Common use of Replacement Swap Agreements Clause in Contracts

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRES, enforce all of its rights and exercise any remedies under the Swap Agreement. In the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If the Supplemental Interest Trust Trustee is unable to appoint a successor swap provider within 30 days of the early termination of the Swap Agreement, then the Supplemental Interest Trust Trustee will establish, and will deposit any Swap Termination Payment received from the original Swap Provider into, a separate, non-interest bearing reserve account (a "Swap Termination Reserve Account") and will, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated in accordance with the terms of the original Swap Agreement, and distribute such amount in accordance with this Agreement and the Pooling and Servicing Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRESGreenwich Capital Markets, Inc., as majority holder of the Class C Certificates, enforce all of its rights and exercise any remedies under the Swap Agreement. In the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), Greenwich Capital Markets, Inc., as majority holder of the Trust Administrator shallClass C Certificates, at the direction of UBSRES, shall find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms of the original Swap Agreement, Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, Insurer or, with the consent of the NIMS Insurer, if any, at the direction of UBSRESAmeriquest, enforce all of its rights and exercise any remedies under the Swap Agreement. In Agreement and, in the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Administration Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution DateDate following receipt of such Swap Termination Payment, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, Insurer or, with the consent of the NIMS Insurer, if any, at the direction of UBSRESAmeriquest Mortgage Company, enforce all of its rights and exercise any remedies under the Swap Agreement. In Agreement and, in the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Administration Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee Administrator shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRES, enforce all of its rights and exercise any remedies under the Swap Agreement. In the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Administration Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, (i) at the direction of the NIMS Insurer, if any, or, (ii) at the direction of NCCC, with the consent of the NIMS Insurer, if any, at the direction of UBSRES, enforce all of its rights and exercise any remedies under the Swap Agreement. In Agreement and, in the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to be selected by NCCC, with the consent of the NIMS Insurer, if any, or the NIMS Insurer, as applicable to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRESNCCC, enforce all of its rights and exercise any remedies under the Swap Agreement. In Agreement and, in the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee Administrator shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRES, enforce all of its rights and exercise any remedies under the Swap Agreement. In the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.

Replacement Swap Agreements. The Supplemental Interest Trust Trustee shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of UBSRESNCCC, enforce all of its rights and exercise any remedies under the Swap Agreement. In Agreement and, in the event the Swap Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), the Trust Administrator shall, at the direction of UBSRES, find a replacement counterparty to enter into a replacement swap agreement. Any Swap Termination Payment received by the Swap Administrator from the Supplemental Interest Trust Trustee shall be deposited in the Swap Account and shall be used to make any upfront payment required under a replacement swap agreement and any upfront payment received from the counterparty to a replacement swap agreement shall be used to pay any Swap Termination Payment owed to the Swap Provider. If Notwithstanding anything contained herein, in the Supplemental Interest Trust Trustee is unable to appoint event that a successor replacement swap provider agreement cannot be obtained within 30 days of after receipt by the early termination Swap Administrator of the Swap AgreementTermination Payment paid by the terminated Swap Provider, then the Supplemental Interest Trust Trustee will establish, and will Swap Administrator shall deposit any such Swap Termination Payment received from the original Swap Provider into, into a separate, non-interest bearing reserve account (a "account, established by the Swap Termination Reserve Account") Administrator and willthe Swap Administrator shall, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in the Swap Termination Reserve Account such account, an amount equal to the Net Swap Payment, if any, that would have been paid to the Supplemental Interest Trust by the original Swap Provider calculated (computed in accordance with the terms Section 2 of the original Swap Agreement, Agreement attached hereto as Exhibit A) and distribute such amount in accordance with Section 2(a) of this Agreement Agreement. On the Distribution Date immediately after the termination date of the original Swap Agreement, the Swap Administrator shall withdraw any funds remaining in such account and the Pooling and Servicing distribute such amount in accordance with Section 2(a)(ii) of this Agreement.