Common use of Separate Interest Trust Clause in Contracts

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and the Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. (b) The Trustee shall deposit into the Reserve Fund any and all amounts received from time to time from the Corridor Contract Counterparty in respect of the Corridor Contract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor ContractContract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Counterparty Administrator in respect of the Corridor ContractContracts pursuant to the Corridor Contract Administration Agreements. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountAmounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 Certificates and Class I-A-3 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and Pursuant to the Reserve Fund will also be assets of Novation Agreement, CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor to execute, deliver and enter into the Novation Agreement on behalf of the Separate Interest Trust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and Class I-A-3 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Novation Agreement and shall do so solely in its capacity as trustee of the Separate Interest Trust and not in its individual capacity. (b) The Trustee shall deposit into Pursuant to the Reserve Fund any and all amounts received from time to time from Corridor Contracts, the Corridor Contract Counterparty in respect shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor ContractContract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund for application as provided in Section 4.7(b). The Trustee shall pay to CHL, as owner of the residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 I-A-4 and Class I-A-10 Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Contracts and the Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract Contracts on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor ContractContracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. (b) The Trustee shall deposit into the Reserve Fund any and all amounts received from time to time from the Corridor Contract Counterparty in respect of the applicable Corridor Contract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement AmountAmounts, if any, owed to the holders of the Class A-1 I-A-4 and Class I-A-10 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-3 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and Pursuant to the Reserve Fund will also be assets of Novation Agreements, CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor to execute, deliver and enter into the Novation Agreements on behalf of the Separate Interest Trust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 and Class I-A-3 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Novation Agreements and shall do so solely in its capacity as trustee of the Separate Interest Trust and not in its individual capacity. (b) The Trustee shall deposit into Pursuant to the Reserve Fund any and all amounts received from time to time from Corridor Contracts, the Corridor Contract Counterparty in respect shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor ContractContract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund for application as provided in Section 4.7(b). The Trustee shall pay to CHL, as owner of the residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 I-A-1, Class I-A-6 and Class I-A-8 Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Contracts and the Reserve Fund will Funds shall also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor ContractContracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will shall own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. (b) The Trustee shall deposit into is hereby directed to execute and deliver the Reserve Fund any Contracts and all amounts received from time to time from the Corridor Contract Counterparty in respect Disclosure Agreement on behalf of the Corridor ContractSeparate Interest Trust. The Depositor and the Master Servicer acknowledge and agree that the Trustee is executing and delivering the Contracts and the Disclosure Agreement on behalf of the Separate Interest Trust and shall do so solely in its capacity as Trustee of the Separate Interest Trust and not in its individual capacity. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Reserve Accounts on the applicable Distribution Date to pay distribute the amounts owed pursuant to specified in Section 4.7(b), (c) and (d) hereof, the Trustee shall terminate the Reserve Fund Funds and the Separate Interest Trust. Upon Any amounts remaining in each Reserve Fund on the earlier of (i) the Distribution Date on which the Class Certificate Balance of the related Certificates is reduced to zero and (ii) the termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor Seller hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 X Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 and all of its right, title and interest in and to the Underlying Yield Supplement Amounts into the Separate Interest Trust. The Corridor Contract and the Reserve Fund Separate Interest Distribution Account will also be assets an asset of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established herebyFund. (b) The Trustee shall deposit into the Reserve Fund Separate Interest Distribution Account any and all amounts Underlying Yield Supplement Amounts received from time to time from the Corridor Contract Counterparty in respect of the Corridor ContractUnderlying Certificates. (c) The Trustee will treat On the Closing Date, the Separate Interest Trust for Federal tax purposes will issue the Class X Certificates in substantially the form attached hereto as a grantor trust with the Corridor Residual Owner as the sole beneficiary and Exhibit D. The Class X Certificates will apply for a separate Federal tax identification number for evidence an undivided beneficial ownership interest in the Separate Interest Trust. (d) . Upon termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunderCertificates, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b3.5(b) hereof, the Trustee shall terminate the Reserve Fund Separate Interest Distribution Account and the Separate Interest Trust. Upon termination of the Reserve Fund Separate Interest Distribution Account and the Separate Interest Trust, any amounts remaining in the Reserve Fund Separate Interest Distribution Account after payment distribution of the Underlying Yield Supplement AmountAmounts, if any, owed to the holders of the Class A-1 X Certificates, shall be distributed to the Corridor Residual OwnerSeller.