Common use of Supplemental Interest Reserve Fund Clause in Contracts

Supplemental Interest Reserve Fund. On the Startup Day, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.13. If no WAC Excess is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. On the Startup DayClosing Date, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and in accordance with the Monthly Report shall therefore, deposit into the Supplemental Interest Reserve Account Fund an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b8.01(c) clause C.12 and 7.03(b) clause C.13C.10. If no WAC Excess is payable on a Distribution Date, the Trustee in accordance with the Monthly Report shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II I with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments Eligible Investments designated in writing by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders. In no event shall the Trustee be liable for investment losses on investments selected by the Class X-IO Certificateholder. In the absence of written directions, funds on deposit in the Supplemental Interest Reserve Fund shall remain uninvested. Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. On the Startup DayClosing Date, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and in accordance with the Monthly Report shall therefore, deposit into the Supplemental Interest Reserve Account Fund an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b8.01(c) clause C.12 and 7.03(b) clause C.13C.9. If no WAC Excess is payable on a Distribution Date, the Trustee in accordance with the Monthly Report shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal Federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by the Master REMIC II with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Offered Certificateholders on any Distribution Date will be invested by the Trustee in investments Eligible Investments designated in writing by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Offered Certificateholders. In no event shall the Trustee be liable for investment losses on investments selected by the Class X-IO Certificateholder. In the absence of written directions, funds on deposit in the Supplemental Interest Reserve Fund shall remain uninvested or, at the discretion of the Trustee, be deposited in the Trustee's "cash reserves account" (but only if such account qualifies as an Eligible Investment) unless otherwise instructed by the Master Servicer. Upon the termination of the Trust, or the payment in full of the Carryover Offered Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Offered Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1). The REMIC Administrator, on behalf of the Trustee, shall account for the rights of the Offered Certificates to received payments from the Supplemental Interest Reserve Fund as contractual rights that are property that the trustee holds separate and apart from each regular interest to which they relate. This obligation is intended to satisfy the requirements of Treasury regulation section 1.860G-2(i) and shall be interpreted and applied consistent with such regulation.

Supplemental Interest Reserve Fund. On the Startup Day, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is Current WAC ExcessExcess or Class A-7 Certificateholders' Interest Index Carryover, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the Current WAC Excess of the Current Interest on the Class A-7 Certificates which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.137.03(b)(ii), and/or the Class A-7 Certificateholders' Interest Index Carryover pursuant to Section 7.03(b)(ix). If no Current WAC Excess or Class A-7 Certificateholders' Interest Index Carryover is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Class A-7 Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Class A-7 Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Class A-7 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any either REMIC created hereunder I or REMIC II and any payments to the Carryover Class A-7 Certificates of Current WAC Excess and Class A-7 Certificateholders' Interest Index Carryover will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000[ ]. On each Distribution Date as to which there is WAC Excessa Class A-1A Supplemental Interest Amount or a Class A-2A Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an amount equal Fund the amounts described in Section 5.01(d) clause (11) with respect to the WAC Excess which is payable pursuant Fixed Rate Group and clause (7) with respect to Section 7.03(b) clause C.12 and 7.03(b) clause C.13the Adjustable Rate Group, rather than distributing such amounts to the Class C Certificateholders. If no WAC Excess is payable on a On each such Distribution Date, the Trustee shall deposit into hold all such amounts for the Supplemental Interest Reserve Fund on behalf benefit of the Class X-IO Adjustable Rate Group Certificateholders, and will distribute such amounts to the Adjustable Rate Group Certificateholders an amount such that when added pursuant to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000subclause (ii) of clause Second of Section 5.01(a). For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect except that, to the Class X-IO Distribution Amountextent distributions are to be made therefrom to the Adjustable Rate Group Certificateholders, such Certificateholders will be deemed to be the owners thereof. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Adjustable Rate Group Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO C Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Adjustable Rate Group Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover each Class of Adjustable Rate Group Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO C Certificateholders or their designeesdesignee. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1)Pool.

