2037 I-67-B Variable(2) $ 1,837,556.25 April 25, 2037 I-70-A Variable(2) $ 1,664,402.50 April 25, 2037 I-70-B Variable(2) $ 1,664,402.50 April 25, 2037 I-71-A Variable(2) $ 52,672,533.75 April 25, 2037 I-71-B Variable(2) $ 52,672,533.75 April 25, 2037 _________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView sell Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trustcollectively, the primary assets of which are the Mortgage Loans (as defined below"Certificates"). The Depositor intends to sell the Certificates , to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesFund. As provided herein, the Trustee shall elect that REMIC Administrator will make an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk Reserve Fund definition of REMIC I (as defined herein), and subject to this Agreement (including the Yield Maintenance Account and Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMIC” or, "REMIC I." The Uncertificated REMIC I Regular Interests will be "regular interests" in the alternative, the “Lower-Tier REMIC” REMIC I and the “UpperClass R-Tier REMIC”I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). Each CertificateA segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, other than the Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-7A Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20 Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23 Certificates, Class A-24 Certificates, Class A-25 Certificates, Class A-26 Certificates, Class A-27 Certificates, Class A-28, Class A-R Certificate P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class A-R-II Certificate, shall represent ownership Certificates will be the sole class of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners "residual interests" therein for purposes of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderProvisions. The Class A-R Certificate represents V Certificates will represent the sole class of residual entire beneficial ownership interest in the Upper-Tier REMIC and the Uncertificated Class A-R-II Certificate represents V REMIC Regular Interests. The terms and provisions of the sole class of residual interest Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the LowerStandard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-Tier REMICreference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross- reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Lower-Tier REMIC Pooling and Servicing Agreement shall hold be dated as assets all property of the Trust Fund other than date of the assets held in Series Supplement. The following table irrevocably sets forth the Basis Risk Reserve Funddesignation, the Yield Maintenance AccountUncertificated REMIC I Pass- Through Rate, the Yield Maintenance Agreementsinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the interests in "latest possible maturity date" for each of the LowerUncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated REMIC I Pass-Tier Through Initial Uncertificated Latest DESIGNATION U Rate Principal Balance Possible Maturity(1) REMIC formed hereby. The Upper Tier I Regular Interest O 8.00% $60,000,000.00 May 25, 2033 REMIC shall hold as assets the uncertificated Lower-Tier I Regular Interest P 8.00% $11,200,000.00 May 25, 2033 REMIC InterestsI Regular Interest Q 8.00% $60,000,000.00 May 25, other than the Class LT-2033 REMIC I Regular Interest R Interest8.00% $84,000,000.00 May 25, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier 2033 REMIC I Regular Interest is hereby designated as a S 5.50% $344,347,343.78 May 25, 2033 REMIC regular interest.I Regular Interest T 5.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest U 5.00% $40,000,000.00 May 25, 2033 REMIC I Regular Interest V 4.75% $40,000,000.00 May 25, 2033 REMIC I Regular Interest W 4.50% $68,000,000.00 May 25, 2033 REMIC I Regular Interest X 4.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest Y 4.00% $240,000,000.00 May 25, 2033 REMIC I Regular Interest Z 0.00% $2,869,793.25 May 25, 2033 REMIC I IO Regular Interests (2) (3) May 25, 2033 -------------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 11 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A B-1 Certificates, (iv) the Class 2-A-1B B-2 Certificates, (v) the Class 2-A-1C B-3 Certificates, (vi) the Class X-1 B-4 Certificates, (vii) the Class X-2 B-5 Certificates, (viii) the Class PO-1 B-6 Certificates, (ix) the Class PO-2 B-7 Certificates, (x) the Class A-R C Certificates, (xi), ) the Class A-R-II Certificates, P Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided herein, the Trustee an election shall elect be made that the Trust Fund (exclusive of the assets held in (i) the Basis Risk Reserve Fund Fund, (ii) the Swap Agreement, (iii) the Basis Risk Cap Agreement, (iv) the Basis Risk Cap Replacement Receipts Account, (v) the Basis Risk Cap Termination Receipts Account, (vi) the Swap Account, (vii) the Swap Replacement Receipts Account, (viii) the Swap Termination Receipts Account, (ix) the Supplemental Interest Trust, (x) the obligation to pay Net Swap Payments, and (xi) the right to receive and the Yield Maintenance Account obligation to pay Basis Risk Shortfalls and Unpaid Interest Shortfall Amounts (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure : the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”).” Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such elections. Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive payments in respect of Basis Risk Shortfalls from (i) the Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Cap Account as provided in Section 4.045.09 and (iii) from the Swap Account as provided in Section 5.10. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Basis Risk Cap Account, the Supplemental Interest Trust and the Yield Maintenance Swap Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each of the Upper-Tier REMIC REMIC, Middle-Tier REMIC, and the Class ALower-RTier REMIC. The Lower-II Certificate represents Tier REMIC shall hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”), which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC, and a residual interest (the “LT-R Interest”), which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The LowerMiddle-Tier REMIC shall hold as its assets all property the uncertificated Lower Tier Regular Interests in the Lower-Tier REMIC and will issue interests (the “Middle-Tier Regular Interests”), which will be uncertificated and will represent the regular interests in the Middle-Tier REMIC, and a residual interest (the “MT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as its assets the uncertificated Middle-Tier Regular Interests in the Middle-Tier REMIC. For purposes of the Trust Fund other than the assets held in the Basis Risk Reserve FundREMIC Provisions, the Yield Maintenance Accountstartup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC The following table sets forth (or describes) the designation, the Yield Maintenance Agreementsinterest rate, and initial principal balance for each of the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated REMIC: Lower-Tier REMIC Interests, other than the Class Designation Initial Principal Balance Interest Rate LT-A $ 40,875,707.16 (1) LT-F1 $ 4,424,606.25 (2) LT-V1 $ 4,424,606.25 (3) LT-F2 $ 4,793,871.25 (2) LT-V2 $ 4,793,871.25 (3) LT-F3 $ 5,137,295.00 (2) LT-V3 $ 5,137,295.00 (3) LT-F4 $ 5,783,471.25 (2) LT-V4 $ 5,783,471.25 (3) LT-F5 $ 5,156,305.00 (2) LT-V5 $ 5,156,305.00 (3) LT-F6 $ 4,997,538.75 (2) LT-V6 $ 4,997,538.75 (3) LT-F7 $ 4,843,661.25 (2) LT-V7 $ 4,843,661.25 (3) LT-F8 $ 4,694,518.75 (2) LT-V8 $ 4,694,518.75 (3) LT-F9 $ 4,549,967.50 (2) LT-V9 $ 4,549,967.50 (3) LT-F10 $ 4,409,867.50 (2) LT-V10 $ 4,409,867.50 (3) LT-F11 $ 4,274,077.50 (2) LT-V11 $ 4,274,077.50 (3) LT-F12 $ 4,142,468.75 (2) LT-V12 $ 4,142,468.75 (3) LT-F13 $ 4,014,912.50 (2) LT-V13 $ 4,014,912.50 (3) LT-F14 $ 3,891,281.25 (2) LT-V14 $ 3,891,281.25 (3) LT-F15 $ 3,771,456.25 (2) LT-V15 $ 3,771,456.25 (3) LT-F16 $ 3,655,320.00 (2) LT-V16 $ 3,655,320.00 (3) LT-F17 $ 3,542,760.00 (2) LT-V17 $ 3,542,760.00 (3) LT-F18 $ 3,433,662.50 (2) LT-V18 $ 3,433,662.50 (3) LT-F19 $ 3,327,926.25 (2) LT-V19 $ 3,327,926.25 (3) LT-F20 $ 3,225,443.75 (2) LT-V20 $ 3,225,443.75 (3) LT-F21 $ 3,126,116.25 (2) LT-V21 $ 3,126,116.25 (3) LT-F22 $ 3,029,846.25 (2) LT-V22 $ 3,029,846.25 (3) Lower-Tier REMIC Class Designation Initial Principal Balance Interest Rate LT-F23 $ 2,936,541.25 (2) LT-V23 $ 2,936,541.25 (3) LT-F24 $ 2,846,107.50 (2) LT-V24 $ 2,846,107.50 (3) LT-F25 $ 2,758,457.50 (2) LT-V25 $ 2,758,457.50 (3) LT-F26 $ 2,673,507.50 (2) LT-V26 $ 2,673,507.50 (3) LT-F27 $ 2,591,172.50 (2) LT-V27 $ 2,591,172.50 (3) LT-F28 $ 2,511,371.25 (2) LT-V28 $ 2,511,371.25 (3) LT-F29 $ 2,434,027.50 (2) LT-V29 $ 2,434,027.50 (3) LT-F30 $ 2,359,065.00 (2) LT-V30 $ 2,359,065.00 (3) LT-F31 $ 2,286,410.00 (2) LT-V31 $ 2,286,410.00 (3) LT-F32 $ 2,215,992.50 (2) LT-V32 $ 2,215,992.50 (3) LT-F33 $ 2,147,742.50 (2) LT-V33 $ 2,147,742.50 (3) LT-F34 $ 2,081,595.00 (2) LT-V34 $ 2,081,595.00 (3) LT-F35 $ 2,017,482.50 (2) LT-V35 $ 2,017,482.50 (3) LT-F36 $ 1,955,343.75 (2) LT-V36 $ 1,955,343.75 (3) LT-F37 $ 1,895,120.00 (2) LT-V37 $ 1,895,120.00 (3) LT-F38 $ 1,836,750.00 (2) LT-V38 $ 1,836,750.00 (3) LT-F39 $ 1,780,176.25 (2) LT-V39 $ 1,780,176.25 (3) LT-F40 $ 1,725,345.00 (2) LT-V40 $ 1,725,345.00 (3) LT-F41 $ 1,672,202.50 (2) LT-V41 $ 1,672,202.50 (3) LT-F42 $ 1,620,695.00 (2) LT-V42 $ 1,620,695.00 (3) LT-F43 $ 1,570,775.00 (2) LT-V43 $ 1,570,775.00 (3) LT-F44 $ 1,522,390.00 (2) LT-V44 $ 1,522,390.00 (3) LT-F45 $ 1,475,497.50 (2) Lower-Tier REMIC Class Designation Initial Principal Balance Interest Rate LT-V45 $ 1,475,497.50 (3) LT-F46 $ 1,430,047.50 (2) LT-V46 $ 1,430,047.50 (3) LT-F47 $ 1,385,996.25 (2) LT-V47 $ 1,385,996.25 (3) LT-F48 $ 1,343,302.50 (2) LT-V48 $ 1,343,302.50 (3) LT-F49 $ 1,453,556.25 (2) LT-V49 $ 1,453,556.25 (3) LT-F50 $ 1,632,238.75 (2) LT-V50 $ 1,632,238.75 (3) LT-F51 $ 7,844,956.25 (2) LT-V51 $ 7,844,956.25 (3) LT-F52 $ 12,180,742.50 (2) LT-V52 $ 12,180,742.50 (3) LT-F53 $ 589,963.75 (2) LT-V53 $ 589,963.75 (3) LT-F54 $ 571,782.50 (2) LT-V54 $ 571,782.50 (3) LT-F55 $ 554,161.25 (2) LT-V55 $ 554,161.25 (3) LT-F56 $ 537,083.75 (2) LT-V56 $ 537,083.75 (3) LT-F57 $ 520,530.00 (2) LT-V57 $ 520,530.00 (3) LT-F58 $ 504,487.50 (2) LT-V58 $ 504,487.50 (3) LT-F59 $ 488,940.00 (2) LT-V59 $ 488,940.00 (3) LT-F60 $ 473,871.25 (2) LT-V60 $ 473,871.25 (3) LT-F61 $ 459,265.00 (2) LT-V61 $ 459,265.00 (3) LT-F62 $ 445,110.00 (2) LT-V62 $ 445,110.00 (3) LT-F63 $ 431,391.25 (2) LT-V63 $ 431,391.25 (3) LT-F64 $ 418,095.00 (2) LT-V64 $ 418,095.00 (3) LT-F65 $ 405,208.75 (2) LT-V65 $ 405,208.75 (3) LT-F66 $ 392,717.50 (2) LT-V66 $ 392,717.50 (3) LT-F67 $ 380,613.75 (2) LT-V67 $ 380,613.75 (3) Lower-Tier REMIC Class Designation Initial Principal Balance Interest Rate LT-F68 $ 368,881.25 (2) LT-V68 $ 368,881.25 (3) LT-F69 $ 357,511.25 (2) LT-V69 $ 357,511.25 (3) LT-F70 $ 346,491.25 (2) LT-V70 $ 346,491.25 (3) LT-F71 $ 335,810.00 (2) LT-V71 $ 335,810.00 (3) LT-F72 $ 399,658.75 (2) LT-V72 $ 399,658.75 (3) LT-F73 $ 345,087.50 (2) LT-V73 $ 345,087.50 (3) LT-F74 $ 364,772.50 (2) LT-V74 $ 364,772.50 (3) LT-F75 $ 1,738,266.25 (2) LT-V75 $ 1,738,266.25 (3) LT-F76 $ 7,703,782.50 (2) LT-V76 $ 7,703,782.50 (3) LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.(4) (4) ___________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-11)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052003-5 3 Mortgage Loan Pass-Through Certificates, Series 20052003-5 3 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1A-A-1B X Certificates, (iii) the Class 2-A-1A 2A-1 Certificates, (iv) the Class 2-A-1B 2A-2 Certificates, (v) the Class 2-A-1C 2A-3 Certificates, (vi) the Class X-1 CertificatesA-R Certificate, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II Certificates, B-5 Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsFund) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A1A-1, Class 1-A-1B2A-1, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 2A-2 and Class B-7 2A-3 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 A-X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderFund. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT1A-1 (1) $ 12,487,500.00 Class 1A-1 LT2A-1 (1) $ 67,278,000.00 Class 2A-1 LT2A-2 (1) $ 15,050,000.00 Class 2A-2 LT2A-3 (1) $ 450,000.00 Class 2-A-3 LTA-R (1) $ 25.00 Class A-R LT-Group 1 (2) $ 13,118,580.37 N/A LT-SC-1 (2) $ 26,293.97 N/A LT-Group 2 (3) $ 86,960,578.04 N/A LT-SC-2 (3) $ 174,274.09 N/A LTQ (1) $ 200,559,452.94 N/A LT-R (4) (4) Class A-R __________________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc Harborview Mort Ln Tr 03 3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty- one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 B Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-CX Certificates and (xxi) the Class R-PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Account, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsMaster Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $59,668,893.53 Xxxxxxxx0 X/X Xxxx, 0000 I-8-B 7,913,220.85 Variable2 June, 2046 I-20-B 74,281,182.99 Variable2 June, 2046 I-28-B 915,709.21 Variable2 June, 2046 I-29-A 530,669.05 Variable2 October 2008 June, 2046 I-29-B 530,669.05 Variable2 June, 2046 I-30-B 518,140.59 Variable2 June, 2046 I-33-A 691,838.99 Variable2 May 2009 June, 2046 I-33-B 691,838.99 Variable2 June, 2046 I-34-B 108,619.57 Variable2 June, 2046 I-38-B 1,437,249.53 Variable2 June, 2046 I-45-B 1,292,140.21 Variable2 June, 2046 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 I-49-B 1,074,461.33 Variable2 June, 2046 I-50-A 989,074.53 Variable2 November 2010 June, 2046 I-50-B 989,074.53 Variable2 June, 2046 I-51-A 918,007.93 Variable2 December 2010 June, 2046 I-51-B 918,007.93 Variable2 June, 2046 I-52-A 860,908.47 Variable2 January 2011 June, 2046 I-52-B 860,908.47 Variable2 June, 2046 I-53-B 796,330.13 Variable2 June, 2046 I-54-B 725,616.40 Variable2 June, 2046 I-55-B 13,183,513.10 Variable2 June, 2046 IIX3 101,397,378.87 Variable2 N/A June, 2046 II-1-B 5,925,408.83 Variable2 June, 2046 II-3-B 7,902,959.38 Variable2 June, 2046 II-5-B 9,799,062.48 Variable2 June, 2046 II-6-B 11,000,053.37 Variable2 June, 2046 II-7-B 12,159,347.11 Variable2 June, 2046 II-8-B 13,447,205.15 Variable2 June, 2046 II-9-B 15,034,657.30 Variable2 June, 2046 II-12-B 19,995,625.80 Variable2 June, 2046 II-13-A 18,657,337.03 Variable2 June 2007 June, 2046 II-13-B 18,657,337.03 Variable2 June, 2046 II-14-B 17,451,745.47 Variable2 June, 2046 II-15-B 16,362,003.75 Variable2 June, 2046 II-16-B 14,642,698.28 Variable2 June, 2046 II-17-B 13,458,736.72 Variable2 June, 2046 II-18-B 12,325,854.94 Variable2 June, 2046 II-19-B 11,310,406.60 Variable2 June, 2046 II-20-B 126,228,539.01 Variable2 June, 2046 II-21-B 11,046,964.05 Variable2 June, 2046 II-24-B 3,665,791.46 Variable2 June, 2046 II-25-B 3,454,743.48 Variable2 June, 2046 II-26-B 3,123,423.80 Variable2 June, 2046 II-27-B 2,111,639.37 Variable2 June, 2046 II-28-B 1,556,095.79 Variable2 June, 2046 II-29-A 901,783.95 Variable2 October 2008 June, 2046 II-29-B 901,783.95 Variable2 June, 2046 II-30-A 880,493.91 Variable2 November 2008 June, 2046 II-30-B 880,493.91 Variable2 June, 2046 II-33-B 1,175,665.51 Variable2 June, 2046 II-34-A 184,580.93 Variable2 July 2009 June, 2046 II-34-B 184,580.93 Variable2 June, 2046 II-35-B 3,094,912.01 Variable2 June, 2046 II-36-B 2,905,460.66 Variable2 June, 2046 II-37-B 2,586,402.18 Variable2 June, 2046 II-38-A 2,442,366.97 Variable2 November 2009 June, 2046 II-38-B 2,442,366.97 Variable2 June, 2046 II-39-A 2,713,383.19 Variable2 December 2009 June, 2046 II-39-B 2,713,383.19 Variable2 June, 2046 II-40-B 2,719,319.42 Variable2 June, 2046 II-41-A 2,634,253.69 Variable2 February 2010 June, 2046 II-41-B 2,634,253.69 Variable2 June, 2046 II-42-A 2,551,109.63 Variable2 March 2010 June, 2046 II-42-B 2,551,109.63 Variable2 June, 2046 II-43-B 2,453,294.50 Variable2 June, 2046 II-44-A 2,308,777.70 Variable2 May 2010 June, 2046 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 II-44-B 2,308,777.70 Variable2 June, 2046 II-45-A 2,195,777.79 Variable2 June 2010 June, 2046 II-45-B 2,195,777.79 Variable2 June, 2046 II-47-B 1,899,292.03 Variable2 June, 2046 II-48-B 1,806,749.27 Variable2 June, 2046 II-50-B 1,680,767.97 Variable2 June, 2046 II-51-B 1,560,002.07 Variable2 June, 2046 II-52-B 1,462,971.03 Variable2 June, 2046 II-55-A 22,403,191.90 Variable2 April 2011 June, 2046 II-55-B 22,403,191.90 Variable2 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. REMIC 2 As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Account, the Interest Coverage Account, and the Master Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class A-R-II Certificate represents R-2 Interest shall represent the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Initial Uncertificated Uncertificated REMIC 2 Pass-Through Assumed Final Designation Principal Balance Rate Maturity Date1 AA $854,460,105.86 Variable2 June, 2046 A-IA 2,569,505.00 Variable2 June, 2046 A-IIA1 1,815,495.00 Variable2 June, 2046 A-IIA2 846,335.00 Variable2 June, 2046 A-IIA3 1,460,820.00 Variable2 June, 2046 A-IIA4 243,795.00 Variable2 June, 2046 M1 292,085.00 Variable2 June, 2046 M2 270,290.00 Variable2 June, 2046 M3 165,660.00 Variable2 June, 2046 M4 148,225.00 Variable2 June, 2046 M5 143,865.00 Variable2 June, 2046 M6 135,145.00 Variable2 June, 2046 M7 126,425.00 Variable2 June, 2046 M8 82,830.00 Variable2 June, 2046 M9 74,110.00 Variable2 June, 2046 M10 74,110.00 Variable2 June, 2046 B 87,190.00 Variable2 June, 2046 ZZ 8,902,076.34 Variable2 June, 2046 1GRP 64,600.98 Variable2 June, 2046 1SUB 13,210.88 Variable2 June, 2046 2GRP 109,778.64 Variable2 June, 2046 2SUB 22,449.74 Variable2 June, 2046 Swap IO FMR IO N/A3 N/A4 Variable2 Variable2 June, 2046 June, 2046 XX N/A4 Variable2 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property month following the month of the Trust Fund other than maturity date for the assets held in Mortgage Loan with the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as a the “latest possible maturity date” for each REMIC regular interest2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
PRELIMINARY STATEMENT. Through Pursuant to this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052008-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from the Seller pursuant to the Mortgage Loan Purchase Agreement (as defined below). On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust and receive in consideration therefor the Certificates evidencing the entire beneficial ownership of the Trust. The Depositor intends to sell and deliver to the Certificates Seller or its designee the Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1-A-1B 1A-2 Certificates, (iii) the Class 21-A-1A CertificatesAX certificates, (iv) the Class 2-A-1B 2A-1 Certificates, (v) the Class 2-A-1C 2A-2 Certificates, (vi) the Class X-1 2-AX Certificates, (vii) the Class X-2 3A-1 Certificates, (viii) the Class PO-1 3A-2 Certificates, (ix) the Class PO-2 3-AX Certificates, (x) the Class A-R 4A-1 Certificates, (xi), ) the Class A-R-II 4A-2 Certificates, (xii) the Class P 4-AX Certificates, (xiii) the Class A-R Certificate, (xiv) the Class B-1 Certificates, (xivxv) the Class B-2 Certificates, (xvxvi) the Class B-3 Certificates, (xvixvii) the Class B-4 Certificates, (xviixviii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 B-6 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund comprises three REMICs: the lower-tier REMIC (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” ”; the middle-tier REMIC (the “Middle-Tier REMIC”); and the upper-tier REMIC (the “Upper-Tier REMIC”). Each CertificateThe Lower-Tier REMIC will hold as its assets all of the assets of the Trust Fund, other than the Additional Collateral, and will issue interests (the “Lower-Tier Regular Interests”), which will be uncertificated and will represent the regular interests in the Lower Tier REMIC, and a residual interest (the “LT-R Interest”), ownership of which will be evidenced by the Class A-R Certificate and the Class A-R-II Certificate, shall which will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall Trustee will hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold Regular Interests as assets of the uncertificated LowerMiddle-Tier REMIC REMIC, which will issue interests (the “Middle-Tier Regular Interests”), other than which will be uncertificated and will represent the Class LTregular interests in the Middle-Tier REMIC, and a residual interest (the “MT-R Interest”), ownership of which shall will be evidenced by the Class A-RR Certificate and which will represent the sole class of residual interest in the Middle-II CertificateTier REMIC. The Trustee will hold the Middle-Tier REMIC Regular Interests as assets of the Upper-Tier REMIC. Each such LowerCertificate, other than the Class A-R Certificates, will represent regular interests in the Upper-Tier REMIC, and the Class A-R Certificate will represent the residual interest in the Upper-Tier REMIC as well as ownership of the LT-R Interest is hereby designated as a and MT-R Interest. All REMIC regular interestand residual interests created hereby will be retired on or before the Latest Possible Maturity Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2008-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView sell Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trustcollectively, the primary assets of which are the Mortgage Loans (as defined below"Certificates"). The Depositor intends to sell the Certificates , to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesFund. As provided herein, the Trustee shall elect that REMIC Administrator will make an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement and any payments thereunder and the Reserve Fund and any payments therefrom), as a real estate mortgage investment conduit (the Yield Maintenance Account and the Yield Maintenance Agreements"REMIC") be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMIC” or, "REMIC I." The Uncertificated REMIC Regular I Interests will be "regular interests" in the alternative, the “Lower-Tier REMIC” REMIC I and the “UpperClass R-Tier REMIC”I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). Each CertificateA segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, other than the Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-R Certificate P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II. The Class A-R-II Certificate, shall represent ownership Certificates will be the sole class of a regular interest "residual interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners REMIC II for purposes of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderProvisions. The Class A-R Certificate represents V Certificates will represent the sole class of residual entire beneficial ownership interest in the Upper-Tier Uncertificated REMIC II Regular Interests Z. The terms and provisions of the Class A-R-II Certificate represents the sole class of residual interest Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the LowerStandard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-Tier REMICreference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Lower-Tier REMIC Pooling and Servicing Agreement shall hold be dated as assets all property of the Trust Fund other than date of the assets held in Series Supplement. The following table sets forth the Basis Risk Reserve Funddesignation, the Yield Maintenance Accounttype, the Yield Maintenance AgreementsPass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and certain features for each Class of Certificates comprising the interests in the LowerTrust Fund created hereunder. Aggregate Initial Certificate Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Through Principal Maturity Minimum Designation Rate Balance Features(1) Date Moody's/S&P/Fitch Denominations(2) Class LT-R Interest, ownership of which shall be evidenced by the A-1 5.50% $34,400,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-2 Variable $25,000,000.00 Senior/ Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate(3) Senior/Inverse Class A-3(3) Variable Floater/Interest Rate(3) Notional(3) Only/Adjustable Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-4 6.00% Notional(4) Senior/Interest Only/Fixed Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-5 6.00% Senior Support/Lockout/Fixed September 2036 Aaa/AAA/AAA $100,000.00 $2,600,000.00 Rate Class A-6 6.00% $37,400,000.00 Super Senior/Lockout/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-7 0.00% $6,250,000.00 Senior/Principal Only September 2036 Aaa/AAA/AAA $100,000.00 Class A-8 5.50% $60,000,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-9 6.00% Notional(5) Senior/Interest Only/Fixed Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-10 6.00% $58,750,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-11 Variable Senior/Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate(6) $53,340,000.00 Senior/Inverse Class A-12 Variable Floater/Interest Rate(6) Notional(6) Only/Adjustable Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-13(7) Variable Senior/Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate $50,080,000.00 Class A-14(7) Variable Senior/Inverse September 2036 Aaa/AAA/AAA $100,000.00 Rate $12,520,000.00 Floater/Adjustable Rate Class A-15 6.00% $8,546,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-16 6.00% $51,000,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-P 0.00% $773,946.90 Senior/Principal Only September 2036 Aaa/AAA/AAA $100,000.00 Class A-V Variable Notional Senior/Interest Only/Variable September 2036 Aaa/AAA/AAA $2,000,000.00 Rate Rate Class R-I 6.00% $100.00 Senior/Residual/Fixed Rate September 2036 Aaa/AAA/AAA (8) Class R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.6.00% $100.00 Senior/Residual/Fixed Rate September 2036 Aaa/AAA/AAA (8) Class M-1 6.00% $8,949,900.00 Mezzanine/Fixed Rate September 2036 NA/NA/AA $100,000.00 Class M-2 6.00% $2,497,600.00 Mezzanine/Fixed Rate September 2036 NA/NA/A $250,000.00 Class M-3 6.00% $1,665,000.00 Mezzanine/Fixed Rate September 2036 NA/NA/BBB $250,000.00 Class B-1 6.00% $832,500.00 Subordinate/Fixed Rate September 2036 NA/NA/BB $250,000.00 Class B-2 6.00% $832,500.00 Subordinate/Fixed Rate September 2036 NA/NA/B $250,000.00 Class B-3 6.00% $832,796.62 Subordinate/Fixed Rate September 2036 NA/NA/NA $250,000.00
