Common use of Staged-Funding Contract Reserve Account Clause in Contracts

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1997-2." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1997-23." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, 's and Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch Xxxxx'x (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971998-2." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, BBB+ or lower by Standard and Poor's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1997-26." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Staged- Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyNorwest Bank Minnesota, National Association, as Trustee for the benefit of holders of Manufactured manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971996-2." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).the

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such the notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be Trust with an Eligible AccountInstitution, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, First Bank National Association as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Certificates Series 19971995-27." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the CompanyOriginator's long-term debt securities are rated BB+ or lower by Standard & Poor's, Fitch and Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch Xxxxx'x (the "Ratings Adjustment Date"), the Company Originator shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company Originator pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19972000-21." b. If the Company Originator fails to satisfy its obligations under Section 3.05(c)(ii3.06(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the CompanyOriginator's obligations under Section 3.05(c)(ii3.06(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii3.06(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company Originator to repurchase Contracts under Section 3.05(c3.06(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company Originator shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company Originator under Section 3.05(c)(ii3.06(c)(ii). Funds in the Staged-Funding Contract Reserve Account shall, at the direction of the Originator, be invested in Eligible Investments that mature no later than the Funding Termination Date. All net income and gain from such investments shall be distributed to the Originator on the Funding Termination Date. Any losses on such investments shall be deposited in the Staged-Funding Contract Reserve Account by the Originator out of its own funds immediately as realized. All amounts earned on amounts on deposit in the Staged-Funding Contract Reserve Account shall be taxable to the Originator. d. Any funds remaining in the Staged-Funding Contract Reserve Account after the Funding Termination Date shall be distributed to the Originator.

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the CompanyOriginator's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, 's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company Originator shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company Originator pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971999-24." b. If the Company Originator fails to satisfy its obligations under Section 3.05(c)(ii3.06(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the CompanyOriginator's obligations under Section 3.05(c)(ii3.06(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii3.06(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company Originator to repurchase Contracts under Section 3.05(c3.06(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company Originator shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company Originator under Section 3.05(c)(ii3.06(c)(ii). Funds in the Staged-Funding Contract Reserve Account shall, at the direction of the Originator, be invested in Eligible Investments that mature no later than the Funding Termination Date. All net income and gain from such investments shall be distributed to the Originator on the Funding Termination Date. Any losses on such investments shall be deposited in the Staged-Funding Contract Reserve Account by the Originator out of its own funds immediately as realized. All amounts earned on amounts on deposit in the Staged-Funding Contract Reserve Account shall be taxable to the Originator. d. Any funds remaining in the Staged-Funding Contract Reserve Account after the Funding Termination Date shall be distributed to the Originator.

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, 's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Pass- Through Certificates, Series 19971999-25." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyNorwest Bank Minnesota, National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate PassPass- Through Certificates Series 1996-Through Certificates, Series 1997-21." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, Company as Trustee for the benefit of holders of Manufactured manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971995-28." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ BBB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1997-24." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, 's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971999-23." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the The Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company Originator pursuant to the previous sentenceSection 2.02(r). The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19972000-2." b. Upon receipt by the Trustee of an Officer's Certificate pursuant to Section 3.06(c)(i) to the effect that one or more Staged-Funding Contracts have been fully disbursed in accordance with the terms of such Contract, on or before the Funding Termination Date, the Trustee shall release to the Seller that portion of the funds held in the Staged-Funding Contract Reserve Account attributable to those Staged-Funding Contracts (as specified in such Officer's Certificate). c. If the Company Originator fails to satisfy its obligations under Section 3.05(c)(ii3.06(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the CompanyOriginator's obligations under Section 3.05(c)(ii3.06(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii3.06(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company Originator to repurchase Contracts under Section 3.05(c3.06(c). c. d. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company Originator shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company Originator under Section 3.05(c)(ii3.06(c)(ii). Funds in the Staged- Funding Contract Reserve Account shall, at the direction of the Originator, be invested in Eligible Investments that mature no later than the Funding Termination Date. All net income and gain from such investments shall be distributed to the Originator on the Funding Termination Date. Any losses on such investments shall be deposited in the Staged-Funding Contract Reserve Account by the Originator out of its own funds immediately as realized. All amounts earned on amounts on deposit in the Staged-Funding Contract Reserve Account shall be taxable to the Originator. e. Any funds remaining in the Staged-Funding Contract Reserve Account after the Funding Termination Date shall be distributed to the Originator.

