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-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 the Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust 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) 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-4 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-4 Certificates I-A-16 (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 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 In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(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 the termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to as provided in Section 4.7(b) hereof4.7(c), 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 and Separate Interest Trust after payment of the Yield Supplement Amountamounts, if any, owed to the holders of the Class A-4 I-A-16 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-4 Certificates I-A-3 (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 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 In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(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-4 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-4 Certificates A-1 (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 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 herebyFund. (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) 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(b3.5(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-4 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-4 Certificates II-A-11 (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 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-4 II-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 A-4 Certificates A-5 (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 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 In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(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 the termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to as provided in Section 4.7(b) hereof4.7(c), 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 and Separate Interest Trust after payment of the Yield Supplement Amountamounts, if any, owed to the holders of the Class A-4 A-5 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-4 Certificates I-A-1 (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 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 In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(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 the termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to as provided in Section 4.7(b) hereof4.7(c), 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 and Separate Interest Trust after payment of the Yield Supplement Amountamounts, if any, owed to the holders of the Class A-4 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-4 Certificates I-A-2 (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 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 In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(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 the termination of the Corridor Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds on the applicable Distribution Date to pay amounts owed pursuant to as provided in Section 4.7(b) hereof4.7(c), 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 and Separate Interest Trust after payment of the Yield Supplement Amountamounts, if any, owed to the holders of the Class A-4 I-A-2 Certificates, shall be distributed to the Corridor Residual Owner.