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RFMSI Series 2006-S8 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 B Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 91,012,721.51 Variable2 N/A November 2046 I-5-Tier REMICB 724,073.82 Variable2 November 2046 I-12-B 5,720,371.90 Variable2 November 2046 I-14-B 5,616,680.52 Variable2 November 2046 I-15-B 5,455,296.25 Variable2 November 2046 I-18-A 4,674,500.26 Variable2 May 2008 November 2046 I-18-B 4,674,500.26 Variable2 November 2046 I-20-B 5,528,213.69 Variable2 November 2046 I-21-B 5,240,769.64 Variable2 November 2046 I-22-B 47,271,953.89 Variable2 November 2046 I-23-B 6,443,588.38 Variable2 November 2046 I-24-B 6,661,376.34 Variable2 November 2046 I-25-B 5,736,844.07 Variable2 November 2046 I-26-B 4,434,964.01 Variable2 November 2046 I-27-B 3,663,717.77 Variable2 November 2046 I-28-B 3,161,185.92 Variable2 November 2046 I-29-A 2,747,466.50 Variable2 April 2009 November 2046 I-29-B 2,747,466.50 Variable2 November 2046 I-30-B 2,333,351.15 Variable2 November 2046 I-33-B 1,996,035.21 Variable2 November 2046 I-34-B 2,640,303.00 Variable2 November 2046 I-35-A 371,178.94 Variable2 October 2009 November 2046 I-35-B 371,178.94 Variable2 November 2046 I-38-B 1,942,136.87 Variable2 November 2046 I-40-B 1,764,913.09 Variable2 November 2046 I-41-A 1,676,399.20 Variable2 April 2010 November 2046 I-42-A 1,548,675.58 Variable2 May 2010 November 2046 I-42-B 1,548,675.58 Variable2 November 2046 I-44-A 1,248,031.02 Variable2 July 2010 November 2046 I-44-B 1,248,031.02 Variable2 November 2046 I-45-A 1,195,354.70 Variable2 August 2010 November 2046 I-45-B 1,195,354.70 Variable2 November 2046 I-47-B 1,362,344.89 Variable2 November 2046 I-48-B 1,312,950.54 Variable2 November 2046 I-49-B 1,245,215.60 Variable2 November 2046 I-50-B 1,193,674.38 Variable2 November 2046 I-51-A 1,103,113.95 Variable2 February 2011 November 2046 I-51-B 1,103,113.95 Variable2 November 2046 I-52-A 1,020,761.85 Variable2 March 2011 November 2046 I-52-B 1,020,761.85 Variable2 November 2046 I-53-A 966,559.99 Variable2 April 2011 November 2046 I-53-B 966,559.99 Variable2 November 2046 I-54-B 994,234.22 Variable2 November 2046 I-55-B 1,033,070.16 Variable2 November 2046 I-56-A 935,359.69 Variable2 July 2011 November 2046 I-56-B 935,359.69 Variable2 November 2046 I-57-A 858,790.80 Variable2 August 2011 November 2046 I-57-B 858,790.80 Variable2 November 2046 I-58-A 767,515.77 Variable2 September 2011 November 2046 I-58-B 767,515.77 Variable2 November 2046 I-59-B 11,056,071.12 Variable2 November 2046 IIX3 173,903,265.59 Variable2 N/A November 2046 II-1-B 3,452,994.13 Variable2 November 2046 II-2-B 4,074,496.02 Variable2 November 2046 II-3-B 4,692,764.58 Variable2 November 2046 II-4-B 5,302,799.66 Variable2 November 2046 II-6-B 2,121,653.29 Variable2 November 2046 II-8-B 3,952,346.36 Variable2 November 2046 II-9-B 5,001,236.51 Variable2 November 2046 II-10-B 6,388,425.55 Variable2 November 2046 II-11-A 10,286,135.84 Variable2 October 2007 November 2046 II-11-B 10,286,135.84 Variable2 November 2046 II-12-A 10,930,245.10 Variable2 November 2007 November 2046 II-12-B 10,930,245.10 Variable2 November 2046 II-13-A 11,030,022.73 Variable2 December 2007 November 2046 II-13-B 11,030,022.73 Variable2 November 2046 II-14-B 10,732,115.98 Variable2 November 2046 II-15-B 10,423,749.75 Variable2 November 2046 II-16-B 10,141,474.32 Variable2 November 2046 II-18-A 8,931,837.74 Variable2 May 2008 November 2046 II-18-B 8,931,837.74 Variable2 November 2046 II-19-A 11,216,814.02 Variable2 June 2008 November 2046 II-19-B 11,216,814.02 Variable2 November 2046 II-20-A 10,563,077.31 Variable2 July 2008 November 2046 II-20-B 10,563,077.31 Variable2 November 2046 II-21-B 10,013,841.36 Variable2 November 2046 II-22-B 90,325,253.61 Variable2 November 2046 II-23-B 12,312,136.62 Variable2 November 2046 II-24-B 12,728,276.66 Variable2 November 2046 II-25-B 10,961,719.43 Variable2 November 2046 II-26-A 8,474,141.99 Variable2 January 2009 November 2046 II-26-B 8,474,141.99 Variable2 November 2046 II-27-A 7,000,477.23 Variable2 February 2009 November 2046 II-27-B 7,000,477.23 Variable2 November 2046 II-28-B 6,040,260.58 Variable2 November 2046 II-29-A 5,249,743.00 Variable2 April 2009 November 2046 II-29-B 5,249,743.00 Variable2 November 2046 II-30-A 4,458,468.85 Variable2 May 2009 November 2046 II-30-B 4,458,468.85 Variable2 November 2046 II-31-B 4,178,349.85 Variable2 November 2046 II-32-A 4,013,977.53 Variable2 July 2009 November 2046 II-32-B 4,013,977.53 Variable2 November 2046 II-33-A 3,813,939.79 Variable2 August 2009 November 2046 II-33-B 3,813,939.79 Variable2 November 2046 II-34-A 5,044,979.50 Variable2 September 2009 November 2046 II-34-B 5,044,979.50 Variable2 November 2046 II-35-A 709,233.06 Variable2 October 2009 November 2046 II-35-B 709,233.06 Variable2 November 2046 II-36-B 7,423,525.06 Variable2 November 2046 II-37-B 3,939,801.99 Variable2 November 2046 II-38-A 3,710,953.13 Variable2 January 2010 November 2046 II-38-B 3,710,953.13 Variable2 November 2046 II-39-A 3,533,025.51 Variable2 February 2010 November 2046 II-39-B 3,533,025.51 Variable2 November 2046 II-40-A 3,372,321.41 Variable2 March 2010 November 2046 II-40-B 3,372,321.41 Variable2 November 2046 II-41-A 3,203,192.80 Variable2 April 2010 November 2046 II-41-B 3,203,192.80 Variable2 November 2046 II-42-A 2,959,143.92 Variable2 May 2010 November 2046 II-42-B 2,959,143.92 Variable2 November 2046 II-43-A 2,802,342.40 Variable2 June 2010 November 2046 II-43-B 2,802,342.40 Variable2 November 2046 II-44-A 2,384,684.98 Variable2 July 2010 November 2046 II-44-B 2,384,684.98 Variable2 November 2046 II-45-A 2,284,033.30 Variable2 August 2010 November 2046 II-45-B 2,284,033.30 Variable2 November 2046 II-47-A 2,603,111.11 Variable2 October 2010 November 2046 II-47-B 2,603,111.11 Variable2 November 2046 II-48-A 2,508,730.46 Variable2 November 2010 November 2046 II-48-B 2,508,730.46 Variable2 November 2046 II-49-A 2,379,305.40 Variable2 December 2010 November 2046 II-49-B 2,379,305.40 Variable2 November 2046 II-50-A 2,280,822.62 Variable2 January 2011 November 2046 II-50-B 2,280,822.62 Variable2 November 2046 II-51-A 2,107,783.55 Variable2 February 2011 November 2046 II-51-B 2,107,783.55 Variable2 November 2046 II-52-A 1,950,428.65 Variable2 March 2011 November 2046 II-52-B 1,950,428.65 Variable2 November 2046 II-55-A 1,973,946.84 Variable2 June 2011 November 2046 II-55-B 1,973,946.84 Variable2 November 2046 II-56-A 1,787,245.81 Variable2 July 2011 November 2046 II-56-B 1,787,245.81 Variable2 November 2046 II-57-A 1,640,941.20 Variable2 August 2011 November 2046 II-57-B 1,640,941.20 Variable2 November 2046 II-58-A 1,466,536.73 Variable2 September 2011 November 2046 II-58-B 1,466,536.73 Variable2 November 2046 II-59-A 21,125,473.88 Variable2 October 2011 November 2046 II-59-B 21,125,473.88 Variable2 November 2046 _________________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. REMIC 2 As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each Certificate, other than None of the Class REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $744,842,230.21 Variable2 November 2046 A-R Certificate and the Class IA 2,101,980.00 Variable2 November 2046 A-RIIA1 1,647,385.00 Variable2 November 2046 A-II CertificateIIA2 714,610.00 Variable2 November 2046 A-IIA3 1,220,790.00 Variable2 November 2046 A-IIA4 433,605.00 Variable2 November 2046 M1 243,215.00 Variable2 November 2046 M2 228,015.00 Variable2 November 2046 M3 140,610.00 Variable2 November 2046 M4 125,410.00 Variable2 November 2046 M5 125,410.00 Variable2 November 2046 M6 110,205.00 Variable2 November 2046 M7 79,805.00 Variable2 November 2046 M8 79,805.00 Variable2 November 2046 M9 53,205.00 Variable2 November 2046 M10 53,205.00 Variable2 November 2046 B 76,005.00 Variable2 November 2046 ZZ 7,767,601.84 Variable2 November 2046 1GRP 52,223.04 Variable2 November 2046 1SUB 10,183.44 Variable2 November 2046 2GRP 99,785.58 Variable2 November 2046 2SUB 19,457.78 Variable2 November 2046 Swap IO N/A3 Variable2 November 2046 FMR IO N/A4 Variable2 November 2046 XX 759,861,442.21 Variable2 November 2046 ________________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, shall represent ownership of a regular interest the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMIC, as described Through Rate” herein. In addition3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC 1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. REMIC 3 As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: Class Designation Original Class Certificate Principal Balance Pass-Through Rate Assumed Final Maturity Date1 I‑A $420,396,000.00 Variable2 November 2046 II-A1 329,477,000.00 Variable2 November 2046 II-A2 142,922,000.00 Variable2 November 2046 II-A3 244,158,000.00 Variable2 November 2046 II-A4 86,721,000.00 Variable2 November 2046 M‑1 48,643,000.00 Variable2 November 2046 M‑2 45,603,000.00 Variable2 November 2046 M‑3 28,122,000.00 Variable2 November 2046 M‑4 25,082,000.00 Variable2 November 2046 M‑5 25,082,000.00 Variable2 November 2046 M‑6 22,041,000.00 Variable2 November 2046 M‑7 15,961,000.00 Variable2 November 2046 M‑8 15,961,000.00 Variable2 November 2046 M‑9 10,641,000.00 Variable2 November 2046 M-10 10,641,000.00 Variable2 November 2046 B 15,201,000.00 Variable2 November 2046 Swap IO N/A Variable5 November 2046 FM Reserve IO N/A Variable5 November 2046 Class C Interest3 33,434,084.10 Variable2 November 2046 Class P Interest $100.00 N/A4 November 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Tier Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC2 Regular Interests. The Lower-Tier REMIC shall hold as assets all property Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the Trust Fund other than the assets held in the Basis Risk Reserve Fundinterest paid on REMIC 2 Regular Interests Swap IO and FMR IO, the Yield Maintenance Account, the Yield Maintenance Agreements, and the respectively. These interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall will not be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestcertificated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-9)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "CERTIFICATES"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen ten classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1A-A-1B CertificatesR Certificate, (iii) the Class 2LTA-A-1A CertificatesR Certificate, (iv) the Class 2-A-1B B-1 Certificates, (v) the Class 2-A-1C B-2 Certificates, (vi) the Class X-1 B-3 Certificates, (vii) the Class X-2 B-4 Certificates, (viii) the Class PO-1 Certificates, B-5 Certificates and (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive will consist of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativeREMICs, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Lower Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Upper Tier REMIC. The Lower-Tier REMIC shall "LOWER TIER REMIC" will hold as its assets all property of the assets constituting the Trust Fund other than and will issue the assets held "LOWER TIER REMIC REGULAR INTERESTS" (which will be uncertificated and will represent the "regular interests" in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Lower Tier REMIC) and the interests Class LTA-R Certificate, which will be the single "residual interest" in the Lower-Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC formed herebyRegular Interests. The On each Distribution Date, following the allocation of Realized Losses and payments of principal, each Lower Tier REMIC Interest will have a principal balance equal to that of its Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestCorresponding Class.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Mort Loan Pas THR Certs Ser 01 2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 II-A-5 Certificates, (vii) the Class X-2 II-A-6 Certificates, (viii) the Class PO-1 M-1 Certificates, (ix) the Class PO-2 M-2 Certificates, (x) the Class A-R M-3 Certificates, (xi), ) the Class A-R-II M-4 Certificates, (xii) the Class P M-5 Certificates, (xiii) the Class B-1 M-6 Certificates, (xiv) the Class B-2 M-7 Certificates, (xv) the Class B-3 M-8 Certificates, (xvi) the Class B-4 M-9 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates and (xx) the Class R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Net WAC Rate Carryover Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreementsany Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate(2) Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) LTAA Variable $ 686,000,128.05 March 2037 LTIA1 Variable $ 3,883,520.00 March 2037 LTIIA1 Variable $ 694,760.00 March 2037 LTIIA2 Variable $ 233,830.00 March 2037 LTIIA3 Variable $ 332,630.00 March 2037 LTIIA4 Variable $ 168,350.00 March 2037 LTIIA5 Variable $ 178,910.00 March 2037 LTIIA6 Variable $ 143,000.00 March 2037 LTM1 Variable $ 329,000.00 March 2037 LTM2 Variable $ 185,500.00 March 2037 LTM3 Variable $ 108,500.00 March 2037 LTM4 Variable $ 101,500.00 March 2037 LTM5 Variable $ 91,000.00 March 2037 LTM6 Variable $ 84,000.00 March 2037 LTM7 Variable $ 77,000.00 March 2037 LTM8 Variable $ 56,000.00 March 2037 LTM9 Variable $ 70,000.00 March 2037 LTZZ Variable $ 7,262,502.61 March 2037 LTP Variable $ 100.00 March 2037 ___________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2III-A-1A A-1 Certificates, (iv) the Class 2III-A-1B A-2 Certificates, (v) the Class 2III-A-1C A-3 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 30,972,781.64 March 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 1,763,627.50 March 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 4,077,756.25 March 25, 2037 I-3-B Variable(2) $ 5,166,618.75 March 25, 2037 I-4-B Variable(2) $ 6,251,531.25 March 25, 2037 I-6-B Variable(2) $ 8,379,368.75 March 25, 2037 I-7-A Variable(2) $ 9,407,707.50 March 25, 2037 I-7-B Variable(2) $ 9,407,707.50 March 25, 2037 I-8-B Variable(2) $ 10,402,878.75 March 25, 2037 I-10-B Variable(2) $ 12,208,612.50 March 25, 2037 I-11-A Variable(2) $ 12,174,213.75 March 25, 2037 I-11-B Variable(2) $ 12,174,213.75 March 25, 2037 I-12-B Variable(2) $ 11,816,630.00 March 25, 2037 I-13-B Variable(2) $ 11,469,546.25 March 25, 2037 I-14-A Variable(2) $ 11,132,648.75 March 25, 2037 I-14-B Variable(2) $ 11,132,648.75 March 25, 2037 I-16-B Variable(2) $ 10,503,636.25 March 25, 2037 I-18-B Variable(2) $ 9,916,742.50 March 25, 2037 I-19-B Variable(2) $ 9,628,268.75 March 25, 2037 I-20-B Variable(2) $ 9,345,112.50 March 25, 2037 I-21-B Variable(2) $ 9,110,521.25 March 25, 2037 I-23-B Variable(2) $ 20,057,117.50 March 25, 2037 I-24-B Variable(2) $ 18,574,012.50 March 25, 2037 I-25-B Variable(2) $ 17,185,571.25 March 25, 2037 I-26-A Variable(2) $ 10,130,828.75 March 25, 2037 I-27-A Variable(2) $ 7,468,213.75 March 25, 2037 I-27-B Variable(2) $ 7,468,213.75 March 25, 2037 I-29-B Variable(2) $ 6,953,491.25 March 25, 2037 I-30-A Variable(2) $ 6,709,785.00 March 25, 2037 I-30-B Variable(2) $ 6,709,785.00 March 25, 2037 I-32-B Variable(2) $ 6,247,792.50 March 25, 2037 I-33-B Variable(2) $ 6,028,926.25 March 25, 2037 I-34-A Variable(2) $ 5,817,643.75 March 25, 2037 I-34-B Variable(2) $ 5,817,643.75 March 25, 2037 I-35-B Variable(2) $ 5,613,227.50 March 25, 2037 I-36-B Variable(2) $ 5,416,421.25 March 25, 2037 I-37-B Variable(2) $ 4,126,081.25 March 25, 2037 I-38-A Variable(2) $ 4,584,952.50 March 25, 2037 I-38-B Variable(2) $ 4,584,952.50 March 25, 2037 I-39-B Variable(2) $ 4,424,483.75 March 25, 2037 I-40-B Variable(2) $ 4,269,643.75 March 25, 2037 I-41-A Variable(2) $ 4,120,245.00 March 25, 2037 I-41-B Variable(2) $ 4,120,245.00 March 25, 2037 I-42-A Variable(2) $ 3,976,098.75 March 25, 2037 I-42-B Variable(2) $ 3,976,098.75 March 25, 2037 I-43-A Variable(2) $ 3,837,017.50 March 25, 2037 I-43-B Variable(2) $ 3,837,017.50 March 25, 2037 I-44-A Variable(2) $ 3,702,816.25 March 25, 2037 I-44-B Variable(2) $ 3,702,816.25 March 25, 2037 I-45-A Variable(2) $ 3,573,330.00 March 25, 2037 I-45-B Variable(2) $ 3,573,330.00 March 25, 2037 I-47-A Variable(2) $ 3,327,831.25 March 25, 2037 I-47-B Variable(2) $ 3,327,831.25 March 25, 2037 I-48-A Variable(2) $ 3,211,510.00 March 25, 2037 I-48-B Variable(2) $ 3,211,510.00 March 25, 2037 I-49-A Variable(2) $ 3,099,268.75 March 25, 2037 I-49-B Variable(2) $ 3,099,268.75 March 25, 2037 I-50-A Variable(2) $ 2,990,968.75 March 25, 2037 I-50-B Variable(2) $ 2,990,968.75 March 25, 2037 I-51-B Variable(2) $ 2,886,467.50 March 25, 2037 I-52-A Variable(2) $ 2,785,677.50 March 25, 2037 I-52-B Variable(2) $ 2,785,677.50 March 25, 2037 I-53-B Variable(2) $ 2,688,380.00 March 25, 2037 I-54-B Variable(2) $ 2,594,495.00 March 25, 2037 I-55-A Variable(2) $ 2,503,937.50 March 25, 2037 I-55-B Variable(2) $ 2,503,937.50 March 25, 2037 I-56-B Variable(2) $ 2,416,542.50 March 25, 2037 I-57-A Variable(2) $ 2,332,235.00 March 25, 2037 I-57-B Variable(2) $ 2,332,235.00 March 25, 2037 I-58-A Variable(2) $ 2,254,488.75 March 25, 2037 I-58-B Variable(2) $ 2,254,488.75 March 25, 2037 I-60-B Variable(2) $ 2,100,285.00 March 25, 2037 I-61-A Variable(2) $ 2,026,921.25 March 25, 2037 I-61-B Variable(2) $ 2,026,921.25 March 25, 2037 I-62-A Variable(2) $ 1,956,132.50 March 25, 2037 I-62-B Variable(2) $ 1,956,132.50 March 25, 2037 I-63-B Variable(2) $ 1,887,825.00 March 25, 2037 I-64-B Variable(2) $ 1,821,783.75 March 25, 2037 I-65-B Variable(2) $ 1,758,126.25 March 25, 2037 I-66-A Variable(2) $ 1,696,772.50 March 25, 2037 I-66-B Variable(2) $ 1,696,772.50 March 25, 2037 I-67-B Variable(2) $ 1,637,571.25 March 25, 2037 I-68-A Variable(2) $ 45,673,872.50 March 25, 2037 I-68-B Variable(2) $ 45,673,872.50 March 25, 2037 ___________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B M-1 Certificates, (iii) the Class 2-A-1A M-2 Certificates, (iv) the Class 2-A-1B M-3 Certificates, (v) the Class 2-A-1C M-4 Certificates, (vi) the Class X-1 M-5 Certificates, (vii) the Class X-2 M-6 Certificates, (viii) the Class PO-1 M-7 Certificates, (ix) the Class PO-2 M-8 Certificates, (x) the Class A-R B-1 Certificates, (xi), ) the Class A-R-II B-2 Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 X-1 Certificates, (xiv) the Class B-2 X-2 Certificates, (xv) the Class B-3 X-S Certificates, (xvi) the Class B-4 Certificates, A-R Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 A-RL Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Interest Rate Cap Agreement, the Basis Risk Swap Agreement, the Reserve Fund and Account, the Yield Maintenance Pre-Funding Account, the Capitalized Interest Account and the Yield Maintenance AgreementsSubsequent Mortgage Loan Interest) be treated as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any “REMIC created hereunder. 1.” The Class A-R Certificate represents RL Certificates will represent the sole class of “residual interest interests” in REMIC 1 for purposes of the UpperREMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC Through Rate and the Class A-R-II Certificate represents initial Uncertificated Principal Balance for each of the sole class “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). None of residual interest in the Lower-Tier REMICREMIC 1 Regular Interests will be certificated. The Lower-Tier REMIC shall hold as assets all property latest possible maturity date (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each of the Trust Fund other than REMIC 1 Regular Interests will be the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerLatest Possible Maturity Date as defined herein. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance LTI-1 Variable(1) $ 383,440,279.28 LTI-Tier REMIC Interests, other than the Class LTPF Variable(1) $ 26,559,720.72 LTI-S1 Variable(1) (2) LTI-S2 Variable(1) (2) LTI-P Variable(1) $ 100.00 LTI-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Variable(1) $ 100.00 ___________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Home Equity Mortgage Trust 2005-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A1 Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C M‑1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M‑4 Certificates, (ix) the Class PO-2 M‑5 Certificates, (x) the Class A-R M‑6 Certificates, (xi), ) the Class A-R-II M‑7 Certificates, (xii) the Class P M‑8 Certificates, (xiii) the Class B-1 M‑9 Certificates, (xiv) the Class B-2 B‑1 Certificates, (xv) the Class B-3 B-2 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 Certificates and R Certificates, (xix) the Class B-7 R‑CX Certificates and (xx) the Class R‑PX Certificates. REMIC 1 As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund and the Master Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 LT1-AA $1,715,001,372.25 Variable2 February, 2035 LT1-IA1 $9,562,375.00 Variable2 February, 2035 LT1-IIA1 $2,640,000.00 Variable2 February, 2035 LT1-IIA2 $1,075,000.00 Variable2 February, 2035 LT1-IIA3 $757,630.00 Variable2 February, 2035 LT1-M1 $796,250.00 Variable2 February, 2035 LT1-M2 $498,750.00 Variable2 February, 2035 LT1-M3 $306,250.00 Variable2 February, 2035 LT1-M4 $306,250.00 Variable2 February, 2035 LT1-M5 $218,750.00 Variable2 February, 2035 LT1-M6 $210,000.00 Variable2 February, 2035 LT1-M7 $175,000.00 Variable2 February, 2035 LT1-M8 $175,000.00 Variable2 February, 2035 LT1-M9 $175,000.00 Variable2 February, 2035 LT1-B1 $175,000.00 Variable2 February, 2035 LT1-B2 $122,500.00 Variable2 February, 2035 LT1-ZZ $17,806,273.01 Variable2 February, 2035 LT1-1SUB $47,215.75 Variable2 February, 2035 LT1-1GRP $238,463.25 Variable2 February, 2035 LT1-2SUB $22,084.45 Variable2 February, 2035 LT1-2GRP $111,537.05 Variable2 February, 2035 LT1-XX $1,749,582,199.78 Variable2 February, 2035 LT1-P $100.00 Variable2 February, 2035 ________________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund (exclusive segregated pool of assets consisting of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated REMIC 1 Regular Interests as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class such segregated pool of assets will be designated as “REMIC 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. .” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑2 Interest represents the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass‑Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 2 and each class of uncertificated “regular interests” in REMIC 2: Class Designation Original Class Certificate Principal Balance Pass‑Through Rate Assumed Final Maturity Date1 I-A1 $1,912,475,000.00 Variable2 February, 2035 II-A1 $528,000,000.00 Variable2 February, 2035 II-A2 $215,000,000.00 Variable2 February, 2035 II-A3 $151,526,000.00 Variable2 February, 2035 M‑1 $159,250,000.00 Variable2 February, 2035 M-2 $99,750,000.00 Variable2 February, 2035 M-3 $61,250,000.00 Variable2 February, 2035 M-4 $61,250,000.00 Variable2 February, 2035 M-5 $43,750,000.00 Variable2 February, 2035 M-6 $42,000,000.00 Variable2 February, 2035 M-7 $35,000,000.00 Variable2 February, 2035 M-8 $35,000,000.00 Variable2 February, 2035 M-9 $35,000,000.00 Variable2 February, 2035 B-1 $35,000,000.00 Variable2 February, 2035 B-2 $24,500,000.00 Variable2 February, 2035 Class C Interest3 $61,251,900.56 Variable2 February, 2035 Class P Interest $100.00 N/A4 February, 2035 ___________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Upper-Tier month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC and 2. 2 Calculated in accordance with the definition of “Pass‑Through Rate” herein. 3 The Class A-R-II Certificate represents C Interest will accrue interest at its variable Pass‑Through Rate on its Notional Amount outstanding from time to time, which shall equal the sole class aggregate of residual interest in the Lower-Tier REMICUncertificated Principal Balances of the REMIC 1 Regular Interests. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed herebyClass C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier P Interest is hereby designated as a REMIC regular will not accrue interest.
