Supplemental Float Account. On or prior to the first Distribution Date, the Trustee shall establish and maintain in its name, a separate trust account for the benefit of the holders of the LIBOR Certificates (the "Supplemental Float Account") as a part of the Trust Fund. The Supplemental Float Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. Funds in the Supplement Float Account shall remain uninvested. On the Remittance Date, to the extent required pursuant to Section 3.21(c), the Servicer shall remit and report any interest or investment income earned on funds deposited in the Collection Account and the Trustee shall deposit such interest or investment income into the Supplemental Float Account. Funds on deposit in the Supplemental Float Account will be distributed in the following order of priority:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Wm3), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Wm3), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Fr4)
Supplemental Float Account. On or prior to the first Distribution Closing Date, the Trustee shall establish and maintain in its name, a separate trust account for the benefit of the holders of the LIBOR Certificates (the "Supplemental Float Account") as a part of the Trust Fund. The Supplemental Float Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. Funds in the Supplement Float Account shall remain uninvested. On the Remittance Date, to the extent required pursuant to Section 3.21(c), the Servicer shall remit and report any interest or investment income earned on funds deposited in the Collection Account and the Trustee shall deposit such interest or investment income into the Supplemental Float Account. Funds on deposit in the Supplemental Float Account will be distributed in the following order of priority:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Fr2), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Fr3)
Supplemental Float Account. On or prior to the first Distribution Closing Date, the Trustee shall establish and maintain in its name, a separate trust account for the benefit of the holders of the LIBOR Certificates (the "Supplemental Float Account") as a part of the Trust Fund. The Supplemental Float Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. Funds in the Supplement Float Account shall remain uninvested. On the Remittance Date, to the extent required pursuant to Section 3.21(c), the Servicer shall remit and report any interest or investment income earned on funds deposited in the Collection Account and the Trustee shall deposit such interest or investment income into the Supplemental Float Account. Funds on deposit in the Supplemental Float Account will be distributed in the following order of priority:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Wm4)