Supplemental Interest Reserve Fund. On the Startup DayClosing Date, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is Current WAC ExcessExcess or Class A-7 Interest Index Carryover, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the Current WAC Excess of the Current Interest on the Class A-7 Certificates which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.137.03(b)(ii), and/or the Class A-7 Interest Index Carryover pursuant to Section 7.03(b)(ix). If no current WAC Excess is or Class A-7 Interest Index Carryover are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund Account on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Class A-7 Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Class A-7 Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Class A-7 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder Pool and any payments to the Carryover Class A-7 Certificates of Current WAC Excess and Supplemental Interest Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. On the Startup Day, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.13C.10. If no WAC Excess is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II I with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000. On each Distribution Date as to which there is WAC Excessa Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an amount equal Fund the amounts described in Section 5.01(b)(9), rather than distributing such amounts to the WAC Excess which is payable Class C Certificateholders. On each such Distribution Date, the Trustee shall (i) hold all such amounts in respect of Adjustable Rate Group I for the benefit of the Adjustable Rate Group I Certificateholders, and will distribute such amounts to the Class A-V1 Certificateholders pursuant to Section 7.03(b5.01(b)(9) clause C.12 as part of the Accrued Certificate Interest on the Class A-V1 Certificates (ii) hold all such amounts in respect of Adjustable Rate Group II for the benefit of the Adjustable Rate Group II Certificateholders, and 7.03(bwill distribute such amounts to the Class A-V2 Certificateholders pursuant to Section 5.01(b)(9) clause C.13as part of the Accrued Certificate Interest on the Class A-V2 Certificates . If no WAC Excess is Supplemental Interest Amounts are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO C Distribution Amount and Class C Carryforward Amount. Amounts Related amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders Class A-V1 and Class A-V2 Certificateholders, respectively, on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO C Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such related amounts will be distributable to the Carryover Class A-V1 and Class A-V2 Certificateholders, respectively. Upon the termination of the Trust, or the payment in full of the Carryover Class A-V1 and Class A-V2 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO C Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder Pool and any payments to the Carryover Class A-V1 and Class A-V2 Certificates of WAC Excess and related Supplemental Interest Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. On the Startup Day, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.13C.10. If no WAC Excess is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II I with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000. On each Distribution Date as to which there is WAC Excessa Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an amount equal Fund the amounts described in Section 5.01(b)(8), rather than distributing such amounts to the WAC Excess which is payable Class C Certificateholders. On each such Distribution Date, the Trustee shall (i) hold all such amounts in respect of Adjustable Rate Group I for the benefit of the Adjustable Rate Group I Certificateholders, and will distribute such amounts to the Class A-V1 Certificateholders pursuant to Section 7.03(b5.01(b)(8) clause C.12 as part of the Accrued Certificate Interest on the Class A-V1 Certificates (ii) hold all such amounts in respect of Adjustable Rate Group II for the benefit of the Adjustable Rate Group II Certificateholders, and 7.03(bwill distribute such amounts to the Class A-V2 Certificateholders pursuant to Section 5.01(b)(8) clause C.13as part of the Accrued Certificate Interest on the Class A-V2 Certificates. If no WAC Excess is Supplemental Interest Amounts are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO C Distribution Amount and Class C Carryforward Amount. Amounts Related amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders Class A-V1 and Class A-V2 Certificateholders, respectively, on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO C Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such related amounts will be distributable to the Carryover Class A-V1 and Class A-V2 Certificateholders, respectively. Upon the termination of the Trust, or the payment in full of the Carryover Class A-V1 and Class A-V2 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO C Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder Pool and any payments to the Carryover Class A-V1 and Class A-V2 Certificates of WAC Excess and related Supplemental Interest Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000. On each Distribution Date as to which there is WAC Excessa Class A-1A Supplemental Interest Amount or a Class A-2A Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an amount equal Fund the amounts described in Section 5.01(d) clause (11) with respect to the WAC Excess which is payable pursuant Fixed Rate Group and clause (7) with respect to Section 7.03(b) clause C.12 and 7.03(b) clause C.13the Adjustable Rate Group, rather than distributing such amounts to the Class C Certificateholders. If no WAC Excess is payable on a On each such Distribution Date, the Trustee shall deposit into hold all such amounts for the Supplemental Interest Reserve Fund on behalf benefit of the Class X-IO Adjustable Rate Group Certificateholders, and will distribute such amounts to the Adjustable Rate Group Certificateholders an amount such that when added pursuant to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000subclause (ii) of clause Second of Section 5.01(a). For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect except that, to the Class X-IO Distribution Amountextent distributions are to be made therefrom to the Adjustable Rate Group Certificateholders, such Certificateholders will be deemed to be the owners thereof. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Adjustable Rate Group Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO C Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Adjustable Rate Group Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover each Class of Adjustable Rate Group Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO C Certificateholders or their designeesdesignee. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1)Pool.