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Certificates Series 19971995-210." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BBB+ or lower by Standard & Poor's (the "First Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to that portion of the Cut-off Date Principal of the Unfunded Contracts that was undisbursed on the First Ratings Adjustment Date. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Fitch and BBB- or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch 's (the "Second Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off off Date Principal Balance of the Contracts that were Unfunded Contracts on the Second Ratings Adjustment Date, less the amount deposited by the Company with the Trustee under the preceding sentence. Upon receipt of such a notice under the first or second sentence of this Section the Trustee shall establish the Staged-Staged- Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentencethis section. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1997-28." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Certificates Series 19971995-29." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ Baa3 or lower by Xxxxx'x and BBB- or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch 's (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971998-25." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ BBB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ BBB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971996-210." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust Company, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971996-29." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, 's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971999-21." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii). Funds in the Staged- Funding Contract Reserve Account shall, at the direction of the Company, be invested in Eligible Investments that mature no later than the Funding Termination Date. All net income and gain from such investments shall be distributed to the Company on the Funding Termination Date. Any losses on such investments shall be deposited in the Staged-Funding Contract Reserve Account by the Company out of its own funds immediately as realized. All amounts earned on amounts on deposit in the Staged-Funding Contract Reserve Account shall be taxable to the Company.

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the CompanyOriginator's long-term debt securities are rated BB+ or lower by Standard & Poor's, 's and Ba1 or lower by Xxxxx'x, and BB+ or lower by Fitch Xxxxx'x (the "Ratings Adjustment Date"), the Company Originator shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company Originator pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971999-26." b. If the Company Originator fails to satisfy its obligations under Section 3.05(c)(ii3.06(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the CompanyOriginator's obligations under Section 3.05(c)(ii3.06(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii3.06(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company Originator to repurchase Contracts under Section 3.05(c3.06(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company Originator shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company Originator under Section 3.05(c)(ii3.06(c)(ii). Funds in the Staged-Funding Contract Reserve Account shall, at the direction of the Originator, be invested in Eligible Investments that mature no later than the Funding Termination Date. All net income and gain from such investments shall be distributed to the Originator on the Funding Termination Date. Any losses on such investments shall be deposited in the Staged-Funding Contract Reserve Account by the Originator out of its own funds immediately as realized. All amounts earned on amounts on deposit in the Staged-Funding Contract Reserve Account shall be taxable to the Originator. d. Any funds remaining in the Staged-Funding Contract Reserve Account after the Funding Termination Date shall be distributed to the Originator.

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, 's and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971998-26." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).

Staged-Funding Contract Reserve Account. a. Within one Business Day after any date prior to the Funding Termination Date on which the Company's long-term debt securities are rated BB+ or lower by Standard & Poor's, Ba1 or lower by Xxxxx'x, Xxxxx'x and BB+ or lower by Fitch (the "Ratings Adjustment Date"), the Company shall give written and telephonic notice thereof to the Trustee and shall deposit with the Trustee an amount equal to the Cut-Off Date Principal Balance unfunded portion of the Contracts that were Unfunded Contracts on the Ratings Adjustment Date. Upon receipt of such notice the Trustee shall establish the Staged-Funding Contract Reserve Account on behalf of the Trust, which must be an Eligible Account, and shall deposit therein the amount received from the Company pursuant to the previous sentence. The Account shall be entitled "Firstar Trust CompanyU.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19971998-24." b. If the Company fails to satisfy its obligations under Section 3.05(c)(ii) hereof the Trustee shall withdraw from the Staged-Funding Contract Reserve Account that amount necessary to satisfy the Company's obligations under Section 3.05(c)(ii), and shall apply said funds in the fashion provided in the second sentence in Section 3.05(c)(ii). Any amount so applied shall be treated for all purposes under this Agreement as an amount paid by the Company to repurchase Contracts under Section 3.05(c). c. The Staged-Funding Contract Reserve Account shall be part of the Trust but not part of the Subsidiary REMIC or Master REMIC. The Trustee on behalf of the Trust shall be the legal owner of the Staged-Funding Contract Reserve Account. The Company shall be the beneficial owner of the Staged-Funding Contract Reserve Account, subject to the foregoing power of the Trustee to apply amounts in the Staged-Funding Contract Reserve Account to satisfy the obligations of the Company under Section 3.05(c)(ii).