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 7 Mortgage Loan Pass-Through Certificates, Series 2005-5 7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 2-A-1A A1 Certificates, (iv) the Class 2-A-1B A2A Certificates, (v) the Class 2-A-1C A2B Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 1-PO Certificates, (ix) the Class PO-2 2-PO Certificates, (x) the Class A-R Certificates, (xi)) the Class 1-B1 Certificates, (xii) the Class 1-B2 Certificates, (xiii) the Class 1-B3 Certificates, (xiv) the Class 1-B4 Certificates, (xv) the Class 1-B5 Certificates, (xvi) the Class 1-B6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates, Certificates and (xiixxiv) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Group 1 and Group 2 Basis Risk Reserve Fund Funds and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-RAR-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 COFI and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Group 1 and Group 2 Basis Risk Reserve Fund Funds as provided in Section 5.07 and (ii) the Class 12-A-1A, Class 1-A-1BA1, Class 2-A-1A, Class 2-A-1BA2A, and Class 2-A-1C A2B Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 1-X Certificates beneficially own the Group 1 Basis Risk Reserve Fund and the owners of the Class 2-X Certificates beneficially own the Group 2 Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC and the Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT1-A1 (1) $ 104,576,050.00 Class 1-A1 & A-R LT1-A2 (1) $ 26,144,500.00 Class 1-A2 LT1B-6 (1) $ 643,116.06 Class 1-B-6 LT1Q (1) $ 136,925,537.41 N/A LT1Z (1) $ 2,852,614.32 N/A LT1Y (1) $ 2,852,614.32 N/A LT2-A1 (2) $ 138,132,500.00 Class 2-A1 LT2-A2A (2) $ 61,214,500.00 Class 2-A1A LT2-A2B (2) $ 30,874,500.00 Class 2-A1B LT2B-1 (2) $ 6,012,500.00 Class 2-B-1 LT2B-2 (2) $ 4,759,500.00 Class 2-B-2 LT2B-3 (2) $ 3,507,000.00 Class 2-B-3 LT2B-4 (2) $ 3,131,000.00 Class 2-B-4 LT2B-5 (2) $ 1,628,000.00 Class 2-B-5 LT2B-6 (2) $ 1,253,785.56 Class 2-B-6 LT2Q (2) $ 240,492,852.13 N/A LT2Z (2) $ 5,010,266.71 N/A LT2Y (2) $ 5,010,266.71 N/A LT-R (2) (2) Class A-R-II __________________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates (vii) the Class M-2 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 Certificates and L Certificates, (xix) the Class B-7 R Certificates and (xx) the Class R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Swap Account, any Servicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust, the Cap Trust, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, the Interest Rate Swap Agreement and the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsCap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 19,384,106.76 July 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 6,557,468.75 July 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 7,253,362.50 July 25, 2037 I-3-B Variable(2) $ 7,904,693.75 July 25, 2037 I-5-B Variable(2) $ 8,722,982.50 July 25, 2037 I-6-B Variable(2) $ 8,403,283.75 July 25, 2037 I-7-B Variable(2) $ 8,095,431.25 July 25, 2037 I-8-A Variable(2) $ 7,798,982.50 July 25, 2037 I-8-B Variable(2) $ 7,798,982.50 July 25, 2037 I-9-B Variable(2) $ 7,513,512.50 July 25, 2037 I-10-B Variable(2) $ 7,238,608.75 July 25, 2037 I-11-B Variable(2) $ 6,973,878.75 July 25, 2037 I-12-B Variable(2) $ 6,723,572.50 July 25, 2037 I-13-B Variable(2) $ 6,585,537.50 July 25, 2037 I-14-B Variable(2) $ 7,155,693.75 July 25, 2037 I-15-B Variable(2) $ 7,670,536.25 July 25, 2037 I-16-A Variable(2) $ 24,687,383.75 July 25, 2037 I-16-B Variable(2) $ 24,687,383.75 July 25, 2037 I-17-B Variable(2) $ 38,433,310.00 July 25, 2037 I-18-A Variable(2) $ 7,056,627.50 July 25, 2037 I-18-B Variable(2) $ 7,056,627.50 July 25, 2037 I-19-A Variable(2) $ 6,307,856.25 July 25, 2037 I-19-B Variable(2) $ 6,307,856.25 July 25, 2037 I-20-B Variable(2) $ 4,860,090.00 July 25, 2037 I-21-B Variable(2) $ 2,923,642.50 July 25, 2037 I-22-B Variable(2) $ 2,806,013.75 July 25, 2037 I-23-B Variable(2) $ 2,692,933.75 July 25, 2037 I-24-B Variable(2) $ 2,597,712.50 July 25, 2037 I-25-A Variable(2) $ 2,480,571.25 July 25, 2037 I-25-B Variable(2) $ 2,480,571.25 July 25, 2037 I-26-A Variable(2) $ 2,423,417.50 July 25, 2037 I-26-B Variable(2) $ 2,423,417.50 July 25, 2037 I-27-A Variable(2) $ 2,350,566.25 July 25, 2037 I-27-B Variable(2) $ 2,350,566.25 July 25, 2037 I-28-A Variable(2) $ 2,508,573.75 July 25, 2037 I-28-B Variable(2) $ 2,508,573.75 July 25, 2037 I-29-A Variable(2) $ 2,684,417.50 July 25, 2037 I-29-B Variable(2) $ 2,684,417.50 July 25, 2037 I-30-B Variable(2) $ 1,978,863.75 July 25, 2037 I-31-B Variable(2) $ 1,901,186.25 July 25, 2037 I-32-B Variable(2) $ 1,826,721.25 July 25, 2037 I-33-A Variable(2) $ 1,755,327.50 July 25, 2037 I-33-B Variable(2) $ 1,755,327.50 July 25, 2037 I-34-A Variable(2) $ 1,686,877.50 July 25, 2037 I-34-B Variable(2) $ 1,686,877.50 July 25, 2037 I-35-B Variable(2) $ 1,621,236.25 July 25, 2037 I-36-B Variable(2) $ 1,558,266.25 July 25, 2037 I-38-B Variable(2) $ 1,440,020.00 July 25, 2037 I-39-B Variable(2) $ 1,384,495.00 July 25, 2037 I-40-B Variable(2) $ 1,331,230.00 July 25, 2037 I-41-B Variable(2) $ 1,280,130.00 July 25, 2037 I-42-A Variable(2) $ 1,231,102.50 July 25, 2037 I-42-B Variable(2) $ 1,231,102.50 July 25, 2037 I-43-A Variable(2) $ 1,184,062.50 July 25, 2037 I-43-B Variable(2) $ 1,184,062.50 July 25, 2037 I-44-A Variable(2) $ 1,138,925.00 July 25, 2037 I-44-B Variable(2) $ 1,138,925.00 July 25, 2037 I-45-A Variable(2) $ 1,095,606.25 July 25, 2037 I-45-B Variable(2) $ 1,095,606.25 July 25, 2037 I-47-A Variable(2) $ 1,014,128.75 July 25, 2037 I-47-B Variable(2) $ 1,014,128.75 July 25, 2037 I-48-A Variable(2) $ 975,823.75 July 25, 2037 I-48-B Variable(2) $ 975,823.75 July 25, 2037 I-49-A Variable(2) $ 939,051.25 July 25, 2037 I-49-B Variable(2) $ 939,051.25 July 25, 2037 I-50-A Variable(2) $ 903,898.75 July 25, 2037 I-50-B Variable(2) $ 903,898.75 July 25, 2037 I-51-A Variable(2) $ 869,992.50 July 25, 2037 I-51-B Variable(2) $ 869,992.50 July 25, 2037 I-52-A Variable(2) $ 984,020.00 July 25, 2037 I-52-B Variable(2) $ 984,020.00 July 25, 2037 I-53-B Variable(2) $ 1,169,007.50 July 25, 2037 I-54-B Variable(2) $ 752,202.50 July 25, 2037 I-55-A Variable(2) $ 724,487.50 July 25, 2037 I-55-B Variable(2) $ 724,487.50 July 25, 2037 I-56-A Variable(2) $ 697,857.50 July 25, 2037 I-56-B Variable(2) $ 697,857.50 July 25, 2037 I-57-A Variable(2) $ 672,265.00 July 25, 2037 I-57-B Variable(2) $ 672,265.00 July 25, 2037 I-58-A Variable(2) $ 647,668.75 July 25, 2037 I-58-B Variable(2) $ 647,668.75 July 25, 2037 I-59-B Variable(2) $ 624,021.25 July 25, 2037 I-60-A Variable(2) $ 601,275.00 July 25, 2037 I-60-B Variable(2) $ 601,275.00 July 25, 2037 I-61-B Variable(2) $ 579,431.25 July 25, 2037 I-62-A Variable(2) $ 558,430.00 July 25, 2037 I-62-B Variable(2) $ 558,430.00 July 25, 2037 I-63-A Variable(2) $ 538,236.25 July 25, 2037 I-63-B Variable(2) $ 538,236.25 July 25, 2037 I-64-A Variable(2) $ 518,817.50 July 25, 2037 I-64-B Variable(2) $ 518,817.50 July 25, 2037 I-65-B Variable(2) $ 500,143.75 July 25, 2037 I-66-A Variable(2) $ 14,206,067.50 July 25, 2037 I-66-B Variable(2) $ 14,206,067.50 July 25, 2037 P Variable(2) $ 100.00 July 25, 2037 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052006-5 CB1 Mortgage Loan Pass-Through Certificates, Series 20052006-5 CB1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 21-A-1A CertificatesA1C, (iv) the Class 2-A-1B A1A Certificates, (v) the Class 2-A-1C A1B Certificates, (vi) the Class X-1 2-A1C Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 2-PO Certificates, (ix) the Class PO-2 2-A-R Certificates, (x) the Class A2-R B1 Certificates, (xi), ) the Class A2-R-II B2 Certificates, (xii) the Class P 2-B3 Certificates, (xiii) the Class B-1 2-B4 Certificates, (xiv) the Class B-2 2-B5 Certificates, (xv) the Class B-3 Certificates, and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 2-B6 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and (the Yield Maintenance Account and the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two four real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” the “Group 2 REMIC,” and the “Upper-Tier Group 1 REMIC”). Each CertificateCertificate having a “1” in its class designation shall represent ownership of a regular interest in the Group 1 REMIC, as described herein. Each Certificate having a “2” in its class designation, other than the Class 2-A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier Group 2 REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04this Agreement. The owners of the Class X-1 and Class X-2 2-X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance AccountFund. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class 2-A-R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class each of residual interest in the Lower-Tier REMIC, the Middle-Tier REMIC, the Group 2 REMIC, and the Group 1 REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund related to Loan Group 2, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed herebyInterests and the Middle-Tier REMIC Interests. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Group 2 REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The Group 1 REMIC shall hold as assets all of the property of the Trust Fund related to Loan Group 1. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related Subgroup LT-SUB-2A (1) $ 64,846,055.77 Subgroup 2A LT-SC-2A (1) $ 63,282.38 Subgroup 2A LT-SUB-2B (2) $ 59,806,254.47 Subgroup 2B LT-SC-2B (2) $ 58,366.21 Subgroup 2B LT-SUB-2C (3) $ 238,156,270.72 Subgroup 0X XX-XX-0X (3) $ 232,437.08 Subgroup 2C LT-R (4) (4) N/A
Appears in 1 contract
Samples: Pooling Agreement (Harborview Mortgage Loan Trust 2006-Cb1)
PRELIMINARY STATEMENT. Through this AgreementThe Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund (exclusive of the Pre-Funding Account, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustNet WAC Cap Account, the primary assets Reserve Fund and the Yield Maintenance Agreement) for federal income tax purposes will consist of which are the Mortgage Loans three REMICs (as defined below"REMIC 1," "REMIC 2," and "REMIC 3"). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence represent the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist assets of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in Pre-Funding Account, the Basis Risk Net WAC Cap Account, the Reserve Fund and the Yield Maintenance Account Agreement) will constitute the assets of REMIC 1 and REMIC 1 will issue seven uncertificated regular interest that will be held as the Yield Maintenance Agreements) sole assets of REMIC 2. REMIC 2 will issue twenty-two uncertificated regular interests that will be treated for federal income tax purposes held as comprising two real estate mortgage investment conduits the sole assets of REMIC 3. The Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5, Class AF-6, Class AV-1A, Class AV-1B and Class AV-2 Certificates (eachwith respect to the Class AF-1, a “REMIC” orClass AV-1A, Class AV-1B and Class AV-2 Certificates, exclusive of any associated rights to receive payments in the alternativeform of Net WAC Cap Carryover), the “Lower-Tier REMIC” Class M-1, Class M-2, Class M-3 and the “Upper-Tier REMIC”). Each CertificateClass M-4 Certificates, other than the Class A-R Certificate B-1, Class B-2, Class B-3 and Class B-4 Certificates (with respect to the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, exclusive of any associated rights to receive payments in the form of Net WAC Cap Carryover) and the Class A-R-II Certificate, shall X Certificates will represent ownership of a the "regular interest interests" in the Upper-Tier REMIC, as described hereinREMIC 3. In addition, (i) the The Class 1-A-1AM-1, Class 1-A-1BM-2, Class 2-A-1AM-3, Class 2-A-1B, Class 2-A-1CM-4, Class B-1, Class B-2, Class B-3B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class AF-1, Class B-4AF-2, Class B-5AF-3, Class B-6 AF-4, Class AF-5, Class AF-6, Class AV-1A, Class AV-1B and Class B-7 AV-2 Certificates. The Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates represent the right are subordinate to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) provide credit enhancement for the Class 1-A-1AM-1 Certificates. The Class M-3, Class 1-A-1BM-4, Class 2-A-1AB-1, Class 2-A-1BB-2, Class B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class M-2 Certificates. The Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class M-3 Certificates. The Class B-1, Class B-2, Class B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class M-4 Certificates. The Class B-2, Class B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class B-1 Certificates. The Class B-3 and Class B-4 Certificates are subordinate to and provide credit enhancement for the Class B-2 Certificates. The Class B-4 Certificates are subordinate to and provide credit enhancement for the Class B-3 Certificates. The Class R-1, Class R-2, and Class R-3 Interests will be the residual interests in each of REMIC 1, REMIC 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and REMIC 3, respectively. All interests created hereby will be retired on or before the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestLatest Possible Maturity Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2005-1)
PRELIMINARY STATEMENT. On March 21, 2006 the Depositor formed Xxxxxxxxx Mortgage Securities Trust 2006-2, as a Delaware statutory trust (the “Trust”) pursuant to (i) the Trust Agreement, dated as of March 21, 2006 (the “Original Trust Agreement”), among the Depositor, the Trustee and the Delaware Trustee and (ii) a Certificate of Trust filed with the Secretary of State of the State of Delaware on March 21, 2006. The parties to this Agreement desire to amend and restate the Original Trust Agreement in its entirety, and, as evidenced by their signatures hereto, the Original Trust Agreement is hereby amended, restated and replaced in its entirety as of the date first written above by this Agreement. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from the Seller. On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust and receive in consideration therefor Certificates evidencing the entire beneficial ownership of the Trust. The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1A-1-A-1A A Certificates, (ii) the Class 1A-1-A-1B B Certificates, (iii) the Class 2A-1-A-1A C Certificates, (iv) the Class 2A-2-A-1B A Certificates, (v) the Class 2A-2-A-1C B Certificates, (vi) the Class X-1 A-2-C Certificates, (vii) the Class X-2 A-X-1 Certificates, (viii) the Class PO-1 A-X-2 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), x) the Class A-R-II B-1 Certificates, (xi) the Class B-2 Certificates, (xii) the Class P B-3 Certificates, (xiii) the Class B-1 B-4 Certificates, (xiv) the Class B-2 B-5 Certificates, (xv) the Class B-3 Certificates, B-6 and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 I Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and Additional Collateral, the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” orthe Auction Swap Agreement, in the alternativeYield Maintenance Account, the Final Maturity Reserve Trust and the Final Maturity Reserve Account, collectively, the “Lower-Tier REMIC” Excluded Trust Assets”) is comprised of three REMICs in a tiered REMIC structure – REMIC 1 , REMIC 2 , and the “Upper-Tier upper tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1A-1-A-1AA, Class 1A-1-A-1BB, Class 2A-1-A-1AC, Class 2A-2-A-1BA, Class 2A-2-A-1CB, Class B-1A-2-C, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 A-X-1 and Class B-7 A-X-2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.09. Each Class of Certificates (other than the Class A-X-1 and Class A-X-2 Certificates) also represents the right to receive payments in respect of the Final Maturity Reserve Account. The owners of the Class X-1 and Class X-2 I Certificates beneficially own the Basis Risk Final Maturity Reserve Fund Account and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderFinal Maturity Reserve Trust. The Class A-R Certificate represents ownership of the sole class of residual interest in each REMIC. REMIC 1 will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Assets) and will issue interests (the “Lower Tier Regular Interests,” which will be uncertificated and will represent the regular interests in REMIC 1) and a residual interest (the “LT1-R Interest”), which will represent the sole class of residual interest in REMIC 1. REMIC 2 will hold as its assets the Lower Tier Regular Interests in REMIC 1 and will issue interests (also, the “Lower Tier Regular Interests, which will be uncertificated and will represent the regular interests in REMIC 2) and a residual interest (the “LT2-R Interest”), which will represent the sole class of residual interest in REMIC 2. The Trustee will hold the Lower Tier Regular Interests in REMIC 2 as assets of the Upper Tier REMIC. The Certificates, other than the Class A-R Certificate, will represent regular interests in the Upper Tier REMIC, and the Class A-R Certificate will represent the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets well as ownership of the uncertificated Lower-Tier REMIC Interests, other than the Class LTLT1-R Interestand LT2-R Interests. For purposes of the REMIC Provisions, ownership of which shall be evidenced by the Class A-R-II Certificatestartup day is the Closing Date. Each such Lower-Tier Interest is hereby designated as a All REMIC regular interest.and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. REMIC 1 The following table specifies the designation, interest rate, and initial principal amount for each interest in REMIC 1: Designation Interest Rate Initial Principal Balance Related Loan Group LT1-Loan Group 1 (1) $ 297,632,542.53 Loan Group 1 LT1-GSA1 (1) $ 104,206.49 Loan Group 1 LT1-Loan Group 2 (1) $ 649,558,572.17 Loan Group 2 LT1-GSA2 (1) $ 227,430.02 Loan Group 2 LT1-IO-1 (2) (3) Loan Group 1 LT1-IO-2 (4) (5) Loan Group 2 LT1-R (6) (6) N/A __________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Interest Rate Swap Agreement to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage asset-backed certificates designated as Nomura Home Equity Loan, Inc., Home Equity Loan Trust 2005-5 Mortgage Loan Pass-Through CertificatesTrust, Series 20052006-5 HE2, Asset-Backed Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen (18) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-HE2, designated dated as of April 1, 2006 (i) the Class 1-A-1A Certificates“Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, N.A. as master servicer and securities administrator (ii) “Xxxxx Fargo”), Ocwen Loan Servicing, LLC as servicer (the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Servicer”), the Class A-R-II CertificatesSeller as seller and HSBC Bank USA, National Association as trustee (xii) the “Trustee”). The Purchaser will sell the Class P CertificatesA-1, (xiii) the Class A-2, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class B-1 Certificates, (xiv) the and Class B-2 CertificatesCertificates to Nomura Securities International, Inc. (xv) the Class B-3 Certificates“Underwriter”), pursuant to the Underwriting Agreement, dated as of January 1, 2006, between the Purchaser and the Underwriter, and the Terms Agreement, dated April [__], 2006 (xvi) collectively, the Class B-4 Certificates“Underwriting Agreement”), between the Purchaser and the Underwriter. Capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement. Pursuant to the custodial agreement, dated as of April 1, 2006 (xvii) the Class B-5 Certificates“Custodial Agreement”), among the Trustee, the Servicer and Xxxxx Fargo Bank, N.A. as the custodian (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein“Custodian”), the Trustee shall elect that desires to have the Trust Fund (exclusive Custodian take possession of the assets held Mortgages and Mortgage Notes, along with certain other documents specified in the Basis Risk Reserve Fund and Custodial Agreement, as the Yield Maintenance Account and custodian of the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” orTrustee, in accordance with the alternative, the “Lower-Tier REMIC” terms and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04conditions thereof. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 16 Mortgage Loan Pass-Through Certificates, Series 2005-5 16 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirty-four classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A Certificates, (iv) the Class 2-A-1B A1B Certificates, (v) the Class 2-A-1C A1C Certificates, (vi) the Class X-1 3-A1A Certificates, (vii) the Class X-2 3-A1B Certificates, (viii) the Class PO-1 3-A1C Certificates, (ix) the Class 4-A1A Certificates, (x) the Class 4-A1B Certificates, (xi) the Class X-1 Certificates, (xii) the Class X-2 Certificates, (xiii) the Class X-3 Certificates, (xiv) the Class X-4 Certificates, (xv) the Class X-B Certificates, (xvi) the Class PO-1 Certificates, (xvii) the Class PO-2 Certificates, (xxviii) the Class PO-3 Certificates, (xix) the Class PO-4 Certificates, (xx) the Class PO-B Certificates, (xxi) the Class A-R Certificates, (xi), xxii) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiiixxiii) the Class B-1 Certificates, (xivxxiv) the Class B-2 Certificates, (xvxxv) the Class B-3 Certificates, (xvixxvi) the Class B-4 Certificates, (xviixxvii) the Class B-5 Certificates, (xviiixxviii) the Class B-6 Certificates and Certificates, (xixxxix) the Class B-7 Certificates, (xxx) the Class B-8 Certificates, (xxxi) the Class B-9 Certificates, (xxxii) the Class B-10 Certificates, (xxxiii) the Class B-11 Certificates and (xxxiv) the Class B-12 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Basis Risk Reserve Fund and Fund, the Group 3 Prepayment Account, the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two four real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Pooling REMIC,” the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 MTA and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (ii) the Class 1-A-1AA1A, Class 1-A-1BA1B, Class 2-A-1AA1A, Class 2-A-1BA1B, and Class 2-A-1C A1C, Class 3-A1A, Class 3-A1B and Class 3-A1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.044.04 and (iii) the Class X-3 Certificates represent the right to receive payments in respect of Class X-3 Amortization Shortfalls from the Group 3 Prepayment Account as provided in Section 5.09. The owners of the Class X-1 X-1, Class X-2, Class X-3, Class X-4 and Class X-2 X-B Certificates beneficially own the Basis Risk Reserve Fund Fund, the owners of the Class X-1, Class X-2, Class X-3, Class X-4 and Class X-B Certificates beneficially own the Yield Maintenance Account and the owners of the Class X-3 Certificates beneficially own the Group 3 Prepayment Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R R-II Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC Pooling REMIC, and the Class A-R-II Certificate represents R Certificates represent ownership of the sole class of residual interest in the Lower-Tier, the Middle-Tier REMICand the Upper-Tier REMICs. The Pooling REMIC shall hold as assets all property of the Trust Fund, other than the Excluded Trust Property and the Pooling REMIC Interests, the Lower-Tier REMIC Interests and the Middle-Tier REMIC Interests. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund uncertificated Pooling REMIC Interests, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerPT-Tier REMIC formed herebyR Interest. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Samples: Pooling Agreement (HarborView Mortgage Loan Trust 2005-16)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Contracts to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView mortgage pass-through certificates designated as Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-AR2, Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-three (23) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-AR2, designated dated as of March 1, 2006 (i) the Class 1-A-1A Certificates“Pooling and Servicing Agreement”), among the Purchaser as depositor, Wxxxx Fargo Bank, N.A. as master servicer and securities administrator (ii) “Wxxxx Fargo”), GMAC Mortgage Corporation as servicer (the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Servicer”), the Class A-R-II CertificatesSeller as sponsor and HSBC Bank USA, National Association as trustee (xii) the “Trustee”). The Purchaser will sell the Class P CertificatesI-A, Class II-A-1, Class II-A-2, Class II-A-3, Class II-X, Class III-A-1, Class III-A-2, Class C-B-1, Class C-B-2, Class C-B-3, Class III-M-1, Class III-M-2, Class III-M-3, Class III-M-4 and Class III-M-5 Certificates to Nomura Securities International, Inc. (xiii) the Class B-1 Certificates“Underwriter”), pursuant to the Amended and Restated Underwriting Agreement, dated as of February 26, 2004, as amended and restated to and including January 1, 2006, between the Purchaser and the Underwriter, and the Terms Agreement, dated March 29, 2006 (xiv) collectively, the Class B-2 Certificates“Underwriting Agreement”), between the Purchaser and the Underwriter. Capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement. Pursuant to the custodial agreement, dated as of March 1, 2006 (xv) the Class B-3 Certificates“Custodial Agreement”), among the Trustee, the Servicer and Wxxxx Fargo as the custodian (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein“Custodian”), the Trustee shall elect that desires to have the Trust Fund (exclusive Custodian take possession of the assets held Mortgages and Mortgage Notes, along with certain other documents specified in the Basis Risk Reserve Fund and Custodial Agreement, as the Yield Maintenance Account and custodian of the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” orTrustee, in accordance with the alternative, the “Lower-Tier REMIC” terms and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04conditions thereof. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
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PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 AR2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B1 Certificates, (v) the Class 2-A-1C Certificates2A-1B2, (vi) the Class X-1 Certificates2A-1B3, (vii) the Class X-2 Certificates2A-1C, (viii) the Class PO-1 M-1 Certificates, (ix) the Class PO-2 M-2 Certificates, (x) the Class A-R M-3 Certificates, (xi), ) the Class A-R-II M-4 Certificates, (xii) the Class P M-5 Certificates, (xiii) the Class B-1 M-6 Certificates, (xiv) the Class B-2 M-7 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 Certificates, P Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the Prefunding Account, the assets held in the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a tiered REMIC structure: the “Pooling REMIC,” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account and (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Pooling REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Pooling REMIC Regular Interests”) (which will be uncertificated and will represent the regular interests in the Pooling REMIC) and a residual interest (the “Class APT-RR Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Pooling REMIC. The Trustee will hold the Pooling REMIC Regular Interests as assets of the Lower-II Certificate represents Tier REMIC. The Lower-Tier REMIC will hold as its assets the Pooling REMIC Regular Interests and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall Trustee will hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold Regular Interests as assets of the uncertificated LowerUpper-Tier REMIC. For purposes of the REMIC InterestsProvisions, other than the Class LTstartup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Pooling REMIC Interests Designation Interest Rate Initial Principal Balance Related group PT-1 (1) $ 434,287,068.08 Group 1 PT-1-PF (2) $ 91,827,627.00 Group 1 PT-1-X (3) (3) Group 1 PT-2 (1) $ 580,236,361.30 Group 2 PT-2-PF (2) $ 103,648,944.00 Group 2 PT-2-X (3) (3) Group 2 PT-R Interest, ownership of which shall be evidenced by the Class (4) (4) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
