Common use of Rounding Account Clause in Contracts

Rounding Account. No later than the Closing Date, the Trustee shall establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Rounding Account, Bank One, National Association, as trustee for the registered holders of Residential Asset Mortgage Products, Inc., GMACM Mortgage Pass-Through Certificates, Series 2001-J5, Class A-6." On the Closing Date, the Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Rounding Account, cash in an amount equal to $999.99. The Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay to the holders of the Insured Certificates pursuant to Section 4.02(h) the Rounding Amount. In addition, the Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Payment Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(h). Any amounts remaining in the Rounding Account on the date on which the Certificate Principal Balance of the Insured Certificates has been reduced to zero, or the Trust Fund is terminated, whichever occurs earlier, shall be paid to the Holders of the Class R-II Certificates.

Rounding Account. No later than the Closing Date, the Trustee shall establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Rounding Account, Bank One, National Association, as trustee for the registered holders of Residential Asset Mortgage Products, Inc., GMACM Mortgage Pass-Through Certificates, Series 20012002-J5J7, Class A-6A-4." On the Closing Date, the Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Rounding Account, cash in an amount equal to $999.99. The Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay to the holders of the Insured Class A-4 Certificates pursuant to Section 4.02(h) the Rounding Amount. In addition, the Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Payment Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(h). Any amounts remaining in the Rounding Account on the date on which the Certificate Principal Balance of the Insured Class A-4 Certificates has been reduced to zero, or the Trust Fund is terminated, whichever occurs earlier, shall be paid to the Holders of the Class R-II Certificates.

Rounding Account. No later than the Closing Date, the Trustee shall establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Rounding Account, Bank One, National Association, as trustee for the registered holders of Residential Asset Mortgage Products, Inc., GMACM Mortgage Pass-Through Certificates, Series 2001-J5J4, Class A-6A-5." On the Closing Date, the Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Rounding Account, cash in an amount equal to $999.99. The Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay to the holders of the Insured Certificates pursuant to Section 4.02(h) the Rounding Amount. In addition, the Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Payment Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(h). Any amounts remaining in the Rounding Account on the date on which the Certificate Principal Balance of the Insured Certificates has been reduced to zero, or the Trust Fund is terminated, whichever occurs earlier, shall be paid to the Holders of the Class R-II Certificates.

Rounding Account. No later than the Closing Date, the Trustee shall will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Rounding Account, Norwest Bank OneMinnesota, National Association, as trustee for the registered holders of Residential Asset Mortgage Products, Inc., GMACM Mortgage Pass-Through Certificates, Series 20012000-J5J2, Class A-6A-3." On the Closing Date, the Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Rounding Account, cash in an amount equal to $999.99. The Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Rounding Account to pay to the holders of the Insured Certificates pursuant to Section 4.02(h4.02(i) the Rounding Amount. In addition, the Trustee on each Distribution Date shall, based upon information provided by the Servicer for the related Distribution Date, withdraw funds from the Payment Account to repay to the Rounding Account the Rounding Amount from the prior Distribution Date as contemplated in Section 4.02(h4.02(i). Any amounts remaining in the Rounding Account on the date on which the Certificate Principal Balance of the Insured Certificates has been reduced to zero, or the Trust Fund is terminated, whichever occurs earlier, shall be paid to the Holders of the Class R-II R Certificates.