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000. On each Distribution Date as to which there is Current WAC ExcessExcess or a Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an Fund the amounts described in Section 5.01(b)(9) as well as the amount equal of any Current WAC Excess, rather than distributing such amounts to the WAC Excess which is payable Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Adjustable Rate Group Certificateholders, and will distribute such amounts to the Class A-V Certificateholders pursuant to Section 7.03(b5.01(b)(9) clause C.12 and 7.03(band, in the case of the Current WAC Excess, Section 5.01(b)(2) clause C.13as part of the Accrued Certificate Interest on the Class A-V Certificates. If no Current WAC Excess is or Supplemental Interest Amounts are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO C Distribution Amount and Class C Carryforward Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Class A-V Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).be

Supplemental Interest Reserve Fund. On the Startup DayClosing Date, the holders of the Class X-IO Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, [$10,000]. On each Distribution Date as to which there is Current WAC ExcessExcess or Class A-7 Interest Index Carryover, the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the Current WAC Excess of the Current Interest on the Class A-7 Certificates which is payable pursuant to Section 7.03(b) clause C.12 and 7.03(b) clause C.137.03(b)(ii), and/or the Class A-7 Interest Index Carryover pursuant to Section 7.03(b)(ix). If no current WAC Excess is or Class A-7 Interest Index Carryover are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund Account on behalf of the Class X-IO Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to [$10,000]. For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial [$10,000 10,000] deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Class A-7 Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover Class A-7 Certificateholders. Upon the termination of the Trust, or the payment in full of the Carryover Class A-7 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder Pool and any payments to the Carryover Class A-7 Certificates of Current WAC Excess and Supplemental Interest Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. [On the Startup DayClosing Date, the holders of the [Class X-IO IO] Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000[_____]. On each Distribution Date as to which there is WAC Excess, the Trustee has been directed to, and in accordance with the Monthly Report shall therefore, deposit into the Supplemental Interest Reserve Account Fund an amount equal to the WAC Excess which is payable pursuant to Section 7.03(b8.01(c) clause C.12 and 7.03(b) clause C.13C.9. If no WAC Excess is payable on a Distribution Date, the Trustee in accordance with the Monthly Report shall deposit into the Supplemental Interest Reserve Fund on behalf of the [Class X-IO IO] Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000[_____]. For federal Federal and state income tax purposes, the [Class X-IO IO] Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 [_____] deposit) shall be treated as amounts distributed by the Master REMIC II with respect to the [Class X-IO IO] Distribution Amount. Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders [Offered Certificateholders] on any Distribution Date will be invested by the Trustee in investments Eligible Investments designated in writing by the [Class X-IO IO] Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover [Offered Certificateholders]. In no event shall the Trustee be liable for investment losses on investments selected by the [Class X-IO] Certificateholder. In the absence of written directions, funds on deposit in the Supplemental Interest Reserve Fund shall remain uninvested or, at the discretion of the Trustee, be deposited in the Trustee's "cash reserves account" (but only if such account qualifies as an Eligible Investment) unless otherwise instructed by the Master Servicer. Upon the termination of the Trust, or the payment in full of the Carryover [Offered Certificates], all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the [Class X-IO IO] Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover Offered Certificates of WAC Excess and will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1). The REMIC Administrator, on behalf of the Trustee, shall account for the rights of the Offered Certificates to received payments from the Supplemental Interest Reserve Fund as contractual rights that are property that the trustee holds separate and apart from each regular interest to which they relate. This obligation is intended to satisfy the requirements of Treasury regulation section 1.860G-2(i) and shall be interpreted and applied consistent with such regulation.]