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PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "Certificates"), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes fourteen Classes of certificatesCertificates, designated as (i) the Class 1-A-1A A1, Class 2-A1, Class 3-F1 and Class A-IO Certificates, (ii) the Class 1-A-1B M-1, Class M-2V and Class M-2F Certificates, (iii) the Class 2-A-1A B-1, Class B-2 and Class B-3 Certificates, (iv) the Class 2-A-1B N Certificates, (v) the Class 2-A-1C Certificates, X Certificates and (vi) the Class X-1 R-1 and Class R-2 Certificates. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders its interests and rights in the Mortgage Loans (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xiexclusive of any Arrearage in respect of Delinquent Mortgage Loans), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive will make multiple elections to treat segregated pools of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated subject to this Agreement for federal income tax purposes as comprising two the following six separate real estate mortgage investment conduits (each, a “"REMIC” or, in "): the alternativeSubsidiary REMIC, the “Lower-Tier Intermediate REMIC” and , the “Upper-Tier Master REMIC”). Each Certificate, other than the Class A-R Certificate B-2 REMIC, the Class B-3 REMIC, and the Class AX-R-II CertificateN REMIC. The Subsidiary REMIC will consist of (a) all of the assets constituting the Group 1 Mortgage Loans, shall (b) all of the assets constituting the Group 2 Mortgage Loans, and (c) all of the assets constituting the Group 3 Mortgage Loans. The Subsidiary REMIC will issue (1) uncertificated REMIC regular interests designated with an "1A" or "1B" and payable from the monies received from the Group 1 Mortgage Loans (the "Subsidiary 1 Regular Interests"), (2) uncertificated REMIC regular interests designated with an "2A" or "2B" and payable from the monies received from the Group 2 Mortgage Loans (the "Subsidiary 2 Regular Interests"), and (3) uncertificated REMIC regular interests designated with an "3A" or "3B" and payable from the monies received from the Group 3 Mortgage Loans (the "Subsidiary 3 Regular Interests" and, together with the Subsidiary 1 Regular Interests and the Subsidiary 2 Regular Interests, the "Subsidiary REMIC Regular Interests"). The Subsidiary REMIC Regular Interests will be uncertificated and will represent ownership of a the "regular interest interests" in the Upper-Tier Subsidiary REMIC and the SR Interest will represent the single "residual interest" in the Subsidiary REMIC, as described herein. In addition, The Trustee will hold the Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Subsidiary REMIC Regular Interests and will be evidenced by (i) the Class 1-A-1AIntermediate REMIC Regular Interests, Class 1-A-1Bwhich will be uncertificated and will represent the "regular interests" in the Intermediate REMIC and (ii) the IR Interest, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, which will represent the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by (i) the Regular Certificates (other than the Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 X and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiN Certificates) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve FundB-2 Interest, the Yield Maintenance Account, the Yield Maintenance AgreementsClass B-3 Interest, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Class
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Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp C Bass Mort Ln as Bk Ce Se 02-Cb6)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2A-A-1B IO Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 B-1 Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 X-1 Certificates, (xvii) the Class B-5 X-2 Certificates, (xviii) the Class B-6 X-S Certificates and (xix) the Class B-7 A-R Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (eachPre-Funding Account, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Swap Account, the Yield Maintenance AgreementsCapitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the interests sole class of “residual interests” in REMIC 1 for purposes of the Lower-Tier REMIC formed herebyProvisions (as defined herein) under federal income tax law. The Upper Tier following table irrevocably sets forth the designation, the Uncertificated REMIC shall hold 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). None of the REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each of the REMIC 1 Regular Interests will be the Latest Possible Maturity Date as assets the uncertificated Lowerdefined herein. Designation Uncertificated REMIC 1 Pass-Tier REMIC Interests, other than the Class LTThrough Rate Initial Uncertificated Principal Balance LTI-1 Variable(1) $ 686,924,203.79 LTI-R Interest, ownership of which shall be evidenced by the Class APF Variable(1) $ 113,075,796.21 LTI-RS1 Variable(1) (2) LTI-II Certificate. Each such LowerS2 Variable(1) (2) LTI-Tier Interest is hereby designated as a REMIC regular interest.AR Variable(1) $ 100.00 LTI-P Variable(1) $ 100.00 ___________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2-A-1C X-1 Certificates, (vi) the Class X-1 X-2 Certificates, (vii) the Class X-2 Certificates, M-1 Certificates (viii) the Class PO-1 M-2 Certificates, (ix) the Class PO-2 M-3 Certificates, (x) the Class A-R M-4 Certificates, (xi), ) the Class A-R-II M-5 Certificates, (xii) the Class P M-6 Certificates, (xiii) the Class B-1 M-7 Certificates, (xiv) the Class B-2 M-8 Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Swap Account, any Servicer Prepayment Charge Payment Amounts, the Interest Coverage Account, the Supplemental Interest Trust, the Cap Trust, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, the Interest Rate Swap Agreement and the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsCap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 36,129,153.56 September 25, 2037 I-1-B Variable(2) $ 2,980,509.38 September 25, 2037 I-2-B Variable(2) $ 2,919,426.57 September 25, 2037 I-3-B Variable(2) $ 2,874,056.90 September 25, 2037 I-4-B Variable(2) $ 2,800,689.88 September 25, 2037 I-5-B Variable(2) $ 2,743,297.53 September 25, 2037 I-6-B Variable(2) $ 2,724,509.42 September 25, 2037 I-7-B Variable(2) $ 2,729,589.27 September 25, 2037 I-8-B Variable(2) $ 2,657,331.94 September 25, 2037 I-9-B Variable(2) $ 2,853,113.75 September 25, 2037 I-10-B Variable(2) $ 3,003,565.49 September 25, 2037 I-11-B Variable(2) $ 6,395,638.60 September 25, 2037 I-12-B Variable(2) $ 30,812,323.62 September 25, 2037 I-13-B Variable(2) $ 39,481,406.02 September 25, 2037 I-14-B Variable(2) $ 1,604,016.32 September 25, 2037 I-15-B Variable(2) $ 1,482,574.27 September 25, 2037 I-16-B Variable(2) $ 1,246,009.26 September 25, 2037 I-17-B Variable(2) $ 793,343.04 September 25, 2037 I-18-B Variable(2) $ 774,583.80 September 25, 2037 I-19-B Variable(2) $ 756,304.75 September 25, 2037 I-20-B Variable(2) $ 738,488.56 September 25, 2037 I-21-B Variable(2) $ 721,126.14 September 25, 2037 I-23-B Variable(2) $ 824,412.89 September 25, 2037 I-24-B Variable(2) $ 1,212,164.76 September 25, 2037 I-25-B Variable(2) $ 4,676,334.31 September 25, 2037 I-26-A Variable(2) $ 494,308.31 September 25, 2037 I-26-B Variable(2) $ 494,308.31 September 25, 2037 I-27-A Variable(2) $ 483,959.66 September 25, 2037 I-27-B Variable(2) $ 483,959.66 September 25, 2037 I-28-B Variable(2) $ 473,842.86 September 25, 2037 I-29-A Variable(2) $ 463,954.60 September 25, 2037 I-29-B Variable(2) $ 463,954.60 September 25, 2037 I-30-B Variable(2) $ 454,285.80 September 25, 2037 I-32-B Variable(2) $ 435,594.23 September 25, 2037 I-33-A Variable(2) $ 426,559.89 September 25, 2037 I-33-B Variable(2) $ 426,559.89 September 25, 2037 I-34-A Variable(2) $ 417,726.05 September 25, 2037 I-34-B Variable(2) $ 417,726.05 September 25, 2037 I-35-B Variable(2) $ 409,088.57 September 25, 2037 I-36-B Variable(2) $ 400,641.67 September 25, 2037 I-38-B Variable(2) $ 384,303.97 September 25, 2037 I-39-A Variable(2) $ 376,404.91 September 25, 2037 I-39-B Variable(2) $ 376,404.91 September 25, 2037 I-40-A Variable(2) $ 368,679.12 September 25, 2037 I-40-B Variable(2) $ 368,679.12 September 25, 2037 I-41-A Variable(2) $ 361,122.45 September 25, 2037 I-41-B Variable(2) $ 361,122.45 September 25, 2037 I-42-A Variable(2) $ 353,730.80 September 25, 2037 I-42-B Variable(2) $ 353,730.80 September 25, 2037 I-43-A Variable(2) $ 346,502.51 September 25, 2037 I-43-B Variable(2) $ 346,502.51 September 25, 2037 I-44-A Variable(2) $ 339,430.16 September 25, 2037 I-44-B Variable(2) $ 339,430.16 September 25, 2037 I-45-A Variable(2) $ 340,855.85 September 25, 2037 I-45-B Variable(2) $ 340,855.85 September 25, 2037 I-47-A Variable(2) $ 424,391.65 September 25, 2037 I-47-B Variable(2) $ 424,391.65 September 25, 2037 I-48-B Variable(2) $ 1,147,089.52 September 25, 2037 I-49-A Variable(2) $ 1,239,006.21 September 25, 2037 I-49-B Variable(2) $ 1,239,006.21 September 25, 2037 I-50-A Variable(2) $ 241,111.88 September 25, 2037 I-50-B Variable(2) $ 241,111.88 September 25, 2037 I-51-A Variable(2) $ 13,255,744.98 September 25, 2037 I-51-B Variable(2) $ 13,255,744.98 September 25, 2037 II Certificate. Each such LowerVariable(2) $ 18,608,514.63 September 25, 2037 II-1-Tier Interest is hereby designated as a REMIC regular interest.A Variable(2) $ 1,535,123.12 September 25, 2037 II-1-B Variable(2) $ 1,535,123.12 September 25, 2037 II-2-B Variable(2) $ 1,503,662.18 September 25, 2037 II-3-A Variable(2) $ 1,480,294.35 September 25, 2037 II-3-B Variable(2) $ 1,480,294.35 September 25, 2037 II-4-A Variable(2) $ 1,442,506.37 September 25, 2037 II-4-B Variable(2) $ 1,442,506.37 September 25, 2037 II-5-A Variable(2) $ 1,412,946.22 September 25, 2037 II-5-B Variable(2) $ 1,412,946.22 September 25, 2037 II-6-A Variable(2) $ 1,403,269.33 September 25, 2037 II-6-B Variable(2) $ 1,403,269.33 September 25, 2037 II-7-A Variable(2) $ 1,405,885.73 September 25, 2037 II-7-B Variable(2) $ 1,405,885.73 September 25, 2037 II-8-A Variable(2) $ 1,368,669.31 September 25, 2037 II-8-B Variable(2) $ 1,368,669.31 September 25, 2037 II-9-A Variable(2) $ 1,469,507.50 September 25, 2037 II-9-B Variable(2) $ 1,469,507.50 September 25, 2037 II-10-B Variable(2) $ 1,546,998.26 September 25, 2037 II-11-A Variable(2) $ 3,294,098.90 September 25, 2037 II-11-B Variable(2) $ 3,294,098.90 September 25, 2037 II-12-A Variable(2) $ 15,870,008.88 September 25, 2037 II-12-B Variable(2) $ 15,870,008.88 September 25, 2037 II-13-A Variable(2) $ 20,335,053.98 September 25, 2037 II-13-B Variable(2) $ 20,335,053.98 September 25, 2037 II-14-A Variable(2) $ 826,154.93 September 25, 2037 II-14-B Variable(2) $ 826,154.93 September 25, 2037 II-15-A Variable(2) $ 763,605.73 September 25, 2037 II-15-B Variable(2) $ 763,605.73 September 25, 2037 II-16-A Variable(2) $ 641,761.99 September 25, 2037 II-16-B Variable(2) $ 641,761.99 September 25, 2037 II-17-B Variable(2) $ 408,614.46 September 25, 2037 II-18-A Variable(2) $ 398,952.45 September 25, 2037 II-18-B Variable(2) $ 398,952.45 September 25, 2037 II-19-A Variable(2) $ 389,537.75 September 25, 2037 II-19-B Variable(2) $ 389,537.75 September 25, 2037 II-20-A Variable(2) $ 380,361.44 September 25, 2037 II-20-B Variable(2) $ 380,361.44 September 25, 2037 II-21-A Variable(2) $ 371,418.86 September 25, 2037 II-21-B Variable(2) $ 371,418.86 September 25, 2037 II-22-B Variable(2) $ 362,702.78 September 25, 2037 II-23-B Variable(2) $ 424,617.11 September 25, 2037 II-24-A Variable(2) $ 624,330.24 September 25, 2037 II-24-B Variable(2) $ 624,330.24 September 25, 2037 II-25-A Variable(2) $ 2,408,564.44 September 25, 2037 II-25-B Variable(2) $ 2,408,564.44 September 25, 2037 II-26-A Variable(2) $ 254,595.44 September 25, 2037 II-26-B Variable(2) $ 254,595.44 September 25, 2037 II-27-A Variable(2) $ 249,265.34 September 25, 2037 II-27-B Variable(2) $ 249,265.34 September 25, 2037 II-28-A Variable(2) $ 244,054.64 September 25, 2037 II-28-B Variable(2) $ 244,054.64 September 25, 2037 II-29-A Variable(2) $ 238,961.65 September 25, 2037 II-29-B Variable(2) $ 238,961.65 September 25, 2037 II-30-A Variable(2) $ 233,981.70 September 25, 2037 II-30-B Variable(2) $ 233,981.70 September 25, 2037 II-31-B Variable(2) $ 229,114.35 September 25, 2037 II-32-A Variable(2) $ 224,354.52 September 25, 2037 II-32-B Variable(2) $ 224,354.52 September 25, 2037 II-33-A Variable(2) $ 219,701.36 September 25, 2037 II-33-B Variable(2) $ 219,701.36 September 25, 2037 II-34-A Variable(2) $ 215,151.45 September 25, 2037 II-34-B Variable(2) $ 215,151.45 September 25, 2037 II-35-A Variable(2) $ 210,702.68 September 25, 2037 II-35-B Variable(2) $ 210,702.68 September 25, 2037 II-36-B Variable(2) $ 206,352.08 September 25, 2037 II-37-B Variable(2) $ 202,097.93 September 25, 2037 I-38-A Variable(2) $ 197,937.28 September 25, 2037 II-38-B Variable(2) $ 197,937.28 September 25, 2037 II-39-A Variable(2) $ 193,868.84 September 25, 2037 II-39-B Variable(2) $ 193,868.84 September 25, 2037 II-40-A Variable(2) $ 189,889.63 September 25, 2037 II-40-B Variable(2) $ 189,889.63 September 25, 2037 II-41-A Variable(2) $ 185,997.55 September 25, 2037 II-41-B Variable(2) $ 185,997.55 September 25, 2037 II-42-A Variable(2) $ 182,190.45 September 25, 2037 II-42-B Variable(2) $ 182,190.45 September 25, 2037 II-43-A Variable(2) $ 178,467.49 September 25, 2037 II-43-B Variable(2) $ 178,467.49 September 25, 2037 II-44-A Variable(2) $ 174,824.84 September 25, 2037 II-44-B Variable(2) $ 174,824.84 September 25, 2037 II-45-A Variable(2) $ 175,559.15 September 25, 2037 II-45-B Variable(2) $ 175,559.15 September 25, 2037 II-47-A Variable(2) $ 218,584.60 September 25, 2037 II-47-B Variable(2) $ 218,584.60 September 25, 2037 II-48-A Variable(2) $ 590,812.98 September 25, 2037 II-48-B Variable(2) $ 590,812.98 September 25, 2037 II-49-A Variable(2) $ 638,155.04 September 25, 2037 II-49-B Variable(2) $ 638,155.04 September 25, 2037 II-50-A Variable(2) $ 124,185.62 September 25, 2037 II-50-B Variable(2) $ 124,185.62 September 25, 2037 II-51-A Variable(2) $ 6,827,423.77 September 25, 2037 II-51-B Variable(2) $ 6,827,423.77 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt4)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as defined herein) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2007-5 Mortgage Loan HE5, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2007-HE5 Asset Backed Pass-Through Certificates, dated as of June 1, 2007 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), HSBC Bank USA, National Association as trustee (the “Trustee”) and Ocwen Loan Servicing, LLP (the “Servicer”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated June 22, 2007 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 B Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 Certificates and R Certificates, (xix) the Class B-7 R‑CX Certificates and (xx) the Class R‑PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Supplemental Interest Account, the Swap Agreement the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R‑1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Assumed Final Maturity Date1 IX $ 71,489,876.61 Variable2 July 25, 2049 I-1-A $ 905,858.58 Variable2 July 25, 2049 I-1-B $ 905,858.58 Variable2 July 25, 2049 I-2-B $ 1,197,433.72 Variable2 July 25, 2049 I-3-B $ 1,451,772.20 Variable2 July 25, 2049 I-4-B $ 1,697,595.76 Variable2 July 25, 2049 I-5-A $ 528,759.23 Variable2 July 25, 2049 I-5-B $ 528,759.23 Variable2 July 25, 2049 I-6-A $ 766,429.29 Variable2 July 25, 2049 I-6-B $ 766,429.29 Variable2 July 25, 2049 I-7-A $ 977,920.28 Variable2 July 25, 2049 I-7-B $ 977,920.28 Variable2 July 25, 2049 I-8-B $ 1,184,672.56 Variable2 July 25, 2049 I-9-B $ 1,438,548.39 Variable2 July 25, 2049 I-10-A $ 2,093,305.59 Variable2 July 25, 2049 I-10-B $ 2,093,305.59 Variable2 July 25, 2049 I-11-A $ 2,769,503.63 Variable2 July 25, 2049 I-11-B $ 2,769,503.63 Variable2 July 25, 2049 I-12-A $ 3,131,850.53 Variable2 July 25, 2049 I-12-B $ 3,131,850.53 Variable2 July 25, 2049 I-13-A $ 2,996,878.94 Variable2 July 25, 2049 I-13-B $ 2,996,878.94 Variable2 July 25, 2049 I-14-A $ 2,808,347.52 Variable2 July 25, 2049 I-14-B $ 2,808,347.52 Variable2 July 25, 2049 I-15-A $ 2,632,020.11 Variable2 July 25, 2049 I-15-B $ 2,632,020.11 Variable2 July 25, 2049 I-16-A $ 2,472,875.05 Variable2 July 25, 2049 I-16-B $ 2,472,875.05 Variable2 July 25, 2049 I-17-A $ 2,354,427.43 Variable2 July 25, 2049 I-17-B $ 2,354,427.43 Variable2 July 25, 2049 I-18-A $ 2,238,858.03 Variable2 July 25, 2049 I-18-B $ 2,238,858.03 Variable2 July 25, 2049 I-19-A $ 2,114,379.24 Variable2 July 25, 2049 I-19-B $ 2,114,379.24 Variable2 July 25, 2049 I-20-A $ 2,001,293.57 Variable2 July 25, 2049 I-20-B $ 2,001,293.57 Variable2 July 25, 2049 I-21-A $ 1,104,574.30 Variable2 July 25, 2049 I-21-B $ 1,104,574.30 Variable2 July 25, 2049 I-22-B $ 36,167,417.07 Variable2 July 25, 2049 I-23-A $ 3,082,227.06 Variable2 July 25, 2049 I-23-B $ 3,082,227.06 Variable2 July 25, 2049 I-24-A $ 2,690,789.82 Variable2 July 25, 2049 I-24-B $ 2,690,789.82 Variable2 July 25, 2049 I-25-A $ 2,131,241.07 Variable2 July 25, 2049 I-25-B $ 2,131,241.07 Variable2 July 25, 2049 I-26-A $ 1,796,099.98 Variable2 July 25, 2049 I-26-B $ 1,796,099.98 Variable2 July 25, 2049 I-27-A $ 1,558,452.33 Variable2 July 25, 2049 I-27-B $ 1,558,452.33 Variable2 July 25, 2049 I-28-A $ 1,389,196.45 Variable2 July 25, 2049 I-28-B $ 1,389,196.45 Variable2 July 25, 2049 I-29-A $ 1,262,341.15 Variable2 July 25, 2049 I-29-B $ 1,262,341.15 Variable2 July 25, 2049 I-30-A $ 1,173,382.50 Variable2 July 25, 2049 I-30-B $ 1,173,382.50 Variable2 July 25, 2049 I-31-B $ 1,125,096.11 Variable2 July 25, 2049 I-32-A $ 1,077,004.53 Variable2 July 25, 2049 I-32-B $ 1,077,004.53 Variable2 July 25, 2049 I-33-A $ 1,099,168.22 Variable2 July 25, 2049 I-33-B $ 1,099,168.22 Variable2 July 25, 2049 I-34-A $ 1,391,544.08 Variable2 July 25, 2049 I-34-B $ 1,391,544.08 Variable2 July 25, 2049 I-35-A $ 165,693.41 Variable2 July 25, 2049 I-35-B $ 165,693.41 Variable2 July 25, 2049 I-36-A $ 1,511,188.73 Variable2 July 25, 2049 I-36-B $ 1,511,188.73 Variable2 July 25, 2049 I-37-A $ 944,329.49 Variable2 July 25, 2049 I-37-B $ 944,329.49 Variable2 July 25, 2049 I-38-A $ 872,970.08 Variable2 July 25, 2049 I-38-B $ 872,970.08 Variable2 July 25, 2049 I-39-A $ 807,008.19 Variable2 July 25, 2049 I-39-B $ 807,008.19 Variable2 July 25, 2049 I-40-A $ 746,097.21 Variable2 July 25, 2049 I-40-B $ 746,097.21 Variable2 July 25, 2049 I-41-A $ 712,328.03 Variable2 July 25, 2049 I-41-B $ 712,328.03 Variable2 July 25, 2049 I-42-A $ 654,200.27 Variable2 July 25, 2049 I-42-B $ 654,200.27 Variable2 July 25, 2049 I-43-A $ 630,911.64 Variable2 July 25, 2049 I-43-B $ 630,911.64 Variable2 July 25, 2049 I-44-A $ 570,729.28 Variable2 July 25, 2049 I-44-B $ 570,729.28 Variable2 July 25, 2049 I-45-A $ 552,847.66 Variable2 July 25, 2049 I-45-B $ 552,847.66 Variable2 July 25, 2049 I-46-A $ 537,378.60 Variable2 July 25, 2049 I-46-B $ 537,378.60 Variable2 July 25, 2049 I-47-A $ 517,003.07 Variable2 July 25, 2049 I-47-B $ 517,003.07 Variable2 July 25, 2049 I-48-A $ 505,493.24 Variable2 July 25, 2049 I-48-B $ 505,493.24 Variable2 July 25, 2049 I-49-A $ 491,643.19 Variable2 July 25, 2049 I-49-B $ 491,643.19 Variable2 July 25, 2049 I-50-A $ 483,292.12 Variable2 July 25, 2049 I-50-B $ 483,292.12 Variable2 July 25, 2049 I-51-A $ 472,067.00 Variable2 July 25, 2049 I-51-B $ 472,067.00 Variable2 July 25, 2049 I-52-A $ 460,767.00 Variable2 July 25, 2049 I-52-B $ 460,767.00 Variable2 July 25, 2049 I-53-A $ 449,335.29 Variable2 July 25, 2049 I-53-B $ 449,335.29 Variable2 July 25, 2049 I-54-A $ 437,874.92 Variable2 July 25, 2049 I-54-B $ 437,874.92 Variable2 July 25, 2049 I-55-A $ 426,760.03 Variable2 July 25, 2049 I-55-B $ 426,760.03 Variable2 July 25, 2049 I-56-A $ 410,928.16 Variable2 July 25, 2049 I-56-B $ 410,928.16 Variable2 July 25, 2049 I-57-A $ 394,258.59 Variable2 July 25, 2049 I-57-B $ 394,258.59 Variable2 July 25, 2049 I-58-A $ 376,724.07 Variable2 July 25, 2049 I-58-B $ 376,724.07 Variable2 July 25, 2049 I-59-A $ 12,295,683.04 Variable2 July 25, 2049 I-59-B $ 12,295,683.04 Variable2 July 25, 2049 IIX $ 83,191,014.24 Variable2 July 25, 2049 II-1-A $ 1,054,123.92 Variable2 July 25, 2049 II-1-B $ 1,054,123.92 Variable2 July 25, 2049 II-2-A $ 1,393,422.28 Variable2 July 25, 2049 II-2-B $ 1,393,422.28 Variable2 July 25, 2049 II-3-A $ 1,689,389.30 Variable2 July 25, 2049 II-3-B $ 1,689,389.30 Variable2 July 25, 2049 II-4-A $ 1,975,447.74 Variable2 July 25, 2049 II-4-B $ 1,975,447.74 Variable2 July 25, 2049 II-5-A $ 615,303.27 Variable2 July 25, 2049 II-5-B $ 615,303.27 Variable2 July 25, 2049 II-6-A $ 891,873.71 Variable2 July 25, 2049 II-6-B $ 891,873.71 Variable2 July 25, 2049 II-7-A $ 1,137,980.22 Variable2 July 25, 2049 II-7-B $ 1,137,980.22 Variable2 July 25, 2049 II-8-A $ 1,378,572.44 Variable2 July 25, 2049 II-8-B $ 1,378,572.44 Variable2 July 25, 2049 II-9-A $ 1,674,001.11 Variable2 July 25, 2049 II-9-B $ 1,674,001.11 Variable2 July 25, 2049 II-10-A $ 2,435,924.91 Variable2 July 25, 2049 II-10-B $ 2,435,924.91 Variable2 July 25, 2049 II-11-A $ 3,222,798.87 Variable2 July 25, 2049 II-11-B $ 3,222,798.87 Variable2 July 25, 2049 II-12-A $ 3,644,452.47 Variable2 July 25, 2049 II-12-B $ 3,644,452.47 Variable2 July 25, 2049 II-13-A $ 3,487,389.56 Variable2 July 25, 2049 II-13-B $ 3,487,389.56 Variable2 July 25, 2049 II-14-A $ 3,268,000.48 Variable2 July 25, 2049 II-14-B $ 3,268,000.48 Variable2 July 25, 2049 II-15-A $ 3,062,812.89 Variable2 July 25, 2049 II-15-B $ 3,062,812.89 Variable2 July 25, 2049 II-16-A $ 2,877,619.95 Variable2 July 25, 2049 II-16-B $ 2,877,619.95 Variable2 July 25, 2049 II-17-A $ 2,739,785.57 Variable2 July 25, 2049 II-17-B $ 2,739,785.57 Variable2 July 25, 2049 II-18-A $ 2,605,300.47 Variable2 July 25, 2049 II-18-B $ 2,605,300.47 Variable2 July 25, 2049 II-19-A $ 2,460,447.76 Variable2 July 25, 2049 II-19-B $ 2,460,447.76 Variable2 July 25, 2049 II-20-A $ 2,328,852.93 Variable2 July 25, 2049 II-20-B $ 2,328,852.93 Variable2 July 25, 2049 II-21-A $ 1,285,364.20 Variable2 July 25, 2049 II-21-B $ 1,285,364.20 Variable2 July 25, 2049 II-22-A $ 42,087,076.43 Variable2 July 25, 2049 II-22-B $ 42,087,076.43 Variable2 July 25, 2049 II-23-A $ 3,586,706.94 Variable2 July 25, 2049 II-23-B $ 3,586,706.94 Variable2 July 25, 2049 II-24-A $ 3,131,201.68 Variable2 July 25, 2049 II-24-B $ 3,131,201.68 Variable2 July 25, 2049 II-25-A $ 2,480,069.43 Variable2 July 25, 2049 II-25-B $ 2,480,069.43 Variable2 July 25, 2049 II-26-A $ 2,090,074.52 Variable2 July 25, 2049 II-26-B $ 2,090,074.52 Variable2 July 25, 2049 II-27-A $ 1,813,530.17 Variable2 July 25, 2049 II-27-B $ 1,813,530.17 Variable2 July 25, 2049 II-28-A $ 1,616,571.55 Variable2 July 25, 2049 II-28-B $ 1,616,571.55 Variable2 July 25, 2049 II-29-A $ 1,468,953.35 Variable2 July 25, 2049 II-29-B $ 1,468,953.35 Variable2 July 25, 2049 II-30-A $ 1,365,434.50 Variable2 July 25, 2049 II-30-B $ 1,365,434.50 Variable2 July 25, 2049 II-31-A $ 1,309,244.89 Variable2 July 25, 2049 II-31-B $ 1,309,244.89 Variable2 July 25, 2049 II-32-A $ 1,253,281.97 Variable2 July 25, 2049 II-32-B $ 1,253,281.97 Variable2 July 25, 2049 II-33-A $ 1,279,073.28 Variable2 July 25, 2049 II-33-B $ 1,279,073.28 Variable2 July 25, 2049 II-34-A $ 1,619,303.42 Variable2 July 25, 2049 II-34-B $ 1,619,303.42 Variable2 July 25, 2049 II-35-A $ 192,813.09 Variable2 July 25, 2049 II-35-B $ 192,813.09 Variable2 July 25, 2049 II-36-A $ 1,758,530.77 Variable2 July 25, 2049 II-36-B $ 1,758,530.77 Variable2 July 25, 2049 II-37-A $ 1,098,891.51 Variable2 July 25, 2049 II-37-B $ 1,098,891.51 Variable2 July 25, 2049 II-38-A $ 1,015,852.42 Variable2 July 25, 2049 II-38-B $ 1,015,852.42 Variable2 July 25, 2049 II-39-A $ 939,094.31 Variable2 July 25, 2049 II-39-B $ 939,094.31 Variable2 July 25, 2049 II-40-A $ 868,213.79 Variable2 July 25, 2049 II-40-B $ 868,213.79 Variable2 July 25, 2049 II-41-A $ 828,917.47 Variable2 July 25, 2049 II-41-B $ 828,917.47 Variable2 July 25, 2049 II-42-A $ 761,275.73 Variable2 July 25, 2049 II-42-B $ 761,275.73 Variable2 July 25, 2049 II-43-A $ 734,175.36 Variable2 July 25, 2049 II-43-B $ 734,175.36 Variable2 July 25, 2049 II-44-A $ 664,142.72 Variable2 July 25, 2049 II-44-B $ 664,142.72 Variable2 July 25, 2049 II-45-A $ 643,334.34 Variable2 July 25, 2049 II-45-B $ 643,334.34 Variable2 July 25, 2049 II-46-A $ 625,333.40 Variable2 July 25, 2049 II-46-B $ 625,333.40 Variable2 July 25, 2049 II-47-A $ 601,622.93 Variable2 July 25, 2049 II-47-B $ 601,622.93 Variable2 July 25, 2049 II-48-A $ 588,229.26 Variable2 July 25, 2049 II-48-B $ 588,229.26 Variable2 July 25, 2049 II-49-A $ 572,112.31 Variable2 July 25, 2049 II-49-B $ 572,112.31 Variable2 July 25, 2049 II-50-A $ 562,394.38 Variable2 July 25, 2049 II-50-B $ 562,394.38 Variable2 July 25, 2049 II-51-A $ 549,332.00 Variable2 July 25, 2049 II-51-B $ 549,332.00 Variable2 July 25, 2049 II-52-A $ 536,182.50 Variable2 July 25, 2049 II-52-B $ 536,182.50 Variable2 July 25, 2049 II-53-A $ 522,879.71 Variable2 July 25, 2049 II-53-B $ 522,879.71 Variable2 July 25, 2049 II-54-A $ 509,543.58 Variable2 July 25, 2049 II-54-B $ 509,543.58 Variable2 July 25, 2049 II-55-A $ 496,609.47 Variable2 July 25, 2049 II-55-B $ 496,609.47 Variable2 July 25, 2049 II-56-A $ 478,186.34 Variable2 July 25, 2049 II-56-B $ 478,186.34 Variable2 July 25, 2049 II-57-A $ 458,788.41 Variable2 July 25, 2049 II-57-B $ 458,788.41 Variable2 July 25, 2049 II-58-A $ 438,383.93 Variable2 July 25, 2049 II-58-B $ 438,383.93 Variable2 July 25, 2049 II-59-A $ 14,308,164.46 Variable2 July 25, 2049 II-59-B $ 14,308,164.46 Variable2 July 25, 2049 P $ 100.00 Variable2 July 25, 2049 _________________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Upper-Tier REMIC and month following the Class A-R-II Certificate represents maturity date for the sole class of residual interest in Mortgage Loan with the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as a the “latest possible maturity date” for each REMIC regular interest1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He4)
