Seller Loss Coverage Obligation. The Seller hereby agrees that, for the benefit of the Certificateholders, on the Business Day immediately preceding each Distribution Date it will remit to the Trustee for deposit into the Distribution Account the amount of any Enhancement Payment due for such Distribution Date as specified in the remittance report delivered by the Master Servicer. The obligation of the Seller to remit Enhancement Payments will terminate when the Seller Loss Coverage Amount has been reduced to zero.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-S1), Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Cwabs Inc Asset Back Certificates Series 2001-3)
Seller Loss Coverage Obligation. The Seller hereby agrees that, for the benefit of the Certificateholders, on the Business Day immediately preceding each Distribution Date it will remit to the Trustee for deposit into the Distribution Account the amount of any Enhancement Payment due for such Distribution Date as specified in the remittance report delivered by the Master Servicer. The obligation of the Seller to remit Enhancement Payments will terminate when the Seller Loss Coverage Amount has been reduced to zero.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Bc1), Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2001-1), Pooling and Servicing Agreement (Cwabs Inc)