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 I-A-6 and Class I-A-11 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor ContractContract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-6 and Class I-A-11 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Counterparty Administrator in respect of the Corridor ContractContracts. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountAmounts, if any, owed to the holders of the Class A-1 I-A-6 and Class I-A-11 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-6 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and the Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner Citigroup Global Markets Inc. will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor to execute, deliver and enter into the Corridor Contracts on behalf of the Separate Interest Trust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 and Class I-A-6 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contracts and shall do so solely in its capacity as trustee of the Separate Interest Trust and not in its individual capacity. (b) The Trustee shall deposit into Pursuant to the Reserve Fund any and all amounts received from time to time from Corridor Contracts, the Corridor Contract Counterparty in respect shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor ContractContract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the applicable Corridor Contract Termination Date. The Trustee will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund for application as provided in Section 4.7(b). The Trustee shall pay to Citigroup Global Markets Inc., as owner of the residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-3 Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Contracts and the Reserve Fund Funds will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract Contracts on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor ContractContracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. (b) The Trustee shall deposit into the Reserve Fund Funds any and all amounts received from time to time from the Corridor Contract Counterparty in respect of the applicable Corridor Contract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the a Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the related Reserve Fund and (after both Reserve Funds are terminated) the Separate Interest Trust. Upon termination of the Reserve Fund Funds and the Separate Interest Trust, any amounts remaining in the Reserve Fund Funds after payment of the applicable Yield Supplement AmountAmounts, if any, owed to the holders of the Class I-A-1 and Class I-A-3 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 and Class A-8 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and Pursuant to the Reserve Fund will also be assets of Novation Agreements, DBAG has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of DBAG's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner DBAG will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor to execute, deliver and enter into the Novation Agreements on behalf of the Separate Interest Trust. The Seller, the Depositor, the Master Servicer and the Holders of the Class A-1 and Class A-8 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Novation Agreements on behalf of the Separate Interest Trust and shall do so solely in its capacity as trustee of the Separate Interest Trust not in its individual capacity. (b) The Trustee shall deposit into Pursuant to the Reserve Fund any and all amounts received from time to time from Corridor Contracts, the Corridor Contract Counterparty in respect shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor ContractContract Counterparty pursuant to the related Corridor Contract for each Distribution Date occurring after the initial Distribution Date and prior to the Corridor Contract Termination Date. The Trustee will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund for application as provided in Section 4.7(b). The Trustee shall distribute to DBAG, as owner of the residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contracts in connection with a Distribution Date occurring after the initial Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall on behalf of the Separate Interest Trust terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 Certificates (such trust is referred to herein as the “Separate Interest Trust”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and the Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. (b) The Trustee shall deposit into the Reserve Fund any and all amounts received from time to time from the Corridor Contract Counterparty in respect of the applicable Corridor Contract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the a Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class I-A-1 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class A-1 I-A-1, Class I-A-2 and Class I-A-4 Certificates (such trust is referred to herein as the “"Separate Interest Trust”") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract and Pursuant to the Reserve Fund will also be assets of Novation Agreement, CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor to execute, deliver and enter into the Novation Agreement on behalf of the Separate Interest Trust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1, Class I-A-2 and Class I-A-4 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Novation Agreement and shall do so solely in its capacity as trustee of the Separate Interest Trust and not in its individual capacity. (b) The Trustee shall deposit into Pursuant to the Reserve Fund any and all amounts received from time to time from Corridor Contracts, the Corridor Contract Counterparty in respect shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor ContractContract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund for application as provided in Section 4.7(b). The Trustee shall pay to CHL, as owner of the residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contract Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Reserve Fund and the Separate Interest Trust, any amounts remaining in the Reserve Fund after payment of the Yield Supplement Amount, if any, owed to the holders of the Class A-1 Certificates, shall be distributed to the Corridor Residual Owner.