PRELIMINARY STATEMENT. Through this AgreementIn exchange for the Certificates, the Depositor intends hereby conveys the Trust Estate to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of Trustee to create the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated Estate for federal income tax purposes will be treated as comprising two three separate real estate mortgage investment conduits (each, a “the "Upper-Tier REMIC” or, in ," the alternative, "Middle-Tier REMIC" and the “"Lower-Tier REMIC” ," respectively, and the “Upper-Tier each, a "REMIC”"). Each Certificate, The Senior Certificates (other than the Class A1-CB-1, Class 1-CB-5, Class 1-CB-6, Class CB-IO, Class X-IO, Class CB-PO, Class X-PO and Class 1-CB-R Certificate Certificates and the right of the Class A1-R-II Certificate, CB-1 Certificates to receive amounts from the Reserve Fund) are referred to collectively as the "Regular Certificates" and shall represent ownership of a constitute "regular interest interests" in the Upper-Tier REMIC. The Class 1-CB-PO Component, as described herein. In additionClass 2-CB-PO Component and Class 3-CB-PO Component (the "Class CB-PO Components"), the Class 4-X-PO Component and Class 5-X-PO Component (i) the "Class X-PO Components" and, together with the Class CB-PO Components, the "PO Components"), the Class 1-A-1A, Class 1CB-A-1BIO Component, Class 2-A-1A, Class 2CB-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 IO Component and Class B-7 Certificates represent 3-CB-IO Component (the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) "Class CB-IO Components"), the Class 14-A-1A, Class 1X-A-1B, Class 2-A-1A, Class 2-A-1B, IO Component and Class 25-A-1C Certificates represent X-IO Component (the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of "Class X-IO Components" and, together with the Class X-1 and Class X-2 Certificates beneficially own CB-IO Components, the Basis Risk Reserve Fund and "IO Components" and, collectively with the Yield Maintenance Account. The Class P Certificate represents an interest in PO Components, the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest "Components") shall also constitute "regular interests" in the Upper-Tier REMIC REMIC. The Class 1-CB-1 Interest, the Class 1-CB-5 Interest and the Class A1-RCB-6 Interest (collectively, the "Uncertificated Upper-II Certificate represents Tier Interests") shall also constitute "regular interests" in the sole class of residual interest Upper-Tier REMIC. The Uncertificated Middle-Tier Interests shall constitute the "regular interests" in the Middle-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The LowerClass R-U Interest shall be the sole "residual interest" in the Upper-Tier REMIC REMIC. The Class R-M Interest shall hold as assets all property of be the Trust Fund other than the assets held sole "residual interest" in the Basis Risk Reserve Fund, Middle-Tier REMIC. The Class R-L Interest shall be the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests sole "residual interest" in the Lower-Tier REMIC formed herebyREXXX. The Upper Class 1-CB-R Certificate shall represent ownership of the Class R-U Interest, the Class R-M Interest and the Class R-L Interest. The portion of the Trust Estate consisting of (i) the Resxxxe Fund and the Yield Maintenance Agreement and the right of the Class 1-CB-1 Certificates to receive amounts from the Reserve Fund and (ii) the Uncertificated Upper-Tier Interests and the rights of the Class 1-CB-1 Certificates, the Class 1-CB-5 Certificates and the Class 1-CB-6 Certificates to receive payments with respect thereto shall not be assets of any REMIC created hereunder, but rather shall hold as be assets of the uncertificated Grantor Trust. The assets of the Grantor Trust, the Certificates, the Uncertificated Upper-Tier Interests, the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following tables set forth characteristics of the Certificates, the Components and the Uncertificated Upper-Tier Interests, other than together with the Class LT-R Interest, ownership minimum denominations and integral multiples in excess thereof in which the Classes of which Certificates shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.issuable:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-two Classes of certificatesCertificates, designated as (i) the Class 1-A-1A A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class 2-A-1A B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class 2-A-1B P Certificates, (v) the Class 2-A-1C CE-1 and Class CE-2 Certificates, (vi) the Class X-1 Certificates, R Certificates and (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II X Certificates. The Depositor hereby assigns to the Trustee, (xii) acting on behalf of the Class P Certificates, (xiii) Certificateholders its interests and rights in the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, for federal income tax purposes, the Trustee shall will elect that to treat the Trust Fund segregated pools of assets subject to this Agreement (exclusive of the assets held in Cap Account, the Basis Risk Reserve Fund Fund, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsSwap Account) be treated for federal income tax purposes as comprising two ten real estate mortgage investment conduits (each, a “REMIC”): the Subsidiary REMIC 1, the Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class XX XXXXX, the Class P REMIC and the four Class B REMICs. The Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. The Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” or, in the alternativeSubsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in the Subsidiary REMIC 1. The Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. The Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “Lower-Tier regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC” . The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the “Upper-Tier REMIC”). Each Certificate, interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate CE-1, Class CE-2, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class A-R-II CertificateBM Interests, shall which will represent ownership of a the “regular interest interests” in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class XX XXXXX. The assets of the Class XX XXXXX will consist of the Class CEM Interest in the Master REMIC and interests in the Class XX XXXXX will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class XX XXXXX and (ii) the Class CER-A-1AX Interest, which will represent the single class of “residual interest” in the Class XX XXXXX. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class 1-A-1BSR2, Class 2-A-1A, Class 2-A-1BIR, and Class 2MR Interests, and the Class R-A-1C X Certificates will represent ownership of the right to receive payments residual interest in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners each of the Class X-1 and XX XXXXX, the Class X-2 Certificates beneficially own the Basis Risk Reserve Fund P REMIC and the Yield Maintenance Accountfour Class B REMICs. The Class P Certificate represents an interest “latest possible maturity date” for federal income tax purposes of all REMICs, and regular and residual interests created hereunder is the 36th month following the month of the scheduled maturity of the Mortgage Loan held in the Trust Fund but does not represent an interest in any REMIC created hereunderas of the Closing Date having the latest maturity date. The Class A-R Certificate represents the sole class Subsidiary REMIC 1 The Subsidiary REMIC 1 Interests, each of residual interest in the Upper-Tier REMIC and which (except for the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC SR1 Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest ) is hereby designated as a REMIC regular interest.interest for federal income tax purposes, will have the principal balances and pass-through rates as set forth in the following table: Subsidiary REMIC 1 Lower Tier Class Designation Initial Principal Balance Subsidiary REMIC 1 Lower Tier Interest Rate Class LT1-Pool (1) (1) Class LT1-F1 $ 8,455,574.51 (2) Class LT1-V1 $ 8,455,574.51 (3) Class LT1-F2 $ 9,745,591.63 (2) Class LT1-V2 $ 9,745,591.63 (3) Class LT1-F3 $ 10,971,141.89 (2) Class LT1-V3 $ 10,971,141.89 (3) Class LT1-F4 $ 12,147,327.14 (2) Class LT1-V4 $ 12,147,327.14 (3) Class LT1-F5 $ 13,246,206.33 (2) Class LT1-V5 $ 13,246,206.33 (3) Class LT1-F6 $ 14,274,602.86 (2) Class LT1-V6 $ 14,274,602.86 (3) Class LT1-F7 $ 15,152,326.46 (2) Class LT1-V7 $ 15,152,326.46 (3) Class LT1-F8 $ 15,511,251.03 (2) Class LT1-V8 $ 15,511,251.03 (3) Class LT1-F9 $ 15,437,985.87 (2) Class LT1-V9 $ 15,437,985.87 (3) Class LT1-F10 $ 15,088,232.42 (2) Class LT1-V10 $ 15,088,232.42 (3) Class LT1-F11 $ 14,534,144.56 (2) Class LT1-V11 $ 14,534,144.56 (3) Class LT1-F12 $ 13,875,556.71 (2) Class LT1-V12 $ 13,875,556.71 (3) Class LT1-F13 $ 13,243,216.32 (2) Class LT1-V13 $ 13,243,216.32 (3) Class LT1-F14 $ 12,650,928.67 (2) Class LT1-V14 $ 12,650,928.67 (3) Class LT1-F15 $ 12,100,883.68 (2) Class LT1-V15 $ 12,100,883.68 (3) Class LT1-F16 $ 11,559,804.60 (2) Class LT1-V16 $ 11,559,804.60 (3) Class LT1-F17 $ 11,062,424.83 (2) Class LT1-V17 $ 11,062,424.83 (3) Class LT1-F18 $ 10,610,513.60 (2) Class LT1-V18 $ 10,610,513.60 (3) Class LT1-F19 $ 19,978,798.39 (2) Class LT1-V19 $ 19,978,798.39 (3) Class LT1-F20 $ 32,131,670.88 (2) Class LT1-V20 $ 32,131,670.88 (3) Class LT1-F21 $ 12,512,363.37 (2) Class LT1-V21 $ 12,512,363.37 (3) Class LT1-F22 $ 24,913,525.07 (2) Class LT1-V22 $ 24,913,525.07 (3) Class LT1-F23 $ 11,224,061.29 (2) Class LT1-V23 $ 11,224,061.29 (3) Class LT1-F24 $ 5,764,043.39 (2) Class LT1-V24 $ 5,764,043.39 (3)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass 2006-Cb7 Trust)
PRELIMINARY STATEMENT. Through this AgreementIn exchange for the Certificates, the Depositor intends hereby conveys the Trust Estate to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of Trustee to create the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated Estate for federal income tax purposes will be treated as comprising two three separate real estate mortgage investment conduits (each, a “the "Upper-Tier REMIC” or, in ," the alternative, "Middle-Tier REMIC" and the “"Lower-Tier REMIC” ," respectively, and the “Upper-Tier each, a "REMIC”"). Each Certificate, The Senior Certificates (other than the Class CB-IO, Class 15-IO, Class SES, Class 1-A-R Certificate R, Class 1-A-MR, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class A15-R-II Certificate, B Certificates are referred to collectively as the "Regular Certificates" and shall represent ownership of a constitute "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the The Class 1-A-1APO Component, Class 1-A-1BIO Component, Class 1-SES Component, Class 2-A-1APO Component, Class 2-A-1BIO Component, Class 2-A-1CSES Component, Class B-13-PO Component, Class B-23-IO Component, Class B-33-SES Component, Class B-44-PO Component, Class B-54-SES Component, Class B-6 5-PO Component, Class 5-IO Component, Class 5-SES Component, Class 6-PO Component, Class 6-IO Component and Class B-7 Certificates represent 6-SES Component (collectively, the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii"Components") the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest shall also constitute "regular interests" in the Upper-Tier REMIC and REMIC. The Uncertificated Middle-Tier Interests shall constitute the Class A"regular interests" in the Middle-RTier REMIC. The Uncertificated Lower-II Certificate represents Tier Interests shall constitute the sole class of residual interest "regular interests" in the Lower-Tier REMIC. The LowerClass 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC, the Class 1-A-MR Certificate shall be the "residual interest" in the Middle-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC formed herebyREMIC. The Upper Tier REMIC shall hold as assets Certificates, the uncertificated Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC InterestsCertificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, other than together with the Class LT-R Interest, ownership minimum denominations and integral multiples in excess thereof in which the Classes of which Certificates shall be evidenced by issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.minimum denomination):
Appears in 1 contract
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan ASAP5, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-ASAP5, Asset Backed Pass-Through Certificates, dated as of September 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) Certificates and the Class 2-A-1A CertificatesA-2A, Class A-2B, Class A-2C and Class A-2D Certificates (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the “Upper-Tier REMICClass A-2 Certificates”). Each Certificate, other than the Class A-R Certificate ) and the Class A-R-II CertificateX-0, shall represent ownership Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10 and Class M-11 Certificates (collectively, the “Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“DBSI”), pursuant to the Second Amended and Restated Underwriting Agreement, dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated September 27, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 8 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 Certificates, P Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure—the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account and (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier Regular Interests as assets of the Upper-Tier REMIC. For purposes of the REMIC Provisions, the startup day for the Lower-Tier REMIC shall hold as assets all property and the Upper-Tier REMIC is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier Interest in the Trust Fund Lower-Tier REMIC, each of which, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests LT-R Lower-Tier Interest) is hereby designated as a regular interest in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets (the uncertificated “Lower-Tier REMIC Regular Interests, other than the ): Designation Interest Rate Initial Principal Balance Corresponding Class of Certificate LT-1A-1 (1) $ 180,269,500.00 1A-1 LT-2A-1A (1) $ 211,386,000.00 2A-1A LT-2A-1B (1) $ 88,077,500.00 2A-1B LT-2A-1C (1) $ 52,846,500.00 2A-1C LT-B-1 (1) $ 14,910,000.00 B-0 XX-X-0 (1) $ 12,822,500.00 B-0 XX-X-0 (1) $ 2,982,000.00 B-0 XX-X-0 (1) $ 9,542,500.00 B-0 XX-X-0 (1) $ 4,175,000.00 B-0 XX-X-0 (1) $ 5,964,000.00 B-0 XX-X-0 (1) $ 3,876,500.00 B-0 XX-X-0 (1) $ 4,771,000.00 B-8 LT-Q (1) $ 601,163,746.61 N/A LT-I (2) (2) N/A LT-R Interest, ownership of which shall be evidenced by the Class (3) (3) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Harborview 2006-8)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-two Classes of certificatesCertificates, designated as (i) the Class 1-A-1A AF-1A, Class AF-1B, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class 2-A-1A B-1 and Class B-2 Certificates, (iv) the Class 2-A-1B P Certificates, (v) the Class 2-A-1C CE-1 and Class CE-2 Certificates, (vi) the Class X-1 Certificates, R Certificates and (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II X Certificates. The Depositor hereby assigns to the Trustee, (xii) acting on behalf of the Class P Certificates, (xiii) Certificateholders its interests and rights in the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, for federal income tax purposes, the Trustee shall will elect that to treat the Trust Fund segregated pools of assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsSwap Account) be treated for federal income tax purposes as comprising two ten real estate mortgage investment conduits (each, a “REMIC”): Subsidiary REMIC 1, Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class XX XXXXX, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” or, in Subsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in Subsidiary REMIC 1. Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the alternativeIntermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “Lower-Tier regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC” . The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the “Upper-Tier REMIC”). Each Certificate, interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate CE-1, Class CE-2, Class P, Class M-7, Class M-8 and Class B Certificates), the Class CEM Interest, the Class PM Interest, the Class M-7M Interest, the Class M-8M Interest and the two Class A-R-II CertificateBM Interests, shall which will represent ownership of a the “regular interest interests” in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class XX XXXXX. The assets of the Class XX XXXXX will consist of the Class CEM Interest in the Master REMIC and interests in the Class XX XXXXX will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class XX XXXXX and (ii) the Class CER-A-1AX Interest, which will represent the single class of “residual interest” in the Class XX XXXXX. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold the Class M-7M Interest in the Master REMIC for the benefit of the Class M-7 REMIC. The assets of the Class M-7 REMIC will consist of the Class M-7M Interest in the Master REMIC and interests in the Class M-7 REMIC will be evidenced by (i) the Class M-7 Certificate, which will represent the “regular interest” in the Class M-7 REMIC and (ii) the uncertificated Class M-7R Interest, which will represent the single class of “residual interest” in the Class M-7 REMIC. The Trustee will hold the Class M-8M Interest in the Master REMIC for the benefit of the Class M-8 REMIC. The assets of the Class M-8 REMIC will consist of the Class M-8M Interest in the Master REMIC and interests in the Class M-8 REMIC will be evidenced by (i) the Class M-8 Certificate, which will represent the “regular interest” in the Class M-8 REMIC and (ii) the uncertificated Class M-8R Interest, which will represent the single class of “residual interest” in the Class M-8 REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class 1-A-1BSR2, Class 2-A-1A, Class 2-A-1BIR, and Class 2MR Interests, and the Class R-A-1C X Certificates will represent ownership of the right to receive payments residual interest in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners each of the Class X-1 and XX XXXXX, the Class X-2 Certificates beneficially own P REMIC, the Basis Risk Reserve Fund Class M-7 REMIC, the Class M-8 REMIC and the Yield Maintenance Accounttwo Class B REMICs. The Class P Certificate represents an interest “latest possible maturity date” for federal income tax purposes of all REMICs, and regular and residual interests created hereunder is the 36th month following the month of the scheduled maturity of the Mortgage Loan held in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than Closing Date having the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestlatest maturity date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass 2007-Cb1 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1-A-1B M-1 Certificates, (iii) the Class 2-A-1A M-2 Certificates, (iv) the Class 2-A-1B M-3 Certificates, (v) the Class 2-A-1C M-4 Certificates, (vi) the Class X-1 M-5 Certificates, (vii) the Class X-2 M-6 Certificates, (viii) the Class PO-1 M-7 Certificates, (ix) the Class PO-2 M-8 Certificates, (x) the Class A-R M-9 Certificates, (xi), ) the Class A-R-II M-10 Certificates, (xii) the Class P M-11 Certificates, (xiii) the Class B-1 M-12 Certificates, (xiv) the Class B-2 M-13 Certificates, (xv) the Class B-3 M-14 Certificates, (xvi) the Class B-4 M-15 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates, (xxi) the Class X-1 Certificates and (xxii) the Class X-2 Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 126,499,957.41 November 25, 2035 I-1-II Certificate. Each such LowerB Variable(2) $ 10,852,756.25 November 25, 2035 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 9,815,077.50 November 25, 2035 I-4-B Variable(2) $ 9,334,003.75 November 25, 2035 I-6-B Variable(2) $ 8,441,337.50 November 25, 2035 I-7-B Variable(2) $ 8,027,500.00 November 25, 2035 I-8-B Variable(2) $ 7,633,918.75 November 25, 2035 I-9-B Variable(2) $ 7,259,603.75 November 25, 2035 I-10-B Variable(2) $ 7,359,948.75 November 25, 2035 I-11-B Variable(2) $ 8,547,723.75 November 25, 2035 I-13-B Variable(2) $ 5,818,463.75 November 25, 2035 I-14-B Variable(2) $ 5,533,060.00 November 25, 2035 I-15-B Variable(2) $ 5,261,633.75 November 25, 2035 I-16-B Variable(2) $ 5,003,500.00 November 25, 2035 I-18-B Variable(2) $ 4,524,542.50 November 25, 2035 I-19-A Variable(2) $ 4,302,511.25 November 25, 2035 I-19-B Variable(2) $ 4,302,511.25 November 25, 2035 I-20-A Variable(2) $ 4,091,358.75 November 25, 2035 I-20-B Variable(2) $ 4,091,358.75 November 25, 2035 I-21-B Variable(2) $ 3,890,550.00 November 25, 2035 I-23-B Variable(2) $ 3,517,966.25 November 25, 2035 I-24-A Variable(2) $ 3,345,252.50 November 25, 2035 I-24-B Variable(2) $ 3,345,252.50 November 25, 2035 I-25-B Variable(2) $ 3,181,002.50 November 25, 2035 I-26-A Variable(2) $ 3,024,802.50 November 25, 2035 I-26-B Variable(2) $ 3,024,802.50 November 25, 2035 I-27-A Variable(2) $ 2,876,258.75 November 25, 2035 I-27-B Variable(2) $ 2,876,258.75 November 25, 2035 I-28-A Variable(2) $ 2,734,996.25 November 25, 2035 I-28-B Variable(2) $ 2,734,996.25 November 25, 2035 I-29-A Variable(2) $ 2,600,658.75 November 25, 2035 I-29-B Variable(2) $ 2,600,658.75 November 25, 2035 I-30-B Variable(2) $ 2,472,906.25 November 25, 2035 I-32-B Variable(2) $ 2,235,886.25 November 25, 2035 I-33-A Variable(2) $ 2,126,020.00 November 25, 2035 I-33-B Variable(2) $ 2,126,020.00 November 25, 2035 I-34-B Variable(2) $ 2,021,541.25 November 25, 2035 I-35-A Variable(2) $ 1,922,186.25 November 25, 2035 I-35-B Variable(2) $ 1,922,186.25 November 25, 2035 I-36-B Variable(2) $ 1,827,706.25 November 25, 2035 I-38-B Variable(2) $ 1,652,421.25 November 25, 2035 I-39-A Variable(2) $ 1,571,173.75 November 25, 2035 I-39-B Variable(2) $ 1,571,173.75 November 25, 2035 I-40-B Variable(2) $ 1,493,912.50 November 25, 2035 I-41-A Variable(2) $ 28,802,973.75 November 25, 2035 I-41-B Variable(2) $ 28,802,973.75 November 25, 2035 P Variable(2) $ 100.00 November 25, 2035 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-A)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052004-5 10 Mortgage Loan Pass-Through Certificates, Series 20052004-5 10 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2A Certificates, (iii) the Class 21-A-1A A-2B Certificates, (iv) the Class 2-A-1B A Certificates, (v) the Class 23-A-1C A-1A Certificates, (vi) the Class X-1 3-A-1B Certificates, (vii) the Class X-2 4-A Certificates, (viii) the Class PO-1 X-1 Certificates, (ix) the Class PO-2 X-2 Certificates, (x) the Class X-3 Certificates, (xi) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P B-1 Certificates, (xiii) the Class B-1 B-2 Certificates, (xiv) the Class B-2 B-3 Certificates, (xv) the Class B-3 B-4 Certificates, (xvi) the Class B-4 B-5 Certificates, (xvii) the Class B-5 B-6 Certificates, (xviii) the Class B-6 Certificates P Certificate and (xix) the Class B-7 CertificatesY Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class P, Class Y and Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners Each of the Class X-1 P and Class X-2 Y Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the Upper-Tier REMIC and excess, if any, of amounts paid with respect to the Class A-R-II Certificate represents Yield Maintenance Agreement in excess of the sole class of residual interest in Yield Maintenance Distributable Amount for the Lower-Tier REMICYield Maintenance Agreement. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower Tier REMIC Class Designation Interest Rate Initial Class Principal Balance Related Loan Group Class LT-Group 1 (1) $ 158,612,755.32 Group1 Class LT-SC1 (1) $ 123,815.71 Group 1 Class LT-Group 2 (2) $ 115,245,188.61 Group 2 Class LT-SC2 (2) $ 89,961.50 Group 2 Class LT-Group 3 (3) $ 279,719,560.29 Group 3 Class LT-SC3 (3) $ 218,359.19 Group 3 Class LT-Group 4 (4) $ 174,016,743.64 Group 4 Class LT-SC4 (4) $ 135,844.89 Group 4 Class LT-R (5) (5) N/A __________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-10)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 9 Mortgage Loan Pass-Through Certificates, Series 2005-5 9 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen forty classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1A-A-1B R Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 3-X Certificates, (ix) the Class PO-2 1-PO Certificates, (x) the Class A2-R PO Certificates, (xi)) the Class 3-PO Certificates, (xii) the Class B-1 Certificates, (xiii) the Class B-2 Certificates, (xiv) the Class B-3 Certificates, (xv) the Class B-4 Certificates, (xvi) the Class B-5 Certificates, (xvii) the Class B-6 Certificates, (xviii) the Class B-7 Certificates, (xix) the Class B-8 Certificates, (xx) the Class B-9 Certificates, (xxi) the Class B-10 Certificates, (xxii) the Class B-11 Certificates, (xxiii) the Class B-12 Certificates, (xxiv) the Class B-13 Certificates, and (xxv) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 2-X Certificates and the Class X-2 3-X Certificates jointly beneficially own the Basis Risk Reserve Fund and the owners of the Class 2-X Certificates beneficially own the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 972,579,102.84 Group 1 LT-Group 1 SCA (1) $ 1,529,353.06 Group 1 LT-Group 2 (2) $ 1,613,993,391.46 Group 2 LT-Group 2 SCA (2) $ 2,537,963.05 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Samples: Pooling Agreement (HarborView Mortgage Loan Trust 2005-9)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView MortgageIT Mortgage Loan Trust 20052006-5 1 Mortgage Loan Pass-Through Certificates, Series 20052006-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 21-A-1A X Certificates, (iv) the Class 2A-A-1B CertificatesR Certificate, (v) the Class 21-A-1C B1 Certificates, (vi) the Class X-1 1-B2 Certificates, (vii) the Class X-2 1-B3 Certificates, (viii) the Class PO-1 1-B4 Certificates, (ix) the Class PO-2 1-B5 Certificates, (x) the Class A1-R B6 Certificates, (xi), ) the Class A1-R-II P Certificates, (xii) the Class P 2-A1A Certificates, (xiii) the Class B-1 2-A1B Certificates, (xiv) the Class B-2 2-A1C Certificates, (xv) the Class B-3 2-X Certificates, (xvi) the Class B-4 2-X-B Certificates, (xvii) the Class B-5 2-PO Certificates, (xviii) the Class B-6 Certificates and 2-PO-B Certificates, (xix) the Class B-7 2-B1 Certificates, (xx) the Class 2-B2 Certificates, (xxi) the Class 2-B3 Certificates, (xxii) the Class 2-B4 Certificates, (xxiii) the Class 2-B5 Certificates, (xxiv) the Class 2-B6 Certificates and (xxv) the Class 2-P Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Funds, the Yield Maintenance Agreements, the Yield Maintenance Account and (collectively, the Yield Maintenance Agreements“Excluded Trust Assets”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure - the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA1, Class 1-A-1BA2, Class 1-B1, Class 1-B2, Class 2-A-1AA1A, Class 2-A-1BA1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 A1C and Class B-7 the Group 2 Subordinate Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Group 1 Basis Risk Reserve Fund, Group 2-A Basis Risk Reserve Fund and the Group 2-B Basis Risk Reserve Fund, as applicable, as provided in Section 5.07 5.08, and (ii) the Class 1-A-1AA1, Class 1-A-1BA2, Class 1-B1, Class 1-B2, Class 2-A-1AA1A, Class 2-A-1BA1B, and Class 2-A-1C A1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 1-X Certificates beneficially own the Group 1 Basis Risk Reserve Fund and the portion of the Yield Maintenance AccountAccount related to Group 1. The owners of the Class P Certificate represents an interest in 2-X Certificates beneficially own the Trust Group 2-A Basis Risk Reserve Fund but does not represent an interest in any REMIC created hereunderand the portion of the Yield Maintenance Account related to Group 2. The owners of the Class 2-X-B Certificates beneficially own the Group 2-B Basis Risk Reserve Fund. The Class A-R Certificate represents the sole class of residual interest in the Uppereach REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Assets) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier REMIC shall hold Regular Interests as assets all property of the Trust Fund other than Upper-Tier REMIC. For purposes of the assets held in the Basis Risk Reserve FundREMIC Provisions, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in startup day for the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets and the uncertificated LowerUpper-Tier REMIC Interests, other than is the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II CertificateClosing Date. Each such Lower-Tier Interest is hereby designated as a All REMIC regular interestand residual interests created hereby will be retired on or before the Latest Possible Maturity Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan OP2, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-OP2, Asset Backed Pass-Through Certificates, dated as of October 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Wxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Option One Mortgage Corporation as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Publicly Offered Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated October 20, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-11 Certificates (the “Class M-11 Certificates”; together with the Publicly Offered Mezzanine Certificates, the “Mezzanine Certificates”) to DBSI pursuant to the Purchase Agreement dated as of October 20, 2006 between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified), the Swap Agreement (as hereinafter defined) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance Mortgage Loans, and sale of the HarborView Subsequent Mortgage Loans transferred to it pursuant to one or more Subsequent Mortgage Loan Purchase Agreements, into a mortgage pool comprising the Trust 2005Fund. The Trust Fund will be evidenced by a single series of mortgage pass-5 Mortgage through certificates designated as ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE4, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2007-HE4, Asset Backed Pass-Through Certificates, dated as of April 1, 2007 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as a servicer (“Ocwen”), GMAC Mortgage, LLC as a servicer (“GMAC”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (the “Mezzanine Certificates, (xii) ”; together with the Class P A Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the Publicly Offered Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated April [ ], 2007 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Distribution Instructions (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen nine classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A Certificates, (iii) the Class 2A-A-1A CertificatesR Certificate, (iv) the Class 2-A-1B B-1 Certificates, (v) the Class 2-A-1C B-2 Certificates, (vi) the Class X-1 B-3 Certificates, (vii) the Class X-2 B-4 Certificates, (viii) the Class PO-1 Certificates, B-5 Certificates and (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT-Group 1 (1) $ 518,524,152.53 N/A LT-SC-1 (1) $ 285,355.08 N/A LT-Group 2 (2) $ 347,396,052.52 N/A LT-SC-2 (2) $ 191,182.35 N/A LT-R (3) (3) Class A-R __________________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1A1-A-1A A Certificates, (ii) the Class 1A1-A-1B B Certificates, (iii) the Class 2A1-A-1A C Certificates, (iv) the Class 2-A-1B AM Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 B Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 Certificates, P Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and and, for the Yield Maintenance avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-1-A Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Account2037 1-1-B Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Agreements2037 1-2-A Variable(2) $ 2,392,637.16 September 25, and the interests in the Lower2037 1-Tier 2-B Variable(2) $ 2,392,637.16 September 25, 2037 1-3-A Variable(2) $ 3,515,987.98 September 25, 2037 1-3-B Variable(2) $ 3,515,987.98 September 25, 2037 1-4-A Variable(2) $ 4,652,077.16 September 25, 2037 1-4-B Variable(2) $ 4,652,077.16 September 25, 2037 1-5-A Variable(2) $ 5,790,398.31 September 25, 2037 1-5-B Variable(2) $ 5,790,398.31 September 25, 2037 1-6-A Variable(2) $ 6,916,224.67 September 25, 2037 Designation Uncertificated REMIC formed hereby. The Upper Tier 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-6-B Variable(2) $ 6,916,224.67 September 25, 2037 1-7-A Variable(2) $ 8,020,326.33 September 25, 2037 1-7-B Variable(2) $ 8,020,326.33 September 25, 2037 1-8-A Variable(2) $ 9,083,173.44 September 25, 2037 1-8-B Variable(2) $ 9,083,173.44 September 25, 2037 1-9-A Variable(2) $ 10,058,672.05 September 25, 2037 1-9-B Variable(2) $ 10,058,672.05 September 25, 2037 1-10-A Variable(2) $ 10,765,542.83 September 25, 2037 1-10-B Variable(2) $ 10,765,542.83 September 25, 