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 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999-1."

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 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999-14."

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 and BB+ Ba1 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999-16."

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 BB+ Ba1 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19992000-1."

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 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999-13."

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 and BB+ Bal 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19991998-18."

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 Standard & Poor's 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19991998-17."

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 and BB+ Ba1 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19991998-12."

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 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 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 "U.S. Bank National Association, as Trustee for the benefit of holders of Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 19991998-15."