Supplemental Interest Reserve Fund. On the Startup DayClosing Date, the holders of the Class X-IO V Certificates will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, $10,000. On each Distribution Date as to which there is Current WAC ExcessExcess or Certificateholders' Interest Index Carryover for any class of Adjustable Rate Certificates, the Trustee has been is hereby directed to, and shall therefore, deposit into the Supplemental Interest Reserve Account an amount equal to the Current WAC Excess of the Accrued Certificate Interest for each affected Class of Adjustable Rate Certificates which is payable pursuant to Section 7.03(b4.01(a)(1)(ii) clause C.12 through 4.01(a)(1)(v) and 7.03(b) clause C.134.01(a)(3)(xiii), and/or the Certificateholders' Interest Index Carryover for each affected Class of Adjustable Rate Certificates pursuant to Section 4.01(a)(3)(xiii). If no Current WAC Excess or Certificateholders' Interest Index Carryover is payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO V Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO V Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount). Amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover related Class of Adjustable Rate Certificateholders on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO V Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such amounts will be distributable to the Carryover related Class or Classes of Adjustable Rate Certificateholders. Upon the termination of the TrustTrust Fund, or the payment in full of the Carryover related Adjustable Rate Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO V Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder and any payments to the Carryover related Adjustable Rate Certificates of Current WAC Excess and Certificateholders' Interest Index Carryover with respect to any Class of Adjustable Rate Certificates will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

Supplemental Interest Reserve Fund. The Trustee will establish the Supplemental Interest Reserve Fund on the Closing Date. On the Startup DayClosing Date, the holders of the Class X-IO Certificates C Certificateholders will deposit, or cause to be deposited, into the Supplemental Interest Reserve Fund, Fund $10,000. On each Distribution Date as to which there is WAC Excessa Supplemental Interest Amount, the Trustee has been directed by the Class C Certificateholders to, and shall thereforetherefor will, deposit into the Supplemental Interest Reserve Account an amount equal Fund the amounts described in Section 5.01(b)(8), rather than distributing such amounts to the WAC Excess which is payable Class C Certificateholders. On each such Distribution Date, the Trustee shall (i) hold all such amounts in respect of Adjustable Rate Group I for the benefit of the Adjustable Rate Group I Certificateholders, and will distribute such amounts to the Class A-V1 Certificateholders pursuant to Section 7.03(b5.01(b)(8) clause C.12 as part of the Accrued Certificate Interest on the Class A-V1 Certificates (ii) hold all such amounts in respect of Adjustable Rate Group II for the benefit of the Adjustable Rate Group II Certificateholders, and 7.03(bwill distribute such amounts to the Class A-V2 Certificateholders pursuant to Section 5.01(b)(8) clause C.13as part of the Accrued Certificate Interest on the Class A-V2 Certificates . If no WAC Excess is Supplemental Interest Amounts are payable on a Distribution Date, the Trustee shall deposit into the Supplemental Interest Reserve Fund on behalf of the Class X-IO C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000. For federal and state income tax purposes, the Class X-IO C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO C Distribution Amount and Class C Carryforward Amount. Amounts Related amounts held in the Supplemental Interest Reserve Fund and not distributable to the Carryover Certificateholders Class A-V1 and Class A-V2 Certificateholders, respectively, on any Distribution Date will be invested by the Trustee in investments designated by the Class X-IO C Certificateholders having maturities on or prior to the next succeeding Distribution Date on which such related amounts will be distributable to the Carryover Class A-V1 and Class A-V2 Certificateholders, respectively. Upon the termination of the Trust, or the payment in full of the Carryover Class A-V1 and Class A-V2 Certificates, all amounts remaining on deposit in the Supplemental Interest Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO C Certificateholders or their designees. The Supplemental Interest Reserve Fund will be part of the Trust but not part of any REMIC created hereunder Pool and any payments to the Carryover Class A-V1 and Class A-V2 Certificates of WAC Excess and related Supplemental Interest Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).