2037 1-11-A Variable(2) $ 11,463,933.03 September 25, 2037 1-11-B Variable(2) $ 11,463,933.03 September 25, 2037 1-12-A Variable(2) $ 11,644,488.25 September 25, 2037 1-12-B Variable(2) $ 11,644,488.25 September 25, 2037 1-13-A Variable(2) $ 11,067,336.89 September 25, 2037 1-13-B Variable(2) $ 11,067,336.89 September 25, 2037 1-14-A Variable(2) $ 10,518,483.57 September 25, 2037 1-14-B Variable(2) $ 10,518,483.57 September 25, 2037 1-15-A Variable(2) $ 9,996,426.10 September 25, 2037 1-15-B Variable(2) $ 9,996,426.10 September 25, 2037 1-16-A Variable(2) $ 9,499,998.27 September 25, 2037 1-16-B Variable(2) $ 9,499,998.27 September 25, 2037 1-17-A Variable(2) $ 9,027,876.59 September 25, 2037 1-17-B Variable(2) $ 9,027,876.59 September 25, 2037 1-18-A Variable(2) $ 8,578,837.10 September 25, 2037 1-18-B Variable(2) $ 8,578,837.10 September 25, 2037 1-19-A Variable(2) $ 8,151,847.46 September 25, 2037 1-19-B Variable(2) $ 8,151,847.46 September 25, 2037 1-20-A Variable(2) $ 7,798,892.21 September 25, 2037 1-20-B Variable(2) $ 7,798,892.21 September 25, 2037 1-21-A Variable(2) $ 7,396,029.40 September 25, 2037 1-21-B Variable(2) $ 7,396,029.40 September 25, 2037 1-22-A Variable(2) $ 7,016,763.42 September 25, 2037 1-22-B Variable(2) $ 7,016,763.42 September 25, 2037 1-23-A Variable(2) $ 6,425,008.72 September 25, 2037 1-23-B Variable(2) $ 6,425,008.72 September 25, 2037 1-24-A Variable(2) $ 3,611,587.50 September 25, 2037 1-24-B Variable(2) $ 3,611,587.50 September 25, 2037 1-25-A Variable(2) $ 3,502,440.00 September 25, 2037 1-25-B Variable(2) $ 3,502,440.00 September 25, 2037 1-26-A Variable(2) $ 3,396,127.50 September 25, 2037 1-26-B Variable(2) $ 3,396,127.50 September 25, 2037 1-27-A Variable(2) $ 3,293,460.00 September 25, 2037 1-27-B Variable(2) $ 3,293,460.00 September 25, 2037 Designation Uncertificated REMIC shall hold as assets the uncertificated Lower1 Pass-Tier Through Rate Latest Possible Maturity Date (1) 1-28-A Variable(2) $ 3,193,627.50 September 25, 2037 1-28-B Variable(2) $ 3,193,627.50 September 25, 2037 1-29-A Variable(2) $ 3,096,832.50 September 25, 2037 1-29-B Variable(2) $ 3,096,832.50 September 25, 2037 1-30-A Variable(2) $ 3,003,075.00 September 25, 2037 1-30-B Variable(2) $ 3,003,075.00 September 25, 2037 1-31-A Variable(2) $ 2,911,950.00 September 25, 2037 1-31-B Variable(2) $ 2,911,950.00 September 25, 2037 1-32-A Variable(2) $ 2,823,862.50 September 25, 2037 1-32-B Variable(2) $ 2,823,862.50 September 25, 2037 1-33-A Variable(2) $ 2,738,205.00 September 25, 2037 1-33-B Variable(2) $ 2,738,205.00 September 25, 2037 1-34-A Variable(2) $ 2,654,977.50 September 25, 2037 1-34-B Variable(2) $ 2,654,977.50 September 25, 2037 1-35-A Variable(2) $ 2,574,585.00 September 25, 2037 1-35-B Variable(2) $ 2,574,585.00 September 25, 2037 1-36-A Variable(2) $ 20,079,787.50 September 25, 2037 1-36-B Variable(2) $ 20,079,787.50 September 25, 2037 1-37-A Variable(2) $ 1,882,755.00 September 25, 2037 1-37-B Variable(2) $ 1,882,755.00 September 25, 2037 1-38-A Variable(2) $ 1,825,582.50 September 25, 2037 1-38-B Variable(2) $ 1,825,582.50 September 25, 2037 1-39-A Variable(2) $ 1,770,300.00 September 25, 2037 1-39-B Variable(2) $ 1,770,300.00 September 25, 2037 1-40-A Variable(2) $ 1,716,435.00 September 25, 2037 1-40-B Variable(2) $ 1,716,435.00 September 25, 2037 1-41-A Variable(2) $ 1,664,460.00 September 25, 2037 1-41-B Variable(2) $ 1,664,460.00 September 25, 2037 1-42-A Variable(2) $ 1,613,745.00 September 25, 2037 1-42-B Variable(2) $ 1,613,745.00 September 25, 2037 1-43-A Variable(2) $ 1,564,762.50 September 25, 2037 1-43-B Variable(2) $ 1,564,762.50 September 25, 2037 1-44-A Variable(2) $ 1,517,355.00 September 25, 2037 1-44-B Variable(2) $ 1,517,355.00 September 25, 2037 1-45-A Variable(2) $ 1,471,050.00 September 25, 2037 1-45-B Variable(2) $ 1,471,050.00 September 25, 2037 1-46-A Variable(2) $ 1,426,477.50 September 25, 2037 1-46-B Variable(2) $ 1,426,477.50 September 25, 2037 1-47-A Variable(2) $ 1,383,007.50 September 25, 2037 1-47-B Variable(2) $ 1,383,007.50 September 25, 2037 1-48-A Variable(2) $ 1,341,112.50 September 25, 2037 1-48-B Variable(2) $ 1,341,112.50 September 25, 2037 1-49-A Variable(2) $ 1,300,162.50 September 25, 2037 Designation Uncertificated REMIC Interests1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-49-B Variable(2) $ 1,300,162.50 September 25, other than the Class LT2037 1-R Interest50-A Variable(2) $ 1,260,630.00 September 25, ownership of which shall be evidenced by the Class A2037 1-R50-II Certificate. Each such LowerB Variable(2) $ 1,260,630.00 September 25, 2037 1-Tier Interest is hereby designated as a REMIC regular interest.51-A Variable(2) $ 1,222,357.50 September 25, 2037 1-51-B Variable(2) $ 1,222,357.50 September 25, 2037 1-52-A Variable(2) $ 1,185,030.00 September 25, 2037 1-52-B Variable(2) $ 1,185,030.00 September 25, 2037 1-53-A Variable(2) $ 1,148,962.50 September 25, 2037 1-53-B Variable(2) $ 1,148,962.50 September 25, 2037 1-54-A Variable(2) $ 1,113,997.50 September 25, 2037 1-54-B Variable(2) $ 1,113,997.50 September 25, 2037 1-55-A Variable(2) $ 1,080,135.00 September 25, 2037 1-55-B Variable(2) $ 1,080,135.00 September 25, 2037 1-56-A Variable(2) $ 1,047,217.50 September 25, 2037 1-56-B Variable(2) $ 1,047,217.50 September 25, 2037 1-57-A Variable(2) $ 1,015,245.00 September 25, 2037 1-57-B Variable(2) $ 1,015,245.00 September 25, 2037 1-58-A Variable(2) $ 984,375.00 September 25, 2037 1-58-B Variable(2) $ 984,375.00 September 25, 2037 1-59-A Variable(2) $ 954,292.50 September 25, 2037 1-59-B Variable(2) $ 954,292.50 September 25, 2037 1-60-A Variable(2) $ 30,051,630.00 September 25, 2037 1-60-B Variable(2) $ 30,051,630.00 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 OC Variable(2) $ 196,613,419.09 September 25, 2037 ________________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3)
PRELIMINARY STATEMENT. On June 24, 2004 the Seller formed Txxxxxxxx Mortgage Securities Trust 2004-2, as a Delaware statutory trust (the “Trust”) pursuant to the Trust Agreement, dated June 24, 2004 (the “Original Trust Agreement”), among the Seller, the Trustee and the Delaware Trustee. The parties to this Agreement desire to amend and restate the Original Trust Agreement in its entirety, and, as evidenced by their signatures hereto, the Original Trust Agreement is hereby amended, restated and replaced in its entirety as of the date first written above by this Agreement. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052004-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2A-A-1C X Certificates, (vi) the Class X-1 CertificatesA-R Certificate, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II Certificates, B-5 Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of (i) the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and Additional Collateral, (ii) the Yield Maintenance Agreements, (iii) the Yield Maintenance Amount Account, (iv) the Yield Maintenance Payment Account, (v) the Auction Swap Agreement, (vi) the Available Funds Cap Reserve Fund, and (vii) the Separate Interest Trust) be treated for federal income tax purposes as comprising two four real estate mortgage investment conduits (each, each a “REMIC” or, in the alternative, REMIC 1, REMIC 2, REMIC 3 and REMIC 4; REMIC 4 also being referred to as the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each Certificate, other than the Class A-R X Certificate and the Class A-R-II Certificate, shall represent R Certificate represents ownership of a regular interest in the UpperUpper Tier REMIC for purposes of the REMIC Provisions. The Class A-X Certificate represents ownership of two regular interests in the Upper Tier REMIC, REMIC as described hereinin note 2 of the table below for such REMIC. In addition, (i) each Certificate, other than the Class 1A-A-1AR and the Class A-X Certificates, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent represents the right to receive payments in with respect of Basis Risk to Available Funds Cap Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 pursuant to Sections 5.08 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder5.09 hereof. The Class A-R Certificate represents ownership of the sole class of residual interest in each of REMIC 1, REMIC 2, REMIC 3 and the Upper-Upper Tier REMIC and for purposes of the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICREMIC Provisions. The Lower-Upper Tier REMIC shall hold as its assets all the several classes of uncertificated Lower Tier Regular Interests in REMIC 3, and each such Lower Tier Regular Interest is hereby designated as a regular interest in REMIC 3 for purposes of the REMIC Provisions. REMIC 3 shall hold as its assets the several classes of uncertificated Lower Tier Regular Interests in REMIC 2, and each such Lower Tier Regular Interest is hereby designated as a regular interest in REMIC 2. REMIC 2 shall hold as its assets the several classes of uncertificated Lower Tier Regular Interests in REMIC 1, and each such Lower Tier Regular Interest is hereby designated as a regular interest in REMIC 1. REMIC 1 shall hold as its assets the property of the Trust Fund other than the assets held Lower Tier Regular Interests in REMIC 1, REMIC 2 and REMIC 3, the Basis Additional Collateral, the Available Funds Cap Risk Reserve Fund, the Auction Swap Agreement, Yield Maintenance Agreements, the Yield Maintenance Amount Account, the Yield Maintenance AgreementsPayment Account, and the interests in the Lower-Tier REMIC formed herebySeparate Interest Trust. The Upper Tier startup day for each REMIC shall hold as assets created hereby for purposes of the uncertificated Lower-Tier REMIC InterestsProvisions is the Closing Date. In addition, other than for purposes of the Class LT-R InterestREMIC Provisions, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest latest possible maturity date for each regular interest in each REMIC created hereby is hereby designated as a REMIC regular interestthe Latest Possible Maturity Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2004-2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Swap Agreement (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2007-5 Mortgage Loan SL1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2007-SL1, Asset Backed Pass-Through Certificates, dated as of February 1, 2007 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Wxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as a servicer (“Ocwen”), GMAC Mortgage, LLC as a servicer (“GMAC”, together with Ocwen, the “Servicers”, each a “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificate, Class A-2 Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II M-1 Certificates, (xii) the Class P M-2 Certificates, (xiii) the Class B-1 M-3 Certificates, (xiv) the Class B-2 M-4 Certificates, (xv) the Class B-3 M-5 Certificates, (xvi) the Class B-4 M-6 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 M-7 Certificates and Class M-8 Certificates (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” Publicly Offered Certificates”) to Deutsche Bank Securities Inc. (“DBSI”), pursuant to the Second Amended and Restated Underwriting Agreement, dated as of June 24, 1999, as amended and restated to and including January 25, 2006, between the Purchaser and DBSI, and the Terms Agreement, dated March 1, 2007 (collectively, the “Upper-Tier REMICUnderwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-9 Certificates and the Class M-10 Certificates (together, the “Privately Offered Certificates”; together with the Publicly Offered Certificates, the “Offered Certificates”). Each Certificate, other than Capitalized terms used but not defined herein shall have the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest meanings set forth in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Pooling and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Servicing Agreement. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 B-9 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 R Certificates, (xvii) the Class B-5 Certificates, LT-R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 ES Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Basis Risk Reserve Fund Fund, the Basis Risk Cap Agreement, the Basis Risk Cap Replacement Receipts Account, the Basis Risk Cap Account, the Basis Risk Cap Amount, the Class ES Distributable Amount, the Swap Agreement, the Swap Account, the Swap Amount, the Swap Replacement Receipts Account, the Swap Termination Receipts Account, the Supplemental Interest Trust, the Collateral Account, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises four REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC 1,” the “Middle-Tier REMIC 2,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class AR, Class LT-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, as provided in section 5.01(g), (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Basis Risk Cap Account as provided in Section 4.045.01(j), (iii) payments in respect of Basis Risk Shortfalls from the Supplemental Interest Trust as provided in Section 5.01(k), and (iv) the obligation to pay Class I Shortfalls. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Basis Risk Cap Account, the Supplemental Interest Trust, the Swap Account, the Final Maturity Reserve Account, and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, the Middle-Tier REMIC 1 and the Middle-Tier REMIC 2. The Class ALT-R-II R Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC. The Upper Tier REMIC shall hold as its assets the uncertificated interests in the Middle-Tier REMIC 2 other than the Class LT-R Certificate and other than the Class MT2-R interest (each, a “Middle-Tier REMIC 2 Regular Interest”), and each such Middle-Tier REMIC 2 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 2 for purposes of the REMIC Provisions. Middle-Tier REMIC 2 shall hold as its assets the uncertificated interests in Middle-Tier REMIC 1 other than the Class MT1-R interest (each a “Middle-Tier REMIC 1 Regular Interest”), and each such Middle-Tier REMIC 1 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 1. Middle-Tier REMIC 1 shall hold as its assets the uncertificated interests in the Lower-Tier REMIC (each a “Lower-Tier REMIC Regular Interest”) and one residual interest in the Lower-Tier REMIC (the “LT-R Interest”). Each such Lower-Tier REMIC Regular Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as its assets all the property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in any other REMIC created hereby. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets following table sets forth (or describes) the uncertificated designation, interest rate, and initial principal balance of each Lower-Tier REMIC Interests, other than Regular Interests and the Class LT-R Interest, ownership of which shall be evidenced by the Class ACertificate: Designation Interest Rate Initial Principal Balance LT-RInitial (1) $ 1,577,396,956.28 LT-II Certificate. Each such LowerSubsequent (2) $ 65,972,926.34 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-I (4) (4) LT-R (5) (5)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2007-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 P Certificates, (xv) the Class B-3 Certificates, R Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 LT-R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Senior Basis Risk Reserve Fund and Fund, the Senior Basis Risk Cap Agreement, the Senior Basis Risk Cap Account, the Senior Basis Risk Cap Replacement Receipts Account, the Subordinate Basis Risk Reserve Fund, the Subordinate Basis Risk Cap Agreement, the Subordinate Basis Risk Cap Account, the Subordinate Basis Risk Cap Replacement Receipts Account, the Yield Maintenance Account and Trust, the Yield Maintenance AgreementsTrust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Collateral Account, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class AR and Class LT-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, as provide in section 5.01(g), (ii) payments in respect of Basis Risk Shortfalls from the Senior or Subordinate Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h), and (iv) payments in respect of Basis Risk Shortfalls from the Senior or Subordinate Basis Risk Cap Account as provided in Section 5.12. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Senior and Subordinate Basis Risk Reserve Fund Funds, the Senior Basis Risk Cap Account, the Subordinate Basis Risk Cap Account, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust Account, and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The R and Class ALT-R Certificate represents Certificates represent the sole class only classes of residual interest interests in the Upper-Tier REMIC, as well as the only residual interests in each of the Lower-Tier REMIC and the Class AMiddle-RTier REMIC. The Lower-II Certificate represents Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue five uncertificated interests, four of which shall be the “Lower-Tier Regular Interests” and one residual interest (the “LT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Middle-Tier REMIC will hold as its assets all of the Lower-Tier Regular Interests and shall issue 17 uncertificated interests, 16 of which shall be the “Middle- Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Middle-Tier REMIC. The Upper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC shall hold as assets all property of The following table sets forth (or describes) the Trust Fund other than the assets held in the Basis Risk Reserve Funddesignation, the Yield Maintenance Account, the Yield Maintenance Agreementsinterest rate, and the interests in the initial principal balance of each Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets Regular Interest and the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A: Designation Interest Rate Initial Principal Balance LT-RInitial (1) $ 1,002,941,780.52 LT-II Certificate. Each such LowerSubsequent (2) $ 332,687,557.00 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-I (4) (4) LT-R (5) (5)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2007-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Trust, Mortgage Loan Pass-Through Certificates, Series 20052006-5 3 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B Certificates, (v) the Class 23-A-1C A Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiiivii) the Class B-1 Certificates, (xivviii) the Class B-2 Certificates, (xvix) the Class B-3 Certificates, (xvix) the Class B-4 Certificates, (xviixi) the Class B-5 Certificates, Certificates and (xviiixii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed herebyInterests that it issues. Each such Lower-Tier Interest, other than the LT-R Interest, is hereby designated as a REMIC regular interest. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest is hereby designated as a REMIC regular interest.Rate Initial Principal Balance Related group LT-Group 1 (1) $ 180,118,361.99 Group 1 LT-Group 1 SCA (1) $ 9,428.37 Group 1 LT-Group 2 (2) $ 184,951,801.17 Group 2 LT-Group 2 SCA (2) $ 9,797.70 Group 2 LT-Group 3 (3) $ 74,621,494.40 Group 3 LT-Group 3 SCA (3) $ 3,844.19 Group 3 LT-R (4) (4) N/A
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen [ ] classes of certificates, designated as (i) [the Class 1-A-1A A1-A Certificates, (ii) the Class 1-A-1B A1-B Certificates, (iii) the Class 21-A-1A A1-C Certificates, (iv) the Class 21-A-1B AM Certificates, (v) the Class 2-A-1C A Certificates, (vi) the Class X-1 1-M-1 Certificates, (vii) the Class X-2 1-M-2 Certificates, (viii) the Class PO-1 1-M-3 Certificates, (ix) the Class PO-2 1-M-4 Certificates, (x) the Class A1-R M-5 Certificates, (xi), ) the Class A1-R-II M-6 Certificates, (xii) the Class P 1-M-7 Certificates, (xiii) the Class B-1 1-M-8 Certificates, (xiv) the Class B-2 1-B Certificates, (xv) the Class B-3 1-C Certificates, (xvi) the Class B-4 2-C Certificates, (xvii) the Class B-5 1-P Certificates, (xviii) the Class B-6 Certificates 2-P Certificates, and (xix) the Class B-7 R Certificates. .] REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive of other than the assets held in Group 1 Net WAC Shortfall Reserve Fund, any related Servicer Prepayment Charge Payment Amounts, the Basis Risk Class M Interest Reserve Fund and, for the avoidance of doubt, the Group 1 Supplemental Interest Trust, the Group 1 Derivative Account, the Group 1 Interest Rate Swap Agreement, the Group 1 Cap Contracts and the Yield Maintenance Account and the Yield Maintenance AgreementsGroup 1 Collateral Account) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) [ ] [ ] [ ] [ ] [ ] [ ] Designation Uncertificated REMIC formed hereby. The Upper Tier 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) [ ] [ ] [ ] [ ] [ ] [ ] Designation Uncertificated REMIC shall hold as assets the uncertificated Lower1 Pass-Tier Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) [ ] [ ] [ ] [ ] [ ] [ ] Designation Uncertificated REMIC Interests, other than the Class LT1 Pass-R Interest, ownership of which shall be evidenced by the Class AThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) [ ] [ ] [ ] [ ] [ ] [ ] Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) [ ] [ ] [ ] [ ]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Accredited Mortgage Loan REIT Trust)
PRELIMINARY STATEMENT. Through (Terms used but not defined in this Agreement, Preliminary Statement shall have the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”meanings specified in Article I) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates pass-through certificates to be issued hereunder in multiple classes, classes which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist consisting primarily of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, the Trustee shall will elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two separate real estate mortgage investment conduits (each, each a “"REMIC” " or, in the alternative, the “Lower"REMIC I" and "REMIC II," respectively). The Class A-1, Class A-0, Xxxxx X-Tier REMIC” XX, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L-1 and Class L-2 Certificates constitute "regular interests" in REMIC II and the “UpperClasses R-Tier REMIC”)II Certificates are the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. Each Certificate, other than The Class R-I Certificates are the sole class of "residual interest" in REMIC I for purposes of the REMIC Provisions. There are also eleven classes of uncertificated REMIC I Regular Interests issued under this Agreement (the Class A-R L-1, Class A-L-2, Class B-L, Class C-L, Xlass D-L, Class E-L, Class F-L, Class G-L, Class H-L, Class J-L, Class K-L xxd Class L-L Interests), each of which will constitute a regular interest in REMIC I. All such REMIC I Regular Interests will be held by the Trustee as assets of REMIC II. The following table sets forth the designation and aggregate initial Certificate and Balance (or, with respect to the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 EC and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1AL-2 Certificates, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, EC Notional Balance and the Class L-2 Notional Balance, respectively) for each Class of Certificates comprising interests in the Lower-Tier REMIC formed herebyII. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Certificate Balance Class LT-R Interest, ownership of which shall be evidenced by the or Notional Balance Class A-1 $145,744,000.00 Class A-2 $210,167,000.00 Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.EC $512,101,998.44 (1) Class B $ 30,727,000.00 Class C $ 28,166,000.00 Class D $ 23,045,000.00 Class E $ 7,682,000.00 Class F $ 15,364,000.00 Class G $ 12,803,000.00 Class H $ 5,122,000.00 Class J $ 12,803,000.00 Class K $ 7,682,000.00 Class L-1 $ 12,796,998.44 Class L-2 $ 12,796,998.44 (1)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996 C2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan SL1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated as (i) the Class 1Series 2006-A-1A SL1, Asset Backed Pass-Through Certificates, dated as of January 1, 2006 (iithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, N.A. as master servicer (the “Master Servicer”) and securities administrator (the Class 1-A-1B Certificates“Securities Administrator”), Ocwen Loan Servicing, LLC as a servicer (iii“Ocwen” or a “Servicer”), GMAC Mortgage Corporation as a servicer (“GMAC” or a “Servicer” and together with Ocwen collectively, the “Servicers”) and HSBC Bank USA, National Association as trustee (the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) “Trustee”). The Purchaser will sell the Class A-R , Class M-1A, Class M-1B, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (collectively, the “Mezzanine Certificates, ”) to Deutsche Bank Securities Inc. (xi“DBSI”), pursuant to the Class A-R-II CertificatesAmended and Restated Underwriting Agreement, dated as of June 24, 1999, as amended and restated to and including January 25, 2006, between the Purchaser and DBSI, and the Terms Agreement, dated January 26, 2006 (xii) collectively, the Class P Certificates“Underwriting Agreement”), (xiii) between the Purchaser and DBSI. The Purchaser will sell the Class B-1 CertificatesCertificates to DBSI pursuant to the Purchase Agreement dated as of January 26, (xiv) 2006 between Purchaser and DBSI. Capitalized terms used but not defined herein shall have the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held meanings set forth in the Basis Risk Reserve Fund Pooling and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Servicing Agreement. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1-A-1A A‑1 Certificates, (ii) the Class 1-A-1B A‑2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A‑4 Certificates, (v) the Class 2-A-1C A‑5 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 B Certificates, ; (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 Certificates and R Certificates, (xix) the Class B-7 R‑CX Certificates and (xx) the Class R‑PX Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsMaster Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R‑1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 LT1-AA $2,204,999,911.24 Variable2 February, 2034 LT1-A1 $11,000,000.00 Variable2 February, 2034 LT1-A2 $1,100,000.00 Variable2 February, 2034 LT1-A3 $5,055,350.00 Variable2 February, 2034 LT1-A4 $970,000.00 Variable2 February, 2034 LT1-A5 $662,250.00 Variable2 February, 2034 LT1-M1 $618,750.00 Variable2 February, 2034 LT1-M2 $562,500.00 Variable2 February, 2034 LT1-M3 $337,500.00 Variable2 February, 2034 LT1-M4 $337,500.00 Variable2 February, 2034 LT1-M5 $281,250.00 Variable2 February, 2034 LT1-M6 $281,250.00 Variable2 February, 2034 LT1-M7 $281,250.00 Variable2 February, 2034 LT1-M8 $225,000.00 Variable2 February, 2034 LT1-M9 $281,250.00 Variable2 February, 2034 LT1-B $168,750.00 Variable2 February, 2034 LT1-ZZ $22,837,398.19 Variable2 February, 2034 LT1-1SUB $47,818.72 Variable2 February, 2034 LT1-1GRP $289,818.72 Variable2 February, 2034 LT1-2SUB $26,429.28 Variable2 February, 2034 LT1-2GRP $160,181.28 Variable2 February, 2034 LT1-XX $2,249,475,761.43 Variable2 February, 2034 LT1-P $100.00 Variable2 February, 2034 ________________________ 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Upper-Tier REMIC and month following the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property month of the Trust Fund other than maturity date for the assets held in Mortgage Loan with the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as a the “latest possible maturity date” for each REMIC regular interest1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Certs Ser 2004-1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Contract to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView mortgage pass-through certificates designated as Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-AR1, Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five (25) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-AR1, designated dated as of January 1, 2006 (i) the Class 1-A-1A Certificates“Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, N.A. as master servicer and securities administrator (ii) “Xxxxx Fargo”), GMAC Mortgage Corporation as servicer (the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Servicer”), the Class A-R-II CertificatesSeller as seller and HSBC Bank USA, National Association as trustee (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMICTrustee”). Each Certificate, other than The Purchaser will sell the Class I-A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1II-A-1BA-1, Class 2II-A-1AA-2, Class 2II-A-1BA-3, Class 2II-A-1CX, Class III-A, Class IV-A, Class V-A-1, Class V-A-2, Class B-1, Class B-2, Class B-3, Class B-4V-M-1, Class B-5V-M-2, Class B-6 V-M-3, Class V-M-4 and Class B-7 V-M-5 Certificates represent to Nomura Securities International, Inc. (the right “Underwriter”), pursuant to receive payments in respect the Underwriting Agreement, dated as of Basis Risk Shortfalls from January 1, 2006, between the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund Purchaser and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsUnderwriter, and the interests Terms Agreement, dated January 27, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and the Underwriter. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. Pursuant to the custodial agreement, dated as of January 1, 2006 (the “Custodial Agreement”), among the Trustee, the Servicer and Xxxxx Fargo as the custodian (the “Custodian”), the Trustee desires to have the Custodian take possession of the Mortgages and Mortgage Notes, along with certain other documents specified in the Custodial Agreement, as the custodian of the Trustee, in accordance with the terms and conditions thereof. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 10 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B Certificates, (v) the Class 2-A-1C 2A-1C Certificates, (vi) the Class X-1 B-1 Certificates, (vii) the Class X-2 B-2 Certificates, (viii) the Class PO-1 B-3 Certificates, (ix) the Class PO-2 B-4 Certificates, (x) the Class A-R B-5 Certificates, (xi), ) the Class A-R-II B-6 Certificates, (xii) the Class P B-7 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 Certificates, ES Certificates and (xviixvi) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and Trust, the Yield Maintenance AgreementsTrust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h). The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, as well as the sole residual interest in each of the Lower-Tier REMIC and the Class AMiddle-RTier REMIC. The Lower-II Certificate represents Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue three uncertificated interests, two of which shall be the “Lower-Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Middle-Tier REMIC will hold as its assets all of the Lower-Tier Regular Interests and shall issue 15 uncertificated interests, 14 of which shall be the “Middle-Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Middle-Tier REMIC. The Upper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC shall hold as assets all property of The following table sets forth (or describes) the Trust Fund other than the assets held in the Basis Risk Reserve Funddesignation, the Yield Maintenance Account, the Yield Maintenance Agreementsinterest rate, and the interests in the initial principal balance of each Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets Regular Interest and the uncertificated Lower-Tier REMIC Interests, other than the Class LTMT-R Interest, ownership of which shall be evidenced by the Class A: Designation Interest Rate Initial Principal Balance MT-RInitial (1) $1,688,875,880.32 MT-II Certificate. Each such LowerAdditional (1) $ 34,249,553.61 MT-Tier Interest is hereby designated as a REMIC regular interest.R (1) (1)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-10)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty six classes of certificates, designated as (i) the Class 1-A-1A A-1-1 Certificates, (ii) the Class 1-A-1B A-1-2 Certificates, (iii) the Class 21-A-1A A-2A Certificates, (iv) the Class 21-A-1B A-2B Certificates, (v) the Class 21-A-1C Certificates, (viA-2C Certificates,(vi) the Class X-1 2-A-1 Certificates, (vii) the Class X-2 2-A-2 Certificates, (viii) the Class PO-1 1-M-1 Certificates, (ix) the Class PO-2 1-M-2 Certificates, (x) the Class A1-R M-3 Certificates, (xi), ) the Class A1-R-II M-4 Certificates, (xii) the Class P 1-M-5 Certificates, (xiii) the Class B-1 1-M-6 Certificates, (xiv) the Class B-2 1-M-7 Certificates, (xvx) the Class B-3 1-M-8 Certificates, (xvixi) the Class B-4 2-M-1 Certificates, (xviixii) the Class B-5 2-M-2 Certificates, (xviiixiii) the Class B-6 Certificates and 2-M-3 Certificates, (xix) the Class B-7 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificats, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive other than the Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the assets held in Supplemental Interest Trust, the Basis Risk Reserve Fund and the Yield Maintenance Swap Account and the Yield Maintenance AgreementsGroup 1-A-2 Interest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-Tier REMIC Interests, other than the Class LTA-1 Variable(2) $ 130,047,000.00 May 2036 1-R Interest, ownership of which shall be evidenced by the Class AA-1-ROC Variable(2) $ 9,809,572.11 May 2036 1-II Certificate. Each such LowerA-1-Tier Interest is hereby designated as a REMIC regular interest.P Variable(2) $ 100.00 May 2036 1-1-A Variable(2) $ 1,219,478.33 May 2036 1-1-B Variable(2) $ 1,219,478.33 May 2036 1-2-A Variable(2) $ 1,689,392.90 May 2036 1-2-B Variable(2) $ 1,689,392.90 May 2036 1-3-A Variable(2) $ 2,161,020.85 May 2036 1-3-B Variable(2) $ 2,161,020.85 May 2036 1-4-A Variable(2) $ 2,631,457.93 May 2036 1-4-B Variable(2) $ 2,631,457.93 May 2036 1-5-A Variable(2) $ 3,097,708.88 May 2036 1-5-B Variable(2) $ 3,097,708.88 May 2036 1-6-A Variable(2) $ 3,556,747.08 May 2036 1-6-B Variable(2) $ 3,556,747.08 May 2036 1-7-A Variable(2) $ 4,005,464.50 May 2036 1-7-B Variable(2) $ 4,005,464.50 May 2036 1-8-A Variable(2) $ 4,440,538.91 May 2036 1-8-B Variable(2) $ 4,440,538.91 May 2036 1-9-A Variable(2) $ 4,859,095.41 May 2036 1-9-B Variable(2) $ 4,859,095.41 May 2036 1-10-A Variable(2) $ 5,137,294.00 May 2036 1-10-B Variable(2) $ 5,137,294.00 May 2036 1-11-A Variable(2) $ 5,358,136.54 May 2036 1-11-B Variable(2) $ 5,358,136.54 May 2036 1-12-A Variable(2) $ 5,425,595.41 May 2036 1-12-B Variable(2) $ 5,425,595.41 May 2036 1-13-A Variable(2) $ 5,261,614.90 May 2036 1-13-B Variable(2) $ 5,261,614.90 May 2036 1-14-A Variable(2) $ 5,102,598.27 May 2036 1-14-B Variable(2) $ 5,102,598.27 May 2036 1-15-A Variable(2) $ 4,948,414.66 May 2036 1-15-B Variable(2) $ 4,948,414.66 May 2036 1-16-A Variable(2) $ 4,798,797.43 May 2036 1-16-B Variable(2) $ 4,798,797.43 May 2036 1-17-A Variable(2) $ 4,653,731.96 May 2036 1-17-B Variable(2) $ 4,653,731.96 May 2036 1-18-A Variable(2) $ 4,512,951.51 May 2036 1-18-B Variable(2) $ 4,512,951.51 May 2036 1-19-A Variable(2) $ 4,376,430.06 May 2036 1-19-B Variable(2) $ 4,376,430.06 May 2036 1-20-A Variable(2) $ 4,244,140.25 May 2036 1-20-B Variable(2) $ 4,244,140.25 May 2036 1-21-A Variable(2) $ 19,707,148.45 May 2036 1-21-B Variable(2) $ 19,707,148.45 May 2036 1-22-A Variable(2) $ 7,767,674.53 May 2036 1-22-B Variable(2) $ 7,767,674.53 May 2036 1-23-A Variable(2) $ 7,531,609.12 May 2036 1-23-B Variable(2) $ 7,531,609.12 May 2036 1-24-A Variable(2) $ 3,050,425.72 May 2036 1-24-B Variable(2) $ 3,050,425.72 May 2036 1-25-A Variable(2) $ 2,958,088.08 May 2036 1-25-B Variable(2) $ 2,958,088.08 May 2036 1-26-A Variable(2) $ 2,868,424.69 May 2036 1-26-B Variable(2) $ 2,868,424.69 May 2036 1-27-A Variable(2) $ 2,781,616.07 May 2036 1-27-B Variable(2) $ 2,781,616.07 May 2036 1-28-A Variable(2) $ 2,697,296.69 May 2036 1-28-B Variable(2) $ 2,697,296.69 May 2036 1-29-A Variable(2) $ 2,615,584.21 May 2036 1-29-B Variable(2) $ 2,615,584.21 May 2036 1-30-A Variable(2) $ 2,536,331.10 May 2036 1-30-B Variable(2) $ 2,536,331.10 May 2036 1-31-A Variable(2) $ 2,459,422.13 May 2036 1-31-B Variable(2) $ 2,459,422.13 May 2036 1-32-A Variable(2) $ 2,384,937.54 May 2036 1-32-B Variable(2) $ 2,384,937.54 May 2036 1-33-A Variable(2) $ 4,266,259.46 May 2036 1-33-B Variable(2) $ 4,266,259.46 May 2036 1-34-A Variable(2) $ 3,159,440.38 May 2036 1-34-B Variable(2) $ 3,159,440.38 May 2036 1-35-A Variable(2) $ 5,017,115.56 May 2036 1-35-B Variable(2) $ 5,017,115.56 May 2036 1-36-A Variable(2) $ 36,172,180.59 May 2036 1-36-B Variable(2) $ 36,172,180.59 May 2036 1-37-A Variable(2) $ 827,402.50 May 2036 1-37-B Variable(2) $ 827,402.50 May 2036 1-38-A Variable(2) $ 802,330.00 May 2036 1-38-B Variable(2) $ 802,330.00 May 2036 1-39-A Variable(2) $ 777,930.00 May 2036 1-39-B Variable(2) $ 777,930.00 May 2036 1-40-A Variable(2) $ 754,337.50 May 2036 1-40-B Variable(2) $ 754,337.50 May 2036 1-41-A Variable(2) $ 731,402.50 May 2036 1-41-B Variable(2) $ 731,402.50 May 2036 1-42-A Variable(2) $ 709,172.50 May 2036 1-42-B Variable(2) $ 709,172.50 May 2036 1-43-A Variable(2) $ 687,667.50 May 2036 1-43-B Variable(2) $ 687,667.50 May 2036 1-44-A Variable(2) $ 666,715.00 May 2036 1-44-B Variable(2) $ 666,715.00 May 2036 1-45-A Variable(2) $ 646,492.50 May 2036 1-45-B Variable(2) $ 646,492.50 May 2036 1-46-A Variable(2) $ 626,802.50 May 2036 1-46-B Variable(2) $ 626,802.50 May 2036 1-47-A Variable(2) $ 607,775.00 May 2036 1-47-B Variable(2) $ 607,775.00 May 2036 1-48-A Variable(2) $ 589,260.00 May 2036 1-48-B Variable(2) $ 589,260.00 May 2036 1-49-A Variable(2) $ 571,322.50 May 2036 1-49-B Variable(2) $ 571,322.50 May 2036 1-50-A Variable(2) $ 553,955.00 May 2036 1-50-B Variable(2) $ 553,955.00 May 2036 1-51-A Variable(2) $ 537,065.00 May 2036 1-51-B Variable(2) $ 537,065.00 May 2036 1-52-A Variable(2) $ 520,720.00 May 2036 1-52-B Variable(2) $ 520,720.00 May 2036 1-53-A Variable(2) $ 504,870.00 May 2036 1-53-B Variable(2) $ 504,870.00 May 2036 1-54-A Variable(2) $ 489,502.50 May 2036 1-54-B Variable(2) $ 489,502.50 May 2036 1-55-A Variable(2) $ 474,592.50 May 2036 1-55-B Variable(2) $ 474,592.50 May 2036 1-56-A Variable(2) $ 460,107.50 May 2036 1-56-B Variable(2) $ 460,107.50 May 2036 1-57-A Variable(2) $ 3,682,367.50 May 2036 1-57-B Variable(2) $ 3,682,367.50 May 2036 1-58-A Variable(2) $ 1,719,787.50 May 2036 1-58-B Variable(2) $ 1,719,787.50 May 2036 1-59-A Variable(2) $ 8,139,465.00 May 2036 1-59-B Variable(2) $ 8,139,465.00 May 2036 1-60-A Variable(2) $ 954,020.00 May 2036 1-60-B Variable(2) $ 954,020.00 May 2036 1-A-2-OC Variable(2) $ 86,764,971.66 May 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund and Master Servicer Prepayment Charge Payment Amounts, the Yield Maintenance Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate(2) Initial Uncertificated Balance Latest Possible Maturity Date(1) I-1-Tier REMIC Interests, other than the Class LTA Variable $ 750,000,000.00 June 2036 I-1-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.B Variable $ 750,000,000.00 June 2036
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust Series 2006-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 128,208,389.97 October 2036 I-1-II Certificate. Each such LowerB Variable (2) $ 19,951,661.31 October 2036 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 24,325,920.95 October 2036 I-4-B Variable (2) $ 26,261,445.43 October 2036 I-5-B Variable (2) $ 28,021,892.55 October 2036 I-8-B Variable (2) $ 24,824,168.13 October 2036 I-9-B Variable (2) $ 23,825,036.63 October 2036 I-10-B Variable (2) $ 22,866,616.78 October 2036 I-11-B Variable (2) $ 21,947,233.15 October 2036 I-12-B Variable (2) $ 21,065,279.75 October 2036 I-13-B Variable (2) $ 20,221,276.55 October 2036 I-14-B Variable (2) $ 19,409,275.96 October 2036 I-15-B Variable (2) $ 18,630,325.60 October 2036 I-16-B Variable (2) $ 17,883,063.14 October 2036 I-17-B Variable (2) $ 282,407,903.40 October 2036 I-18-A Variable (2) $ 9,581,404.50 October 2036 I-18-B Variable (2) $ 9,581,404.50 October 2036 I-19-B Variable (2) $ 6,969,477.48 October 2036 I-20-B Variable (2) $ 6,427,898.80 October 2036 I-21-A Variable (2) $ 4,598,823.68 October 2036 I-21-B Variable (2) $ 4,598,823.68 October 2036 I-23-B Variable (2) $ 4,134,380.65 October 2036 I-24-B Variable (2) $ 3,986,973.64 October 2036 I-25-B Variable (2) $ 3,853,558.66 October 2036 I-26-B Variable (2) $ 3,708,176.85 October 2036 I-27-A Variable (2) $ 3,576,809.30 October 2036 I-27-B Variable (2) $ 3,576,809.30 October 2036 I-28-A Variable (2) $ 3,450,356.95 October 2036 I-28-B Variable (2) $ 3,450,356.95 October 2036 I-29-A Variable (2) $ 12,777,877.05 October 2036 I-29-B Variable (2) $ 12,777,877.05 October 2036 I-30-B Variable (2) $ 3,275,574.07 October 2036 I-33-B Variable (2) $ 2,437,648.55 October 2036 I-34-A Variable (2) $ 2,360,268.74 October 2036 I-34-B Variable (2) $ 2,360,268.74 October 2036 I-35-A Variable (2) $ 2,285,369.37 October 2036 I-35-B Variable (2) $ 2,285,369.37 October 2036 I-36-A Variable (2) $ 2,212,869.41 October 2036 I-36-B Variable (2) $ 2,212,869.41 October 2036 I-37-B Variable (2) $ 2,142,690.54 October 2036 I-38-A Variable (2) $ 2,074,757.10 October 2036 I-38-B Variable (2) $ 2,074,757.10 October 2036 I-39-A Variable (2) $ 2,008,995.96 October 2036 I-39-B Variable (2) $ 2,008,995.96 October 2036 I-40-A Variable (2) $ 1,945,336.43 October 2036 I-40-B Variable (2) $ 1,945,336.43 October 2036 I-41-A Variable (2) $ 1,883,710.22 October 2036 I-41-B Variable (2) $ 1,883,710.22 October 2036 I-42-A Variable (2) $ 1,824,051.29 October 2036 I-42-B Variable (2) $ 1,824,051.29 October 2036 I-43-A Variable (2) $ 1,766,295.82 October 2036 I-43-B Variable (2) $ 1,766,295.82 October 2036 I-44-A Variable (2) $ 1,710,382.12 October 2036 I-44-B Variable (2) $ 1,710,382.12 October 2036 I-45-A Variable (2) $ 1,656,250.55 October 2036 I-45-B Variable (2) $ 1,656,250.55 October 2036 I-47-A Variable (2) $ 1,553,105.09 October 2036 I-47-B Variable (2) $ 1,553,105.09 October 2036 I-48-A Variable (2) $ 1,503,981.56 October 2036 I-48-B Variable (2) $ 1,503,981.56 October 2036 I-49-A Variable (2) $ 1,456,420.76 October 2036 I-49-B Variable (2) $ 1,456,420.76 October 2036 I-50-A Variable (2) $ 1,410,372.29 October 2036 I-50-B Variable (2) $ 1,410,372.29 October 2036 I-51-A Variable (2) $ 1,365,787.44 October 2036 I-51-B Variable (2) $ 1,365,787.44 October 2036 I-52-A Variable (2) $ 1,322,619.08 October 2036 I-52-B Variable (2) $ 1,322,619.08 October 2036 I-53-B Variable (2) $ 1,633,122.41 October 2036 I-54-B Variable (2) $ 1,344,594.11 October 2036 I-55-A Variable (2) $ 37,506,630.05 October 2036 I-55-B Variable (2) $ 37,506,630.05 October 2036 P Variable (2) $ 100.00 October 2036 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Luminent Mortgage Loan Trust 20052006-5 5’s Mortgage Loan Pass-Through Certificates, Series 20052006-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fourteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1C Certificates, (iv) the Class 2-A-1B X Certificates, (v) the Class 2-A-1C PO Certificates, (vi) the Class X-1 R Certificates, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II B-5 Certificates, (xii) the Class P B-6 Certificates, (xiii) the Class B-1 Certificates, ES Certificates and (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 I Certificates. As provided herein, the Trustee an election shall elect be made that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Class ES Distributable Amount, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) 5.07. The owners of the Class 1-A-1A, X Certificates beneficially own the Basis Risk Reserve Fund. The Regular Certificates (other than the Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates X Certificates) represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Final Maturity Reserve Account. The owners of the Class X-1 and Class X-2 I Certificates beneficially own the Basis Risk Final Maturity Reserve Fund Account and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents ownership of the sole class of residual interest in each of the UpperLower-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the LowerUpper-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed herebyInterests. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT-A1A (1) $ 137,373,500.00 Class A1A, Class R LT-A1B (1) $ 57,238,500.00 Class A1B LT-A1C (1) $ 34,343,000.00 Class A1C LT-Q (1) $ 244,218,850.35 N/A LT-Z (1) $ 5,087,890.63 N/A LT-Y (1) $ 5,087,890.63 N/A LT-B1 (1) $ 10,684,500.00 Class B-1 LT-B2 (1) $ 4,833,500.00 Class B-2 LT-B3 (1) $ 2,925,500.00 Class B-3 LT-B4 (1) $ 3,307,000.00 Class B-4 LT-B5 (1) $ 1,908,000.00 Class B-5 LT-B6 (1) $ 1,781,031.61 Class B-6 LT-IO (2) (3) I LT-R (4) (4) N/A
Appears in 1 contract
PRELIMINARY STATEMENT. Through Pursuant to this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from the Seller pursuant to the Mortgage Loan Purchase Agreement (as defined below). On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust and receive in consideration therefor the Certificates evidencing the entire beneficial ownership of the Trust. The Depositor intends to sell and deliver to the Certificates Seller or its designee the Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen fourteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1-A-1B 1A-2 Certificates, (iii) the Class 2-A-1A 2A-1 Certificates, (iv) the Class 2-A-1B 2A-2 Certificates, (v) the Class 2-A-1C 3A-1 Certificates, (vi) the Class X-1 3A-2 Certificates, (vii) the Class X-2 CertificatesA-R Certificate, (viii) the Class PO-1 B-1 Certificates, (ix) the Class PO-2 B-2 Certificates, (x) the Class A-R B-3 Certificates, (xi), ) the Class A-R-II B-4 Certificates, (xii) the Class P B-5 Certificates, (xiii) the Class B-1 Certificates, B-6 Certificates and (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 ES Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Additional Collateral and the Yield Maintenance Account Class ES Distributable Amount, collectively the “Excluded Trust Assets”) is comprised of two REMICs in a tiered REMIC structure - the lower tier REMIC (the “Lower Tier REMIC”) and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits upper tier REMIC (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each CertificateThe Lower Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Assets) and will issue interests (the “Lower Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower Tier REMIC. The Trustee will hold the Lower Tier Regular Interests as assets of the Upper Tier REMIC. The Certificates, other than the Class A-R Certificate Certificate, will represent “regular interests” in the Upper Tier REMIC, and the Class A-R-II R Certificate, shall will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interest” in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than well as ownership of the Class LT-R Interest. For purposes of the REMIC Provisions, ownership of which shall be evidenced by the Class A-R-II Certificatestartup day is the Closing Date. Each such Lower-Tier Interest is hereby designated as a All REMIC regular interestand residual interests created hereby will be retired on or before the Latest Possible Maturity Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C Certificates, M-1 Certificates (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 M-11 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. REMIC I As provided herein, the Trustee shall elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Rate Carryover Reserve Fund Account, the Swap Account, the Serivicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest shall be the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 15,563,686.46 April 25, 2036 I-1-II Certificate. Each such LowerB Variable(2) $ 10,360,721.25 April 25, 2036 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 15,524,856.25 April 25, 2036 I-4-B Variable(2) $ 18,062,836.25 April 25, 2036 I-7-B Variable(2) $ 25,195,016.25 April 25, 2036 I-8-B Variable(2) $ 27,288,702.50 April 25, 2036 I-9-B Variable(2) $ 28,688,516.25 April 25, 2036 I-11-B Variable(2) $ 26,673,445.00 April 25, 2036 I-14-B Variable(2) $ 23,101,442.50 April 25, 2036 I-15-B Variable(2) $ 22,022,096.25 April 25, 2036 I-16-A Variable(2) $ 20,993,996.25 April 25, 2036 I-16-B Variable(2) $ 20,993,996.25 April 25, 2036 I-18-B Variable(2) $ 19,090,637.50 April 25, 2036 I-19-B Variable(2) $ 18,520,933.75 April 25, 2036 I-21-B Variable(2) $ 44,804,808.75 April 25, 2036 I-25-B Variable(2) $ 14,073,347.50 April 25, 2036 I-26-B Variable(2) $ 9,585,573.75 April 25, 2036 I-27-A Variable(2) $ 9,064,120.00 April 25, 2036 I-27-B Variable(2) $ 9,064,120.00 April 25, 2036 I-28-B Variable(2) $ 8,572,308.75 April 25, 2036 I-29-B Variable(2) $ 8,108,280.00 April 25, 2036 I-30-B Variable(2) $ 7,671,021.25 April 25, 2036 I-32-B Variable(2) $ 6,869,532.50 April 25, 2036 I-33-B Variable(2) $ 6,502,482.50 April 25, 2036 I-38-B Variable(2) $ 4,954,121.25 April 25, 2036 I-39-A Variable(2) $ 4,694,793.75 April 25, 2036 I-39-B Variable(2) $ 4,694,793.75 April 25, 2036 I-40-B Variable(2) $ 4,449,905.00 April 25, 2036 I-41-B Variable(2) $ 4,218,630.00 April 25, 2036 I-42-B Variable(2) $ 4,000,225.00 April 25, 2036 I-43-B Variable(2) $ 81,529,505.00 April 25, 2036 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan ASAP1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-ASAP1, Asset Backed Pass-Through Certificates, dated as of January 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, Xxxxx Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Saxon Mortgage Services, Inc. as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi)A-1 Certificates and, the Class A-R-II CertificatesA-2A, Class A-2B, Class A-2C and Class A-2D Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the “Upper-Tier REMICClass A-2 Certificates”). Each Certificate, other than the Class A-R Certificate ) and the Class A-R-II CertificateX-0, shall represent ownership Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10 and Class M-11 Certificates (collectively, the “Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“DBSI”), pursuant to the Second Amended and Restated Underwriting Agreement, dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated January 27, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2III-A-1A A-1 Certificates, (iv) the Class 2III-A-1B A-2 Certificates, (v) the Class 2III-A-1C A-3 Certificates, (vi) the Class X-1 III-A-4 Certificates, (vii) the Class X-2 M-1 Certificates, (viii) the Class PO-1 M-2 Certificates, (ix) the Class PO-2 M-3 Certificates, (x) the Class A-R M-4 Certificates, (xi), ) the Class A-R-II M-5 Certificates, (xii) the Class P M-6 Certificates, (xiii) the Class B-1 M-7 Certificates, (xiv) the Class B-2 M-8 Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 M-10 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates and (xxi) the Class X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $248,047,653.90 February 25, 2037 I-1-II Certificate. Each such LowerB Variable (2) $ 17,276,686.25 February 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 16,629,331.25 February 25, 2037 I-5-B Variable (2) $ 14,987,502.50 February 25, 2037 I-8-B Variable (2) $ 14,181,662.50 February 25, 2037 I-11-B Variable (2) $113,297,597.50 February 25, 2037 I-13-B Variable (2) $ 7,457,386.25 February 25, 2037 I-15-B Variable (2) $ 4,538,531.25 February 25, 2037 I-19-B Variable (2) $ 2,749,255.00 February 25, 2037 I-21-B Variable (2) $ 2,729,768.75 February 25, 2037 I-24-B Variable (2) $ 3,128,412.50 February 25, 2037 I-25-B Variable (2) $ 2,039,992.50 February 25, 2037 I-26-B Variable (2) $ 1,962,206.25 February 25, 2037 I-27-B Variable (2) $ 1,887,561.25 February 25, 2037 I-29-B Variable (2) $ 1,747,165.00 February 25, 2037 I-30-B Variable (2) $ 1,681,166.25 February 25, 2037 I-38-B Variable (2) $ 1,239,547.50 February 25, 2037 I-39-B Variable (2) $ 1,193,711.25 February 25, 2037 I-40-B Variable (2) $ 1,149,673.75 February 25, 2037 I-41-B Variable (2) $ 1,107,361.25 February 25, 2037 I-42-A Variable (2) $ 1,066,702.50 February 25, 2037 I-42-B Variable (2) $ 1,066,702.50 February 25, 2037 I-43-B Variable (2) $ 1,027,631.25 February 25, 2037 I-44-A Variable (2) $ 990,077.50 February 25, 2037 I-44-B Variable (2) $ 990,077.50 February 25, 2037 I-45-A Variable (2) $ 974,156.25 February 25, 2037 I-45-B Variable (2) $ 974,156.25 February 25, 2037 I-47-B Variable (2) $ 3,458,390.00 February 25, 2037 I-48-B Variable (2) $ 3,019,526.25 February 25, 2037 I-49-A Variable (2) $ 585,267.50 February 25, 2037 I-49-B Variable (2) $ 585,267.50 February 25, 2037 I-50-A Variable (2) $ 566,808.75 February 25, 2037 I-50-B Variable (2) $ 566,808.75 February 25, 2037 I-51-B Variable (2) $ 17,964,221.25 February 25, 2037 P Variable (2) $ 100.00 February 25, 2037 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Wmc1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C A-5 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 Certificates, M-2 Certificates (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 M-11 Certificates, (xvii) the Class B-5 M-12 Certificates, (xviii) the xviii)the Class B-6 Certificates and C Certificates, (xix) the Class B-7 P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. REMIC I As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Rate Carryover Reserve Fund Account, the Swap Account, the Serivicer Prepayment Charge Payment Amounts and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) I Variable(2) $ 76.56 October 25, the Yield Maintenance Account2035 I-1-A Variable(2) $ 5,899,966.25 October 25, the Yield Maintenance Agreements2035 I-1-B Variable(2) $ 5,899,966.25 October 25, and the interests in the Lower2035 I-2-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerA Variable(2) $ 7,294,577.50 October 25, 2035 I-2-Tier REMIC InterestsB Variable(2) $ 7,294,577.50 October 25, other than the Class LT2035 I-3-R InterestA Variable(2) $ 8,681,420.00 October 25, ownership of which shall be evidenced by the Class A2035 I-3-RB Variable(2) $ 8,681,420.00 October 25, 2035 I-4-II Certificate. Each such LowerB Variable(2) $ 10,053,053.75 October 25, 2035 I-5-Tier Interest is hereby designated as a REMIC regular interest.A Variable(2) $ 11,457,471.25 October 25, 2035 I-5-B Variable(2) $ 11,457,471.25 October 25, 2035 I-6-A Variable(2) $ 14,545,902.50 October 25, 2035 I-6-B Variable(2) $ 14,545,902.50 October 25, 2035 I-7-A Variable(2) $ 14,266,062.50 October 25, 2035 I-7-B Variable(2) $ 14,266,062.50 October 25, 2035 I-8-A Variable(2) $ 15,189,868.75 October 25, 2035 I-8-B Variable(2) $ 15,189,868.75 October 25, 2035 I-9-A Variable(2) $ 16,367,808.75 October 25, 2035 I-9-B Variable(2) $ 16,367,808.75 October 25, 2035 I-10-A Variable(2) $ 17,485,441.25 October 25, 2035 I-10-B Variable(2) $ 17,485,441.25 October 25, 2035 I-11-A Variable(2) $ 18,535,678.75 October 25, 2035 I-11-B Variable(2) $ 18,535,678.75 October 25, 2035 I-12-A Variable(2) $ 19,185,408.75 October 25, 2035 I-12-B Variable(2) $ 19,185,408.75 October 25, 2035 I-13-A Variable(2) $ 19,719,388.75 October 25, 2035 I-13-B Variable(2) $ 19,719,388.75 October 25, 2035 I-14-A Variable(2) $ 20,194,057.50 October 25, 2035 I-14-B Variable(2) $ 20,194,057.50 October 25, 2035 I-15-A Variable(2) $ 20,605,445.00 October 25, 2035 I-15-B Variable(2) $ 20,605,445.00 October 25, 2035 I-16-A Variable(2) $ 20,950,032.50 October 25, 2035 I-16-B Variable(2) $ 20,950,032.50 October 25, 2035 I-17-A Variable(2) $ 21,224,780.00 October 25, 2035 I-17-B Variable(2) $ 21,224,780.00 October 25, 2035 I-18-A Variable(2) $ 21,427,178.75 October 25, 2035 I-18-B Variable(2) $ 21,427,178.75 October 25, 2035 I-19-A Variable(2) $ 21,555,277.50 October 25, 2035 I-19-B Variable(2) $ 21,555,277.50 October 25, 2035 I-20-A Variable(2) $ 21,607,720.00 October 25, 2035 I-20-B Variable(2) $ 21,607,720.00 October 25, 2035 I-21-A Variable(2) $ 21,583,763.75 October 25, 2035 I-21-B Variable(2) $ 21,583,763.75 October 25, 2035 I-22-B Variable(2) $ 21,482,870.00 October 25, 2035 I-23-A Variable(2) $ 21,223,735.00 October 25, 2035 I-23-B Variable(2) $ 21,223,735.00 October 25, 2035 I-24-A Variable(2) $ 234,335,435.00 October 25, 2035 I-24-B Variable(2) $ 234,335,435.00 October 25, 2035 I-25-A Variable(2) $ 7,141,145.00 October 25, 2035 I-25-B Variable(2) $ 7,141,145.00 October 25, 2035 I-26-A Variable(2) $ 5,560,895.00 October 25, 2035 I-26-B Variable(2) $ 5,560,895.00 October 25, 2035 I-27-A Variable(2) $ 5,314,327.50 October 25, 2035 I-27-B Variable(2) $ 5,314,327.50 October 25, 2035 I-28-A Variable(2) $ 5,079,975.00 October 25, 2035 I-28-B Variable(2) $ 5,079,975.00 October 25, 2035 I-29-A Variable(2) $ 4,857,177.50 October 25, 2035 I-29-B Variable(2) $ 4,857,177.50 October 25, 2035 I-30-A Variable(2) $ 4,645,316.25 October 25, 2035 I-30-B Variable(2) $ 4,645,316.25 October 25, 2035 I-31-A Variable(2) $ 4,443,805.00 October 25, 2035 I-31-B Variable(2) $ 4,443,805.00 October 25, 2035 I-32-B Variable(2) $ 4,252,090.00 October 25, 2035 I-33-A Variable(2) $ 4,069,652.50 October 25, 2035 I-33-B Variable(2) $ 4,069,652.50 October 25, 2035 I-34-A Variable(2) $ 3,895,997.50 October 25, 2035 I-34-B Variable(2) $ 3,895,997.50 October 25, 2035 I-35-A Variable(2) $ 3,745,115.00 October 25, 2035 I-35-B Variable(2) $ 3,745,115.00 October 25, 2035 I-36-A Variable(2) $ 7,420,553.75 October 25, 2035 I-36-B Variable(2) $ 7,420,553.75 October 25, 2035 I-37-A Variable(2) $ 3,887,590.00 October 25, 2035 I-37-B Variable(2) $ 3,887,590.00 October 25, 2035 I-38-A Variable(2) $ 3,017,496.25 October 25, 2035 I-38-B Variable(2) $ 3,017,496.25 October 25, 2035 I-39-A Variable(2) $ 2,897,251.25 October 25, 2035 I-39-B Variable(2) $ 2,897,251.25 October 25, 2035 I-40-A Variable(2) $ 2,782,400.00 October 25, 2035 I-40-B Variable(2) $ 2,782,400.00 October 25, 2035 I-41-A Variable(2) $ 2,672,673.75 October 25, 2035 I-41-B Variable(2) $ 2,672,673.75 October 25, 2035 I-42-A Variable(2) $ 2,567,816.25 October 25, 2035 I-42-B Variable(2) $ 2,567,816.25 October 25, 2035 I-43-A Variable(2) $ 2,467,585.00 October 25, 2035 I-43-B Variable(2) $ 2,467,585.00 October 25, 2035 I-44-A Variable(2) $ 2,371,753.75 October 25, 2035 I-44-B Variable(2) $ 2,371,753.75 October 25, 2035 I-45-A Variable(2) $ 2,280,105.00 October 25, 2035 I-45-B Variable(2) $ 2,280,105.00 October 25, 2035 I-46-B Variable(2) $ 2,192,432.50 October 25, 2035 I-47-A Variable(2) $ 2,108,546.25 October 25, 2035 I-47-B Variable(2) $ 2,108,546.25 October 25, 2035 I-48-A Variable(2) $ 2,028,258.75 October 25, 2035 I-48-B Variable(2) $ 2,028,258.75 October 25, 2035 I-49-A Variable(2) $ 1,951,398.75 October 25, 2035 I-49-B Variable(2) $ 1,951,398.75 October 25, 2035 I-50-A Variable(2) $ 1,877,801.25 October 25, 2035 I-50-B Variable(2) $ 1,877,801.25 October 25, 2035 I-51-A Variable(2) $ 1,807,311.25 October 25, 2035 I-51-B Variable(2) $ 1,807,311.25 October 25, 2035 I-52-A Variable(2) $ 1,739,781.25 October 25, 2035 I-52-B Variable(2) $ 1,739,781.25 October 25, 2035 I-53-A Variable(2) $ 1,675,067.50 October 25, 2035 I-53-B Variable(2) $ 1,675,067.50 October 25, 2035 I-54-A Variable(2) $ 1,613,043.75 October 25, 2035 I-54-B Variable(2) $ 1,613,043.75 October 25, 2035 I-55-A Variable(2) $ 1,553,578.75 October 25, 2035 I-55-B Variable(2) $ 1,553,578.75 October 25, 2035 I-56-A Variable(2) $ 44,036,705.00 October 25, 2035 I-56-B Variable(2) $ 44,036,705.00 October 25, 2035 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 57,499,713.55 April 25, 2037 II Variable (2) $ 7,246,037.50 April 25, 2037 I-2-II Certificate. Each such LowerB Variable (2) $ 5,754,871.25 April 25, 2037 I-4-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 7,855,693.75 April 25, 2037 I-5-B Variable (2) $ 8,867,846.25 April 25, 2037 I-6-B Variable (2) $ 9,850,336.25 April 25, 2037 I-9-B Variable (2) $ 12,024,187.50 April 25, 2037 I-11-B Variable (2) $ 11,518,181.25 April 25, 2037 I-14-B Variable (2) $ 10,555,516.25 April 25, 2037 I-15-A Variable (2) $ 10,258,031.25 April 25, 2037 I-15-B Variable (2) $ 10,258,031.25 April 25, 2037 I-16-B Variable (2) $ 10,063,662.50 April 25, 2037 I-17-B Variable (2) $ 9,785,086.25 April 25, 2037 I-18-B Variable (2) $ 9,610,552.50 April 25, 2037 I-21-B Variable (2) $ 17,945,296.25 April 25, 2037 I-27-B Variable (2) $ 7,099,995.00 April 25, 2037 I-28-B Variable (2) $ 6,859,652.50 April 25, 2037 I-34-B Variable (2) $ 5,581,920.00 April 25, 2037 I-35-B Variable (2) $ 5,394,015.00 April 25, 2037 I-38-B Variable (2) $ 4,024,483.75 April 25, 2037 I-39-B Variable (2) $ 3,889,720.00 April 25, 2037 I-40-B Variable (2) $ 3,759,582.50 April 25, 2037 I-41-B Variable (2) $ 3,633,906.25 April 25, 2037 I-42-A Variable (2) $ 3,512,536.25 April 25, 2037 I-42-B Variable (2) $ 3,512,536.25 April 25, 2037 I-43-B Variable (2) $ 3,395,320.00 April 25, 2037 I-44-B Variable (2) $ 3,282,118.75 April 25, 2037 I-45-B Variable (2) $ 3,172,788.75 April 25, 2037 I-47-B Variable (2) $ 2,965,216.25 April 25, 2037 I-48-A Variable (2) $ 2,866,717.50 April 25, 2037 I-48-B Variable (2) $ 2,866,717.50 April 25, 2037 I-49-A Variable (2) $ 2,771,581.25 April 25, 2037 I-49-B Variable (2) $ 2,771,581.25 April 25, 2037 I-50-A Variable (2) $ 2,679,690.00 April 25, 2037 I-50-B Variable (2) $ 2,679,690.00 April 25, 2037 I-52-B Variable (2) $ 2,505,265.00 April 25, 2037 I-54-B Variable (2) $ 2,343,252.50 April 25, 2037 I-55-A Variable (2) $ 2,267,335.00 April 25, 2037 I-55-B Variable (2) $ 2,267,335.00 April 25, 2037 I-57-B Variable (2) $ 2,124,143.75 April 25, 2037 I-58-B Variable (2) $ 2,054,146.25 April 25, 2037 I-59-B Variable (2) $ 1,986,526.25 April 25, 2037 I-61-B Variable (2) $ 1,858,027.50 April 25, 2037 I-62-B Variable (2) $ 1,796,981.25 April 25, 2037 I-63-A Variable (2) $ 1,738,067.50 April 25, 2037 I-63-B Variable (2) $ 1,738,067.50 April 25, 2037 I-66-B Variable (2) $ 1,573,098.75 April 25, 2037 I-68-B Variable (2) $ 1,472,182.50 April 25, 2037 I-70-B Variable (2) $ 1,377,987.50 April 25, 2037 I-71-A Variable (2) $ 43,378,393.75 April 25, 2037 I-71-B Variable (2) $ 43,378,393.75 April 25, 2037 __________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 12 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A1 Certificates, (iii) the Class 2-A-1A 2A-1A2 Certificates, (iv) the Class 2-A-1B 2A-1A3 Certificates, (v) the Class 2-A-1C 2A-1B Certificates, (vi) the Class X-1 2A-2A Certificates, (vii) the Class X-2 2A-2B Certificates, (viii) the Class PO-1 2A-2C Certificates, (ix) the Class PO-2 B-1 Certificates, (x) the Class A-R B-2 Certificates, (xi), ) the Class A-R-II B-3 Certificates, (xii) the Class P B-4 Certificates, (xiii) the Class B-1 B-5 Certificates, (xiv) the Class B-2 B-6 Certificates, (xv) the Class B-3 B-7 Certificates, (xvi) the Class B-4 C Certificates, (xvi) the Class P Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Prefunding Account, the Capitalized Interest Account, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Class 2-A-1A3 and Class 0-X-0X0 Xxxxx Xxxxxxxxxxx Agreements and Yield Maintenance Accounts, the Final Maturity Reserve Trust, the Final Maturity Reserve Account and the Yield Maintenance AgreementsCollateral Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h), (i), or (j), as applicable. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, as well as the sole residual interest in each of the Lower-Tier REMIC and the Class AMiddle-RTier REMIC. The Lower-II Certificate represents Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue three uncertificated interests, two of which shall be the “Lower-Tier Regular Interests” and one residual interest (the “LT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Middle-Tier REMIC will hold as its assets all of the Lower-Tier Regular Interests and shall issue 19 uncertificated interests, 18 of which shall be the “Middle-Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Middle-Tier REMIC. The Upper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC shall hold as assets all property of The following table sets forth (or describes) the Trust Fund other than the assets held in the Basis Risk Reserve Funddesignation, the Yield Maintenance Account, the Yield Maintenance Agreementsinterest rate, and the interests in the initial principal balance of each Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets Regular Interest and the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A: Designation Interest Rate Initial Principal Balance LT-RInitial (1) $ 3,101,363,102.41 LT-II Certificate. Each such LowerSubsequent (2) $ 1,838,636,897.60 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-R (4) (4)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-12)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A1-1 Certificates, (ii) the Class 1-A-1B A1-2 Certificates, (iii) the Class 21-A-1A A2-A Certificates, (iv) the Class 21-A-1B A2-B Certificates, (v) the Class 21-A-1C Certificates, (viA2-C Certificates,(vi) the Class X-1 2-A-1 Certificates, (vii) the Class X-2 2-A-2 Certificates, (viii) the Class PO-1 1-M-1 Certificates, (ix) the Class PO-2 1-M-2 Certificates, (x) the Class A1-R M-3 Certificates, (xi), ) the Class A1-R-II M-4 Certificates, (xii) the Class P 1-M-5 Certificates, (xiii) the Class B-1 1-M-6 Certificates, (xiv) the Class B-2 1-M-7 Certificates, (xvx) the Class B-3 1-M-8 Certificates, (xvixi) the Class B-4 2-M-1 Certificates, (xviixii) the Class B-5 2-M-2 Certificates, (xviiixiii) the Class B-6 Certificates and 2-M-3 Certificates, (xix) the Class B-7 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificates, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. REMIC 1 As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive other than the Group 1 Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the assets held in Group 1 Supplemental Interest Trust, the Basis Risk Reserve Fund and the Yield Maintenance Group 1 Swap Account and the Yield Maintenance AgreementsGroup 1 Interest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-Tier REMIC Interests, other than the Class LT1-A Variable(2) $ 977,900.25 August 2036 1-1-B Variable(2) $ 977,900.25 August 2036 1-2-A Variable(2) $ 1,318,993.50 August 2036 1-2-B Variable(2) $ 1,318,993.50 August 2036 1-3-A Variable(2) $ 1,660,765.50 August 2036 1-3-B Variable(2) $ 1,660,765.50 August 2036 1-4-A Variable(2) $ 2,001,067.50 August 2036 1-4-B Variable(2) $ 2,001,067.50 August 2036 1-5-A Variable(2) $ 2,337,800.50 August 2036 1-5-B Variable(2) $ 2,337,800.50 August 2036 1-6-A Variable(2) $ 2,668,608.00 August 2036 1-6-B Variable(2) $ 2,668,608.00 August 2036 1-7-A Variable(2) $ 2,991,283.25 August 2036 1-7-B Variable(2) $ 2,991,283.25 August 2036 1-8-A Variable(2) $ 3,303,556.00 August 2036 1-8-B Variable(2) $ 3,303,556.00 August 2036 1-9-A Variable(2) $ 3,579,021.00 August 2036 1-9-B Variable(2) $ 3,579,021.00 August 2036 1-10-A Variable(2) $ 3,841,078.75 August 2036 1-10-B Variable(2) $ 3,841,078.75 August 2036 1-11-A Variable(2) $ 3,942,968.00 August 2036 1-11-B Variable(2) $ 3,942,968.00 August 2036 1-12-A Variable(2) $ 3,891,888.50 August 2036 1-12-B Variable(2) $ 3,891,888.50 August 2036 1-13-A Variable(2) $ 3,774,295.50 August 2036 1-13-B Variable(2) $ 3,774,295.50 August 2036 1-14-A Variable(2) $ 3,660,235.75 August 2036 1-14-B Variable(2) $ 3,660,235.75 August 2036 1-15-A Variable(2) $ 3,549,619.50 August 2036 1-15-B Variable(2) $ 3,549,619.50 August 2036 1-16-A Variable(2) $ 3,442,297.50 August 2036 1-16-B Variable(2) $ 3,442,297.50 August 2036 1-17-A Variable(2) $ 3,338,173.25 August 2036 1-17-B Variable(2) $ 3,338,173.25 August 2036 1-18-A Variable(2) $ 3,237,238.25 August 2036 1-18-B Variable(2) $ 3,237,238.25 August 2036 1-19-A Variable(2) $ 3,139,364.00 August 2036 1-19-B Variable(2) $ 3,139,364.00 August 2036 1-20-A Variable(2) $ 8,713,977.25 August 2036 1-20-B Variable(2) $ 8,713,977.25 August 2036 1-21-A Variable(2) $ 2,779,268.75 August 2036 1-21-B Variable(2) $ 2,779,268.75 August 2036 1-22-A Variable(2) $ 5,529,972.00 August 2036 1-22-B Variable(2) $ 5,529,972.00 August 2036 1-23-A Variable(2) $ 6,779,380.50 August 2036 1-23-B Variable(2) $ 6,779,380.50 August 2036 1-24-A Variable(2) $ 3,738,314.50 August 2036 1-24-B Variable(2) $ 3,738,314.50 August 2036 1-25-A Variable(2) $ 2,207,397.50 August 2036 1-25-B Variable(2) $ 2,207,397.50 August 2036 1-26-A Variable(2) $ 2,140,540.00 August 2036 1-26-B Variable(2) $ 2,140,540.00 August 2036 1-27-A Variable(2) $ 2,075,692.50 August 2036 1-27-B Variable(2) $ 2,075,692.50 August 2036 1-28-A Variable(2) $ 2,012,807.50 August 2036 1-28-B Variable(2) $ 2,012,807.50 August 2036 1-29-A Variable(2) $ 1,951,800.00 August 2036 1-29-B Variable(2) $ 1,951,800.00 August 2036 1-30-A Variable(2) $ 1,892,675.00 August 2036 1-30-B Variable(2) $ 1,892,675.00 August 2036 1-31-A Variable(2) $ 1,835,322.50 August 2036 1-31-B Variable(2) $ 1,835,322.50 August 2036 1-32-A Variable(2) $ 1,779,635.00 August 2036 1-32-B Variable(2) $ 1,779,635.00 August 2036 1-33-A Variable(2) $ 1,725,647.50 August 2036 1-33-B Variable(2) $ 1,725,647.50 August 2036 1-34-A Variable(2) $ 7,534,410.00 August 2036 1-34-B Variable(2) $ 7,534,410.00 August 2036 1-35-A Variable(2) $ 1,443,282.50 August 2036 1-35-B Variable(2) $ 1,443,282.50 August 2036 1-36-A Variable(2) $ 8,237,347.50 August 2036 1-36-B Variable(2) $ 8,237,347.50 August 2036 1-37-A Variable(2) $ 1,147,782.50 August 2036 1-37-B Variable(2) $ 1,147,782.50 August 2036 1-38-A Variable(2) $ 1,112,952.50 August 2036 1-38-B Variable(2) $ 1,112,952.50 August 2036 1-39-A Variable(2) $ 1,079,165.00 August 2036 1-39-B Variable(2) $ 1,079,165.00 August 2036 1-40-A Variable(2) $ 1,046,395.00 August 2036 1-40-B Variable(2) $ 1,046,395.00 August 2036 1-41-A Variable(2) $ 1,014,575.00 August 2036 1-41-B Variable(2) $ 1,014,575.00 August 2036 1-42-A Variable(2) $ 983,792.50 August 2036 1-42-B Variable(2) $ 983,792.50 August 2036 1-43-A Variable(2) $ 953,897.50 August 2036 1-43-B Variable(2) $ 953,897.50 August 2036 1-44-A Variable(2) $ 924,885.00 August 2036 1-44-B Variable(2) $ 924,885.00 August 2036 1-45-A Variable(2) $ 896,782.50 August 2036 1-45-B Variable(2) $ 896,782.50 August 2036 1-46-A Variable(2) $ 869,530.00 August 2036 1-46-B Variable(2) $ 869,530.00 August 2036 1-47-A Variable(2) $ 843,095.00 August 2036 1-47-B Variable(2) $ 843,095.00 August 2036 1-48-A Variable(2) $ 817,410.00 August 2036 1-48-B Variable(2) $ 817,410.00 August 2036 1-49-A Variable(2) $ 792,562.50 August 2036 1-49-B Variable(2) $ 792,562.50 August 2036 1-50-A Variable(2) $ 768,442.50 August 2036 1-50-B Variable(2) $ 768,442.50 August 2036 1-51-A Variable(2) $ 745,017.50 August 2036 1-51-B Variable(2) $ 745,017.50 August 2036 1-52-A Variable(2) $ 722,337.50 August 2036 1-52-B Variable(2) $ 722,337.50 August 2036 1-53-A Variable(2) $ 700,365.00 August 2036 1-53-B Variable(2) $ 700,365.00 August 2036 1-54-A Variable(2) $ 679,052.50 August 2036 1-54-B Variable(2) $ 679,052.50 August 2036 1-55-A Variable(2) $ 658,347.50 August 2036 1-55-B Variable(2) $ 658,347.50 August 2036 1-56-A Variable(2) $ 638,282.50 August 2036 1-56-B Variable(2) $ 638,282.50 August 2036 1-57-A Variable(2) $ 618,830.00 August 2036 1-57-B Variable(2) $ 618,830.00 August 2036 1-58-A Variable(2) $ 7,997,132.50 August 2036 1-58-B Variable(2) $ 7,997,132.50 August 2036 1-59-A Variable(2) $ 10,062,652.50 August 2036 1-59-B Variable(2) $ 10,062,652.50 August 2036 1-60-A Variable(2) $ 1,431,030.00 August 2036 1-60-B Variable(2) $ 1,431,030.00 August 2036 1-Non-Swap Variable(2) $ 271,737,769.15 August 2036 P-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Variable(2) $ 100.00 August 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052006-5 1 Mortgage Loan Pass-Through Certificates, Series 20052006-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-three classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A Certificates, (iv) the Class 2-A-1B A1B Certificates, (v) the Class 2-A-1C A1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 X-2A1B Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 PO-2A1B Certificates, (x) the Class A-R Certificates, (xi)) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class B-7 Certificates, (xviii) the Class B-8 Certificates, (xix) the Class B-9 Certificates, (xx) the Class B-10 Certificates, (xxi) the Class B-11 Certificates, (xxii) the Class B-12 Certificates and (xxiii) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and (the Yield Maintenance Account and the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 MTA and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 X-2A1B Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance AccountFund. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed herebyInterests and the Middle-Tier REMIC Interests. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Samples: Pooling Agreement (Harborview Mortgage Loan Trust 2006-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Pre-Funding Account, the Interest Coverage Account, the Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Subsequent Mortgage Loan Interest, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I-II Certificate. Each such LowerLT1PF Variable(2) $ 209,896,726.30 November 25, 2000 X-Tier Interest is hereby designated as a REMIC regular interest.XXX Variable(2) $ 100.00 November 25, 2035 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005sell pass-5 Mortgage Loan Pass-Through Certificatesthrough certificates (collectively, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust), the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-three Classes of certificatesCertificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA-1, Class 1-A-1BA-X, Class 2-A-1AA, Class 23-A-1BA-1, Class 23-A-1CA-X, Class 4-A, Class 5-A-1, Class 5-A-2, Class 5-A-3, Class 5-A-4, Class 5-A-5, Class 5-A-6, Class 5-A-7, Class 5-A-X, Class R-I, Class R-II, Class R-III, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, B-5 and Class B-6 and Class B-7 Certificates represent Certificates. REMIC 1 As provided herein, the right Trustee will elect to receive payments in respect treat the segregated pool of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners assets consisting of the Class X-1 Mortgage Loans and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as certain other related assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-I Certificates will be the sole Class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). None of the REMIC 1 Regular Interests will be certificated. The following table irrevocably sets forth the designation, Uncertificated REMIC 1 Pass-Through Rate and initial Uncertificate Principal Balance for each of the “regular interest.interests” in REMIC 1 created hereunder:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this AgreementIn exchange for the Certificates, the Depositor intends hereby conveys the Trust Estate to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of Trustee to create the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated Estate for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “the "Upper-Tier REMIC” or, in " and the alternative, the “"Lower-Tier REMIC” ," respectively, and the “Upper-Tier each, a "REMIC”"). Each Certificate, The Class A Certificates (other than the Class 1-A-R Certificate R, Class 1-A-LR, Class A-PO, Class 15-IO, Class 30-IO and Class SES Certificates) and the Class A30-RB, Class X-II Certificate, B and Class 15-B Certificates are referred to collectively as the "Regular Certificates" and shall represent ownership of a constitute "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the The Class 1-A-1AA-PO Component, Class 2-A-PO Component, Class 3-A-PO Component, Class 4-A-PO Component, Class 1-A-1B30-IO Component, Class 2-A-1A30-IO Component, 3-15-IO Component, 4-15-IO Component, Class 1-SES Component, Class 2-A-1BSES Component, Class 23-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 SES Component and Class B-7 Certificates represent 4-SES Component (collectively, the right to receive payments "Components") shall also constitute "regular interests" in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in Section 5.07 and (ii) the Lower-Tier REMIC. The Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents shall be the sole class of "residual interest interest" in the Upper-Tier REMIC and the Class 1-A-R-II LR Certificate represents shall be the sole class of "residual interest interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC shall hold as assets all property Certificate Maturity Date. The following table sets forth characteristics of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Certificates and the interests Components, together with the minimum denominations and integral multiples in excess thereof in which the LowerClasses of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination): =================== ==================== ============== ================ ================= Initial Class Integral Certificate Multiples Balance or Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------------- -------------------- -------------- ---------------- ----------------- Class 1-Tier REMIC Interests, other than the A-1 $18,955,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class LT1-A-2 $2,500,000.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-3 $19,702,554.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-4 $4,909,946.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-5 $16,178,727.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-6 $227,273.00 (1) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-7 $205,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-8 $119,777,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-9 $2,237,500.00 (1) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-R Interest, ownership of which shall be evidenced by the $50.00 5.500% $50 N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-LR $50.00 5.500% $50 N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-1 $79,880,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-2 $13,242,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-3 $7,487,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-4 $3,531,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-1 $121,320,000.00 4.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-2 $50,008,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-3 $120,000,000.00 5.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-4 $1,320,000.00 5.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-5 $39,262,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-6 $10,745,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 4-A-1 $147,067,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class A-RPO (2) (2) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-II Certificate. Each such LowerIO (3) (3) $10,000,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-Tier Interest is hereby designated as a REMIC regular interest.IO (4) (4) $10,000,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-1 $2,395,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-2 $958,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-3 $479,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-4 $383,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-5 $383,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-6 $192,553.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-1 $2,834,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-2 $515,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-3 $387,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-4 $257,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-5 $258,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-6 $129,255.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-1 $1,573,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-2 $699,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-3 $525,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-4 $349,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-5 $350,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-6 $349,936.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class SES (6) (6) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- =================== ==================== ============== ================ ================= Integral Initial Component Multiples Balance or Pass-Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ------------------- -------------------- -------------- ---------------- ----------------- Class 1-30-IO $31,575,390.80 (7) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-30-IO $19,078,586.36 (8) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-15-IO $128,039,756.17 (9) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-15-IO $60,485,320.24 (10) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-SES $191,598,060.16 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-SES $106,989,476.01 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-SES $349,601,000.80 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-SES $150,606,900.15 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-PO $2,114,407.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-PO $1,030,434.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-PO $3,100,064.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-A-PO $978,687.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- -----------------
Appears in 1 contract
PRELIMINARY STATEMENT. Through this AgreementIn exchange for the Certificates, the Depositor intends hereby conveys the Trust Estate to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of Trustee to create the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated Estate for federal income tax purposes will be treated as comprising two three separate real estate mortgage investment conduits (each, a “the "Upper-Tier REMIC” or, in ," the alternative, "Middle-Tier REMIC" and the “"Lower-Tier REMIC” ," respectively, and the “Upper-Tier each, a "REMIC”"). Each Certificate, The Class A Certificates (other than the Class 1-A-R Certificate R, Class 1-A-MR, Class 1-A-LR, Class A-PO, Class 15-IO, Class 30-IO and Class SES Certificates) and the Class A1-RB, Class X-II Certificate, B and Class 3-B Certificates are referred to collectively as the "Regular Certificates" and shall represent ownership of a constitute "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the The Class 1-A-1AA-PO Component, Class 2-A-PO Component, Class 3-A-PO Component, Class 4-A-PO Component, Class 1-A-1B30-IO Component, Class 2-A-1A30-IO Component, 3-15-IO Component, 4-15-IO Component, Class 1-SES Component, Class 2-A-1BSES Component, Class 23-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 SES Component and Class B-7 Certificates represent 4-SES Component (collectively, the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii"Components") the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest shall also constitute "regular interests" in the Upper-Tier REMIC and REMIC. The Uncertificated Middle-Tier Interests shall constitute the Class A"regular interests" in the Middle-RTier REMIC. The Uncertificated Lower-II Certificate represents Tier Interests shall constitute the sole class of residual interest "regular interests" in the Lower-Tier REMIC. The LowerClass 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC, the Class 1-A-MR Certificate shall be the "residual interest" in the Middle-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC formed herebyREMIC. The Upper Tier REMIC shall hold as assets Certificates, the uncertificated Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC InterestsCertificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, other than together with the Class LT-R Interest, ownership minimum denominations and integral multiples in excess thereof in which the Classes of which Certificates shall be evidenced by issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.minimum denomination):
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgag Sec Inc Pass Thru Cert Series 2004-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A1 Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 B-1 Certificates, (xvii) the Class B-5 B-2 Certificates, (xviii) the Class B-6 Certificates and C Certificates, (xix) the Class B-7 P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. REMIC 1 As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Cap Contract, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 306,321,842.48 February 25, 2036 I-1-II Certificate. Each such LowerA Variable(2) $ 16,093,230.00 February 25, 2036 I-1-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 16,093,230.00 February 25, 2036 I-2-B Variable(2) $ 15,322,872.50 February 25, 2036 I-3-A Variable(2) $ 14,589,571.25 February 25, 2036 I-3-B Variable(2) $ 14,589,571.25 February 25, 2036 I-4-A Variable(2) $ 13,891,541.25 February 25, 2036 I-4-B Variable(2) $ 13,891,541.25 February 25, 2036 I-5-A Variable(2) $ 13,227,075.00 February 25, 2036 I-5-B Variable(2) $ 13,227,075.00 February 25, 2036 I-6-A Variable(2) $ 12,594,556.25 February 25, 2036 I-6-B Variable(2) $ 12,594,556.25 February 25, 2036 I-7-A Variable(2) $ 12,047,917.50 February 25, 2036 I-7-B Variable(2) $ 12,047,917.50 February 25, 2036 I-8-A Variable(2) $ 12,751,793.75 February 25, 2036 I-8-B Variable(2) $ 12,751,793.75 February 25, 2036 I-9-A Variable(2) $ 38,246,445.00 February 25, 2036 I-9-B Variable(2) $ 38,246,445.00 February 25, 2036 I-10-A Variable(2) $ 159,223,570.00 February 25, 2036 I-10-B Variable(2) $ 159,223,570.00 February 25, 2036 I-11-A Variable(2) $ 1,750,065.00 February 25, 2036 I-11-B Variable(2) $ 1,750,065.00 February 25, 2036 I-12-B Variable(2) $ 1,562,706.25 February 25, 2036 I-13-A Variable(2) $ 1,368,390.00 February 25, 2036 I-13-B Variable(2) $ 1,368,390.00 February 25, 2036 I-14-A Variable(2) $ 982,808.75 February 25, 2036 I-14-B Variable(2) $ 982,808.75 February 25, 2036 I-15-A Variable(2) $ 943,795.00 February 25, 2036 I-15-B Variable(2) $ 943,795.00 February 25, 2036 I-16-A Variable(2) $ 906,416.25 February 25, 2036 I-16-B Variable(2) $ 906,416.25 February 25, 2036 I-17-A Variable(2) $ 870,598.75 February 25, 2036 I-17-B Variable(2) $ 870,598.75 February 25, 2036 I-18-A Variable(2) $ 836,273.75 February 25, 2036 I-18-B Variable(2) $ 836,273.75 February 25, 2036 I-19-A Variable(2) $ 836,986.25 February 25, 2036 I-19-B Variable(2) $ 836,986.25 February 25, 2036 I-20-A Variable(2) $ 809,280.00 February 25, 2036 I-20-B Variable(2) $ 809,280.00 February 25, 2036 I-21-A Variable(2) $ 921,262.50 February 25, 2036 I-21-B Variable(2) $ 921,262.50 February 25, 2036 I-22-B Variable(2) $ 1,704,840.00 February 25, 2036 I-23-A Variable(2) $ 609,498.75 February 25, 2036 I-23-B Variable(2) $ 609,498.75 February 25, 2036 I-24-A Variable(2) $ 587,400.00 February 25, 2036 I-24-B Variable(2) $ 587,400.00 February 25, 2036 I-25-A Variable(2) $ 566,111.25 February 25, 2036 I-25-B Variable(2) $ 566,111.25 February 25, 2036 I-26-A Variable(2) $ 545,607.50 February 25, 2036 I-26-B Variable(2) $ 545,607.50 February 25, 2036 I-27-A Variable(2) $ 525,853.75 February 25, 2036 I-27-B Variable(2) $ 525,853.75 February 25, 2036 I-28-A Variable(2) $ 14,068,245.00 February 25, 2036 I-28-B Variable(2) $ 14,068,245.00 February 25, 2036 P Variable(2) $ 100.00 February 25, 2036 ________________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-2)
